Demand for smart spacious homes by millennials opting to relocate for better work opportunities in cities with growing infrastructure and air connectivity is likely to drive the property market in the near term in Indore that has witnessed a record registration of 1.7 lakh properties in FY 2024.

Millennials, people born between 1981 and 1996 have emerged as one of the top home seekers in Indore, said developers while the preferred budget range for purchasing homes remained Rs 55 lakh to Rs 90 lakh.

Several reports suggest that various cement companies in India are poised to increase prices by an average of ₹10-15 per bag. In North India, the prices of 50 kg bags will see a hike of ₹10-15, while the Western region may witness an increase of ₹20 per bag. Experts say that the rise in cement prices will directly impact the cost structure for developers and will alter the pricing landscape for consumers alike. “The recent surge in cement prices has sparked widespread concerns within the real estate sector.

The Reserve Bank of India (RBI) on April 5, 2024, left the repo rate unchanged at 6.50%. This is the 7th time in a row the banking regular has maintained a status quo on its key policy rate.  Cumulatively, the RBI hiked the repo rate by 250 basis points in FY23. How changes in repo rate impact homebuyers? Every time the RBI makes a change in the repo rate, homebuyers are told that the cost of borrowing will become higher/lower because of the upwards/downward change in the lending rate.

Lothal, arguably the world's oldest known dockyard of the ancient Indus Valley Civilization, which is believed to have existed 2200 BCE is soon to get its own decadal town development plan. Seven villages surrounding this site, located 75-km from Ahmedabad, will be incorporated into the plan. The work has been assigned to Ahmedabad Urban Development Authority's (AUDA) newly formed company Gujarat Town Planning Consultancy Limited (GTPCL).

The National Capital Region (NCR) has established itself as a bustling centre for business and commerce, with New Gurugram emerging as the epitome of luxury real estate. Strategically positioned next to Delhi, Gurugram offers a distinctive blend of elements that entices discerning homebuyers and investors in pursuit of an unparalleled living experience.

With the development authorities in charge of the Delhi suburbs of Noida, Greater Noida and the housing clusters along the Yamuna Expressway Authorities allowing the registration of flats in stalled projects, the stamp and registration department of Gautam Budh Nagar, the district that these areas fall in, has witnessed a jump of around 18 percent in its revenue collection for the financial year 2023-24 compared with FY23.

Housing sales in Bengaluru have dipped by 2% to 13,133 units from 13,390 units in the year-ago period due to a reduction in sales in the affordable category even as the office demand in the IT city remained flat at 3.5 million square feet, a report by Knight Frank has said. “The less than ₹50 lakh housing segment saw sales decline by almost 65% to 70% in the first quarter of 2024 which has brought down the overall numbers. The sales in the ₹50 lakh- ₹1 crore residential segment has dipped by 7 percent.

For the seventh consecutive time, the Reserve Bank of India maintained its pause on key policy rates on Friday, maintaining its ‘withdrawal of accommodation’ stance. This move aims to keep inflation in check within the targeted range while sustaining market momentum. The central bank’s strategy reflects careful consideration of robust economic indicators, amidst factors such as monsoon performance, US federal decisions, and overall economic growth, ensuring continued high growth prospects for the country.

Office space transactions across the top eight markets in India touched 16.2 million square feet (mn sq ft) in Q1 2024, marking a 43% year-on-year (YoY) growth in Q1 2024. As far as the residential market is concerned, home sales surged by 9% YoY to 86,345 units, second only to Q4 2023 in six years. Mumbai led with 23,743 units sold, marking a 17% YoY increase, a report by Knight Frank titled India Real Estate: Office and Residential Report (January - March 2024) has said.

If you own a property in Delhi, then you must know about geo-tagging of properties. According to the Municipal Corporation of Delhi (MCD), geo-tagging of properties is mandatory for all property owners in Delhi and makes them eligible for property tax exemption. Geo-tagging of properties refers to assigning a unique Latitude–Longitude to a property on a GIS map by choosing the current location against any Unique Property Identification Code (UPIC) so that all properties have their location identified against a unique Latitude-Longitude position