Category: Residential

Explore updates and trends in residential real estate including new housing projects, pricing, buyer preferences, and urban expansion. Learn about the factors shaping residential property markets in major cities and suburbs.

Latest StoriesResidential

Homebuyers Strategize Amid Rising Land Prices

Representative image created by AI BENGALURU: Plotted developments are becoming increasingly attractive to second- and third-home buyers due to their appreciation potential, flexibility, and long-term land value. With land prices surging in double digits across major urban areas over the past four years, what was once a niche market is now a primary investment option for affluent and upwardly-mobile buyers. In response to this heightened demand, developers are creating branded, fully-serviced plotted communities complete with amenities, clear land titles, and integrated infrastructure. Second-home purchasers see land as a forward-thinking asset—offering the liberty to construct at their convenience, mitigating depreciation risks…

Latest StoriesResidential

Manipal Group’s Promoters Purchase ₹64 Crore Bengaluru Apartment

Image for representation Shruti R Pai, the spouse of Manipal Education and Medical Group Chairman Ranjan Pai, has purchased a luxurious apartment in Bengaluru’s Jayamahal Extension for ₹64 crore, as per property registration records from Zapkey. The sale was made through Savyasachi Projects, with representatives Parag S. Maniar and H. Vijayanath Hegde facilitating the transaction. The apartment, situated in the exclusive Savyasachi Sarayu project, occupies the 13th and 14th floors, covering a super built-up area of 12,800 sq ft and a carpet area of 9,929 sq ft. This deal translates to ₹64,457 per sq ft based on the carpet area—a…

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UP Cabinet Boosts Women: 1% Stamp Duty Discount on Property

LUCKNOW: The Uttar Pradesh Cabinet has approved a 1% discount in stamp duty for properties valued up to Rs 1 crore when registered in a woman’s name. This decision was made during a Cabinet meeting led by Chief Minister Yogi Adityanath at Lok Bhavan, as stated by the UP government. A total of 37 proposals were approved during this session. Previously, this exemption was limited to properties worth up to Rs 10 lakh, with a maximum discount of Rs 10,000. The government has now expanded this exemption to include properties valued up to Rs 1 crore. Labour Minister Anil Rajbhar…

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Lucknow Body to e-auction 200 Vacant Residential Plots

Representative Image LUCKNOW: The Lucknow Development Authority (LDA) is set to auction approximately 200 vacant residential plots from various housing schemes throughout the city. The detailed list of available plots has been released on the LDA’s official website, allowing interested individuals to participate in the e-auction process. LDA officials mentioned that these plots are spread across several housing projects, including Basant Kunj, Priyadarshani Colony, the Kanpur Road scheme, Gomtinagar, and the Gomtinagar extension schemes. With sizes ranging from 60 sqmt to 252 sqmt, buyers will have diverse options according to their preferences. The authority has provided comprehensive information regarding each…

Latest StoriesResidential

Gujarat Waives ₹200 Fee for Ownership Certificates in SVAMITVA

AHMEDABAD: The Gujarat government has announced the waiver of the Rs 200 fee for ownership certificates under the SVAMITVA scheme, alleviating the financial strain on rural property owners, officials confirmed on Monday. Property owners in rural Gujarat can now obtain their “sanad” or ownership certificate at no cost under the SVAMITVA scheme. The SVAMITVA Yojana, initiated by Prime Minister Narendra Modi in 2021, aims to provide property cards to rural landholders nationwide. Utilizing drone technology, the ‘Survey of Villages Abadi and Mapping with Improvised Technology in Village Areas (SVAMITVA) Scheme’ surveys properties in populated rural regions, issuing property cards to…

Latest StoriesResidential

Bonacaud Housing Revamp in Thiruvananthapuram by December

THIRUVANANTHAPURAM: Law and Industries Minister P Rajeeve has announced that the renovation of the dilapidated housing units linked to the defunct estate in Bonacaud will be completed by December. He mentioned that the workers will receive their renovated homes as a New Year gift. While inaugurating the renovation project, Rajeeve asserted that the government is committed to reopening the tea estate. The renovation encompasses 43 housing units that will benefit 186 families, costing Rs 4 crore, with Rs 2 crore contributed by the plantation department and Rs 2 crore from the labour department’s Plantation Workers Relief Fund. The District Construction…

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Kochi Starts Building New Homes for Shanthipuram Residents

KOCHI: Housing reconstruction has officially commenced in the Shanthipuram Colony, located in the 44th division of Kochi corporation, Karanakodam. The project aims to build new homes for 197 families, funded by Life Mission and Corporate Social Responsibility (CSR) initiatives. The current houses are dilapidated and insecure. “One of the long-term objectives of the municipality is to provide residents with safe and secure homes, as outlined in our budget. Under the guidance of the Azadi Group’s Architecture Engineering College, plans have been created for apartment complexes containing eight units each, across three cents,” stated Mayor M. Anilkumar. “The estimated cost to…

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Indiramma Housing Project Delayed Due to Centre’s Warning to Telangana

HYDERABAD: Hopes for swift central funding for the initial phase of the Revanth Reddy government’s ambitious Indiramma housing scheme in rural areas faced a setback. The Union Housing Ministry communicated to the state that the submitted proposals do not meet the required norms. The state government submitted a list of housing beneficiaries to secure funds under the Pradhan Mantri Awas Yojana (Rural) scheme. Under PMAY (Rural), the ministry allocates ₹72,000 per housing unit, while the state government must cover the remaining cost. In its correspondence, the Union ministry instructed officials to upload live facial authentication using Aadhaar for each beneficiary…

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Housing Societies Face NA Tax Dilemma Without State Resolution

PUNE: Nearly ten months after the state cabinet announced the abolition of the non-agricultural (NA) tax for urban housing societies, confusion continues due to the lack of a formal government resolution (GR). The management of housing societies across the state is uncertain whether to keep paying the tax until official guidelines are issued. The cabinet, led by Eknath Shinde, approved the removal of the NA tax in October 2024, just before the state assembly elections, aiming to relieve residents in urban areas like Pune and Mumbai who have been paying both property tax and NA tax. Housing societies have since…

Latest StoriesResidential

Noida’s Highrise B&Bs Under Scrutiny for Short-Term Rentals

NOIDA: The rise of short-term rentals in high-rise residential areas is raising concerns following complaints about noise, drug use, and unauthorized commercial activities. Officials have stated that properties listed on online platforms are serving as unregistered guesthouses and party venues, often breaching housing and excise regulations. During a recent meeting at the Narco Coordination Centre (NCORD), DM Manish Verma instructed police, excise officials, and other agencies to investigate these properties. “We need to assess the legality of these rentals,” Verma emphasized. “If someone is renting out a flat for just a few days, it must adhere to the Sarai Act.…