Arkade Developer Acquires Filmistan for Rs 183 Crore Luxury Project in Goregaon
Karnataka real estate sees surge in demand for houses priced between one crore and five crore rupees
Karnataka continues to witness a transformation in its urban housing market, with Bengaluru leading the country in demand for premium residential properties priced between one crore and five crore rupees. The city recorded the highest number of home sales in this price range across India, underscoring a shift in buyer sentiment toward premium housing. According to data released by Knight Frank India for the first half of 2025, Bengaluru accounted for twenty four percent of all homes sold in the one crore to five crore rupee segment. The city saw 18299 such units sold between January and June, out of a national total of 75042 homes. This significant demand reflects changing buyer aspirations and the growing preference for amenity-rich housing solutions.
The National Capital Region ranked second with 16416 sales in the same price bracket, followed closely by Mumbai at 15720 units. Together, these three cities contributed over two thirds of the total national sales for homes priced above one crore rupees, further emphasizing the concentration of premium residential demand in major metropolitan areas. In Bengaluru, the growth is not limited to the mid-premium segment alone. The city also saw 325 houses sold in the five crore to ten crore rupee range, along with five transactions in the ten crore to twenty crore rupee category. This upward trend suggests that buyers are increasingly willing to invest in larger and more luxurious properties, driven by factors such as post pandemic lifestyle changes, a rise in disposable incomes, and the shift toward hybrid work models that demand more spacious homes.
Knight Frank India highlighted the broader trend of premiumisation in the Indian housing market. Nearly half of all residential transactions in the first six months of the year were for properties priced above one crore rupees. This totaled 83433 units across the top markets, a significant leap that indicates a preference for larger homes with enhanced amenities and better location advantages. Senior Officials of Knight Frank India, stated that the residential market in the first half of 2025 displayed a clear shift in consumer priorities. He noted that premium and luxury segments continued to perform strongly, while lower value segments showed signs of moderation. Baijal emphasized that the high share of premium housing in total sales reflects a growing appetite for long term real estate investment and lifestyle upgrades.
Bengaluru’s average residential prices have also seen a sharp increase. Prices rose by fourteen percent year on year, reaching an average of seven thousand and fifty two rupees per square foot. This price growth is attributed to sustained demand and a strategic focus by developers on launching premium projects. Areas such as Bannerghatta Road, Whitefield, Sarjapur Road, and Tumkur Road have witnessed some of the highest price appreciations, supported by expanding metro connectivity and strong economic activity. South Bengaluru continues to be the city’s most dynamic real estate zone. It accounted for thirty eight percent of all new residential launches during the review period. Localities like Electronic City and Sarjapur Road are driving this momentum, benefiting from proximity to major IT corridors, solid physical infrastructure, and upcoming metro projects like the Yellow Line along Hosur Road.
The shift in consumer preference is also influencing developer strategy. Builders are increasingly targeting mid and high ticket size segments rather than the traditional budget category. This change is seen in the nature of new project launches which now include high rise apartments, gated communities with advanced amenities, and integrated townships offering work and leisure options. The supply response from developers has kept pace with this rising demand. Bengaluru recorded 33498 new housing units launched in the first half of 2025, representing a thirty one percent year on year increase. This was among the highest half yearly launch volumes in recent years and reflects the confidence of developers in the long term growth potential of the premium housing segment.
The current data indicates that the Bengaluru housing market is maturing into a more sophisticated and demand driven ecosystem. The increase in premium housing demand is also viewed as a response to rising land costs and the difficulty in executing viable projects in the sub one crore rupee segment. For developers, it is becoming economically unfeasible to create smaller homes in the city’s core areas given the high input costs and consumer expectations. Going forward, experts anticipate that the premium housing trend will continue in Bengaluru and other major cities. Buyers are prioritizing quality of life, spaciousness, and access to services, which are better delivered through premium residential projects. The combination of job creation in tech and services sectors, infrastructure upgrades, and changing consumer behavior is expected to sustain this shift in housing preferences.
As Bengaluru leads the way, the real estate market in Karnataka is poised for continued evolution, with premiumisation becoming a defining characteristic of the post pandemic housing landscape.
Also Read: Bengaluru BBMP To Serve Tax Notices To 5 Lakh Properties For Evasion
Karnataka real estate sees surge in demand for houses priced between one crore and five crore rupees
Mumbai Metro 2B Construction Triggers Sharp Rise in Chembur Property Rates
Chembur, a long-overlooked suburb in eastern Mumbai, is experiencing a dramatic property surge, thanks to the under-construction Metro Line 2B. This 23.6-km corridor is repositioning the area on the city’s real estate map by slashing travel time and improving accessibility. Property rates are now breaching the ₹35,000 per sq. ft. mark in some areas, transforming Chembur into a high-demand, mid-premium housing destination appealing to both investors and end-users.
Chembur’s real estate revival is closely tied to infrastructure, particularly the emerging Metro Line 2B that promises seamless east-west connectivity across Mumbai. Earlier perceived as a modest transit point, Chembur is now at the centre of urban interest due to its strategic location along the new metro alignment. With faster commutes to hubs like BKC and Andheri, working professionals are increasingly eyeing the suburb for both residential purchases and rentals. Residential rates, which hovered around ₹20,000 per sq. ft. just a few years ago, have surged past ₹35,000 in many pockets—an appreciation driven not by speculation but infrastructure-backed demand. From 1-BHK starter homes to luxury developments by top-tier builders, the property mix now appeals across demographics. Rental yields too have climbed, touching up to 6% near metro-aligned micro-markets, making it a top choice for investors seeking dependable returns in a fast-maturing sub-market.
Complementing the connectivity is Chembur’s growing social infrastructure—quality schools, hospitals, shopping centres, and green spaces—which enhances its appeal for families and professionals alike. Modern residential complexes like Godrej RKS, Purva Clermont, and Chandak Highscape City are redefining the skyline, blending high-end amenities with metro-linked convenience. Redevelopment is accelerating, with ageing societies making way for vertical housing infused with features like EV charging, landscaped gardens, and wellness spaces. Localities close to metro stations are witnessing faster appreciation, with increased enquiries from NRIs and young professionals. Despite challenges such as congestion and concerns around air quality due to proximity to the Deonar dumping ground, Chembur’s transformation remains robust. Experts observe that infrastructure improvements have not only driven prices up but also upgraded the suburb’s overall quality of life, making it a balanced mix of affordability, connectivity, and urban comfort—rare in a city with soaring real estate benchmarks.
Chembur’s evolution from a pass-through suburb to a real estate hotspot is being powered by the physical and social upgrades linked to Metro Line 2B. The metro’s anticipated launch has not only improved accessibility but has triggered a wave of residential redevelopment and investor attention. While challenges remain, the area’s versatility—offering options from mid-range apartments to high-end towers—makes it a standout alternative to costlier western suburbs. With metro infrastructure nearing completion, Chembur is well on its way to becoming one of Mumbai’s most strategically positioned and livable urban zones for buyers across income groups.
Mumbai Metro 2B Construction Triggers Sharp Rise in Chembur Property Rates
New Delhi Raises Cost Index, Reduces Tax Burden for Property Sellers
New Delhi’s recent hike in the Cost Inflation Index (CII) for FY 2025–26 from 363 to 376 is set to offer notable tax relief for individuals selling long-term real estate assets acquired before July 23, 2024. Tax experts say the updated index allows sellers to adjust their acquisition cost for inflation, thereby lowering capital gains tax liability. This change is particularly relevant for property owners offloading legacy assets or homes bought over a decade ago.
With the Cost Inflation Index now set at 376, property sellers in India stand to benefit from significantly reduced long-term capital gains tax. Experts note that this revision helps recalculate the indexed cost of acquisition, which in turn reduces the taxable gain. For example, an individual who bought a flat in 2010 for ₹30 lakh and sells it in 2025 for ₹1 crore would see the cost of acquisition rise to ₹67.5 lakh after applying the new index. Without indexation, the tax liability is ₹8.75 lakh, but with indexation, it drops to ₹6.49 lakh—saving over ₹2.25 lakh. These changes are most beneficial for high-value or legacy real estate held for more than two years. However, the benefits apply only to individuals and Hindu Undivided Families (HUFs) who purchased land or buildings before July 23, 2024. Assets like gold and shares are now excluded from indexation after recent policy revisions.
Taxpayers can now choose between two options: paying a flat 12.5% long-term capital gains (LTCG) tax without indexation or 20% with indexation. According to senior experts, for older properties, indexation usually yields a lower tax burden despite the higher nominal rate. However, those selling relatively newer or moderately appreciating assets might find the 12.5% flat tax more efficient. The choice depends on property acquisition year, improvement costs, and actual sale value. Experts strongly recommend computing both tax scenarios before filing returns to avoid excess payments. Accurate documentation is essential—errors in CII selection, ignoring home improvement expenses, or incorrect year reporting could lead to scrutiny or financial penalties. Industry watchers also observed that many sellers had fast-tracked property transactions last year to qualify for indexation. Yet, with the latest CII revision, those still holding eligible real estate can make informed decisions and optimise their tax outcomes under the new framework.
The updated Cost Inflation Index of 376 provides meaningful financial respite for property owners selling long-held assets acquired before July 23, 2024. While the decision between flat tax and indexation depends on each seller’s specific case, experts stress the importance of thorough tax computation. For those navigating high-value or inherited property sales, this revision enhances post-tax returns and encourages tax-efficient planning. With proper documentation and careful comparison, individuals can make the most of these revised provisions and avoid unnecessary liabilities. Tax professionals advise consulting financial advisors to chart the best path forward in India’s evolving taxation environment.
New Delhi Raises Cost Index, Reduces Tax Burden for Property Sellers
Delhi Dethrones Mumbai in Ultra Luxury Housing Sales as 1.7 Lakh Homes Change Hands Across Top 8 Cities in H1 2025
Delhi NCR has officially overtaken Mumbai in the ultra luxury housing segment during the first half of 2025, signaling a shift in India’s high-end real estate landscape. According to the latest Knight Frank India report titled India Real Estate: Office and Residential Market – January to June 2025, the National Capital Region not only recorded the highest number of sales in homes priced above ₹10 crore but also dominated the ₹50 crore-plus segment, traditionally held by Mumbai.
While overall housing sales across the top eight Indian cities declined slightly—by around 2 percent year-on-year—NCR made headlines with a commanding lead in luxury transactions. Of the total 1.7 lakh homes sold between January and June 2025, Mumbai accounted for the highest volume at 47,035 units, followed by NCR at 26,795 units and Bengaluru closely trailing at 26,599 units. Yet, it was in the premium bracket that Delhi NCR outshone all, selling over 1,055 homes in the ₹10–₹20 crore range, 4,158 homes in the ₹5–₹10 crore range, and 159 homes above ₹50 crore—well ahead of Mumbai’s 34 in that elite segment.
The overall dip in sales came despite strong growth in the ₹1 crore and above price category, which recorded a robust 17 percent year-on-year increase. Nearly 49 percent of all home sales in the top cities were in this segment, representing a total of 83,433 units. This trend toward premiumisation indicates a shift in buyer preferences toward larger and better-located homes, particularly in the post-pandemic urban ecosystem.
Interestingly, Mumbai, often dubbed India’s most expensive real estate market, led the total number of transactions but lagged behind NCR in terms of high-value deals. For instance, Mumbai saw 15,270 sales in the ₹1–₹5 crore segment, compared to 16,416 in NCR and a whopping 18,299 in Bengaluru. While Mumbai still led in the ₹20–₹50 crore segment with 124 homes sold, the broader pattern suggests that NCR’s premium property market is not only expanding but also attracting a wealthier clientele.
The Knight Frank report also revealed that Chennai was the only city among the eight to buck the overall downtrend in sales, posting a 12 percent increase in housing demand during the same period. In contrast, Kolkata saw an 11 percent drop, and NCR itself witnessed an 8 percent dip in total volume year-on-year, despite the ultra luxury boom.
Average property prices across most cities continued to rise, with Mumbai registering an 8 percent increase in weighted average price to ₹8,532 per square foot. NCR and Bengaluru outpaced that growth with 14 percent year-on-year increases, bringing their average prices to ₹5,535 and ₹7,052 per square foot, respectively. Hyderabad saw an 11 percent uptick to ₹6,326 per square foot.
Despite solid demand in the premium category, the affordable housing segment—homes priced below ₹50 lakh—suffered notable declines. Across India, only 37,796 units in this range were sold in H1 2025, marking an 18 percent fall from last year and a staggering 43 percent drop from H1 2018. Bengaluru recorded only 1,583 sales in this segment, an 85 percent drop compared to H1 2018. Mumbai, on the other hand, showed resilience, with 18,604 homes sold in this range, only 11 percent below last year and 10 percent higher than 2018, suggesting that demand for budget homes in Mumbai remains relatively intact.
The supply side also failed to keep up in the affordable segment. Only 30,806 new homes were launched under ₹50 lakh, a 31 percent decline in fresh supply and 23 percent less than the total sales in that price range. This supply-demand mismatch underscores a growing challenge for affordable housing developers, especially in the absence of new government incentives or financing reforms.
Overall, new residential launches outpaced sales across all price categories, with 179,740 units added in the first half of the year. While this may seem encouraging, unsold inventory also rose by 4 percent to 5,05,377 units. However, the Quarters-to-Sell ratio—a key market health metric—remained stable at 5.8 quarters, indicating a balanced market. The ₹2–₹5 crore segment performed the best, with an inventory turnover of just 3.9 quarters. In contrast, ultra luxury homes in the ₹20–₹50 crore bracket had a turnover of 17.1 quarters, highlighting the niche nature of such properties.
Commenting on the shifting dynamics, Gulam Zia, Senior Executive Director at Knight Frank India, noted that while Mumbai has historically been the benchmark for high-end housing, Delhi NCR has now taken a decisive lead across ultra luxury brackets. He emphasized that NCR’s dominance is not a short-term spike but could indicate a structural shift in demand among India’s wealthiest homebuyers.
The data from H1 2025 presents a nuanced picture. While overall residential sales are down slightly, strong growth in the premium and luxury segments points to sustained demand at the top of the market. Delhi NCR’s ascendancy over Mumbai in this category reflects changing buyer behavior, growing investor confidence in northern markets, and a possible rebalancing of India’s real estate power centers.
Also Read: Navi Mumbai Maharashtra to Boost Water Supply with Major CIDCO Infrastructure Projects
Delhi Dethrones Mumbai in Ultra Luxury Housing Sales as 1.7 Lakh Homes Change Hands Across Top 8 Cities in H1 2025
Navi Mumbai Maharashtra to Boost Water Supply with Major CIDCO Infrastructure Projects
In Navi Mumbai, the City and Industrial Development Corporation (CIDCO) has launched a series of critical water infrastructure projects across the state. These initiatives aim to ensure a reliable and sustainable water supply for the city, which is projected to require as much as 1,257 million litres per day (MLD) by the year 2050. With Maharashtra’s urban centers expanding rapidly, the move represents a forward-looking approach to safeguarding public utilities in a high-growth zone.
At the heart of this development is the phased expansion of the Hetawane Water Supply Scheme. The massive project is being executed in four key phases and is designed to boost overall water capacity and efficiency in distribution. CIDCO officials reported that as of mid-2025, 41 percent of the water tunnel work has been completed, while progress on the pure water tunnel has reached 25.7 percent. The full scheme is expected to be operational by June 2029 and will serve as one of the primary sources of supply for Navi Mumbai’s growing needs.
To further bolster long-term capacity, CIDCO is also actively developing alternative water sources. The Kondhane Dam, being built on the Ulhas River, is one such project. It is expected to initially provide 250 MLD, with infrastructure in place to scale up to 350 MLD if required. In parallel, work is also advancing on the Balganga Dam project. These two initiatives are expected to come online within the next four to five years and will play a crucial role in building future water resilience in the region.
In the interim, to manage current shortfalls and meet immediate demand spikes, the Maharashtra state government approved an additional allocation from existing resources. In August 2020, it sanctioned an extra 120 MLD from the Hetawane Dam, bringing CIDCO’s total allocation from this facility to 270 MLD. The decision came with a project cost of Rs 1.19 billion and has significantly strengthened the city’s short-term water security.
What makes these projects particularly important is their alignment with the broader goals of urban planning and infrastructure resilience. With climate variability impacting rainfall patterns and increasing the unpredictability of monsoon-fed reservoirs, diversified water sourcing and robust infrastructure have become vital. CIDCO’s emphasis on combining dam construction, water tunnel systems, and advanced water treatment reflects a holistic strategy that is designed not just for today but for decades to come.
Officials have also indicated that these projects will incorporate modern technology and sustainable engineering practices. For instance, tunnel boring and water purification processes are being built with efficiency and environmental standards in mind. By leveraging the latest techniques, CIDCO aims to reduce water loss in transit and improve quality at the point of consumption.
The projects are also expected to have a ripple effect on surrounding municipalities and industrial hubs. Navi Mumbai is not only a residential center but also home to commercial zones, IT parks, and logistics operations. Water demand from these sectors is also on the rise, making the planned infrastructure an economic enabler as much as an essential civic utility. It is anticipated that once the Kondhane and Balganga dams are completed, industrial water supply constraints in the region will ease, potentially inviting new investments into Maharashtra’s industrial corridor.
The state’s emphasis on proactive water management also places CIDCO among the more progressive urban development agencies in India. Unlike many cities where infrastructure struggles to keep up with demand, Navi Mumbai is preparing years in advance. This not only ensures a better quality of life for residents but also enhances the city’s resilience to climate and population shocks.
CIDCO’s strategy reflects a broader shift in Indian urban policy, where infrastructure is no longer reactive but anticipatory. With the combined forces of government planning, engineering execution, and financial backing, Navi Mumbai is positioned to emerge as a model for water infrastructure in the country.
As the Hetawane expansion continues and dam projects near key milestones, the next few years will be critical for execution. Stakeholders from both government and the private sector are watching closely. The successful completion of these initiatives could shape how other high-growth Indian cities tackle the challenge of future water demand in the face of climate uncertainty and urban sprawl.
CIDCO’s water infrastructure plan is not just a pipeline project. It is a blueprint for the future of urban planning in India — and Navi Mumbai is leading the way.
Also Read: Aamir Khan Moves Out As Pali Hill Housing Society Redevelopment Work Begins
Navi Mumbai Maharashtra to Boost Water Supply with Major CIDCO Infrastructure Projects
Indias Real Estate Investment Slumps 33percent in Q2 2025 Amid Global Uncertainty
The Indian real estate sector witnessed a sharp decline in institutional investments during the second quarter of 2025, signaling growing investor caution amid global economic instability. According to data released by real estate consulting firm Colliers India, total institutional investments in the sector fell by a significant 33 percent, dropping to 1.69 billion US dollars in the April to June period, compared to 2.53 billion dollars in the same quarter last year.
This decline was largely driven by a dramatic drop in foreign capital inflows. Foreign institutional investors contributed only 1.04 billion dollars during the quarter, down nearly 49 percent from 2.04 billion dollars in the corresponding period of 2024. The sharp pullback is being attributed to rising concerns over inflation, high interest rates, tightened global credit conditions, and increased geopolitical tensions. These factors have collectively created a climate of hesitation among global investors, many of whom are reassessing exposure to emerging markets.
In stark contrast, domestic investors displayed strong confidence in the sector and helped cushion the blow. Domestic capital investments surged by 32 percent year on year, reaching 642.8 million dollars in the April to June period. This rise not only offset some of the decline caused by foreign withdrawals but also highlighted a shift in the composition of real estate financing in India.
Badal Yagnik, Chief Executive Officer of Colliers India, emphasized the growing influence of domestic capital in the market. He pointed out that the share of domestic institutional investments has steadily climbed from just 16 percent in 2021 to 34 percent in 2024. In the first half of 2025, domestic investors accounted for 48 percent of the total inflows, nearly equaling foreign contributions and signaling a more self-reliant investment environment.
Over the first six months of 2025, total institutional investment in Indian real estate reached nearly 3 billion dollars. Although this figure represents a 15 percent decline compared to the 3.52 billion dollars recorded during the first half of 2024, the role of domestic capital in stabilizing the market cannot be overstated. With global investors stepping back, the resilience of Indian capital has become the sector’s safety net.
Foreign institutional investment during the January to June period stood at 1.57 billion dollars, down sharply from 2.59 billion dollars in the same period a year ago. In contrast, domestic investors pumped in 1.43 billion dollars during the same timeframe, marking a robust 53 percent increase over the 934.7 million dollars recorded in the first half of 2024.
These figures underline a pivotal shift in how the Indian real estate sector is being funded. Traditionally dependent on foreign capital, the sector is now witnessing a more balanced inflow pattern. This evolution could lead to greater long-term stability and reduce the sector’s vulnerability to global financial shocks.
The composition of institutional investments includes a wide range of sources such as private equity firms, pension funds, sovereign wealth funds, foreign and domestic banks, listed real estate investment trusts, family offices, and foreign-funded non-banking financial companies. Colliers noted that while some of these players continue to remain active, those with international linkages have turned risk-averse due to uncertain macroeconomic conditions.
Experts suggest that the moderation in foreign inflows is not a reflection of India’s fundamentals but rather a temporary outcome of global conditions. The fundamentals of the Indian real estate sector remain solid, supported by steady demand in residential, commercial, and industrial segments. High urbanization rates, a growing middle class, and sustained infrastructure investment continue to attract investor attention, even as global fund managers tread cautiously.
The emergence of domestic capital as a major player is also seen as a structural development. Indian investors are increasingly looking at real estate as a stable long-term asset class, especially amid volatility in equity markets and low returns from traditional fixed-income instruments. Institutional domestic investors such as pension funds and family offices have significantly expanded their exposure to the sector, seeking predictable income streams and capital appreciation.
Analysts believe that while foreign investments may rebound once macroeconomic conditions stabilize, the growing share of domestic capital could fundamentally reshape the sector. The rebalancing of capital sources may also encourage developers to prioritize transparency, governance, and compliance, as they adapt to the expectations of institutional domestic investors.
In summary, the second quarter of 2025 has revealed a critical realignment in the Indian real estate investment landscape. While global headwinds have slowed foreign fund inflows, the sector has found renewed strength through increased domestic participation. This shift may ultimately lead to a more resilient and self-sustaining real estate market in India, better positioned to weather future global shocks and economic cycles.
Also Read: Mahindra Lifespaces To Lead Rs 12.5 Billion Mulund West Housing Transformation
Indias Real Estate Investment Slumps 33percent in Q2 2025 Amid Global Uncertainty
Mahindra Lifespaces To Lead Rs 12.5 Billion Mulund West Housing Transformation
Mumbai Mulund West society redevelopment has been entrusted to Mahindra Lifespaces with a ₹12.5 billion endorsement that heralds a new chapter in sustainable urban renewal. The 3.08-acre site, strategically located just 1.4 km from the upcoming metro Line 5 and 0.8 km from the Goregaon–Mulund Link Road, ensures enhanced connectivity to Mumbai’s commercial hubs. The redevelopment plan prioritises green design, community value creation, and on-time delivery, underscoring equitable and low-carbon urban growth.
The appointment of Mahindra Lifespaces—real estate arm of the Mahindra Group—follows a competitive selection process for the Mulund West premium housing society. The design blueprint emphasises eco-friendly materials, energy-efficiency, rainwater harvesting, and waste management systems. Such sustainable practices align with BMC’s broader agenda of reducing the city’s carbon footprint and building inclusive, gender-neutral urban environments. Connectivity forms a core logic of the redevelopment. Proximity to Metro Line 5 will enable smooth commute to central Mumbai, Thane, and Navi Mumbai, reducing reliance on private vehicles and curbing vehicular emissions. Similarly, easy access to the Goregaon–Mulund Link Road supports last-mile travel, demonstrating the symbiosis between transit infrastructure and sustainable real-estate development.
Mahindra Lifespaces brings to Mulund a strong track record: 41.11 million sq ft across completed and upcoming projects in seven cities, alongside stewardship of over 5,000 acres in industrial and integrated townships. This development complements its recent selection to redevelop two societies in Lokhandwala, Andheri West (≈₹12 billion GDV), and land acquisition in Bengaluru (≈₹10 billion GDV). In Q4 FY25, the firm reported a 19.02 percent rise in profit, reaching ₹850.1 million, signalling strong financial health to support such ambitious projects. Mulund West’s real-estate market has exhibited robust momentum. Between April 2024 and March 2025, 1,891 properties were sold, valued at ₹39.60 billion, with prices rising from ₹33,779 to ₹34,534 per sq ft year-on-year. Redevelopment by a reputed player like Mahindra Lifespaces is likely to further uplift valuations, benefiting aging societies and original plot owners while injecting quality housing stock into Mumbai’s suburbs.
Urban analysts contend that retrofitting outdated housing societies supports circular urban expansion, reducing pressure on land reserves and urban sprawl. Redevelopment ensures high-rise, high-density structures with modern infrastructure, open spaces, and inclusive amenities—aligned with sustainable city design principles. Questions remain about resident transition during construction. Previous redevelopments under the BMC policy have offered interim homes or rent compensation to occupants. Representatives from Mahindra Lifespaces and estate redevelopment experts emphasise a strong focus on “value creation for residents” and timely completion—pledging to manage such transitions seamlessly and maintain equitable living standards throughout.
Local civic groups are watching for integration of sustainable mobility solutions within the new project. Experts suggest adding EV charging stations, pedestrian-friendly streetscapes, and shared mobility options to further ecological objectives. Embedding gender-sensitive design—well-lit common areas, safe access, and inclusive community spaces—will solidify the project’s social equity credentials. As India urbanises—with a projected population of 600 million in cities by 2036—such redevelopment projects will shape urban trajectories. Experts, including urban planners and affordable-housing specialists, assert that sustainable redevelopment bridges between densification, climate action, and socio-economic equity.
Mahindra Lifespaces is expected to unveil design details, including green certifications (IGBC/GRIHA), energy-saving targets, and water-positive systems in its architectural release in forthcoming months. The rollout will set benchmarks for future redevelopment across the Mumbai Metropolitan Region, promoting circular infrastructure and city-wide resilience. Mumbai’s awarding of the Mulund West redevelopment to Mahindra Lifespaces marks a crucial step in reimagining sustainable urban living. With ₹12.5 billion at stake, the project represents more than just bricks and mortar—it signals a pivot towards low-carbon, equitable, connected neighbourhoods rooted in resilient planning. With vigilant civic monitoring and responsible implementation, such redevelopment could emerge as a city-wide exemplar in Mumbai’s growth story.
Mahindra Lifespaces To Lead Rs 12.5 Billion Mulund West Housing Transformation
Odisha Fast-Tracks PMAY Urban 2.0 To Address Lagging Verification and Sanctions
Odisha government has initiated urgent steps to revive implementation of the Pradhan Mantri Awas Yojana – Urban (PMAY-U) 2.0, after concerns mounted over sluggish verification and approval rates under the scheme. As of June 2025, out of the 82,382 applications received since the beginning of the year, only 13,925 have been verified, and just 11,959 converted into formal proposals, raising alarms among housing officials.
A recent high-level review by the state’s housing and urban development department revealed that the Beneficiary-Led Construction (BLC) component accounted for nearly 48,598 of the total applications. Yet, the verification rate stood at a mere 16.9%, with conversion to proposals lagging even further behind at 14.5%. These figures contrast sharply with the urgency of Odisha’s urban housing deficit and the state’s own underwhelming record in PMAY-U Phase 1, where only 12% of eligible urban households benefitted from the central scheme. Officials said the current trajectory could compromise Odisha’s eligibility for central grants and adversely impact access to affordable housing for vulnerable populations. To address the bottleneck, the department has issued urgent directives to Urban Local Bodies (ULBs) across the state to intensify ground-level engagement, particularly in areas where verification and proposal conversion rates fall below the state average.
Field teams have been tasked with expediting household-level verification and ensuring timely digital submission of housing proposals. The government is also strengthening its capacity to issue prompt work orders after receiving project approvals. According to officials, these measures are aimed at reducing the current delays and ensuring more efficient project sanctioning under PMAY-U 2.0. To restore momentum, Odisha recently sanctioned 43 new BLC housing projects covering 3,949 residential units, with a cumulative funding request of ₹256 crore sent to the Centre for clearance. Each unit under the scheme will receive ₹1.5 lakh from the central government, ₹1 lakh from the state, and a beneficiary contribution of ₹4 lakh, following the existing cost-sharing model.
Alongside these measures, the housing department has released a detailed Standard Operating Procedure (SOP) outlining transparent procedures for beneficiary identification, field verification, and allocation. A notable feature of the SOP is the mandatory prioritisation of households with members suffering from locomotor disabilities, reflecting a broader push for inclusive housing. Experts familiar with the PMAY framework have welcomed the SOP and renewed focus on procedural accountability, but stress that structural issues in project implementation persist. These include gaps in ULB capacity, delays in fund disbursal, and limited digital literacy among target beneficiaries. “The new SOP is a much-needed course correction, but field-level coordination and digital workflow efficiency will be critical to meet timelines,” said a senior housing policy expert.
The challenges faced under PMAY-U 2.0 come despite rising urban housing demand in Odisha’s Tier 2 and Tier 3 cities. As rural-to-urban migration intensifies, the pressure to deliver sustainable, low-cost housing has grown sharply. The current application trends reflect this need, but inadequate backend systems and lack of field-level support have held back progress. In the first Central Sanctioning and Monitoring Committee (CSMC) meeting held under PMAY-U 2.0 earlier this year, Odisha managed to secure sanction for just 5,328 units. The state now aims to significantly ramp up its presence in the upcoming rounds of CSMC evaluations.
Eligibility for PMAY-U 2.0 continues to be restricted to economically weaker sections (with annual household incomes below ₹3 lakh) and lower-income groups (between ₹3-6 lakh), with an additional condition that no family member owns a pucca house anywhere in India. State officials are under growing pressure from the Centre to accelerate performance, especially as the PMAY-U 2.0 deadline for project approvals nears. Central authorities have also flagged concerns about underutilisation of funds allocated to Odisha in previous fiscal cycles. Responding to this, the state government has pledged to fast-track new proposal generation and improve fund absorption capacity.
Urban housing researchers say Odisha’s current corrective measures, if effectively implemented, could serve as a replicable model for other states facing similar delays. “The state has made a commendable start by acknowledging the gaps and addressing them early. But consistent monitoring, capacity-building at ULB level, and digital transparency are essential to realise the full potential of PMAY-U 2.0,” said an urban development analyst. As the drive for affordable urban housing intensifies across India, Odisha’s renewed focus on project delivery, inclusivity, and field-level responsiveness may mark a turning point in its housing story. With the right execution momentum, the state could bridge its current gap in urban housing coverage and set the benchmark for performance-led implementation of flagship housing missions.
Odisha Fast-Tracks PMAY Urban 2.0 To Address Lagging Verification and Sanctions
Aamir Khan Moves Out As Pali Hill Housing Society Redevelopment Work Begins
