03 Aug 2025

The Gujarat High Court has reopened contempt proceedings against Pacifica Developers and its top executives after lifting a stay on a 60-day civil prison order issued by GujRERA. The case involves non-delivery of a booked flat and its alleged resale to another party. Despite initially promising a settlement and depositing INR 24 lakh, the developer failed to file the required appeal. The court viewed this as an abuse of process and ordered the release of the deposit to the homebuyer, while sending the contempt matter to a division bench for further action.Read more

03 Aug 2025

A consumer forum in Coimbatore ordered PNB Housing Finance to compensate a borrower family with INR 10 lakh and litigation costs after their original title deeds went missing post-loan repayment. The ruling also mandated document reconstruction via certified copies and cancellation of related deposit warrants. This action comes as part of a broader regulatory push that obliges lenders to return property papers within 30 days or face penalties of INR 5,000 per day. Historic rulings against banks like PNB affiliate UBI and ICICI underscore the growing scrutiny over handling of original property documents and deficiency in service.Read more

03 Aug 2025

India's real estate sector is regaining momentum, with increased optimism among developers and financial institutions, according to the NAREDCO-Knight Frank Real Estate Sentiment Index for April-June. The Current Sentiment Score rose to 56 from 54, while the Future Sentiment Score jumped to 61, ending a four-quarter decline. The rebound is driven by economic stability, lower inflation, strong GST collections, reduced interest rates, and growing demand in premium housing and office leasing, especially from GCCs and co-working operators. NAREDCO President Hari Babu and Knight Frank CMD Shishir Baijal emphasized the sector's resilience, improved liquidity, and its readiness for sustained growth in the coming months.Read more

Authored Article - Ankit Lodha, Founder, LA Empire

03 Aug 2025

Vacation homes, once a luxury limited to the elite, are increasingly becoming mainstream assets for modern homeowners in India. Driven by flexible work culture, wellness-focused living, and rental income opportunities, buyers are opting for second homes in scenic destinations such as Goa, Lonavala, and Coorg. With millennials and Gen Z prioritising work-life balance, developers are responding with eco-conscious, tech-enabled properties. The trend reflects a shift towards sustainable, multi-functional real estate investments that combine leisure, income, and long-term lifestyle goals.Read more

03 Aug 2025

In a significant step towards providing affordable housing, 679 houses have been successfully completed under the Pradhan Mantri Awas Yojana (PMAY) in Bhaderwah, Jammu & Kashmir. This achievement, part of the central government's initiative to house underprivileged families, marks a notable milestone in rural infrastructure and welfare for the region. Bhaderwah Block Development Officer Yasir Ahmed W confirmed the completion, highlighting the government's commitment to "Housing for All," with a special focus on improving living conditions for poor and tribal families who previously resided in unsafe dwellings.Read more

02 Aug 2025

Actor Akshay Kumar recently sold two flats in Borivali East, Mumbai earning nearly 91% profit on the transaction. The combined sale value stood at INR 7.10 crore. These properties, located in Oberoi Sky City, were originally purchased in 2017. One of them, a 1,101 sq ft apartment, fetched INR 5.75 crore, while the smaller 252 sq ft unit was sold for INR 1.35 crore. The resale took place earlier this week, with both transactions showing significant appreciation and highlighting strong demand in the western suburbs.Read more

01 Aug 2025

Aldar Properties has reported a sharp rise in quarterly net profit, driven by strong property sales-especially from Chinese investors-across its Abu Dhabi residential and commercial portfolio. The development division led growth, supported by new launches and successful sales efforts, while revenue from investment properties also rose due to higher occupancy and rental rates. Executives noted increased international interest, particularly in premium and waterfront projects. Strong operational execution, including on-time delivery and cost controls, further boosted performance. Aldar is also expanding into new geographies and asset classes through acquisitions and joint ventures, aiming to grow recurring income and enhance long-term stability.Read more

01 Aug 2025

The Bhubaneswar Development Authority has directed allottees of its residential properties to obtain a Unique Account Number (UAN) by the end of August to continue availing services such as lease deeds, NOCs, property transfers, and conversion from leasehold to freehold. A dedicated facilitation cell at the authority's headquarters has been activated to assist applicants. The authority has also recorded progress in its ongoing property conversion programme, approving over 740 conveyance deeds across 27 housing schemes. Allottees must meet specific eligibility conditions, including construction status and legal compliance.Read more

01 Aug 2025

Portugal's housing market has maintained strong buyer interest for six consecutive months, with prices continuing to rise, as per the RICS and Confidencial Imobiliário Housing Market Survey. The premium segment, particularly in the Algarve, is witnessing brisk sales. The Residences Vale do Lobo, a newly launched luxury project within the prestigious Vale do Lobo resort, has already approached the halfway mark in sales just weeks after its release. Domestic and international investors alike are drawn to the blend of lifestyle and investment potential on offer.Read more

01 Aug 2025

The Telangana Housing Board recently conducted an online auction for a one-acre commercial plot in KPHB Phase 4 that fetched over INR 65 crore. Winning the bid was the Institute of Chartered Accountants of India (ICAI), amid competition from eleven bidders. Simultaneously, 131 Rajiv Swagruha apartments in Bandlaguda were allocated by lottery to middle-income beneficiaries, raising INR 26 crore in total. These transactions reflect the government's continuing strategy to provide affordable urban housing while netting revenue from surplus assets.Read more

01 Aug 2025

ATS Infrastructure has fully repaid INR 190 crore, covering both principal and interest, to the government-backed SWAMIH Fund after completing its previously stalled residential project 'ATS Marigold' in Gurugram. The SWAMIH Fund had invested INR 133 crore in the project back in February 2021, providing crucial support during a financial crunch. With all 422 units across six towers completed, the project has now secured an occupation certificate. The repayment underscores the fund's impact in reviving stressed projects, especially those derailed due to the NBFC crisis and the pandemic.Read more

01 Aug 2025

India's residential real estate sector witnessed a recalibrated momentum during Q2 2025, characterised by shifting developer strategies, premium housing focus, and uneven performance across metros. According to ANAROCK's latest findings, while overall sales dropped by 20% year-on-year, the total value of housing sales marginally rose by 1%, reflecting a tilt towards high-value homes. Mumbai led in inventory levels and pricing, whereas NCR and Pune presented mixed outcomes driven by affordability challenges and inventory absorption trends.Read more

01 Aug 2025

Godrej Properties has forayed into the Vadodara real estate market by acquiring approximately 34 acres of land for the development of a residential project comprising premium plots. This move marks the company's entry into the city as part of its broader Gujarat expansion strategy. Previously, the firm had acquired a 3-acre parcel in Ahmedabad's Vastrapur area. The new Vadodara project will focus exclusively on plotted residential offerings, reflecting growing demand in the region.Read more

01 Aug 2025

The Odisha Real Estate Regulatory Authority (ORERA) has reinforced compliance by instructing developers to submit Quarterly Progress Reports (QPRs) within a strict timeframe. Promoters who fail to meet this requirement risk having their projects marked as "non-compliant." This directive aligns with Rule 16 of the Odisha Real Estate (Regulation and Development) Rules, 2017, and is intended to ensure accountability and transparency in the state's real estate sector. The authority has now begun tagging defaulting projects on its official platform to publicly highlight non-adherence.Read more

01 Aug 2025

Three properties in Sushant Lok 1, Gurugram were sealed by the Department of Town and Country Planning (DTCP) during an enforcement drive conducted earlier this week. Authorities cited violations of residential zoning regulations, including illegal commercial operations and unauthorised construction. A crèche plot was being misused for educational and dance classes, a residential building was operating as a girls' hostel, and parking space had been converted into living units. While residents responded with mixed views, the department stated the action was necessary to uphold civic order.Read more

01 Aug 2025

The Brihanmumbai Municipal Corporation (BMC) recently opened bids for the redevelopment of 64 slum plots on its land, receiving 86 responses. However, only 22 plots across seven wards attracted bidders, while 26 schemes found no takers and 17 were kept on hold due to technical reasons. This initiative, under Regulation 33(10) of DCPR-2034, allows for redevelopment without the consent of slum dwellers on BMC-owned land. The civic body aims to develop around 400,000 square meters of land and will remain the planning authority, with further bid openings scheduled for early August.Read more