07 May 2026

Builders FirstSource has revised its 2026 revenue forecast downward due to continued weakness in the residential housing market. The company reported lower-than-expected first-quarter earnings and a decline in net sales compared to the previous year. Housing demand has remained under pressure because of high property prices and elevated interest rates, affecting affordability for buyers. Alongside the revised outlook, the company has also approved additional share buybacks, taking its total repurchase authorization to USD 500 million. The update reflects broader challenges being faced by construction and housing-related businesses.Read more

07 May 2026

National Company Law Appellate Tribunal has set aside an earlier order of the National Company Law Tribunal that admitted insolvency proceedings against Embassy Development, ruling that the application filed by Canara Bank was barred under Section 10A of the Insolvency and Bankruptcy Code (IBC). The tribunal held that the alleged default fell within the protected period introduced during the COVID-19 disruption, during which fresh insolvency proceedings were restricted. The case relates to a INR 200 crore claim linked to a corporate guarantee extended for a loan to Indiabulls Realtech. The appellate tribunal also criticised the lender’s approach, observing procedural lapses in filing the insolvency plea.Read more

07 May 2026

Mumbai has initiated its first fully digital Census exercise, assigning a unique ID to each household to streamline data collection. Conducted by the Brihanmumbai Municipal Corporation, the process uses mobile-based enumeration and also allows residents to self-enumerate. The exercise was delayed from its earlier schedule due to the pandemic. The first phase focuses on housing conditions and basic amenities, while the second phase, scheduled for February–March 2027, will capture population data. Officials expect the digital approach to improve accuracy, reduce duplication, and support better urban planning.Read more

07 May 2026

Hyderabad, Bengaluru and Chennai recorded combined sales of 811 ultra-luxury homes priced at INR 10 crore and above during FY26, with total transaction value reaching INR 11,246 crore, according to a report by India Sotheby’s International Realty and CRE Matrix. Hyderabad accounted for the majority of transactions, followed by Bengaluru and Chennai. The report highlights differentiated demand patterns across the three cities, with variations in pricing, unit sizes, and buyer preferences shaping the ultra-premium residential segment in southern India.Read more

07 May 2026

Elan Group has commenced construction of its ultra-luxury residential project, Elan The Statement, in Sector 49, Gurugram, following the award of an INR 840 crore construction contract to Tata Projects. Spread across approximately six acres, the development entails a planned investment of around INR 1,600 crore and will feature five residential towers with unit sizes ranging from about 4,285 sq ft to 7,270 sq ft. Designed by international firms, the project reflects continued activity in the premium housing segment in Gurugram. The launch of construction marks a key milestone in the execution timeline, with the developer strengthening its presence in the high-value residential market.Read more

07 May 2026

Mumbai registered 14,228 property transactions in April 2026 within the Brihanmumbai Municipal Corporation (BMC) limits, marking a 9 per cent year-on-year increase and the highest April performance in 14 years, according to Knight Frank India. Stamp duty collections crossed INR 1,100 crore, rising marginally by 1 per cent, indicating a shift towards mid-ticket housing. While registrations declined from March’s peak levels, the data reflects sustained end-user demand across primary and secondary markets. The trend highlights stable housing activity in the city, supported by consistent buyer participation despite a high base.Read more

Mumbai News Desk

06 May 2026

The Bombay High Court has directed the Maharashtra government to refund INR 3 lakh in stamp duty to a homebuyer, holding that the amount was wrongly retained due to a procedural delay. The case relates to an incorrect stamp duty payment made during a property transaction, where the buyer selected the wrong category while purchasing e-stamps. Authorities had rejected the refund request citing a delay beyond the statutory six-month period. However, the court ruled that such technical grounds could not override a legitimate claim, particularly when the stamp was unused. The judgment reinforces judicial scrutiny over administrative decisions impacting homebuyers in property transactions.Read more

06 May 2026

Sobha Ltd reported a more than two-fold increase in consolidated net profit to INR 91.83 crore for the March quarter of FY26, supported by a significant rise in total income. The company’s quarterly income grew to INR 2,029.92 crore from INR 1,270.73 crore a year earlier. For the full financial year, profit also doubled to INR 193.40 crore, while total income rose to INR 5,383.76 crore. The Bengaluru-based developer’s performance reflects improved revenue generation across its operations during the period, indicating stronger business activity compared to the previous financial year.Read more

06 May 2026

Guangzhou, a major city in southern China’s Guangdong province, has introduced a set of measures aimed at stabilising its property market amid a prolonged slowdown. The new guidelines expand access to mortgages under the housing provident fund programme and offer subsidies of up to USD 4,395 per housing unit for eligible buyers who purchase a new home by the end of 2026 and sell their existing property within a year. The city is also promoting state-backed purchases of second-hand homes and encouraging private investment in urban renewal, while strengthening protections for homebuyers.Read more

06 May 2026

The Karnataka government has approved an integrated suburban township project worth around INR 18,000 crore near Bengaluru, covering nearly 7,481 acres in Bidadi and Ramanagara. Planned as a mixed-use development, the project will include residential, commercial, and industrial spaces. Around 6,650 acres will be acquired from private landowners with compensation options in cash or developed land. The project will be funded through institutional borrowings, state support, and land monetisation. It is expected to decongest Bengaluru and support planned expansion by creating a new economic and residential hub.Read more

06 May 2026

The Telangana government has directed officials to complete the allocation of 2BHK houses to eligible beneficiaries by the end of the ongoing month, as part of efforts to accelerate housing delivery under state schemes. The instruction, issued in the past week by Housing Minister Ponguleti Srinivasa Reddy, emphasises prioritising completed and near-complete units while ensuring strict beneficiary verification. The move follows concerns over vacant houses, delays in allotment and irregularities in earlier phases. Authorities have also been asked to address ineligible occupancy and streamline the allocation process, with financial assistance and infrastructure support continuing under the broader Indiramma housing framework.Read more

05 May 2026

The Maharashtra Housing and Area Development Authority (MHADA) has reduced prices of 1,221 flats in Vikhroli by 7.5% after receiving a muted response from buyers in its housing lottery. The price cut lowers unit rates by around INR 10 lakh, bringing them to a range of about INR 1.34 crore to INR 1.37 crore. The authority has also added one free car parking space per flat and extended the application deadline to improve participation. The move reflects growing competition from private developers offering similar pricing with better amenities.Read more

05 May 2026

Lodha Developers Ltd has outlined plans to launch residential projects worth around INR 21,800 crore in the current financial year, spanning 15 million sq ft across the Mumbai Metropolitan Region, Pune, Bengaluru and Delhi-NCR. The developer is also targeting a 17 per cent increase in sales bookings to INR 24,000 crore, following a year of steady growth. While overall housing demand has moderated after a strong cycle, the company highlighted continued performance driven by branded developers. Lodha reported improved financials in the previous year and indicated a calibrated approach to land acquisition, with a focus on enhancing free cash flow despite a substantial existing land bank and project pipeline.Read more

05 May 2026

The Maharashtra Real Estate Regulatory Authority has taken action against 8,212 housing projects for not updating their Quarterly Progress Reports within the mandated timeline. Out of 33,029 registered projects across the state, these cases of non-compliance have triggered show cause notices under the RERA framework. Developers have been given 60 days to respond and update records, failing which stricter measures may follow, including suspension or cancellation of registrations, penalties, and restrictions on sales and marketing activities. The move aims to strengthen transparency and protect homebuyer interests through timely disclosure of project details.Read more

05 May 2026

Mid-America Apartment Communities reported a marginal decline in its first-quarter core adjusted funds from operations, reflecting softer rental demand across key US housing markets. The company attributed this trend to rising apartment supply in cities like Austin, Memphis and Phoenix. Despite the dip, the REIT maintained a largely stable outlook for 2026, with only a minor adjustment to its earnings guidance. The performance highlights the ongoing supply-demand imbalance in certain residential markets, even as long-term fundamentals for rental housing remain steady.Read more

Delhi News Desk

05 May 2026

The Delhi Development Authority (DDA) has extended the payment deadline for allottees of flats under its Towering Heights housing scheme until the end of June, following requests from buyers seeking additional time to complete formalities. Announced in the past week, the extension applies to successful applicants who were required to deposit payments within a stipulated period after allotment. The move is aimed at improving conversion of allotments into final ownership, reducing cancellations and supporting buyers facing financial or procedural delays, while maintaining momentum in the authority’s housing delivery programme.Read more