Over 50000 Real Estate Agents Registered with MahaRERA
Real estate sector backs sustainability
India’s real estate sector, long a pillar of urban development, is now being seen as a key driver of the country’s climate and employment agenda.
As India targets a $1 trillion real estate market by 2030, and a projected $6 trillion within two decades, the sector is being called upon to align growth with environmental responsibility and youth empowerment. With rapid urban migration accelerating housing and infrastructure demand, developers are responding not only with scale but also with sustainability. The sector’s shift towards green building certifications, low-carbon construction, and energy-efficient designs supports India’s Paris Agreement commitments—including reducing greenhouse gas emissions by 45% and sourcing 50% of its energy from non-fossil fuels by 2030. The rise of Tier-2 and Tier-3 cities like Lucknow, Jaipur, Bhubaneswar, and Mohali as investment hotspots signals this transformation. With better connectivity and rising demand for eco-friendly housing, developers are recognising the long-term benefits of green construction.
“Adapting to sustainable practices does not lead to financial loss; it delivers long-term economic value,” said Mohit Bansal, Founder & CEO of GMI Infra, underscoring the need for real estate to evolve in line with national climate goals. Yet while infrastructure expands, youth employment remains a challenge. A mismatch between education and industry needs has left many young Indians in informal or underpaid jobs, threatening the country’s demographic dividend. Bansal stresses that the real estate sector must play a more active role in bridging this gap. “We must anticipate future needs and invest in skill training for the workforce. This ensures that we not only build cities but build futures,” he said. He also urged companies to expand their CSR efforts beyond donations to support sports, education, and workplace readiness. With profit margins set to rise, Bansal proposed national scholarship programmes and on-site training initiatives to elevate young Indians into the formal economy.
Additionally, he called on developers to lead environmental awareness and conservation programmes, ensuring sustainable growth does not come at the cost of ecological balance. As India approaches its centenary of independence in 2047, real estate companies are being asked to look beyond profits and deliver impact. With aligned efforts in green development and youth engagement, the sector has the potential to become the backbone of a sustainable and inclusive economy.
Real estate sector backs sustainability
Wagholi Builders Face Safety Delay Allegations
Seven years after moving into Mayuri Tarangan Society on Wagholi-Lohgaon Road, residents are still living without functioning lifts, fire safety systems, proper sewage and water supply — raising alarm over structural safety and the builder’s prolonged non-compliance.
The housing society, home to over 200 residents across two seven-storey buildings, witnessed a recent structural scare when a portion of the lift room on the seventh floor collapsed during the night. While no injuries were reported, the incident has fuelled growing fears about the integrity of the building. Despite being handed possession in 2018, residents claim critical infrastructure remains missing. “There have been no working lifts since day one, and with no fire systems or even a transformer in place, it’s a risk to everyone living here — especially the elderly and children,” said a resident. Drainage chambers remain uncovered and the monsoon season is heightening concerns. The builder, who had sought an extension until 2021 to complete all promised amenities, has yet to deliver on basic utilities, recreational areas, and safety infrastructure.
Residents allege negligence and poor construction quality, holding the developer accountable for delays and safety risks. In response, the Wagholi Against Corruption Organization (WACO) submitted a formal letter this week demanding:
1. Immediate installation of lifts, sewage and water treatment systems
2. Completion of internal roads and reliable electricity supply
3. A binding project timeline and access to compliance reports
Residents have warned that legal action will follow if no progress is made within seven days. Meanwhile, repeated outreach to the Pune Municipal Corporation (PMC) has gone unanswered. Residents say this lack of oversight enables such violations to persist unchecked.
“This is no longer a matter of inconvenience. It’s a question of safety and basic dignity,” said another resident.
Also Read: Punes Growth Faces Policy Gaps
Wagholi Builders Face Safety Delay Allegations
JSW to Take Over Akzo Nobel Indias Paint Unit
The Indian decorative paints market is witnessing a potential seismic shift as JSW Paints has emerged as the frontrunner in the acquisition of Akzo Nobel India.
The Sajjan Jindal-led entity has reportedly signed an exclusivity agreement, eclipsing a competing offer from a consortium comprising Advent International and Indigo Paints. This development, centred around a deal valued at approximately ₹11,854.63 crore ($1.39 billion), signals a significant consolidation within the sector and holds the promise of reshaping the competitive landscape. Should the acquisition materialise, JSW Paints is poised to ascend to the fourth position in the domestic decorative paints arena. This upward trajectory would also bolster its presence in the industrial paints segment, creating a more formidable challenger to the established market leaders. The financial implications of this potential merger are substantial, with JSW Paints inching closer to the coveted ₹10,000 crore revenue milestone. This achievement could pave the way for a future Initial Public Offering, further amplifying the company’s growth trajectory and market visibility.
Industry insiders suggest that the negotiations, which have spanned several weeks, have seen a narrowing of the valuation gap between the bidders and Akzo Nobel India. The latter currently holds a market capitalisation of ₹15,857.14 crore, with its stock price reflecting the anticipation surrounding this potential sale. Parent company AkzoNobel NV, holding a substantial 74.76 per cent stake, would see its holding subject to an open offer triggered by JSW Paints’ bid. The offer is reportedly at a modest discount of 5-8 per cent to the prevailing market price, valuing the promoter stake at the aforementioned ₹11,854.63 crore. The strategic rationale for JSW Paints’ aggressive pursuit of Akzo Nobel India lies in the latter’s established presence, particularly within the premium and urban segments of the decorative paints market, where its Dulux brand commands considerable recognition. For JSW Paints, a relatively recent entrant that has yet to break into the top tier, this acquisition offers an accelerated route to significant market share and enhanced brand equity. Conversely, AkzoNobel’s decision to divest its India operations, following the prior divestment of its profitable powder coatings business, suggests a strategic realignment of its global portfolio.
The intricacies of the deal structure reportedly involve a potential reverse merger of the privately held JSW Paints into the listed Akzo Nobel India. While the long-term role, if any, of AkzoNobel NV in the combined entity remains to be seen, the immediate focus is on finalising the terms of the share purchase agreement. JSW Paints is actively securing the necessary financing for this ambitious undertaking, engaging with a consortium of global banks and financial institutions. Equity infusion from the Sajjan Jindal family is also anticipated to play a crucial role in funding the acquisition. From a broader economic perspective, such market consolidation can have varied impacts. While it may lead to a more concentrated competitive environment, it can also foster innovation and efficiency through the integration of resources and technologies. For consumers, the long-term effects on pricing and product diversity will be closely watched. As JSW Paints potentially integrates Akzo Nobel India’s operations, the focus will likely extend beyond immediate market share gains to encompass sustainable growth and alignment with evolving consumer preferences in the Indian market. The narrative of this acquisition underscores the dynamism of the Indian business landscape, where strategic moves and market realignments are continuously reshaping industry contours.
JSW Looks to Take Over Akzo Nobel Indias Paint Unit
UP RERA Orders Builders to Stop Early Possession
The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has issued a firm directive to developers, prohibiting the handover of incomplete residential units.
The regulatory body has explicitly stated that the practice of offering possession of ‘bare shell’ or ‘canvas’ apartments, lacking essential amenities and finishes, must cease immediately. Non-compliance with this order could result in substantial financial penalties, potentially reaching up to five per cent of the total project cost, as per the order issued on 8 May 2025, under the stipulations of Section 37 of the Real Estate (Regulation and Development) Act, 2016. UP RERA’s stern stance underscores a commitment to ensuring that homebuyers receive fully completed dwellings, equipped with all promised facilities, only after the execution of a registered sale or lease deed. The authority’s observation that certain developers were incorporating clauses in sale agreements compelling allottees to accept unfinished properties has been deemed unlawful. This proactive intervention by UP RERA seeks to eliminate such unfair practices and reinforce the principle that physical possession should only be transferred upon the receipt of a valid Completion Certificate (CC) or Occupancy Certificate (OC) from the relevant authorities.
Furthermore, the directive mandates that developers must secure all necessary No-Objection Certificates (NOCs) pertaining to safety and essential services before submitting an application for an OC. This prerequisite aims to guarantee that the delivered properties not only meet structural completion standards but also adhere to crucial safety and serviceability norms, fostering secure and liveable communities. Reinforcing this, Rule 1.8(3) of the Uttar Pradesh Agreement for Sale Rules, 2018, clearly stipulates that the price quoted for a property must be inclusive of all costs and facilities, leaving no room for ambiguity or the imposition of additional burdens on the buyer for basic amenities. This regulatory push by UP RERA aligns with a broader vision of fostering sustainable and equitable urban development. By ensuring that homes are delivered complete and ready for occupancy, the authority is contributing to the creation of liveable and functional urban spaces, reducing the potential for disputes and ensuring that homebuyers’ investments translate into tangible and habitable assets. The emphasis on full completion and adherence to registered agreement formats also brings clarity to the definition of ‘ready-to-move-in’ homes, which are unequivocally defined as fully finished units.
The implications of this directive are far-reaching, potentially reshaping the dynamics between developers and homebuyers in Uttar Pradesh. The threat of penalties under Sections 38 and 61 of the RERA Act for non-compliance serves as a strong deterrent against the practice of handing over incomplete units. This decisive action by UP RERA signals a firm commitment to upholding the rights of homebuyers and promoting transparency and accountability within the real estate sector, ultimately contributing to the development of more equitable and sustainable urban environments where the interests of all stakeholders are duly protected.
UP RERA Orders Builders to Stop Early Possession
MHADA alloted 4000 New Homes in Thane
The Maharashtra Housing and Area Development Authority (MHADA) is preparing to launch a new housing lottery offering 4,000 low-cost homes in the extended suburbs of the Mumbai Metropolitan Region (MMR) by August 2025.
This move, steered by MHADA’s Konkan Board, targets emerging urban clusters such as Thane, Kalyan, Dombivli, and Virar—regions that have become focal points for middle-income and economically weaker sections in the hunt for livable, accessible housing. According to senior officials at MHADA, the preparatory groundwork is already underway. Housing units being finalised for the upcoming lottery include both MHADA-constructed flats and stock surrendered by private developers under mandated affordable housing provisions. The scheme is expected to be officially announced in the next two to three months, depending on inventory clearance and administrative approvals.
The impending launch reflects the surging demand for state-supported affordable homes across the MMR, a region where market-driven housing remains largely unaffordable for a significant portion of the urban population. In the previous Konkan Board lottery conducted earlier this year, MHADA received nearly 25,000 applications for just over 2,100 homes—underscoring both the housing deficit and the aspirational value of these properties, even when located outside central Mumbai. For thousands of potential homeowners, especially working-class families, MHADA’s housing schemes continue to offer a rare shot at secure homeownership in an otherwise exclusionary property market. The affordability of these homes, paired with improved infrastructure such as suburban rail networks, highways, and upcoming metro lines, has enhanced the attractiveness of peripheral areas like Virar and Dombivli. Moreover, developments are increasingly being planned with access to public utilities, educational institutions, and healthcare facilities—crucial factors in building sustainable urban habitats.
The state housing authority has set its sights on a broader target as well: construction of 32,000 new homes across Maharashtra over the next two years. Of these, 7,000 are slated to be within the Mumbai city limits. Parallelly, MHADA’s Mumbai Board is in the process of preparing another lottery of approximately 5,000 units, expected to go live by late 2025. The last such initiative in the city drew a staggering 1.29 lakh applications for just over 2,000 units—highlighting Mumbai’s acute housing stress. Urban policy experts emphasise that while MHADA’s efforts are commendable, success hinges on aligning these projects with sustainable development goals. From eco-friendly construction practices and renewable energy integration to gender-neutral and transit-oriented planning, the long-term value of such housing projects rests not only in affordability but in inclusivity and resilience.
As cities like Mumbai continue to expand outward, driven by affordability and infrastructural accessibility, MHADA’s housing lotteries could play a decisive role in shaping equitable urban growth. The upcoming scheme offers not just houses but the promise of stability and opportunity for thousands of families navigating an increasingly challenging housing market.
MHADA alloted 4000 New Homes in Thane
Zomato Secures Andheri Office for ₹85 Crore
Eternal Ltd—formerly operating as Zomato—has made a major real estate move by securing 84,157 sq ft of premium office space in Mumbai’s Andheri for a total lease value of ₹85 crore over five years.
This signals a deepening commitment by the tech firm to Mumbai’s dynamic commercial landscape, particularly as the city continues to position itself as a magnet for digital, financial, and consumer-driven enterprises. The agreement, formalised in early May, outlines a three-year lock-in period and a phased rent escalation. For the initial three years, the monthly rental stands at ₹1.34 crore, rising to ₹1.54 crore for the final 24 months. The lease also includes a substantial security deposit of ₹8.07 crore and comes with 57 designated car parking spaces—highlighting the scale and operational intent behind the move. The premises, housed on the 7th floor of R Square, a commercial tower developed by Runwal Realty arm Histyle Retail Pvt Ltd, will commence tenancy from May 1, 2025.
Andheri’s growing reputation as a central business hub is reflected in the calibre of recent leases. The suburb is benefitting from robust infrastructure, including the metro rail expansion, airport proximity, new residential clusters, and increased hospitality footprints. These elements have attracted several new-age companies and banking giants, transforming the area into a mixed-use urban nucleus that integrates work, life, and commute. This lease by Eternal represents more than just a geographic shift—it underscores a strategic realignment for the company. With Blinkit now emerging as a strong revenue engine, CEO Deepinder Goyal announced the rebranding earlier this year to “Eternal,” a name meant to reflect the group’s diversified business outlook. The move into Mumbai, India’s financial and corporate capital, appears aligned with this new vision of growth beyond its original food-tech domain.
Real estate analysts suggest that Eternal’s commitment to a long-term, high-value lease at R Square is indicative of larger trends: technology-driven firms are increasingly looking at Mumbai for not just brand presence, but for operations, leadership hiring, and investor proximity. Moreover, green-building certifications and efficient floor planning are making such commercial developments more attractive to companies with ESG commitments. Interestingly, this is not the only high-profile leasing at R Square in recent months. Earlier this year, HDFC Bank entered into a long-term lease for 2.72 lakh sq ft in the same building, spanning multiple floors. The agreement, reportedly worth over ₹77 crore annually, was executed through three separate contracts—marking R Square as one of the largest consolidated corporate spaces in the city’s western corridor.
While some concerns remain over commercial real estate supply and traffic bottlenecks, the state’s infrastructure push and the area’s evolving ecosystem seem to be winning over top-tier tenants. If executed with sustainability at its core, this wave of development could redefine Mumbai’s traditionally centralised business landscape—distributing economic opportunities while reducing urban stress in the city’s core districts. Eternal’s choice of Andheri not only signals a corporate shift but also hints at the wider movement towards building inclusive, decentralised, and environmentally conscious urban workspaces—an ethos that India’s cities must increasingly embrace.
Zomato Secures Andheri Office for ₹85 Crore
Jain Housing Targets Prime Locations for Long Term Real Estate Growth
Jain Housing and Constructions, a prominent player in South India’s residential real estate market, is strengthening its footprint across rapidly growing urban corridors in Chennai, Bengaluru, Hyderabad, Coimbatore, and Kochi.
With an emphasis on connectivity, infrastructure, and urban development trends, the company is positioning its projects in high-demand localities offering both immediate livability and long-term capital appreciation. Sachin Mehta, Managing Director of Jain Housing, said the strategy revolves around creating sustainable communities in areas with rising economic and infrastructural potential. “We focus on developing projects in prime locations with connectivity, convenience, and future growth potential. Our aim is to build homes that provide comfort today and become valuable assets tomorrow,” he noted. In Chennai, projects like Aadhya in Semmencherry and Aadhidev in Manapakkam, Porur are gaining traction due to their proximity to Old Mahabalipuram Road (OMR) and major IT hubs. These neighbourhoods, supported by expanding metro lines, educational institutions, and healthcare facilities, have seen rising property demand, particularly among tech professionals.
In Bengaluru, Jains Swadesh in Uttarahalli and Jains Aashraya in Bannerghatta are drawing attention for their location advantages. Uttarahalli balances suburban tranquillity with access to arterial roads and social infrastructure, making it popular with families. Meanwhile, Bannerghatta Road has transformed into a tech and residential corridor, with commercial expansion and green zones driving steady real estate appreciation. Hyderabad’s Jains Carlton Creek in Khajaguda benefits from its proximity to HITEC City and Gachibowli, the epicentre of the city’s tech growth. The area’s rapid development, improved road networks, and lifestyle amenities are contributing to its emergence as a sought-after address for professionals. Beyond location, Jain Housing is known for modern designs, comprehensive amenities, and a focus on sustainability. The strategic placement of its developments reflects an alignment with urbanisation patterns across South Indian metros.
As Indian cities continue expanding outward with increasing demand for quality housing near employment zones, Jain Housing’s approach offers investors and homebuyers alike a strong value proposition—combining location advantage with long-term returns.
Jain Housing Targets Prime Locations for Long Term Real Estate Growth
Jewars Rs 3700 Crore Chip Plant to Power UPs Tech Future
Uttar Pradesh has secured a substantial investment of ₹3,700 crore for a state-of-the-art semiconductor manufacturing facility.
Strategically located near the burgeoning Noida International Airport in Jewar, within the Yamuna Expressway Industrial Development Authority (YEIDA), this ambitious project, sanctioned by the Union Cabinet, is poised to inject dynamism into the state’s burgeoning technology ecosystem. This landmark initiative underscores Uttar Pradesh’s unwavering commitment to achieving its ambitious goal of a $1 trillion economy, positioning itself as a pivotal hub in the global semiconductor value chain.
Spearheaded through a collaborative synergy between hardware development stalwart HCL and global electronics manufacturing behemoth Foxconn, this venture represents a significant leap forward in Uttar Pradesh’s pursuit of self-reliance in critical technology sectors. The confluence of HCL’s deep-rooted expertise in hardware innovation and Foxconn’s unparalleled proficiency in large-scale electronics production lays a robust foundation for the success of this ambitious undertaking. The facility is meticulously designed to cater to the escalating demand for display driver chips, integral components in a diverse array of modern technological devices, including mobile phones, laptops, automobiles, and personal computers. With an envisioned production capacity of 20,000 wafers per month, translating to an impressive monthly output of 36 million units, the plant is poised to significantly augment domestic semiconductor supply. This strategic investment arrives at a crucial juncture, coinciding with the exponential growth of technology-driven sectors that rely heavily on semiconductor chips. The proliferation of laptops, advanced mobile devices, and sophisticated consumer electronics has fuelled an unprecedented surge in demand for these essential components. By establishing a robust local manufacturing capability, Uttar Pradesh is not only addressing this burgeoning demand but also fostering a resilient and self-sufficient technology ecosystem within the state. This initiative aligns seamlessly with the progressive vision of the Chief Minister, who has championed industrialisation as a cornerstone of the state’s economic advancement.
The ripple effects of this significant investment are expected to extend far beyond mere economic metrics. The establishment of this advanced manufacturing unit is anticipated to generate substantial employment opportunities for the region’s skilled workforce, fostering inclusive economic growth and empowering local communities. Furthermore, the presence of such a high-technology facility is likely to attract ancillary industries and further investment in research and development, catalysing the development of a vibrant and sustainable technology ecosystem. Uttar Pradesh’s proactive approach to fostering a conducive business environment is further underscored by the efforts of Invest UP, the state’s investment facilitation agency. Through its single-window clearance portal, Nivesh Mitra, the agency is streamlining regulatory processes and enhancing the Ease of Doing Business, thereby attracting further investments and nurturing industrial growth. The state’s recent approval of the Global Capability Centre (GCC) policy further demonstrates its commitment to attracting investment in the IT and related sectors, creating a fertile ground for technological innovation and advancement.
The strategic location near the upcoming Jewar International Airport is another significant advantage, promising enhanced global connectivity and streamlined export logistics. Coupled with Uttar Pradesh’s existing robust rail and road networks, this improved infrastructure will significantly facilitate the movement of goods and materials, further bolstering the efficiency and competitiveness of the new semiconductor unit. The availability of a skilled workforce in the region adds another layer of attractiveness for investors, ensuring the smooth operation and long-term sustainability of such high-technology manufacturing ventures. The commitment to building a strong semiconductor manufacturing base in Uttar Pradesh is also attracting key industry partners and suppliers to India. The establishment of a presence by companies like Applied Materials and Lam Research, alongside the preparedness of suppliers such as Merck, Linde, and Air Liquide, signals a growing confidence in India’s semiconductor ambitions and the potential of Uttar Pradesh to emerge as a significant player in this critical sector. This collaborative ecosystem will be vital in ensuring the long-term success and sustainability of the semiconductor manufacturing unit near Jewar, paving the way for a technologically advanced and economically prosperous future for the state.
Jewars Rs 3700 Crore Chip Plant to Power UPs Tech Future
Joon Realty Expands with Rs 1125 Crore Development Plan
