04 Jul 2025

The Ghaziabad Development Authority (GDA) has commenced direct land purchases for its ambitious Harnandipuram township project, covering over 336 hectares across five villages. Farmers have begun receiving compensation at four times the notified circle rate, with a total payout exceeding INR 5 crore so far. The project also promises 10% of developed plots to landowners, setting a more inclusive precedent. A detailed project report is being finalised, while major connectivity upgrades, including elevated road extensions to the RRTS and Delhi-Meerut Expressway, are also in the pipeline. This marks GDA's most extensive land initiative since Madhuban Bapudham.Read more

04 Jul 2025

Actor-director Aatish Kapadia and his wife Alison Kapadia have purchased a 3,030 sq ft luxury apartment in Goregaon, Mumbai, for INR 15.31 crore. The transaction was registered on June 25, with INR 91.86 lakh stamp duty paid. Located in Oberoi Realty's Elysian, the apartment includes three parking spaces. This acquisition highlights Goregaon's appeal as a well-connected hub for professionals and creatives. Other transactions in the same project totaled INR 1,035 crore in sales over the last year, reflecting strong demand in Mumbai's luxury real estate market.Read more

04 Jul 2025

Leasing of office spaces for Global Capability Centres (GCCs) in India rose by 24% to 31.8 million sq ft across seven major cities last fiscal year. GCCs accounted for 42% of pan-India office absorption in 2024-25. This growth, detailed in a Vestian report, is driven by India's skilled talent, cost benefits, infrastructure development, and favorable policies. Bengaluru led in GCC office space absorption, followed by Mumbai. GCCs are expected to further increase their market share, reflecting India's appeal as a global operations hub for conglomerates.Read more

04 Jul 2025

The Gujarat government has allocated 10 acres of land in the Dholera Special Investment Region (SIR) to the Tata Group for constructing residential apartments for its employees. This move supports Tata Electronics' (TEPL) INR 91,000 crore semiconductor fabrication unit in Dholera, India's first. The overall housing plan for Dholera's industrial ecosystem involves 1,500 serviced apartments. The Dholera SIR, envisioned as a greenfield smart city, is developing extensive civic infrastructure alongside industrial growth, aiming to create over 20,000 jobs and become a global semiconductor hub.Read more

03 Jul 2025

The Dharavi Redevelopment Project (DRP) has released its first eligibility list, identifying over 75% of tenement holders as eligible for new homes under the ambitious slum redevelopment initiative. The list covers 505 households in Mahim's Meghwadi and Ganesh Nagar, with 229 already cleared for resettlement and many others pending documentation or verification. Notably, the project offers inclusive rehabilitation to both residential and commercial units regardless of eligibility status and includes upper-floor residents, a first in Mumbai's redevelopment history. Residents have been invited to file objections or suggestions before the eligibility list is finalised.Read more

03 Jul 2025

The Allahabad High Court has allowed the registration of 220 flats in Noida's Grand Omaxe and Forest Spa projects after the developer offered to deposit an additional INR 25 crore with the Noida Authority. This payment is part of a broader settlement where the developer had already paid INR 93 crore. The ruling addresses a dispute that began in 2018 over denied sub-lease deeds due to unpaid dues, affecting 1,692 sanctioned flats. The court's decision, which follows the Uttar Pradesh government's December 2023 rehabilitation policy for stalled projects, clears hurdles for occupancy certificates and aims for finalization of home deliveries.Read more

03 Jul 2025

Keystone Realtors Ltd has secured a significant cluster redevelopment project in Andheri West, one of the city's most sought-after residential neighbourhoods. The developer has been appointed by eight housing societies for the redevelopment of a 4.75-acre parcel that currently houses 548 members. With development agreements already executed with five societies and Letters of Intent (LoIs) from the remaining three, the project is projected to create 10.6 lakh sq ft of saleable area, generating an estimated Gross Development Value (GDV) of INR 3,000 crore. This marks a major step in Keystone's strategy to strengthen its presence across high-potential suburban micro-markets in Mumbai.Read more

03 Jul 2025

Thiruvananthapuram has emerged as Kerala's fastest-growing real estate hub, surpassing even Ernakulam in residential unit registrations under the Kerala Real Estate Regulatory Authority (K-RERA). The city registered 2,987 units in the past year, driven by increased demand from Non-Resident Indians (NRIs), IT professionals, and those returning to settle in their home state. Strong infrastructure, a thriving IT sector, accessible healthcare and education, and upcoming mega projects like Technocity and K-Space Park have made the capital city a preferred destination. Urban rejuvenation projects like the Smart City redevelopment are further enhancing liveability, offering both housing and long-term investment appeal.Read more

03 Jul 2025

Odisha's housing department launched a vigorous campaign this past week to accelerate the verification of beneficiary-led PMAY-U 2.0 applications, which have been processing at a disappointing pace. With over 82,000 applications submitted since January, fewer than 17% have been verified and just 14.5% forwarded as proposals. The state has now instructed urban local bodies to boost public awareness in areas lagging behind and expedite both verification and sanctioning. The department is also ensuring that work orders follow quickly for approved units.Read more

02 Jul 2025

The Telangana government has changed its approach to urban housing by introducing G+3 Indiramma apartments directly within slum areas across Hyderabad and other cities. This shift comes after the previous model of relocating beneficiaries to the outskirts led to a low occupancy rate only 13,000 out of 42,000 flats were occupied. Sixteen slums in Hyderabad are part of the initial rollout, with Warangal, Nizamabad, Mahbubnagar, Nalgonda, and Karimnagar also identified for the vertical in-situ model. The government is also providing housing to tribal communities and has implemented support measures like free sand, discounted cement proposals, and INR 5 lakh unit grants to push stalled 2BHK completions.Read more