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Builder liable for giving possession without occupancy certificate: NCDRC
What is an occupancy certificate?
An occupancy certificate (OC), issued by the planning authority, confirms that a building complies with approved plans. In Gurugram, for instance, it is issued by the Department of Town and Country Planning (DTCP) or the Municipal Corporation of Gurugram.
'For homebuyers, it serves as proof that
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Mint
21 minutes ago
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Beyond Square Footage: How Luxury Real Estate in India Is Being Redefined
Luxury real estate in India is no longer defined by marble floors or skyline views. A new class of homeowners, that includes startup founders and next generation family office leaders, is reshaping the idea of luxury to focus on lifestyle, legacy, and ease of living. Whether in South Mumbai, Delhi, Gurgaon, or Pune, today's discerning buyer is looking for long term value and a sense of community rather than just opulence. This evolution is visible in how developers are repositioning their offerings. The market is shifting from a 'buy and hold' mindset to a 'live and thrive' proposition. Custom layouts, wellness focused architecture, smart home technology, and integrated mobility are increasingly becoming part of the standard blueprint. According to Knight Frank, residences priced above ₹ 1 crore accounted for nearly 50 percent of all units sold across India's top eight cities in H1 2025. Mumbai recorded over 47,000 sales, with a strong tilt toward mid-premium and luxury segments. The National Capital Region led in premium share. At the same time, under-construction luxury homes in Mumbai saw prices rise by up to 44% year-on-year, the sharpest jump across major metros. According to ANAROCK, homes priced above ₹ 1.5 crore accounted for 42 percent of new launches across India's top seven cities in Q1 2025, underscoring a growing focus on high-value housing. This shift is being driven by both end-user aspiration and investor appetite. Meanwhile, emerging lifestyle-oriented micro-markets like Alibaug, Goa, and Pune's Kharadi point to a rising preference for real estate with experiential value - properties designed around wellness, mobility, and second-home potential. Today's luxury buyer is more strategic and value-focused. According to the recent EY–Julius Baer Indian Family Office Playbook, capital preservation remains a key priority for around one in four family offices. However, there is increasing allocation toward asset classes like real estate and global equities, suggesting a growing appetite for long-term utility and liquidity. Features like smart layouts, energy-efficient materials, and proximity to urban green zones are becoming non-negotiable. Developers are responding with modular architecture, digital concierge services, and wellness-enabled environments. These include private fitness areas, community gardens, spa facilities, and clean air systems. What was once an upgrade is now standard for premium living. Several developers are evolving their portfolios to meet new buyer expectations for livability, wellness, and design. Among the many developers participating in this evolution, Mumbai-based Hubtown Limited serves as one case study. With more than four decades of experience and a portfolio spanning over thirty million square feet, Hubtown has evolved from a builder into a placemaker with an emphasis on civic responsibility. Projects like 25 South in Prabhadevi and 25 Downtown in Mahalaxmi or 25 West in Bandra are designed for multigenerational families and combine spectacular views with customizable plans and large floor plates. In suburbs such as Ghatkopar and Chembur, developments like Rising City and Seasons aim to deliver connectivity and community within self contained residential environments. The company is also building commercial developments at Ahmedabad and Mehsana that cater to the growing interest in commercial markets outside traditional metros. Hubtown has also been active in social infrastructure. It executed one of Maharashtra's first private slum rehabilitation projects under which more than ten thousand homes were delivered free of cost to eligible families. The company also developed the India's first robotic public car park in Mumbai's upmarket Breach Candy and helped upgrade public bus depots in Gujarat. This demonstrates how private real estate can intersect with public benefit. Outlook: Purpose Is the New Premium The future of India's luxury real estate will be defined by developers who can combine adaptability, design integrity, and civic foresight. For a clientele that is both globally mobile and deeply rooted, real estate must be more than just real assets. It must deliver meaning, consistency, and long-term relevance. Hubtown's model, while one among many, illustrates how real estate players that understand changing buyer psychology and urban responsibility may be better positioned to navigate the next cycle of premium housing. Note to the Reader: This article is part of Mint's promotional consumer connect initiative and is independently created by the brand. Mint assumes no editorial responsibility for the content.
India Today
24 minutes ago
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From dual incomes to debt: The silent struggle of parents paying private school fees
On a rainy Thursday morning in Gurugram, Neha and Aditya Kapoor weren't preparing for a client pitch or quarterly review they were scrambling to upload documents, pay a 1.25 lakh term fee, and arrange pickup from a robotics class their four-year-old had after school. Both working professionals, Aditya in finance and Neha in HR they considered themselves financially stable. But when their son got into a reputed private school, the numbers told a different weren't worried about the admission interview. We were worried about the fee circular,' Neha says. 'The annual fees were more than what I paid for my entire MBA.'What followed was a drastic shift , not in careers, but in lifestyle, savings, priorities, and even parenting roles. Mornings became a relay race of Zoom meetings and school drop-offs. Weekends were for managing school apps, activity registrations, and paying for 'extras' like smart labs and field trips. 'We're both still working,' Aditya adds, 'but it feels like one of us works just to pay school fees, while the other works to keep the house running.'This is the new reality for many Indian families where education isn't just a necessity but a second full-time commitment, with emotional and financial demands that go far beyond the classroom. This isn't an outlier. It's the reality for millions of middle-class Indian families navigating an increasingly unaffordable private schooling ecosystem one where aspirations meet hard math, and where 'education' is no longer a public good, but a lifestyle DOESN'T LIE: THE SOARING PRICE OF SCHOOLINGA 2024 report by the National Sample Survey Office (NSSO) revealed that urban private unaided school fees have increased by over 169% in the last decade, far outpacing inflation and salary growth.A middle-class family in metros spends between 1.5 to 5 lakh per year per child on tuition, uniforms, transportation, and "miscellaneous charges".In comparison, government schools cost as little as 3,000–10,000 per year—but remain under-enrolled due to concerns around infrastructure and quality."MY PROMOTION WENT ON HOLD JUST TO BE AVAILABLE FOR SCHOOL INTERVIEWS."Chennai-based software engineer Nivedita Rao faced a dilemma when her daughter was shortlisted by three high-end private schools , all with differing dates for admission interviews, parent orientations, and fee payments.'Each process demanded both parents to be physically present, sometimes during work hours,' says Nivedita. 'I had to decline a promotion because travel and weekend work were no longer possible.'Their combined income was healthy, but the couple soon realized that 'school readiness' meant lifestyle re-engineering. 'We stopped our EMIs for a second car and cancelled our Kerala trip. That money went to the school's development fee, 1 lakh, non-refundable.'THE LEGAL LANDSCAPE: ARE THERE ANY FEE CAPS?India's education system, particularly in the private unaided school sector, operates in a regulatory grey Fee Regulation Acts (like in Maharashtra, Tamil Nadu, Delhi, Rajasthan) empower governments to cap fee hikes to 10–15% over three years but enforcement is patchy at Right to Education Act (RTE), 2009, mandates 25% free seats in private schools for children from economically weaker sections, but middle-income families, neither poor nor rich—are left out.A 2023 Supreme Court judgment upheld states' power to regulate fees but emphasised that schools must maintain transparency and cannot charge arbitrary levies like 'building donations' without rules are there,' says lawyer Shyam Dutt Mishra. 'But the implementation is weak, and schools cleverly label charges to bypass scrutiny—calling it 'development fund', 'infrastructure cost', or even 'tech enhancement fee'.'WHAT ARE OTHER COUNTRIES DOING?Let's look at how India compares globally when it comes to basic education affordability: 'India's middle class is essentially paying Scandinavian-level fees for Southeast Asian-level service quality,' quips Delhi-based economist Raghav Bhatia.'WE MOVED CITIES, FOR THE SAME SYLLABUS, BUT HALF THE PRICE.'Vikram and Poonam Sharma, originally from Pune, shifted to Nashik when their son reached Class 1. 'The school in Pune was asking for 4.2 lakh a year. In Nashik, the same board CBSE offered quality education for 1.2 lakh,' says Vikram. 'We both got hybrid jobs. Our quality of life improved, and we stopped living paycheck to paycheck.'advertisementSchool-related migration is a growing but silent trend parents opting for Tier 2 cities to beat the metro-school inflation EMOTIONAL COST OF CHASING 'THE BEST'Beyond the financial toll, there's an emotional one.'Every weekend was spent prepping for school interviews, filling forms, downloading admission checklists,' recalls Neha Kapoor. 'By the time our son actually got in, we were exhausted—mentally and financially.' The pressure to 'get it right from the start' is immense. Parents often conflate school names with future success, leading to decision-making that's driven by fear more than CAN BE DONE?Experts suggest a multi-pronged approach:Better regulation and real-time audit of private school fee public schools to retain middle-class faith in transparency in donation, capitation, and admission collectives advocating for school-wise accountability and state-wide regulation.'India doesn't lack laws—it lacks implementation and political will,' says activist Abha Saxena. 'Until schools fear consequences, families will continue paying the price.'advertisementIT'S NOT JUST EDUCATION, IT'S AN INVESTMENT WITH NO GUARANTEEFor India's aspirational class, schooling has morphed into a high-stakes investment—one that comes with no sure-shot ROI but still demands sacrifices, lifestyle changes, and emotional strain.'We used to dream of taking our child to Disneyland,' says Neha. 'Now, if we can afford the next academic term without borrowing, that'll feel like a holiday.'- Ends
Indian Express
24 minutes ago
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‘Have we tried increasing revenue?': Intern's first-day email stuns CEO, reignites debate on Gen Z work culture
An unexpected email from a new intern on his first day has the Internet laughing and cringing. The message, shared by Roshan Patel, CEO of US-based Arrow Payments, has gone viral after he posted a screenshot on X with the caption: 'We hired a college intern. Today's his first day. Here's what he just sent me.' In the now-widely circulated email, the intern said, 'Hey, I had a quick idea for the company, sorry if this was already brought up, but have we tried increasing revenue?' — a suggestion so vague and broad that it left people both amused and bewildered. We hired a college intern. Today's his first day. Here's what he just sent me. — Roshan Patel (@roshanpateI) July 28, 2025 Social media users wasted no time jumping into the conversation. One said, 'Firing him would increase the revenue.' Another user added a touch of optimism, saying, 'At least he is somewhat engaged and eager. Can't have it all can you?' A third user commented, 'Next email… sorry if someone has already brought this up but… have you tried lowering your expenses?' Another X user said, 'You would be surprised how many companies have not, in fact, thought of doing that.' Also Read: Indian moonlighter Soham Parekh reacts to hiring freeze at TCS: 'Outwork the system' The incident has reignited an ongoing debate around Gen Z in the workplace, especially their approach to communication and professional norms. A few months ago, writer Harnidh Kaur sparked a conversation on X when she pointed out a recurring concern among her peers. 'They're smart and good at their jobs, but they're often rude, difficult to work with, and struggle with basic workplace etiquette. Honestly, it's hard to defend sometimes,' she wrote, echoing the growing discomfort many employers feel.
