Indian real estate news

DDA Housing Scheme 2019 to offer 20,000 houses
December 11, 2018

The Delhi Development Authority (DDA) is planning to launch its latest housing scheme in February 2019 with 20,000 flats. Majority units will be configured as one-bedroom flats, which will be reserved for the economically weaker sections (EWS). There will be a few 2BHK units, too. Earlier, it was speculated that the Authority will launch the scheme with 30,000 flats. The DDA aims to construct the flats with a better design coupled with more space as compared to the previous housing schemes. As per the new scheme, the one-bedroom flats will have a minimum size of 40 sq m. In the…

South Delhi: Issuance and renewal of property licenses go online
December 10, 2018

The South Delhi Municipal Corporation (SDMC) has approved the policy for issuing and renewing licenses online for household and service industries. Officials have shared that the policy was pending for a long time. Shikha Rai, Chairperson, Standing Committee, SDMC, has shared that the sanction and renewal of licenses will be allowed for any sanctioned floor provisioned under the Master Plan of Delhi 2021. About 50 percent of the area will be allowed to set up a household industry wherein 5KW electricity connection will be sanctioned, and up to five workers will be allowed to work. Earlier, only 25 percent of…

MahaRERA: Dispute forum to resolve buyer-builder vows
December 10, 2018

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued a notification to refer conciliation cases to the Conciliation and Dispute Resolution Forum. As per the notification, if the Authority or an adjudicating officer is satisfied with the possibility of case settlement through conciliation, then with the consent of both the involved parties, the complaint will be referred to the Conciliation and Dispute Resolution Forum, established under the Act. The Authority is duly empowered under section 38 (2) of the Real Estate (Regulation and Development) Act (RERA) to regulate its procedure. Therefore, to facilitate the alternative dispute resolution, a new set…

Construction sector to employ 2.5 lakh drones : Report
December 10, 2018

According to a recent report by the ECI-PwC, the construction sector is expected to employ around 2.5 lakh drone operators to implement various activities involved in the sector. The report is based on secondary data on the most effective practices of drones in the construction industry globally, including India. The usage of drones will be applicable to the construction of highways, roads, bridges and housing projects. The report reads that the drones perform a specific role at every step of construction lifecycle and will thereby eliminate the redundancies and generate more efficiency. Drones can additionally be used to ensure successful…

Madras HC exempts schools from paying property tax
December 10, 2018

The Madras High Court has stayed all the amendments to the State legislation bringing educational institutions under the property tax ambit of local authorities in Tamil Nadu. A division bench comprising Justices S Manikumar and Subramonium Prasad granted the interim stay on a petition filed by All India Private Educational Institutions Association (AIPEI). According to the petitioner, there were provisions concerning property tax exemption for educational institutes in Chennai, Madurai, Coimbatore and Tamil Nadu districts. The Tamil Nadu District Panchayats Act was amended with effect from August 2009, empowering the panchayats to levy property tax on educational institutions. The amendment…

Uttar Pradesh Govt to develop Jewar Airport on PPP model
December 10, 2018

The Uttar Pradesh government has decided to develop the Jewar International Airport on a Public-Private-Partnership (PPP) model. The Civil Aviation Department has issued an order for the same. The Department shared that the acquired land will be handed over to the Noida International Airport Limited (NIAL) on a 90 years lease. This will give power to the Authority to choose the developer. All government-owned land parcels falling within the purview of the airport will be transferred to the airport free of cost. Officials have stated that the State government has already granted the approval to the financial and administrative clearance…

Haryana builders can now buy extra FAR
December 10, 2018

The Haryana Town and Country Planning Department has amended the new integrated licensing policy, 2016. The new amendment allows the developers to buy extra Floor Area Ratio (FAR) for their existing plot and thereby, add more flats to their high-rise structures. The FAR is the ratio of a building's total floor area to the size of the piece of land upon which it is built. The State government has allowed the developers to purchase FAR of 0.25, in addition to the allotted 1.25. The extra FAR will be calculated at 88 percent of the licenced area, while the remaining 12…

No GST on properties with completion certificate
December 10, 2018

The Central Government has recently shared that all real estate properties that have gained completion certificates (CC) will not attract the Goods and Services Tax (GST). The Finance Ministry has made the announcement of the same. With this announcement, homebuyers will not be charged with GST on the sale of a complex/building and ready-to-move-in unit if it has received the completion certificate from the competent authority. However, GST will be applicable on sale of under-construction properties or ready-to-move-in flats where completion certificate is not issued at the time of sale. The Ministry further stated that affordable housing projects including Jawaharlal…

Press Release

K Raheja Corp’s commercial project receives USGBC Gold rating certification
December 10, 2018

K Raheja Corp’s commercial project receives USGBC Gold rating certification 10th December 2018 Mumbai-based real estate developer, K Raheja Corp earns the Gold rating certification from the U.S. Green Building Council (USGBC) for their commercial business park, Mindspace at Madhapur in Hyderabad. Building 12 A at Mindspace was recognised for its sustainable practices and was rewarded with 69 points by USGBC. Mindspace Madhapur is also the first Commercial Business Park in Hyderabad to be certified with an IGBC Gold Rating. 

PM to inaugurate Bogibeel Bridge on Dec 25
December 9, 2018

India’s longest rail-road bridge, Bogibeel Bridge, will be inaugurated soon. Officials have shared that Prime Minister, Narendra Modi, will inaugurate the Bogibeel Bridge on December 25, 2018. The longest rail-road bridge connects the north and south banks of the Brahmaputra river, falling in the eastern part of Assam and Arunachal Pradesh. Bogibeel bridge is a transport link in Assam between Dhemaji district and Dibrugarh district, providing a connection between the Rangia-Murkongselek section and Lumding–Dibrugarh section. The bridge has 39 spans of 125 m and a superstructure of composite welded steel truss and reinforced concrete. The bridge is 4.94 km long.…

Chhattisgarh RERA resolves 105 complaints till date
December 9, 2018

The Chhattisgarh Real Estate Regulatory Authority (CGRERA) has passed the final verdicts for over 100 complaints received from homebuyers under the Real Estate (Regulation and Development) Act (RERA). As per the information available on the RERA website, the State regulatory authority has received a total of 221 complaints under the Act. Of all the received complaints under the Act, the Authority has resolved a total of 105 complaints till date. The verdict on the same can be checked HERE. Download Chhattisgarh RERA complaint form - HERE Chhattisgarh RERA complaints Status Complaints received Complaints resolved 221 105 The State government had…

DMRC to develop Metro Phase IV on PPP model
December 8, 2018

The Ministry of Housing and Urban Affairs (MoHUA) has decided to involve private players in the development of the upcoming metro rail projects proposed by the Delhi Metro Rail Corporation (DMRC). Since the launch of DMRC, it is for the first time when the private players will be involved to run the operations. As a pilot project, the Delhi Metro Rail Corporation has allowed the development of the Phase IV of Delhi Metro on Public-Private Partnership (PPP) model. As per the proposal, the Corporation will lay down the track, while a private company will be responsible to get coaches on…

Only 12 lakh houses developed under PMAY-Urban
December 8, 2018

As per a recent report, only 12 lakh homes have been constructed under the Government's ambitious housing scheme, Pradhan Mantri Awas Yojana (PMAY) - Urban. Till November 2018, a total of 63 lakh units have been sanctioned for construction. Launched in 2015, the Central Government had set a target of developing one crore affordable housing units in urban areas by 2022. Considering the slow pace, CRISIL has observed that to meet the housing target under the scheme, the Centre requires to shell Rs 1.5 lakh crore by 2022. Prasad Koparkar, Senior Director, CRISIL Research, has stated that the Government will…

Delhi-Mumbai Expressway: Land acquisition completed in Haryana
December 8, 2018

The development of the Delhi-Mumbai expressway project has moved ahead with the land acquisition in Haryana. The land has been acquired to develop the 80 km stretch of the expressway corridor. This translates that the construction work of the expressway is more likely to start soon. Meanwhile, the land acquisition process is underway in other States including Rajasthan, Gujarat, Madhya Pradesh, and Maharashtra. As a part of the expressway, 380 km of road corridor will be developed in Rajasthan, 120 km in Gujarat, 300 km in Madhya Pradesh and 370 km in Maharashtra. Once complete, the expressway will cut the…

Construction Workers Act benefits only 15 pc labourers in Maharashtra
December 7, 2018

Under the Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996, the Maharashtra government has registered 70,000 labourers working on construction sites across the State. However, only 11,000 labourers were granted the benefits of the Act. Knowing this, the Supreme Court (SC) has termed the implementation of the Act a complete fail. A bench comprising of Justice Madan B Lokur, Deepak Gupta and Hemant Gupta stated that the status of remaining 59,000 labourers in the State is unknown. Moreover, the benefits awarded to the 11,000 labourers are still uncertain. In the past, the apex court…

Karnataka to build four lakh houses for low-income families
December 7, 2018

The Karnataka government will be constructing about four lakh houses across the State for the low-income families in the next five years. Of all these approved homes, a total of two lakh units will be developed in Bangalore alone. UT Khader, Urban Development Minister, has shared the recent development. The State government has already identified an area of 1,000 acres in Bangalore to construct one lakh houses for economically weaker sections (EWS) of the society. Chief Minister, HD Kumaraswamy will lay the foundation stone for the project on January 26, 2019. UT Khader has further shared that the State government…

Delhi Govt proposes a 14 km-long six lane elevated road
December 7, 2018

The Delhi government has proposed a six-lane elevated road from Mahipalpur Bypass (NH-8) to Barapullah elevated road. The decision was taken to reduce traffic congestion on Sarai Kale Khan-Dhaula Kuan stretch. The public works department (PWD), Delhi government has drafted a proposal of a 14 km-long road corridor, which will pass through Nelson Mandela Road, Vivekanand Marg, Africa Avenue, Leela Palace roundabout and Sarojini Nagar. The expected cost of the project is Rs 2,000 crore. The Department had suggested three options to decongest traffic movement, out of which, the six-lane stretch was considered as the best option. According to the…

Chandigarh: Resident’s body seeks 100 pc regularisation of CHB flats
December 7, 2018

The members of Chandigarh Residents Associations Welfare Federation (CRAWFED) have sought relief for the owners of Chandigarh Housing Board’s (CHB) housing units. The Federation has tabled the proposal to the UT Administrator, VP Badnore for approval. The Federation has urged the UT Administration to allow 100 percent regularisation of need-based alternations made within the boundary of the houses. For the regularisation, one-time compounding fee shall be levied, which will be fixed as per the category of the owner. It was found that the owners have constructed extra rooms to meet the demands of their extended families. The CHB has around…

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