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

Mumbai reduces stamp duty on housing lease agreements to 0.5%

MUMBAI: Maharashtra Revenue Minister Chandrashekhar Bawankule announced on Tuesday a significant reduction in stamp duty for 99-year lease agreements for cooperative housing societies in Mumbai. Residential properties will now have a maximum stamp duty of 0.5%, while commercial properties will face a rate of 1.5%. The announcement came in response to a calling attention motion by Atul Bhatkhalkar (BJP), who highlighted that numerous cooperative housing societies have struggled to register lease agreements due to procedural delays and high stamp duty rates. Bawankule stated that the updated policy would offer considerable relief to societies situated on government land leased for 99…

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eClinicalWorks Founder’s Family Buys Luxury Worli Flat at ₹2.5L/sq ft

Representative Image MUMBAI: Radhi Girish Navani, wife of Girish Navani, co-founder and CEO of eClinicalWorks, has purchased a luxury sea-view apartment in Mumbai for ₹162.2 crore, approximately ₹2.5 lakh per square foot, marking it as one of the nation’s priciest residential transactions. The apartment features a RERA carpet area of 6,458 sq ft, which includes a 645 sq ft balcony, and grants the buyer access to four exclusive car parking spaces. The transaction benefited from a 1% stamp duty discount offered to women homebuyers under Maharashtra regulations, with the stamp duty paid totaling ₹8.11 crore for the registration. Located on…

Latest StoriesResidential

Housing Minister Issues Sanction Letters to 31 PMAY-Urban Recipients

CHANDIGARH: On Monday, Union Minister for Housing and Urban Affairs, Manohar Lal Khattar, distributed sanction letters to 31 beneficiaries under the Pradhan Mantri Awas Yojana-Urban (PMAY-U), emphasizing the Centre’s dedication to providing permanent housing for all eligible low-income families. While addressing a PMAY-U 2.0 event at the Karnal Municipal Corporation, the minister stated that home ownership is essential for dignity, security, and a better tomorrow. He assured that welfare schemes are designed to ensure that benefits reach every eligible individual. The PMAY-U 2.0 initiative, launched on September 1, 2024, targets permanent housing for economically weaker and qualified urban families. The…

Latest StoriesResidential

Housing Affordability Stable in 6 of 8 Cities: H1 2026 Report

NEW DELHI: A report by Knight Frank India reveals that housing affordability remained stable across most major residential markets in H1 2026, bolstered by lower borrowing costs. Among the eight cities analyzed, six stayed within the affordability threshold, while the Mumbai Metropolitan Region (MMR) and the National Capital Region (NCR) surpassed the 50% benchmark. Ahmedabad emerged as the most affordable housing market among the top cities with an affordability ratio of 23%, followed by Kolkata at 25% and Pune at 28%. Bengaluru and NCR saw a slight decline in affordability compared to 2025, recording ratios of 35% and 65%, respectively.…

Latest StoriesResidential

Aadhaar e-KYC, QR Code Required for Haryana Property Registration

GURUGRAM: The property registration process in Haryana has undergone a significant transformation. This new, technology-driven system aims to enhance speed, security, and transparency. Mandatory components include Aadhaar-based e-KYC (electronic know your customer), biometric authentication, and digital signatures for all property registrations. Moreover, every registered document will now feature a QR code for easy authenticity verification. The updated system is now in effect for all types of registrations throughout the state. Officials from the revenue department indicate that these reforms will simplify, expedite, and enhance the transparency of the property registration and mutation process. The QR code on registry papers is…

Latest StoriesResidential

Lucknow Approves Affordable Housing Plan for Anant Nagar

LUCKNOW: The Lucknow Development Authority (LDA) has sanctioned the construction of Aditi Apartments, a substantial affordable housing project consisting of 1,392 flats within the Anant Nagar scheme. Led by LDA Vice-Chairman Prathamesh Kumar, this housing complex will encompass an 18,411-square-metre plot in Adarsh Khand of Anant Nagar, targeting various income groups of homebuyers. Out of the total units, 412 will be one-bedroom flats, each measuring 38.25 square metres, and 980 will be two-bedroom apartments with a carpet area of 50.10 square metres. The project will feature five residential towers and provide parking for 545 vehicles through basement and stilt parking…

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Kreeva to invest ₹1,050 crore in South Delhi housing project

NEW DELHI: Kreeva, the real estate initiative of Kanodia Group, intends to invest over ₹1,050 crore in a high-end residential project located near New Friends Colony in South Delhi. This venture is supported by a ₹260 crore investment from ASK Property Fund, which is the real estate investment division of ASK Asset & Wealth Management Group. The development will be situated on a parcel of land in South Delhi that was acquired for around ₹350 crore, with construction slated to commence by the end of August 2026. Spanning nearly five lakh sq ft, the project will feature 114 luxury skyvilla…

Latest StoriesResidential

Bengaluru body aims to simplify apartment association registration

Here’s the rewritten content: BENGALURU: With increasing requests from apartment owners to manage BDA-built apartment complexes, the Bengaluru Development Authority (BDA) has urged the state government to establish a “competent authority” for registering apartment owners’ associations under the Karnataka Apartment Ownership Act, 1972 (KAOA). This initiative follows appeals from several associations willing to independently manage their apartment complexes. However, BDA officials have indicated that the lack of a clear registration process has hampered the recognition of these associations and the transfer of maintenance responsibilities. In a letter dated June 29 to the urban development department, the BDA highlighted that numerous…

Latest StoriesResidential

Maharashtra Updates: Online AGMs & 12% Cap on Maintenance Fees

PUNE: Housing societies across Maharashtra can now conduct annual general meetings (AGMs) online, with interest on maintenance arrears capped at 12% annually, due to the new Maharashtra Cooperative Societies (Amendment) Rules announced by the state government on Tuesday. The detailed provisions include registration, membership, nominations, inheritance, maintenance charges, redevelopment, financial management, and the functioning of managing committees. This notification marks the implementation of the housing society chapter added through amendments to the Maharashtra Cooperative Societies Act in 2019, concluding a nearly seven-year wait. Cooperation commissioner Deepak Taware stated that the new rules will enhance the operations of housing societies. “Following…

Latest StoriesResidential

Goa cabinet approves ‘Mhajo Flat’ scheme for ownership rights

PANAJI: On Wednesday, the Goa cabinet approved the ‘Mhajo Flat’ scheme, aimed at providing ownership rights to thousands of flat owners who have faced legal challenges due to disputes between builders and landowners or abandoned projects. During a press conference post-cabinet meeting, Chief Minister Pramod Sawant stated that the scheme would assist owners of flats purchased decades ago, who have thus far held only agreement-based rights. Moreover, it will encourage the redevelopment of aging residential buildings throughout the state. According to Sawant, the scheme will involve coordinated amendments to the Cooperative Societies Act, the Indian Stamp Act, and other relevant…