Mumbai News Desk

11 minutes ago

The Legend, a luxury residential redevelopment of the late actor Dilip Kumar's 71-year-old bungalow in Pali Hill, Bandra, has crossed INR 500 crore in sales within 15 months of launch, according to property consultants. The project, undertaken by Ashar Group, will feature 19 high-end apartments alongside a dedicated 2,000-square-foot museum on the ground floor honouring the actor's legacy, with a separate entrance for visitors. Among the sales recorded, a sea-view triplex was purchased by Apco Infratech for INR 155 crore in July 2024. The development agreement between Ashar Group and Dilip Kumar and his wife Saira Banu was signed in March 2016.Read more

3 hours ago

The Bhubaneswar Municipal Corporation (BMC) has initiated enforcement action against 112 residential buildings found to be operating commercial establishments in violation of sanctioned building plans and land-use provisions. Through official notices issued by its Planning and Development wing, the civic body has directed owners and occupiers to discontinue the unauthorised commercial use of the premises, warning that failure to comply will result in the buildings being sealed under the applicable municipal laws.Read more

6 hours ago

JPMorgan has announced plans to deploy more than USD 750 billion towards housing initiatives in the United States through 2035 under its American Dream Initiative. The programme aims to increase housing supply, expand homeownership and support affordable housing development. The bank plans to increase mortgage lending by more than 40%, helping around 500,000 customers purchase homes, while supporting the production and preservation of over one million affordable housing units. The initiative also includes expanding its home lending workforce and participating in housing policy discussions, as the US housing market continues to face supply shortages, elevated borrowing costs and high home prices.Read more

6 hours ago

The Bhopal Municipal Corporation (BMC) has launched a sealing drive against commercial establishments operating illegally from residential areas, sealing nearly two dozen premises after owners failed to comply with earlier notices. The action forms part of a wider enforcement campaign to curb unauthorised commercial activities in residential neighbourhoods and ensure compliance with approved land-use regulations. Civic officials have indicated that similar action will continue against other violators who do not regularise or discontinue the unauthorised use of their properties.Read more

7 hours ago

The Brihanmumbai Municipal Corporation (BMC) has reinforced its incentive programme offering up to 15% rebate on the general component of property tax for housing societies that scientifically process waste at source. The benefit is available to societies undertaking decentralised segregation and treatment of wet and dry waste, along with greywater recycling or rainwater harvesting. Societies engaging authorised waste-processing agencies are also eligible, provided the agencies meet BMC's prescribed standards and receive municipal approval.Read more

8 hours ago

Australia’s housing market recorded a second consecutive month of sharper price declines, with national home values falling further in July as high borrowing costs and uncertainty over proposed tax changes weighed on buyer and seller sentiment. Sydney and Melbourne remained the weakest-performing markets, while the slowdown also spread to mid-sized cities. The weakening trend has drawn attention from the Reserve Bank of Australia, as softer housing activity could have broader implications for the country's economy, including the real estate, construction and home services sectors.Read more

15 hours ago

Bihar Chief Minister Shri Samrat Choudhary has directed the Bihar Real Estate Regulatory Authority (RERA) to make its functioning more transparent, efficient and homebuyer-centric. Reviewing the authority's performance, he stressed the need to simplify procedures, eliminate unnecessary delays and safeguard consumer interests without compromising the ease of doing business. The Chief Minister also called for greater digital integration, faster grievance redressal and stricter monitoring of real estate projects to enhance accountability and confidence in the sector.Read more

04 Aug 2026

Property registrations in Mumbai Municipal Corporation (BMC) limits reached 13,824 units in July, marking a 10% year-on-year increase and the highest registration level for the month in the last 14 years, according to Knight Frank India. The growth was supported by sustained homebuyer demand across both primary and secondary housing markets. Industry experts said end-user demand remains healthy, particularly for projects by established developers. The latest performance follows a strong trend seen in recent months, highlighting continued buyer confidence in Mumbai's residential market despite a higher base.Read more

04 Aug 2026

India's residential market remained stable during the first half of 2026, with apartment sales rising 3 per cent year-on-year across the country's seven major cities, according to JLL India. Bengaluru emerged as the top-performing market, recording the highest apartment sales and a sharp increase in new launches. The city's strong employment base, expanding Global Capability Centres (GCCs), infrastructure upgrades and growing demand for premium homes continued to support residential activity. The report also highlighted a significant rise in demand for homes priced between INR 1 crore and INR 3 crore.Read more

04 Aug 2026

Uttar Pradesh's real estate sector recorded steady growth during the first half of 2026, with UP RERA registering more projects, higher proposed housing units and increased investments compared to the corresponding period last year. While Lucknow led in new project registrations, Gautam Buddh Nagar remained the largest market in terms of investment and proposed housing supply. The report also highlighted the state's consistent real estate growth over the past three years, along with UP RERA's efforts in consumer protection through refunds, dispute resolution and grievance redressal initiatives.Read more

03 Aug 2026

Taylor Wimpey has reduced its shareholder distribution policy and narrowed its UK home completions guidance as affordability concerns and economic uncertainty continue to affect the housing market. The company is slowing construction activity and reducing land acquisitions in response to weaker buyer demand. While it returned to profit during the first half compared to the previous year, it expects market conditions to remain challenging, with home prices staying below last year's levels and construction costs continuing to rise. The move reflects the cautious approach being adopted by major UK housebuilders.Read more

03 Aug 2026

HSBC has agreed to sell its Australian home and personal loan portfolio valued at AUD 36 billion (USD 25.3 billion) to Blackstone in what is being described as the world's largest home loan portfolio transaction. The deal forms part of HSBC's ongoing global restructuring strategy aimed at exiting non-core retail businesses and strengthening its corporate and institutional banking operations. Subject to regulatory approvals, the transaction is expected to be completed in the first half of 2027. Blackstone will manage the portfolio through multiple investment funds, with Pepper Money overseeing loan servicing in Australia.Read more

03 Aug 2026

Maharashtra has approved the construction of 1,60,463 houses under the Pradhan Mantri Awas Yojana (Urban) 2.0 after more than 4.21 lakh beneficiaries registered on the unified web portal. During a review meeting, Chief Minister Devendra Fadnavis directed implementing agencies to speed up project execution while maintaining quality standards. The state also reviewed its housing stock management strategy and the proposed Housing Stock Portal, which aims to integrate available housing across multiple agencies and improve allotment for eligible beneficiaries, including several special categories.Read more

03 Aug 2026

Builders FirstSource has lowered its 2026 revenue forecast after reporting weaker-than-expected second-quarter results, reflecting continued pressure in the US residential housing market. Lower housing starts, high home prices and elevated interest rates have affected demand for building materials, resulting in lower sales and earnings. The company has also revised its annual sales guidance to account for pricing challenges, commodity cost pressures and margin constraints. Despite these challenges, Builders FirstSource expects productivity initiatives to generate cost savings during 2026 as it continues to manage a difficult market environment.Read more

03 Aug 2026

Rightmove has lowered its revenue growth forecast for FY2026 after continued weakness in the UK new home market affected business expectations. The company said lower housing construction activity, increased competition from the resale market and cautious buyer sentiment have weighed on the sector. While revenue growth guidance has been revised downward, Rightmove has maintained its operating profit outlook and plans to return around GBP 400 million to shareholders over the next 12 months. The company is also facing legal costs linked to an ongoing competition lawsuit filed by estate agents.Read more

03 Aug 2026

Mumbai's luxury housing market recorded its strongest-ever first-half performance, with sales of homes priced at INR 10 crore and above reaching a record INR 18,512 crore during the first six months of 2026, according to a report by India Sotheby's International Realty and CRE Matrix. The growth was supported by higher transaction volumes and a steady rise in property prices. Demand remained concentrated in established premium locations, while the INR 20-40 crore segment continued to witness healthy traction. Worli emerged as the top-performing luxury micro-market during the period.Read more