99acres Bureau

 

Stay abreast with the latest news, stories and trends in Indian real estate at the 99acre’s Bureau. Whether it is a policy change or an infrastructure upgrade, if there is a real estate news doing the rounds, we capture it right here.

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Financial technology hub proposed in Kolkata’s New Town

Kolkata will soon get a dedicated financial technology hub in New Town. The Housing Infrastructure Development Corporation (HIDCO) has identified a 10...

Kolkata will soon get a dedicated financial technology hub in New Town. The Housing Infrastructure Development Corporation (HIDCO) has identified a 10 acre plot in New Town for the project. Financial technology, popularly referred to as fintech, is an emerging industry. It consists...

  • September 24, 2017
  • 10

Puducherry smart city SPV established

Puducherry government has established a special purpose vehicle (SPV) which will be responsible for executing the smart city project in the union terr...

Puducherry government has established a special purpose vehicle (SPV) which will be responsible for executing the smart city project in the union territory (UT). Secretary P Jawahar will head the SPV, under the guidance of chief secretary Manoj Parida. Policy decisions will be taken in consultation...

  • September 24, 2017
  • 9

Bangalore malls found guilty of under-assessment of property tax

Bruhat Bengaluru Mahanagara Palike (BBMP) has identified 55 properties in the city that are guilty of violating property tax assessments during an ong...

Bruhat Bengaluru Mahanagara Palike (BBMP) has identified 55 properties in the city that are guilty of violating property tax assessments during an ongoing electronic survey. It has been found that majority of the properties in Bangalore surveyed had under-assessed their valuations to avoid a higher...

  • September 23, 2017
  • 56

New PPP policy to boost private investments in affordable housing

In order to achieve its targets under the ‘Housing for All by 2022’ mission, the central government has recently announced a new public-private pa...

In order to achieve its targets under the ‘Housing for All by 2022’ mission, the central government has recently announced a new public-private partnership (PPP) policy for affordable housing. The new policy extends central assistance of up to Rs 2.5 lakh for each residential unit constructed...

  • September 23, 2017
  • 57

Bareilly civic body allows encroachers to register properties till September 26

The Bareilly Development Authority (BDA) has asked the illegal residents of Biharman Nagla under Bhaurav Devras Awasya Yojna to either register the ap...

The Bareilly Development Authority (BDA) has asked the illegal residents of Biharman Nagla under Bhaurav Devras Awasya Yojna to either register the apartments they have encroached upon by September 26 or vacate the properties. Officials have informed that the encroachers were warned several times...

  • September 23, 2017
  • 32

State sanctions land acquisition for expansion of Chennai Airport

The Tamil Nadu government has given a nod to the acquisition of 50.2 acres of land at Kolapakkam by the Airport Authority of India (AAI). This land wi...

The Tamil Nadu government has given a nod to the acquisition of 50.2 acres of land at Kolapakkam by the Airport Authority of India (AAI). This land will be used for the expansion of Chennai airport. In August 2017, AAI had announced its intention to acquire patta lands at Kolapakkam village in...

  • September 22, 2017
  • 113

Punjab Shehri Awas Yojna receives poor response in Mohali

Under Punjab Shehri Awas Yojna (PSAY) initiated by the state government, Mohali has received just 277 applications out of the total 11,417 application...

Under Punjab Shehri Awas Yojna (PSAY) initiated by the state government, Mohali has received just 277 applications out of the total 11,417 applications received across the state. The scheme has been promoted through 163 municipal committees and six development authorities in Punjab. The Punjab...

  • September 22, 2017
  • 66

MahaRERA: About 13,300 projects registered

Around 13,400 applications have been submitted to the Maharashtra Real Estate Regulatory Authority (MahaRERA) for the registration of projects under t...

Around 13,400 applications have been submitted to the Maharashtra Real Estate Regulatory Authority (MahaRERA) for the registration of projects under the Real Estate (Regulation and Development) Act (RERA). According to officials, about 13,300 projects have already been approved and granted...

  • September 22, 2017
  • 85

Tamil Nadu RERA issues notices to 320 unregistered builders

The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has recently issued notices to 320 builders who have failed to register their projects under ...

The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has recently issued notices to 320 builders who have failed to register their projects under the Real Estate (Regulation and Development) Act (RERA). Officials have stated that the Chennai Metropolitan Development Authority (CMDA) had...

  • September 22, 2017
  • 105

Homes under Rajasthan affordable housing scheme might become expensive

The Rajasthan government has proposed an increase in the prices of residential units for low income groups (LIG) and economically weaker sections (EWS...

The Rajasthan government has proposed an increase in the prices of residential units for low income groups (LIG) and economically weaker sections (EWS) under the Mukhyamantri Jan Awas Yojana. This is aimed at achieving the target of building 10 lakh houses by 2019 which requires additional...

  • September 21, 2017
  • 82

Ahmedabad Metro clears land acquisition hurdle

The land acquisition issue hampering the construction of the Metro Link Express between Gandhinagar and Ahmedabad (MEGA) has finally been settled. Thi...

The land acquisition issue hampering the construction of the Metro Link Express between Gandhinagar and Ahmedabad (MEGA) has finally been settled. This spells good news for the real estate potential of the localities situated along the route. The land acquisition for the project had been stuck...

  • September 21, 2017
  • 38

Centre reprimands states for diluting RERA rules

The Ministry of Housing and Urban Affairs has directed states to rectify the diluted norms notified under the Real Estate (Regulation and Development)...

The Ministry of Housing and Urban Affairs has directed states to rectify the diluted norms notified under the Real Estate (Regulation and Development) Act (RERA) to implement the objectives set by the Centre. A parliament committee formed to look into the complaints about dilution of norms has...

  • September 21, 2017
  • 77

Maharashtra removes OC requirement for land transfer to housing societies

Maharashtra government has made it easier for housing societies to own the land they are located on by doing away with the need for occupation certifi...

Maharashtra government has made it easier for housing societies to own the land they are located on by doing away with the need for occupation certificates (OC) for such conveyance. This will allow homeowners to bypass the developer by seeking transfer of land ownership. Currently, eight documents...

  • September 20, 2017
  • 92

Uttarakhand RERA rejects 162 registration applications

About 167 applications have been received from developers and agents in Uttarakhand for registration under the Real Estate (Regulation and Development...

About 167 applications have been received from developers and agents in Uttarakhand for registration under the Real Estate (Regulation and Development) Act (RERA). However, as per the RERA portal, only five developers have been successfully registered till now. Meanwhile, 162 applications have...

  • September 20, 2017
  • 97

SEBI permits InvITs, REITs to raise funds through bonds

In an attempt to attract investors to Indian real estate market, the Securities and Exchange Board of India (SEBI) has allowed Infrastructure Invest...

In an attempt to attract investors to Indian real estate market, the Securities and Exchange Board of India (SEBI) has allowed Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) to issue bonds. Until now, these could raise funds only via equity. SEBI has...

  • September 20, 2017
  • 104

Karnataka RERA challenged in court

Several petitions have been filed in the Karnataka High Court (HC) against provisions under the Karnataka Real Estate (Regulation and Development) Act...

Several petitions have been filed in the Karnataka High Court (HC) against provisions under the Karnataka Real Estate (Regulation and Development) Act (RERA). Following this, the HC has issued a notice to the state and central governments for further explanations. The petitioners assert that these...

  • September 20, 2017
  • 77

Indian real estate to witness PE investments over $4 billion in 2017: Report

The latest report by Knight Frank states that Private Equity (PE) investments in Indian real estate is expected to cross $4 billion in 2017. This woul...

The latest report by Knight Frank states that Private Equity (PE) investments in Indian real estate is expected to cross $4 billion in 2017. This would be a major milestone for the realty sector, state experts, as it would be the highest inflow since 2010. Between January and September 2017,...

  • September 19, 2017
  • 98

New industrial area project in Karnataka receives green panel clearance

The new industrial area proposed to be developed in Jakkasandra in Karnataka has been approved by the green panel. The central government will give th...

The new industrial area proposed to be developed in Jakkasandra in Karnataka has been approved by the green panel. The central government will give the final clearance based on the feedback of the panel, state experts. The panel has proposed a few suggestions for the project, including ensuring...

  • September 19, 2017
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