Tesla has leased a 4,003 sq ft showroom in Mumbai's Bandra Kurla Complex (BKC) at a record INR 881 per sq ft to showcase its electric vehicles, marking a major step in its India entry. The five-year lease began in February 2025, with a 5% annual rent hike and a security deposit of INR 2.11 crore. Tesla also leased a 30-seater office at Phoenix Market City in Kurla to support its local operations. These moves follow CEO Elon Musk's discussions with Prime Minister Modi and reflect Tesla's serious push into India's growing EV market, aligning with the country's green energy and transportation goals.Read more

The Lucknow Development Authority (LDA) has increased discounts on flat purchases to boost sales. Now, buyers can get INR 1.5 lakh off on flats priced up to INR 45 lakh, and INR 2 lakh off on flats priced above INR 45 lakh. The offer is valid till June 30 on a first-come, first-serve basis. The discounts apply to various LDA housing schemes across Lucknow, including areas like Kanpur Road, Shardanagar, Jankipuram, and Adra. LDA has also hired private real estate brokers to help sell unsold flats. The scheme was first launched last October and has now been revised again.Read more

India launched the Smart Cities Mission in 2015 to modernize urban spaces through targeted infrastructure upgrades. Over the past decade, cities have completed more than 90% of the planned 8,000 projects, using INR 1.50 lakh crore of the INR 1.64 lakh crore allocated. States like Uttar Pradesh, Tamil Nadu, and Maharashtra directed the highest levels of investment. Cities focused on enhancing mobility, water systems, and sustainability through innovative, city-specific solutions. The mission combined central funding with municipal resources and financial tools. As it enters its tenth year, the mission continues to drive transformative, inclusive urban growth across India.Read more

Max Estates Ltd. has acquired the long-stalled 'Delhi One' project in Noida through the insolvency resolution process, investing INR 1,400 crore to revive it. The mixed-use development will span 2.5 million sq ft and include luxury serviced residences, premium offices, and retail spaces. The acquisition, completed on April 23, 2025, follows approvals from NCLT and NCLAT. With a sales potential of INR 2,000 crore and expected rental income of INR 120 crore, the project marks Max Estates' expansion into residential real estate. The revival positions ;Delhi One; as a major Noida landmark, reinforcing the company growing presence in the Delhi-NCR real estate market.Read more

Aamir Khan's residence in Mumbai's Pali Hill is being redeveloped into a luxury housing project by Atmosphere Realty, a joint venture between MICL, Wadhwa Group, and Chandak Group. The Virgo CHS, where Khan owns 12 flats, will be replaced with upscale 4 and 5 BHK sea-view apartments priced above INR 1 lakh per sq ft. Set for launch by December 2025, the project includes a rehab section for current residents. Khan recently bought another Pali Hill property worth over INR 9 crore. Despite a slowdown in the ultra-luxury segment, developers are confident in the project's success amid strong demand in premium locations.Read more

The Delhi Development Authority (DDA) has issued urgent notices to residents of Signature View Apartments in Mukherjee Nagar to vacate their flats, as the 336-unit complex has been deemed structurally unsafe. An e-tender for demolition was floated on March 17, with the process expected to conclude within 120 days of site handover. Although the Delhi High Court mandated evacuation by March 23, many residents remain due to delays in rent compensation. While 111 families have vacated, they await promised assistance. The DDA has pledged compliance with court orders and assured further details on compensation and reconstruction will be shared soon.Read more

Macrotech Developers Ltd (Lodha) has reduced its net debt by 7% to INR 3,990 crore in Q4 FY25, aided by record home sales and strong customer collections. Sales bookings rose 21% year-on-year to INR 17,630 crore, while collections jumped 29% to INR 14,490 crore. Despite acquiring 10 new land parcels across MMR, Pune, and Bengaluru-xpected to yield INR 23,700 crore in GDV-the company maintained healthy cash flow. Macrotech is also expanding into logistics, office, and retail segments. Separately, it resolved a brand dispute with House of Abhinandan Lodha, affirming independent operations and brand identities. The company remains firmly positioned for sustained growth.Read more

The Tamil Nadu Urban Habitat Development Board (TNUHDB) has imposed a penalty of INR 15 lakh on a contractor for significant delays in three housing reconstruction projects in Chennai. These projects, located in Gandhi Nagar, Periyar Nagar, and Goyathoppu, are part of the PMAY-AHP scheme and were expected to be completed within 18 months using pre-fabricated concrete technology. However, progress has been sluggish, with completion rates ranging from 34% to 45%. The delays have forced displaced residents to incur additional rental expenses. TNUHDB has warned of further penalties if the contractor fails to expedite the work.Read more

The Yamuna Expressway Industrial Development Authority (YEIDA) recently launched a scheme offering 276 residential plots in Sector 18, Noida. These plots, measuring 200 square metres each, are priced at INR 35,000 per square metre, marking a 35% increase from previous rates. Applicants can apply until May 21, with a draw set for July 11. A 10% registration fee is required, and the remaining amount must be paid within 60 days. This scheme is part of YEIDA's wider plans, which include upcoming plots for group housing, industrial, commercial, and hotel projects near the Noida International Airport.Read more

Akshay Kumar has sold an office space in Lower Parel, Mumbai for INR 8 crore, earning a 65% return on his 2020 purchase of INR 4.85 crore. Located in the upscale One Lodha Place project, the 1,146.88 sq ft office also included two parking spots. The deal, registered in April 2025, involved a stamp duty of INR 48 lakh. Earlier this year, he sold a Borivali flat and a luxury Worli apartment for impressive profits. His success highlights growing celebrity interest in commercial property, especially in prime areas like Lower Parel.Read more