Daily Real Estate Newspaper
Welcome to the latest edition of?PNT Real Estate Daily! Through our digital only newspaper, we aim to provide a 360 degree coverage of the latest events, stories, updates and occurrences from the real estate industry from around the world.
Subscribe for daily updates.
The evolution of real estate promotion highlights the need for focused marketing strategies over traditional mass communication and generalized digital campaigns. While analog methods like billboards and digital media offer wide reach, they often result in wasted effort due to their "machine gun" approach, creating either a cacophony or white noise. Instead, real estate advertisers should target niche audiences through property expos, seminars, real estate-focused platforms, and influencer networks, such as architects or mortgage lenders, who interact closely with potential buyers. By aligning relevant messaging with receptive audiences, businesses can enhance brand awareness, drive meaningful engagement, and optimize conversions in the real estate sector.
The Mumbai Metropolitan Region Development Authority (MMRDA) has secured USD 40 billion (INR 3.5 lakh crore) in investments through 11 Memorandums of Understanding (MoUs) at the World Economic Forum in Davos. These agreements, encompassing urban transport, infrastructure, and technological advancements, aim to drive economic growth and innovation in the Mumbai Metropolitan Region (MMR) over the next 3–5 years. With participation from global giants such as Crossrail International, Blackstone Inc., and Temasek Capital, the partnerships reinforce MMR's position as a global investment hub, aligning with Maharashtra's USD 1 trillion economy target.
Leading companies including Adani Ports, DP World, and Vedanta have expressed interest in the INR 7,056 crore Thoothukudi outer harbour project following revisions to the Viability Gap Funding (VGF) cap, now set at INR 1,950 crore. The project, re-tendered after initial low response, involves dredging, reclamation, and breakwater construction under a DBFOT model to develop two container terminals with a combined 4 million TEU capacity. Phase one, costing INR 4,494 crore, will develop berths I and II, followed by phase two at INR 2,561 crore for berths III and IV. Improved eligibility criteria and financial incentives aim to attract more bidders, with rail-road linkages planned to enhance connectivity.
The Gujarat government, under Chief Minister Bhupendra Patel, has approved INR 605.48 crore for urban development projects across various municipalities under the Swarnim Jayanti Mukhyamantri Shaheri Vikas Yojana (SJMSVY). Key allocations include INR 88.88 crore for railway overbridges in Dwarka and Dhrangadhra, INR 112.53 crore for water supply schemes in Khambhat and Dahod, and INR 99.89 crore for stormwater drainage in Bhavnagar. The plan also includes INR 40 crore for new gardens, INR 39 crore for libraries, and INR 104 crore for Vadodara’s modernization efforts. The initiative aims to enhance urban infrastructure, improve public amenities, and boost environmental sustainability across Gujarat.
The Ahmedabad Municipal Corporation (AMC) has unveiled an ambitious plan to achieve Net Zero City status by 2070, focusing on air pollution reduction and environmental conservation. A key component of the initiative is the proposed auction of unutilized floor space index (FSI) via transferable development rights (TDR), expected to generate INR 1,000 crore annually. The funds will support projects such as lake conservation and urban forestry. The policy, submitted for state approval in July 2024, aims to balance urban growth with sustainability while ensuring transparency through a dedicated oversight committee. Developers have shown high interest, highlighting the initiative's potential economic and environmental impact.
The Kanpur Development Authority (KDA) is accelerating efforts on the long-awaited New Kanpur City project, covering 53.31 hectares in its first phase across several villages. With 45 hectares acquired and local farmers agreeing to contribute 5 more, KDA is working to secure the remaining 39.69 hectares with a state government nod expected soon. A budget of INR 183.5 crore has been allocated for essential infrastructure like roads, sewerage, and water supply. Efforts to reclaim encroached lands valued at INR 8 billion are also underway. The project aims to create a modern, well-planned urban hub to accommodate Kanpur’s growing population.
The Pune Municipal Corporation (PMC) has intensified its crackdown on unauthorized constructions, demolishing over 125 illegal structures in Shivejinagar, Chandannagar, and Kondhwa. The drive targeted encroachments on Maha Metro land near Dengale Bridge and unauthorized shops and food stalls operating without permits. Despite prior warnings, many continued operations, prompting immediate action. The initiative is part of PMC’s ongoing efforts to maintain public order and compliance with building regulations. As Pune faces rapid urbanization, such measures are crucial for ensuring organized development and preserving public spaces across the city.
Maharashtra's registration department is set to introduce an online tenant verification system by February, eliminating the need for physical visits to police stations. The system will integrate data from over 1,130 police stations and cover 44,000 villages, streamlining the leave and licence agreement process. Previously delayed due to technical issues, the upgraded e-registration system will enhance efficiency, with 85,000 to 90,000 agreements processed monthly. Property owners in rural Pune must also submit tenant details to local police to ensure community safety. Stakeholders welcome the initiative, expecting improved transparency and reduced bureaucratic hassles for landlords and tenants alike.
Delhi RERA is set to introduce new guidelines to enhance transparency in the real estate sector, mandating builders to advertise projects based on carpet area rather than super built-up area. Chairman Anand Kumar emphasized that this measure will help buyers make informed decisions. Additionally, developers may seek exemptions from GRAP measures if restrictions last over three days. The authority also plans strict action against unregistered projects, reinforcing compliance. These steps aim to improve buyer confidence, address industry concerns, and create a more transparent and accountable real estate market in Delhi.
Unauthorised encroachments in Aligarh's Tappal-Bajna area are jeopardizing YEIDA's INR 1,040 crore logistics park project, part of its Master Plan 2031. The 364-acre park, crucial for catering to NCR's cargo demands, faces challenges as residential plot registrations surge, making future evictions difficult. Despite YEIDA's land acquisition efforts, unauthorized sales persist, with prices ranging from INR 15,000 to INR 25,000 per sq. meter. In response, YEIDA has urged the Aligarh administration to halt registrations and plans an anti-encroachment drive. Collaboration between authorities is essential to safeguard the project’s progress and ensure the area's industrial potential is realized.
Madhya Pradesh CM Mohan Yadav announced the establishment of a Municipal Corporation in Vidisha, aiming to boost infrastructure and streamline governance in the historically significant region. The initiative aligns with the state's broader development vision, which includes integrating Vidisha Medical College with the District Hospital and prioritizing irrigation projects to support local farmers. CM Yadav also marked the Griha Pravesh ceremony for over 8 lakh families under the Pradhan Mantri Awas Yojana-Gramin, with investments totaling INR 12,636 crore. The move is expected to enhance local governance and economic growth, positioning Vidisha as a model for urban development.
Nashik Municipal Commissioner Manisha Khatri has introduced a streamlined approval process for construction projects, delegating sanctioning authority based on project size and risk category. Junior engineers will now approve low-risk residential projects, while larger developments up to 8,000 sq. meters will require approval from higher officials, with only projects over 12,000 sq. meters needing commissioner clearance. The reform aims to reduce delays and simplify procedures, addressing concerns from developers and residents. Khatri's administration is also exploring technology solutions to enhance transparency and communication, positioning Nashik for more efficient urban development and investment growth.
In a major relief for Meghdutam housing project residents in Sector 50, Noida, the Allahabad High Court has directed the Noida Authority to proceed with flat registrations, resolving years of delay. The interim order, issued on January 15, follows a petition by 19 residents who paid in full but lacked property documents. TGB Infra Developers, facing financial difficulties with dues of INR 43.7 crore, failed to clear 25% of recalculated dues. With a crucial hearing set for February 6, residents hope to finalize eligible homebuyer lists and expedite registrations under state policies prioritizing stalled projects.
The Hubballi-Dharwad Municipal Corporation (HDMC) has launched the e-AASTHI Tax Mela to facilitate property registration and tax payment, aiming to achieve full implementation of the digital system. Inaugurated by District Minister Santosh Lad, the mela offers dedicated counters for online registration and document updates. With 100,000 of 330,000 properties already registered, HDMC aims to improve compliance and reach its INR 141 crore tax target by March 2025. The initiative provides on-the-spot assistance, enhancing public services and encouraging timely tax payments to support the region’s financial health and governance.
Aligarh Muslim University (AMU) has been issued a notice by the Aligarh Municipal Corporation (AMC) to clear pending house tax dues of INR 24.4 crore within 15 days, failing which legal action may follow. The dues, linked to 18 properties, have accumulated since 2017. AMC has warned of account attachment if payments are delayed. AMU officials confirmed they are awaiting a grant from the UGC to settle the amount. The case underscores the financial strain on educational institutions reliant on government funding and raises questions about managing tax obligations and financial planning in the sector.
The Ahmedabad Municipal Corporation (AMC) has intensified efforts against property tax defaulters, sealing 1,218 properties in the East Zone and 239 in the South Zone, recovering INR 65.62 lakh. Defaulters have been warned of service disconnections and potential property auctions if dues remain unpaid. AMC’s tax collections have dropped to INR 1,695.54 crore for FY 2024-25, only 78.76% of last year's INR 2,152.82 crore, raising financial concerns. The corporation plans to enhance tax compliance through public awareness and digital payment solutions to ensure continued funding for essential services and infrastructure development across Ahmedabad.
The New Town Kolkata Development Authority (NKDA) has initiated property tax collection and mutation camps at residential complexes, aiming to boost compliance and revenue before the financial year ends in March. These on-site camps offer a hassle-free way for residents to update property records and pay taxes without visiting government offices. NKDA officials are providing guidance on documentation and tax processes, encouraging apartment owners to participate. With a growing population, the initiative aims to streamline tax collection, ensure accurate property records, and support the sustainable development of New Town.
The Bhubaneswar Municipal Corporation (BMC) has launched two digital platforms to enhance municipal services and improve market operations. In collaboration with a private bank, BMC developed a WhatsApp chatbot that allows residents to pay property taxes, trade license fees, and user charges while submitting grievances conveniently via smartphones. Additionally, Emer RND Solutions Pvt. Limited created a market/vending zone rental collection application, which BMC introduced to automate rental collections and enable real-time payment tracking. These initiatives aim to transform urban governance, streamline revenue processes, and promote transparency, reinforcing BMC's commitment to efficient, citizen-centric service delivery and sustainable urban development.
India has cemented its status as a premier hub for Global Capability Centers (GCCs), hosting over 825 centers for 450+ Global 2000 companies, according to the ANSR Q3 GCC Report. Bengaluru leads with 285 GCCs and 62% of the total leased space, followed by Hyderabad with 110 centers. North American firms dominate with 256 centers, while BFSI remains the top sector. In Q3 2024, GCCs leased 8.2 million sq. ft., accounting for 44% of total office leasing. With multi-center expansion and a focus on digital transformation, India is set to host 620 GCCs by 2030.
The Bank of Canada reduced interest rates to 3.25% to support the economy, leading to a 19.2% year-over-year increase in Canadian home sales, despite a 5.8% decline in December from November. The Canadian Real Estate Association (CREA) noted that the sales slowdown was likely due to limited supply rather than reduced demand. CREA forecasts a significant rise in demand in spring 2025, coinciding with lower interest rates and more homes being listed. The home price index rose slightly monthly but decreased annually.
GuocoLand has secured two green loans worth SGD 1.24 billion (USD 907.8 million) from DBS and OCBC to refinance its sustainable developments in Singapore. The bulk of the financing—SGD 1.14 billion—will be used for Guoco Midtown, a mixed-use project, while SGD 105 million is allocated for Midtown Bay, a luxury residential development. These loans align with Singapore’s sustainability goals and highlight GuocoLand’s leadership in green financing, having secured nearly SGD 5 billion to date. As demand for eco-friendly construction grows, GuocoLand's efforts set a benchmark for sustainable urban development in Singapore’s real estate market.
UK property website Rightmove reported a 1.7% rise in average asking prices for newly listed homes between December 8 and January 11, reaching GBP 366,189. This marks the highest January increase since 2020 but remains GBP 9,000 below the May 2023 peak. Despite rising property listings and buyer inquiries, affordability concerns persist due to high mortgage rates and uncertainty around interest rate cuts. The market’s outlook hinges on potential Bank of England rate reductions, with expectations of a cut from 4.75% to 4.5% in February. The upcoming expiration of tax relief on lower-priced homes in April may also influence buyer sentiment.
? A residential flat spanning 430 square feet sold in Neelu Apartment in Palghar's Nalasopara East for INR 25 lakhs? A residential flat spanning 425 square feet sold in Star Signature City - Star Emerald in Palghar's Kelwa for INR 22.5 lakhs
Flat owners that pay upwards of INR 7,500 per month in maintenance fees are liable to pay GST at the rate of 18% on the full sum paid. An individual who owns multiple apartments in the same housing society, will be taxed separately for each unit. Housing societies and Residents’ Welfare Associations that collect more than INR 7,500 per unit per month and have an annual turnover exceeding 20 lac rupees must pay 18% GST. These entities are entitled to claim ITC on tax paid by them on capital goods as well as maintenance and repair services.
To read the full news stories, head over to Prop News Time