25 Jun 2025

The Supreme Court has ruled that builders must refund the purchase amount with agreed interest in case of delayed possession but are not liable to reimburse buyers' home-loan interest. The case involved a Mohali project where buyers withdrew due to a 2-3 year delay and sought both the refund with 8% contractual interest and their SBI loan interest. The Court allowed only the contractual interest, stating that developers are not responsible for buyers' private financing. The decision overturns earlier consumer forum rulings and affirms that builders' obligations stem from contracts and statutory terms-not from individual loan burdens taken by buyers.Read more

25 Jun 2025

The Uttar Pradesh cabinet has approved the Urban Green Policy, a statewide plan to embed sustainability into urban life through a tiered approach at city, neighbourhood, and building levels. Key features include Miyawaki forests, sponge parks, green belts, rooftop gardens, and green construction mandates. A 'Green City Monitoring System' will rank cities on eco-performance, aiming to award the top performer the 'Ultimate Green City' title. The policy rollout will begin in major metros and extend to all 762 urban bodies post-2030. Funded by central, state, and CSR sources, the initiative also promotes community participation through tree-planting drives, workshops, and real-time progress monitoring.Read more

24 Jun 2025

The BMC has launched a detailed land survey on a six-acre plot in Lower Parel after the Supreme Court denied ownership claims by Century Textiles and Industries Ltd. The survey, expected to take over a month, will document structures, encroachments, and tree cover. The land, leased in 1927 for worker housing, currently houses around 450 tenants. Aditya Birla Real Estate, linked to Century Textiles, has formally handed over possession. BMC has asked for the company's name to be removed from official records and is now exploring legal options on whether the land use can change and how existing residents should be re-accommodated.Read more

24 Jun 2025

India's commercial real estate sector is seeing a strategic pivot, with outdoor advertising evolving into a major revenue source. As malls become leisure destinations and office complexes adopt mixed-use models, developers are increasingly monetising outdoor spaces through high-impact digital displays, facades, rooftops, and transition points. Digital Out-of-Home (DOOH) advertising, valued at USD 284 million in 2024, is projected to more than double by 2030. With revenue shares from advertising reaching up to 12% in some commercial properties, both developers and tech firms are exploring innovative formats to maximise brand engagement in high-traffic zones.Read more

24 Jun 2025

The Enforcement Directorate (ED) has stepped up action against real estate fraud across India, freezing assets in cities like Delhi. A key case involves the 'Shine City' scam, a ponzi scheme that promised high returns on real estate and other ventures, allegedly swindling investors out of over INR 1000 crore. The ED has frozen INR 277 crore in assets so far. In another case, a Delhi commercial property worth INR 44 crore linked to Bhasin Infotech was attached. Over 100 investors reportedly paid for plots but never received them. These actions reflect the ED's push to tackle fraud and safeguard investor money in the real estate space.Read more

24 Jun 2025

In a significant step towards formalising housing access for the economically weaker sections, Odisha's Housing and Urban Development Department has introduced a structured plan to allot affordable homes on priority to urban poor currently staying in transit shelters across Bhubaneswar. The move, detailed under a newly released SOP, outlines eligibility criteria, verification norms, financial contributions, and prioritisation mechanisms, particularly favouring slum dwellers with no pucca homes and individuals with disabilities. This initiative aligns with the broader push under PMAY-Urban 2.0 and dovetails with 43 recently approved housing projects across 42 Urban Local Bodies (ULBs), aiming to boost urban inclusivity and housing equity.Read more

24 Jun 2025

The Chandigarh administration has cleared Adarsh Colony, an informal settlement between Sectors 53 and 54, reclaiming 12 acres of government land valued at INR 350 crore. Around 800 structures were demolished in the drive, part of a broader campaign to make the city slum-free. Officials said the area was under illegal occupation for 2.5 years, despite relocation offers to eligible families. Earlier this year, Janta Colony and Sanjay Colony were also cleared, bringing the total reclaimed land to over 500 acres from 18 major slums. Only Shahpur Colony remains, with future action planned. The campaign supports Chandigarh's original planned city vision.Read more

24 Jun 2025

The BMC's first attempt to lease out three prime land parcels;at Malabar Hill, Worli, and near Crawford Market;for long-term revenue has faced setbacks. The Malabar Hill plot was withdrawn after objections from BEST and local residents citing its designation as a public garden. At Crawford Market, Central Railway requested a portion for a skywalk-linked passenger outlet, complicating the full-site tender. Meanwhile, the RBI showed interest in the Worli parcel but didn�t submit a bid. BMC is evaluating the received bids, aiming to raise funds for major projects like the Dahisar�Mira Bhayander coastal road and Mulund-Goregaon tunnel by monetising dormant land.Read more

23 Jun 2025

GIDA has begun allotting plots in the newly planned Dhuriyapar Industrial Township after receiving clearance from Chief Minister Shri Yogi Adityanath. Spanning over 600 acres across 17 villages, the project will be Purvanchal's largest industrial land bank. Plot allocation has started in two sectors, with land acquisition ongoing. The region is evolving into a key industrial corridor with plans for electronics, cement, biogas, and distillery units. Backed by infrastructure like the Gorakhpur Link Expressway and a new rail link, the township is expected to generate over 10,000 jobs. Major firms like Adani and JK Group have expressed interest, supporting GIDA's INR 25,000 crore investment push.Read more

23 Jun 2025

The Maharashtra Urban Development Department has approved four key town planning schemes by PMRDA, covering 520 hectares in Autade-Handewadi, Holkarwadi, and Vadachiwadi. These align with Pune's 82 km ring road plan and follow a land-sharing model where landowners receive 50% of developed plots. Each scheme gets INR 25 crore from the Centre, with PMRDA allocating INR 125 crore. Two other schemes-Maan Mhalunge and Manjari Khurd Kolwadi-remain stalled due to zoning and technical issues. Officials and locals voiced frustration over delays impacting infrastructure and real estate development. Timely clearance is critical to access central funds and drive organised growth across the Pune Metropolitan Region.Read more