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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Nagpur authority issues notices to 833 builders for illegal construction

Nagpur Metropolitan Region Development Authority (NMRDA) has warned builders to stop illegal construction in violation of development control rules. T...

Nagpur Metropolitan Region Development Authority (NMRDA) has warned builders to stop illegal construction in violation of development control rules. The Authority has already issued notices to 833 builders involved in illegal construction. Out of all, only 169 have submitted their replies. Dipak...

  • November 23, 2017
  • 6

No property tax exemption for 60 schools in Madurai

The Madras high court has refused to overrule notices issued by the Madurai Corporation to about 60 private educational institutions across the city d...

The Madras high court has refused to overrule notices issued by the Madurai Corporation to about 60 private educational institutions across the city demanding Rs 20.85 crore as property tax. Madurai Corporation has submitted that to avail rebate or exemption from payment of property tax,...

  • November 23, 2017
  • 5

NAREDCO urges govt to revise GST to 6% for realty sector

To give a push to housing demand among buyers, NAREDCO has urged the central government to revise the Goods and Services Tax (GST) rate for the real e...

To give a push to housing demand among buyers, NAREDCO has urged the central government to revise the Goods and Services Tax (GST) rate for the real estate sector to 6 percent from the current 12 percent GST. The builders' body has also requested to increase the abatement for land cost to 50...

  • November 23, 2017
  • 45

Over 10000 acres of land encroached near lake beds in Bangalore

The lake encroachment in Bangalore is rampant. Considering this, the Karnataka government has constituted a legislature committee to identify all encr...

The lake encroachment in Bangalore is rampant. Considering this, the Karnataka government has constituted a legislature committee to identify all encroachments near lake beds. It has been observed that around 10,785 acres (nearly 18 percent) of lake area has encroached in the urban and rural...

  • November 23, 2017
  • 23

Greater Noida has maximum unsold stock in NCR, study reveals

Considered as the largest real estate hub across the country, National Capital Region (NCR) has the maximum number of unsold residential units in the ...

Considered as the largest real estate hub across the country, National Capital Region (NCR) has the maximum number of unsold residential units in the country, counting to over two lakh, reveals a study by Anarock. Across the region, Greater Noida has the major chunk of the unsold flats, standing...

  • November 23, 2017
  • 45

Haryana RERA: Over 160 notices issued to developers, 300 complaints filed

Till now, the Haryana Real Estate Regulatory Authority (Haryana RERA) has issued notices to over 160 developers across the state, who have applied for...

Till now, the Haryana Real Estate Regulatory Authority (Haryana RERA) has issued notices to over 160 developers across the state, who have applied for registration under the Real Estate (Regulation and Development) Act (RERA). All these notices were issued to those developers who have filed...

  • November 23, 2017
  • 11

Greater Noida authority to hire consultant for solid waste management

The Greater Noida Industrial Development Authority (GNIDA) announced Monday that it is soon going to initiate a Request for Proposal (RFP) to hire a c...

The Greater Noida Industrial Development Authority (GNIDA) announced Monday that it is soon going to initiate a Request for Proposal (RFP) to hire a consultant for solid waste management system. Since its formation, solid waste in Greater Noida has never been discarded systematically. Nearly 200...

  • November 22, 2017
  • 61

Government plans to construct 50 lakh homes in villages by March 2019

The Union government on Monday said that they will construct over 50 lakh homes for the poor in rural areas across the country by March 31 under the P...

The Union government on Monday said that they will construct over 50 lakh homes for the poor in rural areas across the country by March 31 under the Pradhan Mantri Awas Yojana (Gramin). Under the same scheme, the government had kept a target to build one crore new houses by March 31, 2019 of which,...

  • November 22, 2017
  • 49

Union Housing Minister indicates mandatory Aadhaar linkage with property

The Central government is all set to take the next big step against black money and this time, it's the immovable property that is under the scanner. ...

The Central government is all set to take the next big step against black money and this time, it's the immovable property that is under the scanner. Union Housing Minister Hardeep Puri in an interview with ET NOW, has hinted towards linkage of Aadhaar card with property transactions to be made...

  • November 22, 2017
  • 58

41 infra and public projects set to kickstart before March 2018 in Mumbai

Mumbai civic chief, Ajoy Mehta has recently given his word for commencement of 41 public projects including eight swimming pools, a 12-acre sports com...

Mumbai civic chief, Ajoy Mehta has recently given his word for commencement of 41 public projects including eight swimming pools, a 12-acre sports complex at Andheri, widening of roads, beautification projects, restoration of heritage structures and hospitals, estimated to worth over Rs 30,000...

  • November 22, 2017
  • 9

BMC permits access to common terrace via building lifts

In a bid to enhance the reach for the elderly and differently abled, the Brihanmumbai Municipal Corporation (BMC) has validated a provision that permi...

In a bid to enhance the reach for the elderly and differently abled, the Brihanmumbai Municipal Corporation (BMC) has validated a provision that permits elevators to travel till the common terrace areas of all buildings in Mumbai. As per the civic body’s Development Control Regulations (DCR), the...

  • November 22, 2017
  • 53

Noida, Gr Noida and YEIDA begins audit of 70 developers

Authorities in Noida, Greater Noida and Yamuna Expressway are trying to settle the deadlock between homebuyers and builder by carrying out audits of 7...

Authorities in Noida, Greater Noida and Yamuna Expressway are trying to settle the deadlock between homebuyers and builder by carrying out audits of 70 developers in these regions, on account of failing to deliver flats to homebuyers on time. International firm Currie & Brown, which was hired...

  • November 22, 2017
  • 33

Hyderabad Metro rail receives safety approval

Scheduled to become operational on November 28 this year, Hyderabad Metro has received the safety approval from the Railway Safety Commission. Ram Kr...

Scheduled to become operational on November 28 this year, Hyderabad Metro has received the safety approval from the Railway Safety Commission. Ram Kripal, Commissioner of Metro Rail Safety (CMRS) and his team has inspected various aspects of the metro, including civil works, track, RoB, viaduct,...

  • November 21, 2017
  • 64

Gurgaon Authority can grant land use change permits

The Gurgaon Metropolitan Development Authority (GMDA) has been authorised to grant permission for change of land use (CLU) for areas falling under its...

The Gurgaon Metropolitan Development Authority (GMDA) has been authorised to grant permission for change of land use (CLU) for areas falling under its jurisdiction. Till now, permission for change of land use was granted only by the department of town and country planning (DTCP). TL Satyaprakash,...

  • November 21, 2017
  • 17

Penalty for Gr Noida builders for delayed construction

To expedite the handing over of residential units to homebuyers as per Uttar Pradesh government directive, the Greater Noida Industrial Development Au...

To expedite the handing over of residential units to homebuyers as per Uttar Pradesh government directive, the Greater Noida Industrial Development Authority (GNIDA) will levy a penalty on developers who fail to complete the first phase of their residential projects within three years or as per the...

  • November 21, 2017
  • 35

Centre to approve Delhi smart sub-city project worth Rs 12,000 cr

The Ministry of Housing and Urban Affairs is going to extend approval for Delhi’s first smart sub-city project at an estimated cost of Rs 12,000 cro...

The Ministry of Housing and Urban Affairs is going to extend approval for Delhi’s first smart sub-city project at an estimated cost of Rs 12,000 crore. Under the smart sub-city project, Vasant Kunj Extension would be developed by the National Building Construction Corporation (NBCC) in Ghitorni...

  • November 21, 2017
  • 51

Bangalore authority to launch 2 mega residential projects

The Bangalore Development Authority (BDA) has recently decided to develop two new mega residential projects worth Rs 759 crore at Konadasapura village...

The Bangalore Development Authority (BDA) has recently decided to develop two new mega residential projects worth Rs 759 crore at Konadasapura village in Bidarahalli hobli in Bangalore East. Officials have stated that the Authority will construct more 3BHK flats in the upcoming residential...

  • November 21, 2017
  • 95

Centre grants infra status to logistics sector

The central government has recently granted infrastructure status to the logistics sector. The move will make business feasible for companies operatin...

The central government has recently granted infrastructure status to the logistics sector. The move will make business feasible for companies operating cold chains, industrial parks and warehousing facilities to raise long-term credit from banks and other financial institutions at low rates, and...

  • November 21, 2017
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