12 Jun 2025

Sundaram Home Finance, a subsidiary of Sundaram Finance Ltd, has successfully crossed the INR 1,000 crore milestone in disbursements from non-southern markets during the latest financial year. Traditionally strong in South India, the company has expanded its reach into Maharashtra, Rajasthan, Madhya Pradesh, and Chhattisgarh, with non-south markets now contributing about 20% of total disbursements. This growth is driven by branch expansions, staff increases, and targeted focus on emerging Tier II and III towns outside the southern region. The company anticipates further growth in these regions, projecting INR 1,500 crore in disbursements in the ongoing financial year.Read more

12 Jun 2025

The Government of Chhattisgarh has launched the first phase of its Model Sub-Registrar Offices (SROs) to modernise and digitise land and property registration services. As part of the rollout, 19 out of 104 SROs are being revamped, including a flagship office in Raipur. Developed in partnership with BLS International, the upgraded offices will feature biometric verification, real-time status tracking, token-based queues, and citizen facilitation desks. Additional amenities include air-conditioned lounges, digital display boards, CCTV monitoring, and services for senior citizens and differently abled individuals. Supporting facilities such as document scanning and complaint redressal will ensure a seamless user experience. This initiative is aimed at improving transparency, efficiency, and accessibility in public services. Positioned as a model for other states, Chhattisgarh's digitised SROs reflect a growing shift towards citizen-focused, tech-enabled governance in India's property registration ecosystem.Read more

12 Jun 2025

UK-based student housing developer Unite Group has proposed a GBP 719 million (USD 976 million) acquisition of Empiric Student Property, signalling further consolidation in the UK's REIT sector. The offer includes 30 pence in cash and 0.09 new Unite shares per Empiric share, valuing each at 107 pence. Empiric shareholders may also retain an interim dividend for Q1 2024. Empiric's shares rose 6.1% post-announcement, while Unite's fell 2.2%. The companies are now in a due diligence phase, with a formal decision due by July 3. Empiric specialises in premium, direct-let student housing, complementing Unite's portfolio near top UK universities. The acquisition would expand Unite's reach, especially among postgraduate and returning students. Unite also recently sold GBP 212 million in assets, likely to fund the deal. If finalised, the merger will strengthen Unite's market position and broaden its appeal across the UK student housing landscape.Read more

12 Jun 2025

In a major enforcement drive, Gurugram's Department of Town and Country Planning (DTCP) removed 51 unauthorised gates from 11 apartment units in South City-1. The action followed complaints from residents and schools about obstructed internal roads, which affected emergency access and daily movement. The gates, spread across blocks C to M, were dismantled by a team led by Town Planner (Enforcement) Amit Madholia, using earthmovers. The DTCP clarified that boom barriers are only permitted on internal roads of licensed colonies under specific rules, which these gates violated. Additional encroachments, including a Vita milk booth, were also cleared. The operation was part of a task force directive to improve traffic flow and public safety. Notices have now been issued to DLF-2 residents to remove illegal gates voluntarily. The DTCP's action signals stronger enforcement of urban planning norms to maintain open and accessible city infrastructure.Read more

12 Jun 2025

Chandigarh's long-delayed Sector?53 housing scheme has been shelved again by the city's Housing Board after property prices spiked sharply due to revised collector rates. Despite a strong response from the public-over 7,400 applications-the scheme was deemed unaffordable in its current form. CHB has decided to refund around INR 7.5 crore collected from applicants. This marks another setback for a project that has been struggling to take off since it was first proposed over six years ago.Read more

12 Jun 2025

The Guwahati Municipal Corporation (GMC) has launched a large-scale inspection drive to ensure compliance with rainwater harvesting, groundwater recharge, and green space norms across residential, commercial, institutional, and industrial buildings. With inspections scheduled to begin in the coming days, the initiative targets properties that have either poorly maintained or completely neglected these mandated systems. The move aligns with state bylaws and aims to strengthen water sustainability and reduce flood risks, while non-compliance could lead to penalties, sealing of premises, or cancellation of occupancy certificates.Read more

12 Jun 2025

Mysuru City Corporation (MCC) has collected over INR 150 crore in property tax within just the first two months of FY 2025-26, achieving 63% of its annual target of INR 237 crore. The boost came from a 5% rebate scheme incentivising early taxpayers, which remains active until the end of June. With 1.95 lakh revenue-generating properties across 65 wards, MCC's strategic drive is expected to significantly enhance civic infrastructure and financial planning in the months ahead.Read more

12 Jun 2025

Haryana has introduced Aadhaar authentication in its affordable housing e-draw portal to eliminate irregularities and improve transparency in allotments. This automated verification cross-checks applicant details against Aadhaar records, preventing duplicates and ineligible applications. The move addresses problems faced during the 2023 Aster Avenue 36 housing draw, where technical glitches affected applicant eligibility and created confusion. By streamlining the verification process and integrating historical data, Haryana aims to ensure a fair and efficient housing allotment system that restores public trust in its affordable housing schemes.Read more

12 Jun 2025

The Wealth Company Asset Management Pvt Ltd, a subsidiary of Pantomath Group, has rolled out the Bharat Bhoomi Fund with a corpus of INR 2,000 crore, aimed at India's real estate sector. Structured as a Category II AIF under the Bharat Value Fund Series, the initiative combines seasoned leadership, a strong pipeline, and a diversified strategy. Targeting key sectors such as warehousing, hospitality, data centres, and plotted developments, the fund aims to deliver results across high-growth urban markets, capitalising on India's expanding digital and green infrastructure.Read more

11 Jun 2025

The Haryana Real Estate Regulatory Authority (HRERA) has directed the developer of Expressway Towers in Gurugram's Sector 109 to compensate buyers for delayed possession. Acting on multiple complaints, HRERA invoked Section 18(1) of the RERA Act, mandating the developer to pay monthly interest from the original possession date until actual handover. The project, located along the Dwarka Expressway, faced buyer frustration due to construction delays despite its prime location appeal. In addition to compensation, HRERA ordered the developer to publish updated construction timelines on its portal to improve transparency. The ruling underscores the regulator's commitment to protecting buyer rights and holding developers accountable for project delays. It also signals to the wider NCR market that delivery commitments are enforceable, encouraging greater adherence to timelines and boosting consumer trust in the housing sector.Read more

11 Jun 2025

Blackstone has reached a definitive agreement to acquire Warehouse REIT for 470 million pounds, offering 110.6 pence per share, including a 1.6 pence dividend. This offer represents a 34.2% premium over the stock's closing price prior to the initial bid announcement. The transaction follows a revised valuation after due diligence, reflecting differing perspectives on certain assets. Warehouse REIT has faced constraints from rising interest rates, weak economic conditions, and restricted access to capital. The acquisition aligns with a broader trend of American firms acquiring undervalued UK assets, reinforcing Blackstone's strategic expansion in the logistics and industrial real estate sectors.Read more

11 Jun 2025

Karnataka's deputy chief minister Shri D K Shivakumar has announced that approximately 100 buildings obstructing stormwater drains in Bengaluru will be demolished to prevent urban flooding. Invoking the Disaster Management Act, the government aims to ensure the free flow of rainwater. The BBMP chief commissioner has been granted full authority to carry out these demolitions, with compensation considered for affected property owners. This initiative follows inspections of flood-prone areas like Yelahanka and Manyata tech park, where significant waterlogging has been observed.Read more

11 Jun 2025

The Supreme Court has instructed High Courts to adjudicate landlord-tenant disputes under the Transfer of Property Act, 1882, within one year. The directive came during a case concerning a long-standing commercial property dispute in Delhi's Khan Market. The court highlighted that such cases often remain unresolved for decades, unfairly depriving landlords of property rights and burdening civil courts. It stressed that possession suits should be handled swiftly, especially when a tenant's legal right to occupy has ended. The apex court reaffirmed that once a lease is terminated, landlords have the right to reclaim possession through civil proceedings, which should not face undue delays. High Courts have been urged to implement measures ensuring timely resolution of such cases, helping to streamline property-related litigation and uphold landlord rights.Read more

11 Jun 2025

The Uttar Pradesh government will draft new lease agreements for 13 sports city projects following a recent High Court ruling mandating a review of earlier contracts. The move aims to resolve legal ambiguities and enable smooth progress on these key infrastructure developments. Spread across the state, the sports cities are intended to boost grassroots sports, attract major events, and support economic growth. Officials are working with developers and legal experts to ensure the new leases align with court directives and offer greater transparency. This step marks a shift from past delays caused by legal and bureaucratic hurdles. The initiative is part of the state's broader vision to diversify its economy, generate employment, and position Uttar Pradesh as a hub for sports infrastructure. Finalising the leases is expected to accelerate project completion and stimulate local development.Read more

11 Jun 2025

Shaula Real Estates, a private firm where Tanya Dubash-daughter of Godrej Industries Chairman Adi Godrej-is a director, has acquired a lavish duplex apartment in Mumbai's Worli locality for nearly INR 226 crore. The purchase was part of the Naman Xana project, an upscale under-construction residential development. The deal, executed in May, stands out as one of the most expensive primary transactions this year, with the per sq ft value on the carpet area reaching approximately INR 2.45 lakh. The move reflects continued investor confidence in Mumbai's high-end residential market.Read more

11 Jun 2025

Hiranandani Communities is aiming to generate revenue exceeding INR 1,100 crore from the initial phase of its new residential project, The Arena, within the sprawling 588-acre Hiranandani Fortune City township in Panvel. Featuring around 600 units, the project taps into the rising demand for quality housing in the Mumbai Metropolitan Region, fuelled by increasing incomes, growing employment opportunities, and the migration of skilled talent seeking comprehensive living environments. The township has already delivered more than 2,200 apartments, with high occupancy rates and over 3,000 satisfied residents.Read more