Gurugram News Desk

23 Dec 2025

An FIR has been filed against the directors of Ocean Seven Buildtech Pvt Ltd after homebuyers raised allegations of fraud, fund diversion, and criminal breach of trust in the stalled Expressway Towers affordable housing project in Gurugram. Buyers claimed that allotted flats were illegally cancelled and resold, construction has remained incomplete for years, and intimidation tactics were used to prevent oversight. The police have begun investigating financial records, escrow transactions, and project documentation to determine accountability. This case adds to ongoing scrutiny of developers failing to deliver promised affordable housing.Read more

23 Dec 2025

Roswalt Realty recorded a 100% sell-out of its newly launched residential project, Roswalt Zeya, in Oshiwara, Andheri West, within 12 hours of launch, underlining robust buyer demand for well-located and efficiently designed homes in Mumbai. The 24-storey single-tower development offers 110 premium 1 BHK and 2.5 BHK residences with compact, Vastu-compliant layouts focused on functionality rather than excess. Located on SV Road, the project benefits from strong connectivity to major transport corridors and lifestyle hubs.Read more

23 Dec 2025

Modon Holding PSC has formed a joint venture with related companies and Panepinto Properties for the development of Harborside 4. The company has acquired a majority equity stake in the project, securing a controlling interest. Construction is expected to commence in Q1 2026, with completion targeted for Q1 2029. Financing for the development will be provided by a consortium of banks led by J.P. Morgan. The project reflects Modon's continued focus on long-term real estate developments backed by structured financing and strategic partnerships.Read more

23 Dec 2025

LIC Housing Finance has lowered interest rates on new home loans, with revised rates starting from 7.15%, effective earlier this week. The reduction applies to all fresh loan sanctions and comes in the backdrop of the recent 25 basis point repo rate cut by the Reserve Bank of India's Monetary Policy Committee. The move is aimed at improving housing affordability and supporting buyer sentiment at a time when homebuyers are carefully reassessing purchase decisions amid broader economic uncertainty.Read more

23 Dec 2025

In Hubballi's Kallur layout, homes built under the Smart City project for families displaced by the Vani Vilas Circle Road expansion remain unoccupied due to incomplete infrastructure work. Out of 80 completed homes, 47 have been allotted, but beneficiaries have not received possession. Delays in electrical meter installations, sanitation, and other basic amenities have caused the hold-up. Some homes have suffered minor damage over time. Civic authorities say the electrical work, costing around INR 4 lakh, is now complete, and handovers are expected soon.Read more

22 Dec 2025

The Delhi High Court has imposed costs on a habitual petitioner for repeatedly filing similar pleas related to alleged illegal construction activities, chastising the litigant for misusing judicial time and clogging court dockets. The bench observed that the successive petitions raised identical issues that had already been addressed earlier, leading to unnecessary repetition and judicial burden. By directing the petitioner to pay costs, the court underscored the need to deter frivolous litigation and preserve judicial resources. The order emphasises that courts are obliged to protect their processes from misuse, and that litigants must ensure new petitions present fresh grounds rather than rehashing settled matters.Read more

22 Dec 2025

CREDAI has urged the government to extend tax incentives for developers building affordable housing in the upcoming Union Budget, pointing to rising construction and land costs. The industry body has also called for revising the affordable housing price cap of INR 45 lakh, introduced in 2017, saying it no longer reflects current market realities. CREDAI has suggested raising the limit to INR 90 lakh or removing it to support housing supply in urban and semi-urban areas. It also sought a reduction in GST on construction inputs to lower overall project costs. The association highlighted strong post-pandemic housing demand, improved transparency under RERA, and its continued focus on sustainable and green real estate development.Read more

22 Dec 2025

Keystone Realtors is gearing up to launch a super luxury residential project in Bandra, Mumbai, with a GDV of around INR 3,000 crore. The company has recorded property sales of INR 1,839 crore in the first half of the fiscal year, a 40 per cent increase annually, and aims to achieve INR 4,000 crore in bookings. Keystone plans four more project launches in the second half of the year, investing INR 950 crore in construction. Strong demand in MMR and reduced home loan rates are expected to support continued sales growth.Read more

22 Dec 2025

The Comptroller and Auditor General of India has identified significant lapses in the implementation of a major affordable housing scheme in Chhattisgarh, highlighting delays, cost overruns and procedural deficiencies. The audit found that key project timelines were missed and that financial irregularities and inadequate monitoring weakened delivery of the government's housing objectives. Shortcomings included poor planning, lack of timely approvals, and non-adherence to contractual benchmarks, which collectively reduced the scheme's effectiveness. The findings signal a need for strengthened oversight, rigorous project management and tighter compliance with policy guidelines to ensure public funds are efficiently used and intended beneficiaries receive housing benefits in a timely manner.Read more

22 Dec 2025

US existing home sales edged up marginally in the past month, rising 0.5% to an annualised pace of about 4.13 million units, indicating a stable but subdued housing market. Despite the monthly gain, sales remained lower than last year as high borrowing costs and economic uncertainty continued to weigh on buyer sentiment. Limited new listings and slower inventory growth kept supply tight, supporting home prices, which rose to a median of around USD 409,200. Mortgage rates stayed above 6%, affecting affordability, especially for first-time buyers. With homes taking longer to sell and cash buyers playing a larger role, the market showed steadiness rather than a clear recovery.Read more

22 Dec 2025

A Mumbai special PMLA court declined Encore Asset Reconstruction Company Pvt Ltd's request to release and auction several mortgaged properties linked to the DSK Group, citing ongoing investigations and attachments under the PMLA and MPID Act. The court highlighted that allowing an auction could harm thousands of investors and depositors who suffered losses. The plea was considered premature as charges in the PMLA case have not been formally framed, and MPID proceedings are still active. The decision underscores careful judicial management of high profile financial cases.Read more

21 Dec 2025

The Delhi Development Authority (DDA) has introduced the Karmayogi Awaas Yojana 2025, making 1,168 ready flats in Pocket 9, Narela available at a 25 % discount for serving and retired government staff, including those from central and state governments, PSUs, banks, local bodies, autonomous institutions and government universities. Units include 1 BHK, 2 BHK and 3 BHK options with prices after discount ranging roughly from INR 34 lakh to INR 1.27 cr. Online registration opens soon, and allotment will follow a first come, first served process with clear booking and maintenance cost details.Read more

21 Dec 2025

Residential units built under the Smart City programme in Hubballi continue to remain vacant despite being allotted to displaced families, highlighting persistent delays in handover. The houses, constructed at the Kallur layout to rehabilitate families affected by a major road expansion project, are yet to be occupied due to the absence of basic civic amenities. Beneficiaries who received allotment orders earlier have been unable to move in as electricity connections, sanitation facilities and other essential services are still pending. The Hubballi Dharwad Municipal Corporation has acknowledged the delays, attributing them to unfinished infrastructure work, and has indicated that possession will begin once pending utilities are completed.Read more

21 Dec 2025

Actor Madhuri Dixit Nene and her husband, Dr Shriram Madhav Nene, have sold their residential apartment in Juhu, Mumbai, for INR 3.90 crore, according to property registration records. The apartment, measuring around 780 sq ft, is located in Deep Varsha Co-operative Housing Society on Military Road. The buyer, a woman, benefited from Maharashtra's 1% stamp duty concession for women homebuyers, paying INR 19.5 lakh in stamp duty. The couple also sold a parking space in the same society for INR 15 lakh on the same day. Juhu remains a sought-after residential locality, known for its premium appeal, coastal access and strong demand among high-net-worth individuals and film industry professionals.Read more

21 Dec 2025

Bengaluru City Police has issued new guidelines requiring residential apartment associations to collect and maintain detailed tenant data, including identity and contact information, to enhance safety and enable faster response during emergencies. The directive, aimed at improving resident security and assisting law enforcement, also recommends documenting guest and staff details. Housing societies have been asked to submit data to local police stations regularly as part of the proactive safety measure.Read more