Puraniks to Launch India’s Tallest Thematic Tower for Middle Income Homebuyers
AI Thane Sells 100 Units in 100 Days
Wagle Estate Signals Demand Shift Towards Smart Commercial Spaces
THANE 1st August : In a noteworthy development for Maharashtra’s commercial real estate landscape, AI Thane, a newly launched commercial project in Wagle Estate, has crossed 100 unit sales within just 100 days of launch. The project, positioned as India’s first Artificial Intelligence-integrated commercial district, has drawn significant attention from small and mid-sized enterprises, tech startups, and first-time commercial investors.
According to figures shared by the developer, the project has registered 100 Units in total bookings, with more than 65 per cent of buyers comprising first-time commercial space acquirers — many of them based outside Thane. “Our focus was on building a workspace ecosystem for the next generation of entrepreneurs — small firms, consultants, and tech-first professionals,” said Sohan Thakur, the lead promoter of AI Thane. “To achieve 100 transactions in 100 days validates that vision.” The project offers compact office units, AI-powered building management systems, predictive maintenance, biometric access, and high-speed connectivity — features aimed at catering to an emerging market for tech-enabled business infrastructure. Sizes range from 600 to 1500 sq. ft., with modular expansion options available for larger setups.
Urban Transformation in Wagle Estate Located in the industrial precinct of Wagle Estate, which has traditionally been dominated by MSMEs and light industries, AI Thane’s success signals a shift in the area’s real estate profile. The Maharashtra Industrial Development Corporation (MIDC) recently introduced new commercial-friendly zoning and infrastructure reforms in the belt, including digitised clearances, electric grid modernisation, and improved connectivity through the upcoming Metro Line 4. “Wagle Estate is undergoing an institutional upgrade. AI Thane is the first commercial project to fully leverage this policy momentum,” said Sanjay Iyer Sales Head of AI Thane.
According to a Q1 FY26 report by JLL India, MMR’s overall commercial space absorption has slowed by 14 per cent year-on-year due to global economic uncertainties. However, decentralised micro-markets such as Thane, Navi Mumbai, and Mulund are seeing stable end-user driven demand — particularly for spaces under 1,500 sq. ft. that allow easy ownership and asset appreciation. Phase Two to Launch Ahead of Schedule With the initial phase of over 150 office units nearing sell-out, the developer has announced plans to launch Phase 2 by mid-August. This next phase will include larger enterprise suites, co-working clusters, and café-integrated work pods. Industry observers believe that the rapid sales velocity achieved by AI Thane will likely encourage developers to rethink commercial formats in suburban nodes — shifting from large corporate leasing models to flexible, intelligent, and compact ownership-led formats.
“This is not just a commercial success. It reflects a behavioural shift in how urban India wants to work — decentralised, digital, and designed for scale,” Thakur added
AI Thane Sells 100 Units in 100 Days
WOARCHITECT CAREER CONCLAVE 2025
CHARTING BOLD NEW PATHS IN ARCHITECTURE
Hon’ble MP Shri Narayan Rane inaugurates India’s first dedicated architectural career platform, in association with CREDAI-MCHI
Mumbai, June 14, 2025 – The architectural community witnessed a landmark moment with the inaugural edition of the WOArchitect Career Conclave (WCC) 2025, hosted at Mumbai’s NESCO Centre. Conceptualised as India’s first event exclusively focused on architectural career development, the conclave drew over 700 participants—ranging from students and early professionals to industry leaders and academic institutions—affirming the profession’s readiness for a broader, more future-oriented discourse.
The event was formally inaugurated by Shri Narayan Rane, Hon’ble Member of Parliament, who lauded the platform for addressing the long-felt need for structured career guidance in architecture. “Jobs alone won’t lead to real progress—building businesses is equally important. Learn continuously, embrace entrepreneurship with courage, and elevate Indian architecture on the global stage,” he urged. He also announced plans to develop 1,400 acres in Sindhudurg, envisioning a hub for 500–1,000 companies and over 100,000 jobs, signalling major infrastructural growth for the Konkan region.
Redefining Career Horizons in Architecture
The conclave was conceptualised by Ar. Milind Surve and Ar. Shehal Jagdale Surve, Co-Founders of WOArchitect and Directors at Alternate Angle. With a strong intent to shift the dialogue from conventional practice to multidimensional opportunities, WCC 2025 showcased how architects can contribute across sectors. “Architecture is no longer confined to design,” noted Ar. Milind Surve. “We wanted to show young architects that design thinking is a universal tool—applicable far beyond the studio.”
Supported by CREDAI-MCHI, the conclave featured a rich mix of keynotes, expert-led seminars, a job fair, and a higher education showcase. Eminent speakers such as Ar. Hrishikesh Phadke, Ar. Rupali Gupte, Ar. Makarand Toraskar, and Ar. Keval Valambhia brought diverse perspectives—ranging from technological compliance and urban policy to digital innovation and research.
A compelling panel discussion, “Navigating Architectural Career Maps: Roles, Risks & Rewards”, moderated by Ar. Amita Gore, unpacked the complex realities of architectural careers, especially those that diverge from traditional trajectories.
Reflecting on the conclave’s purpose, Ar. Snehal Surve remarked, “We wanted to equip young architects with both inspiration and direction—empowering them to forge meaningful, non-linear careers in a rapidly evolving world.” Mr. Keval Valambhia, COO of CREDAI-MCHI, called WCC 2025 “a forward-looking initiative that fosters a nuanced understanding of creativity, compliance, and professional agility. The conclave serves as a pivotal step in reshaping perceptions of architectural careers in India. In a field where architects are expected to balance compliance, creativity, and collaboration, this platform equips them to navigate the profession’s expanding scope with clarity and confidence.”
With an existing digital community of over 15,000 members, WOArchitect’s debut offline summit successfully bridged the digital-physical gap, setting a strong foundation for future engagement and knowledge exchange.
In-Depth Dialogues: Voices Shaping Tomorrow’s Architecture
At the heart of WCC 2025 were thoughtful conversations with some of India’s most influential architects and thought leaders, who are actively redefining what it means to be a professional in today’s design ecosystem.
Ar. Hrishikesh Phadke, Designated Partner at Newarch Landscape LLP, emphasized the growing importance of landscape architecture in urban ecology, climate-resilient planning, and sustainable development. “Landscape is no longer just an aesthetic layer—it’s central to long-term resilience and ecological balance,” he shared.
Ar. Rupali Gupte, Founder of Copperpod Architecture Paths, offered deep insight into the evolution of architectural roles—from aesthetic-focused designers to agents of urban change. Advocating for a responsibility-driven mindset, she stressed the balance between global sensibilities and regionally rooted, climate-responsive design.
A new-age lens was added by Sagar Saoji, Content Creator and Founder of F.Y.I. Arch, who explored how architects can use digital storytelling to share knowledge and engage with the public. Speaking about platform-specific nuances and digital behaviour, he offered practical strategies for leveraging content to amplify architectural impact in the digital era.
Returning to the broader context, Ar. Milind Surve emphasized the need for a paradigm shift in architectural education and practice. “We must move from being isolated practitioners to strategic collaborators—working across technology, sustainability, and policy to create holistic solutions,” he urged.
Student Voices: Aspiration Meets Awareness
WCC 2025 also gave space to the voices that matter most—the next generation. In exclusive interviews, six architecture students from across India reflected on their academic journeys, design inspirations, and career aspirations.
From dreams of launching independent studios and joining international firms, to exploring paths in urban design, research, and architectural journalism, the responses revealed a clear shift in mindset. Today’s students are not just seeking jobs; they’re preparing to lead, influence policy, and reimagine the built environment through a multidisciplinary lens.
A Defining Chapter in India’s Architectural Landscape
WOArchitect Career Conclave 2025 marked more than an event—it was the beginning of a movement. By spotlighting career diversity, empowering voices, and championing innovation, WCC 2025 successfully reoriented the architectural narrative toward choice, inclusivity, and resilience.
As India’s built environment evolves in response to climate, technology, and urbanisation, so must the profession. WOArchitect’s initiative arrives at the right time—offering a powerful blend of mentorship, opportunity, and vision for architects ready to shape a more thoughtful and future-ready world.
STRATEGIC VISION FOR A FUTURE-READY THANE
As Thane rapidly evolves into a premier residential and commercial hub, CREDAI-MCHI Thane finds itself at the helm of transformative growth. In this exclusive interview, Faiyaz Virani, the newly appointed Hon. Secretary, outlines his vision for the association and the city’s urban future.
Setting the Strategic Agenda
“As the new Hon. Secretary of CREDAI-MCHI Thane, I am committed to driving a focused and future-oriented agenda. My top three strategic priorities are strengthening government-industry collaboration, advancing sustainable development, and elevating member engagement,” says Virani.
He elaborates that building stronger relationships with government bodies, local authorities, and stakeholders will be key to addressing the concerns of the real estate industry and driving Thane’s growth. At the same time, he stresses the importance of promoting green building technologies and eco-conscious practices that help reduce the environmental footprint of urban development. Internally, his vision includes fostering a sense of community among members by creating networking opportunities, professional development sessions, and meaningful industry dialogues.
Virani believes that consistent engagement is critical. “We want to make CREDAI-MCHI Thane the benchmark for how a real estate body can positively shape its city,” he affirms. His approach includes organising regular industry meets with government officials and members to openly discuss policy bottlenecks, market opportunities, and growth enablers. In addition, he aims to facilitate sustainability workshops and seminars that will help developers embrace new-age, environmentally responsible construction practices.
Strengthening Civic & Government Relations
Virani emphasizes that proactive collaboration with local authorities and government bodies is at the heart of his strategy. He believes in establishing structured communication channels to ensure consistent dialogue and swift resolution of industry challenges. These relationships are essential to ensure that the interests of developers and homebuyers are equally addressed while driving systemic change.
He intends to advocate for industry-friendly policies, support regulatory reforms, and promote a cooperative model of engagement with civic bodies. His vision is not limited to policy alone. He also plans to foster closer ties with residents’ associations, community stakeholders, and urban advocacy groups to encourage participative urban planning. “Thane’s development must be co-owned by all its citizens,” he notes.
Bridging the Infrastructure & Policy Gaps
Virani identifies infrastructure as both a challenge and an opportunity. He notes that Thane’s pace of expansion demands immediate attention to road network enhancement, better water management systems, and public transport upgrades. With metro connectivity underway and urban density increasing, there’s an urgent need to improve mobility and city resilience.
In his view, regulatory clarity is just as important. He highlights the need to streamline FSI norms and planning guidelines to align with the city’s infrastructure capacity and environmental goals. Traffic management, flyover projects, and intelligent transport systems are part of his long-term plan to make Thane more liveable and investor-friendly. “A seamless city is the foundation of sustainable growth,” he adds.
Vision 2030: Thane as a Global City
Looking to the future, Virani’s vision for Thane is aspirational yet grounded in current realities. He imagines Thane as a nationally benchmarked, globally respected city that balances economic progress with ecological responsibility. His approach places equal emphasis on technological infrastructure, inclusive housing, and environmental sustainability.
He believes that Thane can lead the way in integrating smart infrastructure and people-centric urban policies. With modern real estate projects, integrated transportation systems, and green city planning, he sees Thane becoming a key contributor to Maharashtra’s $1 trillion economy roadmap. As a real estate body, CREDAI-MCHI Thane under his stewardship will take on a more strategic role—one that bridges the gap between policy and implementation, and between vision and reality.
“By 2030, we want Thane to be known not just for what it builds—but how responsibly it builds it,” says Virani. “Our goal is to ensure that development in Thane serves all—residents, developers, businesses, and the next generation.”
VISION FOR A TRANSFORMING CITY
An exclusive conversation with SACHIN MIRANI,
The New President of CREDAI-MCHI Thane
As Thane undergoes an infrastructure-led metamorphosis, Sachin Mirani steps in as President of CREDAI-MCHI Thane with clarity of purpose and a future-ready mindset. In this candid conversation, he shares his roadmap for Thane’s evolution into a self-sufficient urban powerhouse and reflects on the legacy of his predecessor, Jitendra Mehta.
Redefining Thane’s Urban Landscape
“This is a defining moment for CREDAI-MCHI Thane. The city is no longer peripheral—it’s becoming the core of Mumbai’s extended urban economy. With critical infrastructure projects underway, including the operationalisation of the metro within the next 12–18 months and the Bhiwandi-Kalyan-Shilphata connectivity linking us directly to Borivali, Thane is poised for exponential growth.”
Mirani underlines that road upgrades, Ghodbunder Road expansion, and a dedicated bullet train station connecting Thane to Pune will unlock new frontiers of mobility and accessibility.
“Our goal is to ensure that this transformation reaches every stakeholder—from developers and investors to local residents. Thane’s story is not just of development—it’s of awareness and collective participation.”
A Legacy of Leadership: The Impact of Jitendra Mehta
Reflecting on his predecessor, Mirani is unequivocal: “Mr. Jitendra Mehta redefined the structure and spirit of CREDAI-MCHI Thane.”
Mehta’s term witnessed a dynamic blend of policy advocacy, community engagement, and large-scale brand positioning. “Whether it was the international Property Expo, COVID-19 relief efforts, or child health programs, his tenure was marked by both vision and execution,” Mirani says.
“He laid a strong institutional foundation, built credible partnerships with government stakeholders, and made the association more inclusive and visible than ever before. It’s a legacy I’m proud to inherit—and determined to build on.”
From Satellite City to Commercial Magnet
“Thane has outgrown the tag of being a ‘residential suburb’ of Mumbai,” Mirani says. “We’re seeing a clear shift—people are choosing to live and work here.”
Thanks to infrastructure upgrades and lifestyle-driven development, the city is witnessing a surge in integrated townships that offer homes, offices, schools, and retail—all within walkable distance. Mirani credits this evolution to both market trends and deliberate planning.
“Thane has a skilled workforce, modern amenities, and rising investor confidence. It’s now a strategic destination for companies looking to decentralise from Mumbai’s cost-heavy districts.”
Vision 2030: A Blueprint for Inclusive Urban Growth
Looking ahead, Mirani’s blueprint aligns with Thane’s inclusion in the Vision 2030 roadmap.
“We are entering an era where Thane will set benchmarks—not just for Maharashtra but for all of India. The alignment with the $1 trillion economy goal of the state, and our city’s strategic location, makes this a national story.”
As President, his priority is to strengthen the association’s role as a development enabler. “CREDAI-MCHI Thane will remain the conduit between policymakers and the people. Our objective is clear—make growth equitable, infrastructure inclusive, and urban planning visionary.”
In Mirani’s words, “Thane is no longer just building structures—it is shaping a future.”
Passing The Baton : A New Chapter for CREDAI-MCHI Thane
A Defining Transition
The corridors of Thane’s real estate sector are abuzz with a significant development—CREDAI MCHI Thane’s leadership has officially transitioned from Jitendra Mehta to Sachin Mirani. This symbolic yet strategic shift sets the tone for a renewed vision, reinforcing Thane’s emergence as a growth-centric, infrastructure-led, and sustainability-driven urban centre in the Mumbai Metropolitan Region.
The Mehta Years – Stability, Growth, and Civic Consciousness
Jitendra Mehta’s tenure from 2023 to 2025 coincided with an inflection point in Thane’s real estate journey. His leadership provided a stabilising force during a time of transformation. CREDAI MCHI Thane, under his guidance, became more than an industry body—it became a key stakeholder in urban development.
From infrastructure-backed housing trends to innovative public campaigns, Mehta championed collaboration and civic inclusivity. Initiatives like “Rass Rang Thane,” the festive lighting of key zones, and summer water stations created a new paradigm of real estate-led civic engagement. As property values appreciated and demand surged, particularly in locations like Ghodbunder Road and Pokhran, the association maintained its focus on long-term value creation.
“The market matured during my tenure, but the real achievement was building trust between developers, citizens, and institutions,” Mehta noted in his farewell remarks.
Enter Sachin Mirani – Charting the Road Ahead
Assuming office on April 1, 2025, Sachin Mirani brings with him a reputation for precision, policy foresight, and ground-level understanding of urban dynamics. His message to members and stakeholders has been consistent—Thane’s next chapter must be anchored in sustainability, affordability, and transit-oriented development.
“The infrastructure rollout—from metro corridors to twin tunnels and coastal connectors—is not just enhancing access; it’s redefining real estate demand, supply logic, and consumer expectations,” Mirani stated in his opening address.
He highlighted Thane’s evolving residential fabric—from entry-level units in Kasarvadavali to premium offerings in Hiramandani Estate—and the surge in mid-segment housing. Commercial corridors such as Wagle Estate and Ghodbunder are, in his view, ripe for boutique office spaces and tech-driven enterprises.
Endorsements from the State’s Power Corridors
The transition received resounding support from Maharashtra’s political and administrative leadership, underscoring the institutional significance of CREDAI MCHI Thane.
Deputy Chief Minister Eknath Shinde lauded both Mehta and Mirani for their respective roles in shaping Thane’s urban story. “CREDAI MCHI Thane continues to be a valued development partner for the city. I have full faith in the new committee,” he noted.
Transport Minister Pratap Sarnalk, a founding member of the Thane chapter, expressed confidence in the continuity of vision. “It’s heartening to see a leadership pipeline that reflects consistency and ambition.”
Municipal Commissioner Saurabh Rao (IAS) appreciated the proactive stance of the outgoing team and committed to strengthening civic-developer engagement under the new regime. “We expect the same alignment and problem-solving attitude to continue.”
District Collector Ashok Shingare (IAS) and Police Commissioner Ashutosh Dumbre (IPS) echoed similar sentiments, praising the professionalism and responsibility demonstrated by the body.
Market Fundamentals and Forward Trajectories
Mirani’s optimism is backed by robust market data. Thane’s average per sq. ft. property value stands at ₹19,800, with luxury zones breaching the ₹25,000 mark. Locations like Ghodbunder Road have witnessed nearly 300% growth over the last decade. Infrastructure investments are expected to catalyse further appreciation.
Quarterly housing demand growth has hovered above 6%, and commercial demand is steadily picking up, particularly for compact, flexible office spaces. However, Mirani remains pragmatic.
“Regulatory bottlenecks, land costs, and rising input prices will test our resilience. But innovation in design, financing, and policy navigation will define our next phase.”
He also addressed the changing buyer profile—young professionals and digital-first consumers with evolving lifestyle expectations. “Our market strategies must reflect generational shifts. Homes must be as smart as the buyers who invest in them.”
A Message of Continuity from Past Presidents
Former president Ajay Ashar, who preceded Mehta, welcomed the transition with grace and insight. “Leadership, in our industry, is not about tenure—it is about vision and stewardship. I have full confidence in Sachin’s capabilities.”
Jitendra Mehta, now the immediate past president, concluded his tenure with a sentiment of trust. “Thane is no longer emerging—it has arrived. I am proud of what we’ve built and excited about what comes next.”
A City on the Rise, a Committee with Resolve
The baton has been passed, but the marathon continues. Under Sachin Mirani, CREDAI MCHI Thane begins a new chapter—one driven by data, aligned with policy, and rooted in Thane’s urban aspirations.
As the city evolves into a benchmark for integrated growth, its real estate community—through CREDAI MCHI Thane—will play a defining role. This isn’t just a change of guard. It’s a reaffirmation of purpose.
The future of Thane is not only about square footage. It is about vision per square foot. And CREDAI MCHI Thane is once again leading the way.
Bengaluru Exempts 1200 Sq Ft Homes Bringing Relief To Property Owners
Bengaluru’s proposed move to waive occupancy certificates (OCs) for residential buildings on plots up to 1,200 square feet has triggered widespread debate over its potential impact on urban safety, planning, and real estate regulation. The proposal by the state’s urban development body aims to ease compliance burdens on small homeowners and builders, but experts warn it may fuel a surge in unauthorised constructions. If enacted, the amendment could reshape Bengaluru’s housing landscape—especially in congested areas—by allowing more buildings to bypass mandatory occupancy approvals currently linked to structural safety and legal occupancy.
Occupancy certificates serve as a critical safeguard, certifying that a completed building adheres to the approved blueprint and civic safety norms. Without them, buildings are deemed unfit for habitation and are denied access to official water and power connections. In Bengaluru’s fast-growing real estate market, however, many small-scale constructions, particularly in semi-urban or peripheral zones, already bypass these protocols. Experts argue that formalising this practice through legal exemptions may help thousands of families legitimise their homes, but it also undermines the city’s zoning laws and building codes designed to ensure orderly and sustainable urban development. Several experts and legal professionals fear that this proposed relaxation will erode regulatory accountability. If the local civic body is no longer responsible for enforcing occupancy compliance on small plots, developers could exploit the loophole by submitting misleading plans and constructing beyond permissible limits.
This could lead to ground-plus-two or even stilt-plus-three structures mushrooming in unauthorised layouts without any effective government oversight. The potential risks include compromised building safety, excessive load on civic amenities, and increased vulnerability in flood-prone or geologically unstable areas, especially as Bengaluru grapples with existing infrastructural pressures. The urban planning community insists that while reform is needed to address the housing needs of lower-income residents, it must not come at the cost of transparency, accountability, or environmental stability. Instead of exemptions, experts recommend simplifying the certification process for small homes, streamlining approvals digitally, and ensuring real-time monitoring through GIS-based systems. A blanket waiver, they argue, sends the wrong message—one that favours shortcuts over sustainable practices. It may also weaken Bengaluru’s efforts to achieve planned, zero-net-carbon growth if unauthorised developments continue without checks on design, ventilation, green cover, or waste disposal.
The proposed change is currently under discussion and may be brought into effect through amendments to multiple legislative frameworks, including the Greater Bengaluru Governance Act. If passed, the move will impact thousands of first-time builders and homeowners across Karnataka. While it could offer short-term relief to those caught in legal or bureaucratic limbo, it risks creating long-term planning challenges for a city already burdened with traffic congestion, water shortages, and ecological stress. Any regulatory shift must be balanced with firm oversight mechanisms to prevent environmental degradation and protect urban equity.
Bengaluru Exempts 1200 Sq Ft Homes Bringing Relief To Property Owners
DLF Sells All 416 Luxury Apartments for Rs2300 Crore in Mumbai Debut
DLF has achieved a spectacular sales feat in Mumbai, selling out all 416 luxury apartments launched under Phase 1 of its maiden project, ‘The WestPark’ in Andheri, for a staggering ₹2,300 crore. This rapid absorption, occurring in less than a week since its launch on July 17, signals a triumphant re-entry into the Mumbai market for DLF and highlights the unwavering strength of the city’s high-end real estate sector. The overwhelming demand underscores Mumbai’s position as a prime destination for luxury living and a key driver of urban development.
‘The WestPark’ project, developed in collaboration with Trident Realty, is strategically located on a 10-acre expanse in Andheri West, an area celebrated for its robust infrastructure and connectivity. The initial phase offered a mix of spacious 3 BHK and 4 BHK apartments, along with select penthouses, across four architecturally distinctive 37-storey towers. These residences, ranging from 1,125 sq ft to 2,500 sq ft, were priced between ₹37,500 and ₹54,000 per sq ft. The development also boasts a lavish 50,000 sq ft clubhouse equipped with a wellness hub, co-working spaces, and various lifestyle amenities, alongside 845 dedicated car parking spaces.
A standout feature of ‘The WestPark’ is its 6,000 sq. meter landscaped ‘Eco Deck’ podium, designed to be the green heart of the development. This central feature links all towers, offering residents lush gardens, panoramic views, and a signature 25-meter pool, creating the ambiance of a tropical forest within the urban core. The design, executed by globally renowned firms like HB Design for architecture, Thornton Tomasetti for structural expertise, BLINK for interiors, and SHMA for landscaping, brings together international sensibilities with local context, offering refined interior layouts, expansive decks, and full-height windows.
The unprecedented sell-out reflects a robust trend in Mumbai’s luxury housing market, which saw an 11% rise in sales of units priced above ₹10 crore in H1 2025 compared to the same period last year, reaching ₹14,750 crore. This surge is driven by high-net-worth individuals and lifestyle upgraders seeking larger, more amenity-rich homes. DLF’s success in Mumbai is a critical validation of its strategy to target premium, well-located micro-markets, building on its recent sell-out successes in Gurugram. This performance is expected to encourage further high-value real estate projects in the city, contributing significantly to Mumbai’s evolving urban landscape and cementing its status as a global real estate hub.
DLF’s rapid and complete sell-out of its debut Mumbai luxury project, totaling ₹2,300 crore, unequivocally demonstrates the city’s strong demand for premium housing and solidifies its position as a top-tier real estate market.
Also Read: Delhi NCR Witnesses Remarkable 81 Percent Property Price Surge in Five Years
DLF Sells All 416 Luxury Apartments for Rs2300 Crore in Mumbai Debut
Delhi NCR Witnesses Remarkable 81 Percent Property Price Surge in Five Years
Delhi NCR’s real estate market is currently experiencing an unprecedented boom, with property prices soaring by an impressive 81% over the last five years, indicating robust growth and significant demand within the region. According to ANAROCK, the average property rate in Delhi NCR climbed from ₹4,580 per square foot in 2020 to ₹8,300 per square foot by the first quarter of 2025. This substantial appreciation is not confined to a single locality but spans across key markets including Noida, Greater Noida, Delhi, and most notably, Gurugram, which has emerged as a prime destination for luxury living and investment.
The surge in prices is accompanied by a burgeoning demand, particularly for high-end homes, reflecting a growing appetite among affluent professionals, NRIs, and entrepreneurs. In the first quarter of 2025 alone, over 28 luxury projects were launched and many sold out rapidly, underscoring the strong market confidence. Renowned developers are actively shaping premium living experiences through projects that incorporate smart automation, wellness amenities, eco-friendly designs, and global architectural collaborations. These developments offer sophisticated features ranging from private elevators and concierge services to rooftop cafes and dedicated wellness zones, catering to the evolving preferences of discerning homebuyers who prioritize lifestyle, connectivity, and future-ready living.
Gurugram’s appeal is significantly bolstered by its modern infrastructure, excellent connectivity, and a lifestyle comparable to global cities. Major infrastructural developments like the Dwarka Expressway, Global City Extension Road (GCER), Southern Peripheral Road, and extended metro connectivity have made residing in Gurugram increasingly attractive. These infrastructure enhancements play a pivotal role in driving property values and investor interest, transforming the city into a magnet for capital. Property prices in some Gurugram micro-markets are even touching ₹18,000 per square foot, a testament to the city’s dynamic growth pattern and its emergence as a seamless blend of modern luxury and strategic urban planning.
The robust nature of Delhi NCR’s property market is further supported by regulatory reforms like RERA and various housing schemes that have enhanced market transparency and buyer confidence. Experts note that the current market momentum is largely driven by genuine, long-term investors rather than short-term speculators, indicating a healthy and sustainable demand. As Delhi NCR, particularly Gurugram, continues to evolve into an aspirational housing market, developers are innovating rapidly to meet consumer demands, and homebuyers are becoming more informed and selective.
While supply is rising to meet demand, sustained buyer interest and efficient project execution will be crucial to ensure this impressive growth continues without leading to an unsustainable market bubble.
Also Read: Rajasthan Faces Rising Construction Costs as Mineral Royalty Fees Increase
Delhi NCR Witnesses Remarkable 81 Percent Property Price Surge in Five Years
Rajasthan Faces Rising Construction Costs as Mineral Royalty Fees Increase
The Rajasthan government has significantly increased the royalty fees charged on 24 different mineral substances, including essential construction materials like gravel, sandstone, and marble. This decision is set to directly impact construction costs across the state, making building materials more expensive for consumers and developers alike. The move is expected to generate additional revenue for the state exchequer but will undoubtedly add to the financial burden of house construction and infrastructure projects, particularly given the already fluctuating prices of raw materials.
According to the new notification issued by the Department of Minerals, the royalty fee on gravel has been uniformly increased to ₹60 per tonne across all districts, up from the previous rates of ₹50 per tonne in some areas and ₹45 per tonne in others. This standardization aims to ensure consistent pricing statewide. Experts estimate that this hike will raise the price of gravel by up to ₹600 per truck, based on a 40-tonne capacity. Similarly, the royalty on ‘cheja stone’ (sandstone), which is widely used in construction, has been increased by ₹80 per tonne, moving from ₹240 per tonne to ₹320 per tonne for finished stone, with raw material costs also seeing an upward revision.
The impact extends to other crucial minerals as well. Marble extracted from Makrana and surrounding areas, previously charged at ₹490 per tonne, and marble from other parts of the state at ₹560 per tonne, have now been standardized and increased to ₹550 per tonne. The royalty on stone used in tiles has risen from ₹455 to ₹500 per tonne. Furthermore, the royalty on stones utilized in making chips concrete, such as dolomite, limestone, and rhyolite, has seen a substantial increase from ₹90 to ₹130 per tonne. These revised rates, implemented after a gap of four years, reflect the government’s effort to boost state revenue, with the Mines Department having sent a proposal for these increases earlier to the state government.
These royalty hikes are expected to have a direct bearing on the common person, making house construction costlier throughout Rajasthan. The state’s mining sector has been proactive in increasing revenue, with a recorded collection of ₹9,228 crore in royalty in 2024-2025, a 24 percent increase from the previous year. This revenue generation is crucial for state development, but the increased costs will need to be absorbed by the construction industry and ultimately passed on to end-users. Industry stakeholders anticipate a recalculation of project budgets and a potential slowdown in new construction starts if the increased material costs prove too burdensome.
The government maintains that these revisions are part of broader efforts to manage mineral resources effectively and ensure fair valuations. However, the immediate consequence will be a notable rise in the cost of construction, posing a challenge for builders and homebuyers across Rajasthan.
Also Read: Kochi Puravankara Unveils Major Residential Project as Part of 15 Million Sq Ft Pipeline
Rajasthan Faces Rising Construction Costs as Mineral Royalty Fees Increase