Haryana government will acquire land for 24-metre roads in city colonies. Builders will bear the acquisition and development costs. This move aims to resolve long-standing issues of narrow access roads. The plan is set for implementation in 2026-27. Residents welcome the intervention, anticipating improved connectivity and structured development. Source link...
Mumbai's civic body has passed a motion to raise the property tax exemption for residential units from 500 to 700 sqft. This move aims to ease the financial burden on middle-class families, particularly those in redeveloped slum properties. While the proposal requires administrative approval, it reflects a key election promise to retain original Mumbaikars in the city. Source link...
Gurugram police have arrested Puneet Beriwala, CEO of Vipul Limited, for allegedly duping lawyers of Rs 6 crore. Beriwala promised high returns on an investment in a real estate project but failed to deliver. He has been sent to two-day police custody for further investigation. Source link...
State-owned NBCC will seek Supreme Court exemption from RERA registration for 11 of Supertech's 16 projects requiring fund infusion. The company plans to divert surplus cash and raise funds from financial institutions to complete the stalled housing projects, aiming for delivery within three years. Source link...
The agreed rental stands at Rs 125.05 per sq ft per month, translating into a monthly outgo of over Rs 1.68 crore. The rent is inclusive of fit-outs, indicating that the space will be delivered in a ready-to-use format, reducing upfront capital expenditure and speeding up operational readiness. Source link...
The SWAMIH Investment Fund I has approved up to ₹115 crore for the stalled Antriksh Valley project in Greater Noida West. This funding will facilitate project completion, including a redesigned residential tower, after the new management cleared land dues and resolved homebuyer claims. The investment aims to restore homebuyer confidence in stalled housing projects. Source link...
The Enforcement Directorate has attached land valued at Rs 598 crore in Agra. This action is part of a money laundering investigation targeting Ansal Properties and Infrastructure Ltd. The case involves significant irregularities in land acquisition and release in Gurugram, Haryana. The agency alleges a fraudulent process led to land being released to private developers. Source link...
Merlin Prime Spaces, a subsidiary of the Kolkata property developer, is looking to build a commercial project on the land parcel with a total investment of over Rs 1,000 crore including the land cost. Source link...
Realty major Lodha Developers has secured development rights for a significant 4.3-acre land parcel in Mumbai's upscale Malabar Hill. The deal is valued at an estimated Rs 2,800 crore. This acquisition highlights Lodha's focus on premium housing. The transaction involves upfront payments and a revenue share with the land-owning trust. Source link...
Mumbai is embracing large-scale cluster redevelopment to tackle housing challenges. MHADA plans to open vast land parcels for integrated projects. This strategy aims to create planned residential areas with better infrastructure. The goal is to deliver millions of affordable homes by 2030. This approach will generate significant housing stock for lower-income groups. Source link...