28 May 2025

The Central Bureau of Investigation (CBI) has initiated investigations into 24 real estate projects across Noida, Greater Noida, and the Yamuna Expressway, following a Supreme Court directive earlier this week. The probe focuses on alleged financial irregularities within subvention schemes that may have defrauded thousands of homebuyers. The CBI has requested detailed records from development authorities, including layout plans, sanction letters, dues statements, and registry details, to assess potential violations of Reserve Bank of India (RBI) and National Housing Bank (NHB) guidelines. The investigation also aims to determine whether funds were diverted from construction activities.Read more

28 May 2025

Property prices rose in 48 out of 50 Indian cities in the final quarter of FY 2024-25, according to NHB's latest RESIDEX report. The Housing Price Index (HPI) recorded a 7.5% annual increase up from 5.1% a year earlier highlighting strong market momentum. Bengaluru led with 13.1% growth, followed by Kolkata (9.6%), Chennai (9%), and Pune (6.8%). Only Howrah and Thiruvananthapuram saw price declines. Sequentially, prices rose 1.9% between January and March. The RBI's recent 25 basis point repo rate cut the first in five years has lowered home loan rates, further supporting demand. The data signals continued market recovery and growing developer confidence.Read more

28 May 2025

The Maharashtra Housing and Area Development Authority (MHADA) has lowered the prices of 6,248 apartments in Thane in an effort to increase demand among economically disadvantaged section (EWS) homebuyers. These flats, constructed by the Konkan Housing and Area Development Board, are located in Khoni, Shilphata, and Kalyan. Initially launched at higher rates earlier this year, the lack of response prompted a price cut of up to INR 1.43 lakh per flat. The new pricing is expected to improve affordability and encourage participation in upcoming sales rounds.Read more

28 May 2025

Arvind SmartSpaces Ltd, a leading real estate developer headquartered in Ahmedabad, has reported a 24% increase in consolidated net profit for the fourth quarter of the financial year 2024-25, reaching INR 19.14 crore compared to INR 15.49 crore in the same quarter last year. This growth was supported by a substantial rise in total income. For the entire fiscal year, net profit more than doubled to INR 110.49 crore, while total income more than doubled as well. The board has proposed a final dividend, reflecting the company's strong financial health. Strategic expansions into Mumbai and Ahmedabad mark the company's efforts to diversify and strengthen its market presence.Read more

28 May 2025

Ahmedabad Municipal Corporation is set to launch a self-assessment software that allows property owners to estimate future property tax liabilities for new constructions and property modifications. This step aims to simplify the property tax process by enabling taxpayers to receive preliminary tax calculations online before official validation. Alongside this, the AMC has witnessed considerable success with its advance property tax payment scheme, which has generated significant revenue and engaged over half a million citizens. The new software tool promises to bring transparency and ease to Ahmedabad's property tax system.Read more

28 May 2025

Century Real Estate, one of South India's major property developers, raised INR 1,850 crore in debt funding to strengthen its presence in Bengaluru's thriving residential and commercial property sectors. The funding round, led by Ares Asia and SC Lowy, will support both ongoing and upcoming developments. Ares Asia committed INR 1,600 crore in two instalments, while SC Lowy contributed INR 250 crore. This capital boost aligns with Century's broader strategy to capture rising market demand, particularly in the Grade A commercial and residential segments.Read more

28 May 2025

Amid pre-monsoon conditions and the looming onset of the rainy season, the Brihanmumbai Municipal Corporation (BMC) issued an urgent appeal earlier this week, urging slum dwellers in landslide-prone areas such as Vikhroli and Ghatkopar to move to safer locations. This directive comes after repeated warnings from civic officials and follows a pattern of landslide-related incidents recorded in recent years. With monsoon-related disasters, including landslides and house collapses, historically impacting hillside settlements, BMC's renewed focus highlights the growing risks and the need for preventive relocation in identified high-risk zones across the city.Read more

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06 May 2025

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01 Jan 1970

The Prayagraj Municipal Corporation (PMC) is preparing to launch a redevelopment initiative across 88 vacant and fenced plots located in localities such as Naini, Jhunsi, Phaphamau, Bamrauli, and Jhalwa. The plan involves constructing multi-storey buildings with commercial shops on the ground and first floors and residential flats above, aiming to boost the city's income while addressing the growing issue of illegal encroachments. Encroached municipal land especially in Kareli, Daraganj, Rasulabad and other densely populated areas is also set to be reclaimed. The civic body will soon present a detailed land inventory for formal approval before initiating construction and legal proceedings.Read more

01 Jan 1970

The central suburbs of Mumbai, particularly Sion and Mulund, are rapidly emerging as high-demand housing destinations, driven by robust infrastructure development and expanding metro connectivity. The introduction of new metro lines, including the Aqua Line and upcoming Line 4, has significantly enhanced access to key business districts, spurring residential interest and capital appreciation. These areas offer improved commute times, upgraded amenities, and redevelopment-led luxury housing, making them appealing to professionals and families alike. With the upcoming Navi Mumbai International Airport, central suburbs are strategically positioned for further growth and rising property values.Read more

01 Jan 1970

Sweden is set to relax its mortgage lending rules early next year to help first-time homebuyers enter the housing market more easily. Under the proposed changes, buyers will be allowed to borrow up to 90% of a property's value�up from the current 85%. Additionally, the requirement for borrowers with high debt levels to repay 3% of their loan annually will be scrapped. Housing Minister Andreas Carlson emphasized the need to balance affordability with financial stability. The move aims to support young families and first-time buyers amid growing concerns over housing access, without compromising safeguards against excessive household debt or market overheating.Read more

01 Jan 1970

The Prayagraj Municipal Corporation (PMC) is preparing to launch a redevelopment initiative across 88 vacant and fenced plots located in localities such as Naini, Jhunsi, Phaphamau, Bamrauli, and Jhalwa. The plan involves constructing multi-storey buildings with commercial shops on the ground and first floors and residential flats above, aiming to boost the city's income while addressing the growing issue of illegal encroachments. Encroached municipal land especially in Kareli, Daraganj, Rasulabad and other densely populated areas is also set to be reclaimed. The civic body will soon present a detailed land inventory for formal approval before initiating construction and legal proceedings.Read more

01 Jan 1970

The central suburbs of Mumbai, particularly Sion and Mulund, are rapidly emerging as high-demand housing destinations, driven by robust infrastructure development and expanding metro connectivity. The introduction of new metro lines, including the Aqua Line and upcoming Line 4, has significantly enhanced access to key business districts, spurring residential interest and capital appreciation. These areas offer improved commute times, upgraded amenities, and redevelopment-led luxury housing, making them appealing to professionals and families alike. With the upcoming Navi Mumbai International Airport, central suburbs are strategically positioned for further growth and rising property values.Read more

01 Jan 1970

Sweden is set to relax its mortgage lending rules early next year to help first-time homebuyers enter the housing market more easily. Under the proposed changes, buyers will be allowed to borrow up to 90% of a property's value�up from the current 85%. Additionally, the requirement for borrowers with high debt levels to repay 3% of their loan annually will be scrapped. Housing Minister Andreas Carlson emphasized the need to balance affordability with financial stability. The move aims to support young families and first-time buyers amid growing concerns over housing access, without compromising safeguards against excessive household debt or market overheating.Read more