The standing committee is considering revising a previously approved property tax hike to fund 24x7 water supplies, which faced opposition from various political parties.
Pune's residential property market saw 4-6% price growth in 2016, driven by high demand and IT/ITeS sector growth, with affordable housing emerging as a key trend.
Bangalore real estate market tops private equity investment, receiving Rs 1,990 crore in the first three quarters of 2013. Other cities such as Pune and NCR also witness significant growth.
Credai Maharashtra highlights concerns of a 22% sales dip in real estate, attributing it to inflation, high interest rates, and regulatory delays, while affirming Pune's relative stability.
Housing prices rose up to 6% in 12 Indian cities, while 10 cities saw a decline of up to 9% in Q2 FY24. Delhi-NCR experienced a 5% dip QoQ but a 7% YoY surge.
Credai Maharashtra praises state's decision to reserve 20% of flats for the weaker section in developments on one acre of land. The policy aims to reduce slums and provide affordable housing.
Experts predict that a decline in office space supply will pressure rental values, while corporate relocation and economic factors affect demand across major cities.
Shapoorji Pallonji Group plans to expand its IT parks by 52%, adding 2 million sq ft to its existing 5 million sq ft portfolio across India.
Pune real estate has seen significant price growth since 2011, but sales have recently slowed. It remains more affordable than Mumbai and NCR, supporting its market.
The report highlights the fluctuations in mall vacancy rates across various Indian cities, influenced by leasing activity and the supply of new retail spaces.
Property prices may drop 12-17% in Delhi-NCR, Mumbai, and high-end markets by next Diwali, as developers aim to reduce inventory and increase sales. New launches have decreased significantly.
Vastubodh Projects secures ₹40 crore from Avenue Partners for affordable housing projects, particularly AnandGram, to boost their development efforts in Pune.
Indian real estate deliveries face significant delays in 2013, impacting homebuyers. NCR lags behind, while Pune and Mumbai show better performance. Factors such as capital shortage, over-leveraging, and land availability contribute to the slowdown.
Godrej Properties plans to raise ₹700 Cr through a rights issue to fund new and ongoing projects across key Indian cities. The company aims for growth despite previous market sluggishness.
Home sales across major Indian cities continue to plummet despite developers offering incentives, with Hyderabad experiencing the steepest decline of 46%.
Bangalore leads India with seven housing projects for seniors, surpassing other cities like Chennai and Pune, according to a JLL report focused on senior housing development.
PMC postpones proposal to reduce property tax discount from 10% to 5% for 2 months
House of Patels Group plans to develop a luxury residential or hotel project in India, potentially collaborating with Ritz Carlton.
Steelcase, a US-based furniture company, leased 50,000 sq. ft. of office space at IndoSpace Industrial and Logistics Park in Chakan to set up its first production unit in India.
The MCHI-CREDAI Property Expo 2013 in Mumbai has seen a huge turnout of buyers, indicating robust interest despite market challenges, showcasing over 15,000 properties.
Bangalore and Mumbai dominate private equity real estate investments in India, attracting over 84% of total funding, while Delhi's contributions remain primarily theoretical.
US real estate major Trump seeks to expand its presence in India with luxury housing projects in Mumbai and NCR.
Maharashtra government introduces e-payment of stamp duty for property transactions exceeding ₹5000, streamlining the process and enhancing security. The initiative begins in Mumbai and Pune.
SEBI warns public against dealings with two Sahara Group firms due to property attachments. Movable and immovable properties of Sahara India Real Estate Corp Ltd and Sahara Housing Investment Corp Ltd, including those of three promoters, are attached. Investors cautioned against business relations.
ICICI Venture, a major Indian private equity firm, secured approximately $700 million last year through real estate and other funds. The firm plans further investments in key Indian cities.