British businessman Sukhpal Singh Ahluwalia has purchased a luxurious 11,416 sq ft apartment in DLF's The Camellias, Gurugram, for Rs 100 crore, marking the third such high-value transaction in the complex. This deal highlights the continued strong demand for luxury homes in India, with prices in Gurugram and Delhi now rivalling Mumbai's upscale areas. Source link...
The Telangana Housing Board is set to auction over 7.5 acres of prime residential land in Kukatpally, expecting to generate ₹500 crore. Alongside, 618 unfinished 3BHK flats in Pocharam and Gajularamaram will also be auctioned. Funds raised will support affordable housing projects and the Indiramma housing scheme, building on recent successful auctions. Source link...
Chandigarh has been chosen as one of the two locations in India for piloting the Land Stack project. A committee meeting was held to discuss its implementation. The project aims to create a transparent land records management system. It will provide a unified database for land details. This will streamline property transactions and urban planning. Source link...
MahaRERA has suspended registrations of 4,812 housing projects across Maharashtra due to developers' failure to update construction progress or seek extensions. These projects, concentrated in urban areas like Pune and Thane, face transaction bans and penalties. The move aims to enforce transparency and protect homebuyers' interests by ensuring project accountability and completion. Source link...
Apple India has leased approximately 2.7 lakh square feet of office space in Bangalore from Embassy Group for a decade, commencing April 3, 2025, with a starting monthly rent of Rs 6.3 crore. The iPhone maker, India's largest mobile phone exporter, is projected to pay over Rs 1,000 crore in rent and maintenance over the lease period, with a 4. Source link...
Mumbai's real estate sees a transformation. Builders redevelop old societies into taller towers. They gain higher Floor Space Index by housing project-affected people. This benefits residents with more space. However, increased density strains infrastructure. Authorities aim to balance development and public needs. Challenges remain in timely project completion and approvals. The focus is on ensuring...
To safeguard their profitability, SBI and Union Bank of India are increasing home loan spreads despite falling policy rates. This reverses the trend of passing rate cuts to new borrowers, as banks grapple with sticky deposit costs. Public sector lenders, previously focused on market share, are now prioritizing sustainable returns, signaling a potential shift in the home loan market. Source link...
Chief Minister Fadnavis expressed concern over rising Mumbai flat prices despite government concessions like reduced premiums. He urged builders to invest in developing Third and Fourth Mumbai, focusing on edutech and innovation hubs. Fadnavis also emphasized the need for faster slum redevelopment using new technologies to achieve a slum-free Mumbai. Source link...
The NCLAT has upheld the insolvency proceedings against Supertech Realtors, developer of the Supernova project, after a plea by Bank of Maharashtra over unpaid dues. A settlement proposal by Supertech's promoter was rejected by the consortium of banks. The appellate tribunal has allowed the formation of a Committee of Creditors to proceed with the insolvency resolution process. Source link...
Kriti Sanon has invested over Rs 78.20 crore in a sea-facing luxury duplex penthouse in Mumbai's Pali Hill, securing a 6,636 sq ft space across the 14th and 15th floors of Supreme Prana. The deal, costing around Rs 1.18 lakh per square feet, is one of the most expensive properties in the city's suburbs. Source link...