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real estate news

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India's booming housing sector

Maharashtra’s Revolutionary Housing Policy 2025 Approved: 35 Lakh Homes, AI Portal, Focus on Slum Redevelopment

The Maharashtra Cabinet has approved the State Housing Policy 2025, targeting 35 lakh affordable homes by 2030 with an investment of ₹70,000 crore. The policy includes a centralized AI-based housing portal, cluster redevelopment of slums, land bank creation, and dedicated housing plans for various segments including working women, students, and industrial workers. Deputy CM Eknath Shinde described it as a transformative step for housing and the state’s economic growth.
Mumbai home sales September 2024 decline

Maharashtra Leads India with 50K+ Real Estate Agents; Mumbai & Suburbs Contribute 11,822

Maharashtra tops the country with over 50,000 real estate agents registered under MahaRERA, of which 11,822 belong to Mumbai and its suburbs. With agents from more than 150 cities outside the state also enrolled, Maharashtra continues to lead India’s regulated property market.
MahaRERA circular 34A/2025 updates guidelines for hearing complaints under the RERA Act, prioritizing seniority based on filing date

MREAT Rules Part OC No Shield: Lodha Group to Pay Interest for Delay in Possession

In a major boost for homebuyers, the Maharashtra Real Estate Appellate Tribunal (MREAT) has ordered Lodha Crown Buildmart Pvt. Ltd. to pay interest for delayed possession of flats in the New Cuffe Parade project. The Tribunal clarified that partial Occupancy Certificates do not exempt builders from liability and reinforced that delay must be calculated from the date promised in the sale agreement.
MHADA

MHADA Waives Interest for 2005 Lottery Winner; Orders Action in Wrong Allotment Case

During its 11th Lokshahi Din, MHADA addressed two critical citizen grievances. A 2005 lottery winner under the Balkum, Thane scheme received a waiver on delayed interest, while officials were directed to take swift action in a South Mumbai property misallocation case. The session underscored MHADA’s ongoing focus on prompt and transparent governance
The Maharashtra Real Estate Appellate Tribunal has dismissed Neelkanth Infracon LLP’s appeal and upheld MahaRERA’s order mandating interest payments to homebuyers for delayed possession of flats in the “Neelkanth Kingdom” project.

Neelkanth Infracon Directed to Compensate Homebuyers for Delay

The Maharashtra Real Estate Appellate Tribunal has dismissed Neelkanth Infracon LLP’s appeal and upheld MahaRERA’s order mandating interest payments to homebuyers for delayed possession of flats in the “Neelkanth Kingdom” project.