09 Jun 2025

Mumbai's property market recorded 11,565 housing registrations last week, generating INR 1,062 crore in revenue for the Maharashtra government. This marks a 17.7% year-on-year increase, compared to 9,823 registrations during the same period last year, as per government data. It is also the second-highest May figure in 12 years, after May 2022's spike due to pandemic-era stamp duty concessions. Knight Frank India reported that 80% of these registrations were for residential properties, with Mumbai's western suburbs accounting for 60% of the activity. Despite no new government incentives, stamp duty revenue rose 7% from last year's INR 992 crore. The steady rise in registrations highlights strong buyer confidence and sustained demand in the city's property market. The data indicates a positive trend for Mumbai real estate, driven by long-term investment sentiment.Read more

06 Jun 2025

The Lucknow Development Authority (LDA) has launched two major housing projects-Udyog Nagar and Naimish Nagar-targeting the city's growing demand for affordable, well-planned residences. Udyog Nagar is envisioned as a modern township with green spaces, strong connectivity to commercial hubs, and integrated urban amenities. Naimish Nagar will offer varied housing options catering to diverse income groups, with an emphasis on affordability and quality. Both projects will be developed in phases, employing sustainable construction technologies aligned with national urban housing policies. Building on its successful track record of housing schemes for low- to middle-income groups, the LDA aims to further bridge the housing gap. The new townships will also feature recreational areas, schools, and healthcare facilities, contributing to community welfare. As Lucknow's infrastructure rapidly evolves, these projects are expected to drive residential growth and ease market demand.Read more

06 Jun 2025

Pune Municipal Corporation (PMC) has advanced a INR 1,500 crore flood mitigation and relocation plan for flood-prone areas-Ektanagari, Vitthalnagar, and Nimbajnagar-along Sinhagad Road. Under the Urban Redevelopment Scheme's cluster development provisions, 1,383 residential units and 67 commercial establishments in designated 'blue zones' will be relocated to Hingne Khurd, outside the floodplain. The proposal is currently under state government review. Meanwhile, PMC has initiated immediate flood control measures, including debris clearance and CCTV monitoring to curb illegal dumping. Approval and funding are critical to executing long-term relocation and redevelopment. Compensation for commercial property owners remains delayed due to legal gaps in current regulations. With monsoon-related flooding intensifying, PMC's comprehensive relocation strategy aims to provide a sustainable solution for vulnerable communities while improving overall urban resilience.Read more

06 Jun 2025

In its latest pre-monsoon survey, Pimpri Chinchwad Municipal Corporation (PCMC) identified 82 structurally unsafe buildings, issuing emergency notices to mitigate potential monsoon hazards. This marks an improvement from 132 unsafe buildings flagged in 2024 and 125 in 2023, reflecting better compliance and proactive repairs by property owners. Of the 82 buildings, four require immediate demolition, eleven need urgent evacuation and repairs, sixteen need major repairs, and fifty-one need minor fixes. Nine previously unsafe buildings have already been repaired or demolished. PCMC is also acting on its own assets, recently demolishing a deteriorated civic school building. These annual surveys aim to prevent building collapses during heavy rains. PCMC urges all property owners to comply with safety notices promptly. Through vigilant monitoring and community cooperation, the civic body seeks to enhance public safety ahead of the monsoon season.Read more

06 Jun 2025

The Delhi government has taken a bold step to address rising air pollution levels by requiring anti-smog guns to be installed in high-rise structures taller than 45 meters. The directive, issued under the Unified Building Bye-Laws for Delhi 2016, applies to both new and existing projects. Developers have been instructed to incorporate these pollution-control measures during the construction phase itself. The requirement also extends to previously completed high-rises, reflecting the government's broadened approach to environmental compliance. The move comes amidst persistent air quality concerns and a push for stricter enforcement in the capital's real estate sector.Read more

06 Jun 2025

Dubai's real estate market saw a record-breaking monthly sales value of AED 66.8 billion earlier this week, which represents a nearly 50% increase over the same time last year. Transaction volumes remained robust, reflecting sustained demand and a maturing market. While the residential segment shows no signs of oversupply despite a large pipeline of upcoming units, certain neighbourhoods like Jumeirah Village Circle might experience short-term price adjustments. Conversely, the commercial office sector is grappling with a significant undersupply, pushing prices upward. The city's appeal as a global hub for high-net-worth investors continues to underpin its property market strength.Read more

06 Jun 2025

India's real estate sector could drive significant climate gains by adopting net-zero building practices, according to the NIUA-RMI report 'Build Right for the First Time.' The report estimates that integrating net-zero principles in new construction could cut up to 8 gigatons of CO? by 2050. Though this transition adds INR 4,566 per sq. m, benefits include lower emissions, reduced operational costs, and healthier living spaces. Developers like Signature Global and Krisumi Corporation are embedding sustainability through energy-efficient designs, low-carbon materials, and advanced cooling systems. Market demand for eco-friendly homes is growing, with certifications like EDGE and IGBC gaining traction. The report calls for supportive policies, incentives, and updates to the National Building Code. States like Gujarat and Maharashtra are leading the way with net-zero codes. As regulations evolve, India's real estate industry is poised to be a cornerstone of the nation's green transition.Read more

06 Jun 2025

The Navi Mumbai Municipal Corporation (NMMC) has intensified action against unauthorized construction in Airoli. Acting on the Municipal Commissioner's directives, the encroachment department demolished an illegally built RCC structure behind Vinita Apartments in Sector 20. Despite prior notices under Section 54 of the Maharashtra Regional and Town Planning Act, 1966, the builder continued work without approval. The operation involved demolition equipment, a specialized crew, and an on-site encroachment team. A penalty of INR 50,000 was also imposed on the violator. NMMC has announced that such enforcement will continue citywide to deter violations and uphold planned urban development. The move underscores NMMC's commitment to preserving Navi Mumbai's orderly infrastructure and protecting law-abiding residents. Ongoing vigilance will be key to sustaining the city's growth and urban integrity.Read more

06 Jun 2025

Signature Global is set to invest approximately INR 4,000 crore during the current financial year to acquire land and fuel construction activities across its residential projects in Gurugram. The company had allocated INR 1,070 crore in the past year towards acquiring 48 acres in Gurugram. Of the upcoming capital deployment, INR 1,200-1,500 crore will be used for land acquisition, while INR 2,500 crore has been earmarked for construction. The firm reported robust sales bookings of INR 10,290 crore during the last fiscal and is targeting INR 12,500 crore in the current one. Signature Global's strong financials reflect a significant rise in profitability and income, marking its ascent among India's top five listed real estate firms.Read more

06 Jun 2025

India's real estate growth is shifting beyond metros, according to BHARAT 2030: The Silent Surge of Tier-II and Tier-III Cities, a report by CII's Ashwinder R. Singh. Cities like Raipur, Belagavi, Salem, Udaipur, Aurangabad, and Ayodhya are emerging as key growth hubs. Driven by rising aspirations, better connectivity, and reverse migration, these regions are becoming vibrant economic centres. Infrastructure-expressways, airports, and metro networks-is now preceding real estate growth. Sectors like EV manufacturing, warehousing, and health-tech are spurring demand for housing. The report urges developers to invest early in affordable housing, plotted developments, and townships. It highlights opportunities for investors beyond traditional markets, supported by local government incentives. This shift promises a more balanced, inclusive urbanisation, with smaller cities poised to shape India's INR 10 lakh crore real estate economy by 2030.Read more

06 Jun 2025

Portugal has been identified as the top international destination for Americans seeking a fresh start abroad, as revealed by a recent Expatsi survey of over 116,000 respondents. The desire for adventure, personal enrichment and growth ranked highest among motivators, with two-thirds of participants expressing intent to relocate within the next couple of years. Portugal's Algarve region stood out for its sunshine, outdoor lifestyle, affordable living, English-friendly services and accessible visa options. Kronos Homes spotlighted several prime real estate offerings in the Algarve, appealing to both digital nomads and retirees eager to make the move.Read more

05 Jun 2025

Gujarat Real Estate Regulatory Authority (GujRERA) has launched a state-wide crackdown on developers violating RERA by promoting and accepting pre-registration bookings. The authority reiterated that projects must obtain RERA registration before any marketing or bookings, to protect buyers and ensure transparency. Alongside enforcement, GujRERA has introduced new marketing guidelines, effective mid-June. Developers must now display their Unique RERA registration number and a QR code from the RERA certificate on all promotional materials-including brochures, booking forms, print, digital, and video ads. In videos, the QR code must appear for at least three seconds; audio ads must clearly mention the RERA number. Non-compliance could result in penalties of up to 5% of the project's estimated construction cost under Section 63 of the Act. GujRERA's measures aim to foster trust, accountability, and stricter compliance across Gujarat's real estate sector.Read more