Tenants in New York City’s 1 million rent-stabilized apartments are on track to face the third year in a row of rent increases as renters and landlords grapple with rising costs. The city’s Rent Guidelines Board on Tuesday endorsed potential rent hikes of 2% to 4.5% for one-year leases and 4% to 6.5% for two-year leases. Price increases in those ranges are likely to be approved at a final vote in June.

Abhishek Lodha, Managing Director and CEO of listed real estate firm Macrotech Developers, operating under the Lodha brand, said that there are new players who have entered the Mumbai real estate market and the Lodha group welcomes their presence. He added that there is a long way for consolidation in the Mumbai market. Lodha was speaking during the earnings call for Q4FY24 last week. He said that Lodha’s market share in Mumbai is at around 10% and the market share of the top five developers in Mumbai is still in the mid-20s. “So, there is a long, long way of consolidation to go.

On April 23, the Income Tax Department issued a circular that gave some much-needed relief to many homebuyers issued tax deduction at source (TDS) notices due to the Permanent Account Numbers (PAN) of property sellers being inoperative. The circular gave the homebuyers a breather from the liability of tax notices against TDS deductions that fell short, provided the property sellers link their PAN and Aadhaar by May 31.

Once solely desirable for opulent living spaces, luxury real estate today has become a big investment avenue for affluent Indians to make huge capital gains. According to real estate experts, the burgeoning demand for luxury living in the National Capital Region, particularly in Gurugram, has led to a notable capital appreciation in the market. They said that luxury and super-luxury residences located at DLF Golf Links, DLF 5 in Gurugram such as The Camellias, The Magnolia and The Aralias have witnessed a price appreciation of around 125 percent between 2021 and 2024.

Investments in residential real estate jumped more than three times in January-March to Rs 5,743 crore, contributing 63 per cent to the overall inflow in the real estate sector, according to Cushman & Wakefield. In its capital markets report released on Wednesday, real estate consultant Cushman & Wakefield highlighted that the investments in real estate rose to Rs 9,124 crore during the first quarter of the current calendar year from Rs 8,830 crore in the year-ago period. Of the total investment, the inflow in the residential segment jumped to Rs 5,743 crore from Rs 1,735 crore.

Over the last few years, the Indian real estate sector has observed a notable shift, as homebuyers are increasingly looking out for serene and offbeat destinations that are far away from the hustle and bustle of metropolitan cities. Cities like Sonipat, Bhiwadi, Panchkula, and Meerut have emerged as premier locales for residential investments, boasting a blend of natural beauty, cultural richness, and a growing economy. This transition reflects a desire for a better quality of life, where serenity meets modern amenities in a relaxed environment.

Around 520 lakh square feet of office space is eligible for small and medium REITs (SM-REIT) listing, creating a monetization opportunity of ₹67,000 to ₹71,000 crore. (Picture for representational purposes only). As of December 2023, the total Grade A office supply stood at 9800 lakh sq ft and Grade B office at 1150 lakh sq ft across the top seven cities. At a cap rate of 8-8.5%, SM REIT-ready office space provides monetization opportunities of Rs. 67,000 to ₹71,000 crore across top seven cities.

Toile design, pronounced “twall,” is a timeless and intricate pattern that originated from printed cotton fabric in France. It was traditionally made with a single ink colour, printed on a white background. Toile de Jouy, a specific type of toile, became popular in the late 18th century and was favoured by the wealthy Parisians and even Marie Antoinette. The design features pastoral scenes and was influenced by the Rococo movement.

The committee formed by National Green Tribunal (NGT), to look into the environmental implications of constructing a new district collectorate in Professor’s Colony, has found that the environmental clearance for the project was granted based on “incorrect data” and has recommended that the clearance be revoked.

The Greater Noida Industrial Development Authority (GNIDA) is likely to conduct e-auction of its group housing plots located across different sectors in June 2024 after the Lok Sabha elections across the country are over, people aware of the matter said. Earlier the e-auction of group housing plots was to be conducted in April but it was postponed because of general elections. Under the scheme, the Authority had put on sale eight group housing plots across six different sectors.