The Greater Noida Authority has imposed penalties amounting to INR 54 lakh on seven builders whose sewage treatment plants (STPs) were found non-functional, leading to untreated sewage being released into drains. The Authority has reiterated that the operation of STPs is mandatory and warned that repeat violations will lead to FIRs as per directives from the National Green Tribunal and the Central Pollution Control Board.Read more

China's housing market continues to face downward pressure, with new home prices falling 0.3% month-on-month and 2.5% year-on-year in August. Resale prices in tier-one, tier-two, and tier-three cities also declined, while property investment dropped 12.9% year-on-year from January to August. Analysts say recovery may not occur until 2026 or 2027 due to weak buyer sentiment, high inventory, and employment pressures. Policymakers are easing home purchase restrictions and considering credit and interest rate adjustments. Premier Li Qiang has emphasized the need for stronger measures to stimulate housing demand and support market stability.Read more

The Delhi High Court has clarified that grandchildren cannot claim a share in their grandparents' property while their parents are alive. The ruling came in a case where a woman sought partition of her late grandfather's West Delhi property, arguing it was ancestral. Justice Purushaindra Kumar Kaurav held that under the Hindu Succession Act, 1956, property passes to Class I heir's spouse, children, and mother; not grandchildren if their parent survives. The court further ruled that property inherited from parents is an heir's absolute property, not automatically ancestral. The judgment underscores that grandchildren have no rights unless their parent is predeceased or a joint family estate is proven.Read more

The Gurugram district administration reviewed progress on the demolition of unsafe towers at Chintels Paradiso, Sector 109. Three towers have already been razed since demolition began in January, while the fourth is nearly down, and Tower D is expected to be next. Six towers in total D, E, F, G, H, and J were declared unsafe by IIT Delhi experts and cleared for demolition. Towers A, B, and C remain under a Supreme Court stay. Residents have raised concerns about being excluded from discussions, delays in work, and the sudden halt of court-mandated rent payments. Completion this year appears unlikely.Read more

In Gurugram, the municipal authorities have identified over sixty commercial and industrial properties with property tax dues exceeding INR 1 crore each. Earlier this week, the Municipal Corporation of Gurugram (MCG) issued notices to these defaulters as part of its revenue recovery efforts. A sealing drive is expected to be enforced imminently, aiming to recover long-pending tax arrears and widen the corporation's revenue base. Meanwhile, property tax collections have remained below expectations, with MCG achieving only about 72 percent of its annual target by August despite lower projections compared to the previous fiscal year.Read more

British homebuilder MJ Gleeson recorded a 17.3% fall in annual pretax profit to GBP 20.5 million (USD 27.9 million) for the fiscal year ending June 2025, affected by rising construction costs, flat selling prices, planning delays, and a failed land deal. Despite this, the company entered the new fiscal year with a strong forward order book of 845 plots, up from 597 at the end of December 2024. Analysts noted that the results indicate recovery potential, and shares rose 1.8% to 347 pence, reflecting positive investor sentiment.Read more

Kolkata's residential property market registered 6,196 sales in August, a 15 percent increase from a year ago and 33 percent higher compared to July. Both new sales and resale transactions contributed to this rise. From January to August, registrations touched 41,440 units, up 37 percent from the same period last year. According to Knight Frank India, the demand is being supported by preference for larger homes, improving connectivity, and easier financing options. Analysts expect the growth trend to continue through the festive period and the rest of 2025.Read more

The Securities and Exchange Board of India (SEBI) has leased a 5 BHK apartment in Prabhadevi, Mumbai for its new chairman, Tuhin Kanta Pandey, at a monthly rent starting at INR 7 lakh. The three-year lease totals INR 2.65 crore, with annual escalations. The apartment is part of Rustomjee Crown Tower and includes four parking spaces. SEBI clarified that the arrangement falls under its approved housing policy. The deal comes amid a steady rise in luxury rental transactions in Mumbai, where more than 3 lakh agreements are registered annually.Read more

New Zealand's housing market softened in August, with median home prices down 1.3% from July and 0.5% lower year-on-year, according to REINZ. National home sales also slipped 4.5% month-on-month, though they were up slightly from a year earlier. Despite the Reserve Bank of New Zealand cutting rates by 250 basis points since mid-2024 to revive an economy in recession, buyer confidence remains cautious. REINZ CEO Lizzy Ryley noted that rate cuts typically take time to influence activity. Analysts expect the cautious mood to persist, with only gradual improvement ahead. While optimism remains for recovery, growth will hinge on stronger confidence and economic stability.Read more

The Competition Commission of India has granted in-principle approval for PNC Infratech Ltd. to acquire a controlling stake in Jaiprakash Associates Ltd. (JAL), provided it emerges as the successful bidder in the ongoing insolvency proceedings. JAL's total debt claims exceed INR 57,185 crore, and the company owns major assets including real estate projects, cement plants, hotel properties, toll roads, and subsidiary investments. The approval follows a Supreme Court directive requiring CCI clearance before the Committee of Creditors can vote on any resolution plan. Other bidders, including the Adani Group and Dalmia Bharat, have also received regulatory approval.Read more

Residents of Signature View in Mukherjee Nagar have begun vacating their flats after a structural audit by IIT Delhi declared the building unsafe. The Delhi Development Authority (DDA) is providing rent support to those relocating, offering INR 50,000 per month to families from three-bedroom flats and INR 38,000 to those from two-bedroom flats. Many residents, however, are seeking more time to secure alternative housing before the demolition process begins.Read more

Mahindra Lifespace Developers Ltd has been chosen to redevelop two residential societies in Chembur, Mumbai, with a combined gross development potential of INR 1,700 crore. Covering 4.4 acres-2.6 acres for one society and 1.8 acres for the other-the projects mark a significant addition to the company's urban residential portfolio. Known for its focus on sustainable growth, Mahindra Lifespace is strengthening its presence in Mumbai's redevelopment market, a sector gaining momentum in high-demand neighbourhoods.Read more

The Navi Mumbai Municipal Corporation (NMMC) recently conducted a demolition drive against unauthorised construction in the Koparkhairane area after prior notices were ignored. The action, directed by the Municipal Commissioner and guided by senior officials of the Anti-Encroachment Department, targeted a property belonging to a local resident. Partial demolition was carried out under the Maharashtra Regional and Town Planning Act, 1966, and a fine of INR 25,000 was imposed. The operation involved multiple officials, police support, machinery, and labour, highlighting the city's commitment to curbing illegal developments.Read more