2024

Several banking firms and asset management companies have of late bought commercial properties in Mumbai rather than take them on lease. A case in point is Nippon Life India Asset Management Ltd that recently acquired two premium commercial properties at One Lodha Place in Mumbai's Lower Parel locality for a combined value of ₹486.03 crore. Several banking firms and asset management companies...

Most real estate markets across the country, especially Mumbai and Pune are expected to approach optimal affordability levels by 2025 with a projected interest rate cut on the horizon, while Kolkata is set to maintain its status as the most affordable market, potentially hitting new peaks, according to JLL’s Home Purchase Affordability Index (HPAI). Rate cuts may help optimize home...

Bollywood actors have been in the news for buying and renting out commercial and residential properties in the Mumbai real estate market, which is one of the costliest real estate markets of the country. Earlier this month, Bollywood actor Shahid Kapoor and wife Mira Kapoor rented out their luxury apartment in the Worli area of Mumbai at a rent of ₹20 lakh per month for five years.(Instagram)...

The Bengaluru-versus-other-cities rivalry has found a new contender in Hyderabad. A post on X, accompanied by images showcasing Hyderabad's impressive tech parks and high-rises, has declared, “Hyderabad is the new Bangalore.” Housing prices in Hyderabad saw an 11 per cent increase in 2023.(X/@venkyHQ) X user Venkatesh Gupta, a product manager, has ignited a debate on the platform,...

In the wake of recent concerns over Delhi-NCR’s worsening air quality, new data has revealed that several cities in Karnataka are among the cleanest in terms of air quality. While Bengaluru itself is not part of the group, seven out of the 13 cities in India currently ranking in the 'Good' AQI category are in Karnataka, according to a recent report by the Central Pollution Control Board (CPCB),...

GREATER NOIDA: The Gautam Budh Nagar district administration has called upon Apartment Owners Associations (AOAs) and Residents Welfare Associations (RWAs) to comply with the newly implemented UP Lift and Escalator Act, 2024, and the UP Lift and Escalator Rules, 2024, administrative officials said on Monday. The Act, that came into effect on September 25, 2024, aims to regulate construction,...

NOIDA: The Noida authority has been able to spend only ₹3.4 crore out of ₹30.9 crore collected in penalty from polluters since 2021-22. The fund was to be spent on measures to mitigate the air pollution, revealed a right to information (RTI) Act application reply. In its reply, the authority revealed that only 11 percent of the fund is spent and the rest remains to be used for measures to...

GREATER NOIDA: The Yamuna Expressway Industrial Development Authority (Yeida) has finalised the blueprint for constructing New Agra Urban Centre to be developed along the 165km Yamuna Expressway that connects Greater Noida with Agra. The New Agra will be developed on the agricultural land of 60 villages in the Etmadpur tehsil and will be divided into four key areas—industry, environment,...

Union Minister Piyush Goyal on November 25 urged real estate developers to adopt environment-friendly construction techniques and suggested that CREDAI set up a team to study the adverse impact of construction activities on air quality of 20 major cities. Union Minister Piyush Goyal on November 25 urged real estate developers to adopt environment-friendly construction techniques "I had asked...

Real estate body CREDAI, which is celebrating its 25th foundation day, has said the cap on affordable housing be increased from ₹45 lakh to ₹75- ₹80 lakh and suggested that 1% GST be charged on under construction housing units priced in the range of ₹75 to ₹80 lakh. The government should charge 1% GST on under-construction housing properties, costing up to ₹75-80 lakh each, to boost...