Indian real estate news

India-Bangladesh inaugurate three infra projects
September 15, 2018

India has collaborated with the neighbouring country, Bangladesh for three major infrastructure projects improving the connectivity quotient between the two nations. The proposed infra projects have been inaugurated recently via video conferencing. The three infrastructure projects include a 500 MW additional power supply from India to Bangladesh through the existing Bheramara (Bangladesh) - Baharampur (India) interconnection, Akhaura-Agartala rail network, and renovation of the Kulaura-Shahbazpur stretch of Bangladesh Railways. The Prime Minister of India, Narendra Modi, has shared that the project to supply an additional 500 MW power to Bangladesh was decided back in 2015 during his visit to the neighbouring…

Government sanctions Rs 200 crore for road infra
September 14, 2018

In a bid to improve the road connectivity in the country, the Minister of Road Transport and Highways, Shri Mansukh L Mandaviya, sanctioned Rs 200 crores for road construction and improvement. The project is touted to improve the connectivity between five States including Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, and Diu.In the last four years, National Highways (NH) spanning 33,000 km have been constructed, and another 53,000 km are under various stages of implementation. Under this project, the Government aims to construct two lakh kilometres of National Highways by 2022. The Minister further shared that the construction work has been approved…

Telangana to pick up land sales during elections
September 14, 2018

The possibility of an early Assembly election in Telangana is expected to give a rise to the sale of land. Telangana elections will be held along with other States including Madhya Pradesh and Rajasthan. Political contestants from various domains present their land for sale to improve their liquidity to meet the election expenditure. C Shekar Reddy, Former National President, CREDAI, has shared that land transactions have already started improving, and may continue growing until the next two months till the polling is over. A similar trend was observed in the previous elections. Majority of the deals finalised at this time…

Infra and housing sectors receive a boost in Haryana
September 14, 2018

The Haryana Chief Minister, who is also the Minister in-charge of Town and Country Planning Department, has rolled out multiple regulatory reforms pertaining to the infrastructure and the housing market in the State. In Faridabad, he has decided to constitute a Metropolitan Development Authority, similar to the Gurugram Metropolitan Development Authority (GMDA), to carry out infrastructural projects. He has further directed to relax the building construction rules for Haryana Shahri Vikas Pradhikaran (HSVP) sectors and allowed the construction of four-storey residential buildings in all colonies carved by HSVP or by private colonisers. The CM has revealed that the government is…

MahaRERA directs Lavasa civic body to refund buyer’s money
September 14, 2018

Lavasa Corporation, which had promised to deliver the houses by 2012 and 2016, has been directed by the Maharashtra Real Estate Regulatory Authority (MahaRERA) to refund the money to the buyers in full. MahaRERA officials have informed that these apartments were booked in 2010 and 2014 but faced hurdles due to the status quo order on construction by the Ministry of Environment and Forests (MoEF) in 2010 followed by a financial crunch. The distraught homebuyers’ appeal was in limbo for long since MahaRera ruled that the complaints did not belong to its jurisdiction as they were not sold to the…

Nagpur civic body receives notice for property tax errors
September 14, 2018

The Bombay High Court, Nagpur Bench, has recently issued a notice to the Nagpur Municipal Corporation (NMC) for errors in the property tax. NMC Housing Tax Grievances Redressal Society has filed a Public Interest Litigation (PIL) and has asked the civic body to submit a reply within two weeks. The PIL reads that the Nagpur civic body does not maintain a proper ledger record of taxpayers. Misappropriation of funds by the municipal corporation has been found as well. The NMC Housing Tax Grievances Redressal Society has suggested that the system needs an overhauling by information technology (IT) initiatives and digitalisation.…

Pune Authority demolishes illegal properties in Wagholi, Mulshi
September 14, 2018

The Pune Metropolitan Region Development Authority (PMRDA) has demolished over 19,000 sq m of illegal multi-storeyed constructions in Wagholi and Mulshi areas. The move was taken after the order of the Bombay High Court refusing to invoke a stay order in the favour of illegal buildings. Kiran Gitte, Commissioner, PMRDA, has shared the Authority had issued several notices to owners of illegal properties, but no owner followed it. It has been observed that the owners intended to obtain stay orders against demolition. To achieve this, a petition was filed by the owners back in April 2018. Following the HC’s directive,…

Supreme Court orders demolition of illegal buildings in Aravalis
September 13, 2018

The Supreme Court (SC) has ordered to demolish all structures developed after August 1992 at Faridabad's Kant Enclave. All these constructions were made on the forest land. The Apex Court has directed concerned authorities to complete the demolition drive by December 31, 2018. After the demolition order, the environmentalists have demanded the Court to demolish all the structures constructed in a large portion is South Haryana, as all of such properties are causing continuous and irreversible damage to the Aravalis. According to the environmentalists, around 74,000 acres of land across Haryana was protected under Punjab Land Preservation Act (PLPA), and…

Shiv Vihar-Trilok Puri stretch to become operational by Oct-end
September 13, 2018

A section of the Delhi Metro’s Pink Line, running from Shiv Puri to Trilok Puri, is expected to become operational by the end of October 2018. The 17.8 km-long metro corridor will be advantageous for the commuters from East, Northeast, and Northwest Delhi. The upcoming metro corridor will have 15 stations, including Shiv Vihar, Johri Enclave, Gokulpuri, Maujpur, Jaffrabad, Welcome, East Azad Nagar, Krishna Nagar, Karkardooma Court, Karkardooma, Anand Vihar, IP Extension, Vinod Nagar, Vinod Nagar East, and Trilokpuri. The stretch will have three interchange stations, one each at Welcome, Karkardooma Court and Anand Vihar. The stretch will also improve…

MRTP Act needs amendment: Revenue Dept. to Maharashtra Govt
September 13, 2018

The Revenue Department in Maharashtra has urged the State government to make necessary amendments to the Maharashtra Regional Town Planning (MRTP) Act 1966, to effectively review illegal properties across the State. Officials have shared that in the absence of any amendment to prohibit registration of illegal structures, the department cannot deny registration of properties. In June 2018, the Urban Development Department (UDD) had directed not to grant registration certificates to authorised properties in the State. The Department had asked all urban bodies to prepare a list of illegal properties and submit it to the sub-registrar's office for record keeping and…

Centre urges West Bengal to revoke its version of RERA
September 13, 2018

The Central Government has urged the West Bengal government to repeal its version of Real Estate (Regulation and Development) Act (RERA). The State government had notified its own version of RERA – West Bengal Housing and Industrial Regulation Act (WBHIRA). The move is carried out to avoid any confusion for homebuyers and builders. DS Misra, Union Housing Secretary, has sent a letter to the State Chief Secretary after noticing that the State government has not given presidential assent to WBHIRA. The Law Ministry has stated that the State is required to receive presidential assent for its real estate law. Officials…

MahaRERA asks civic bodies to classify over 600 unregistered projects
September 13, 2018

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed the local civic bodies to create and submit a list of over 600 unregistered projects across the State. The decision was made on the back of several complaints filed with the Authority against the unregistered projects. Officials have shared that the regulatory authority has received complaints against a total of 717 unregistered real estate projects. Out of which, MahaRERA has granted a certificate to 111 ongoing projects across the State. Homebuyers are allowed to file a complaint against unregistered projects on the MahaRERA website by paying a fee of Rs 5,000.…

Mumbai-Pune expressway to collect toll tax till 2030
September 12, 2018

The Maharashtra State Road Development Corporation (MSRDC) has decided to continue the toll collection on the Mumbai-Pune Expressway till April 2030. The Corporation will not exempt any light motor vehicle (LMV) from paying levy at five toll plazas on the expressway.   The State government has presented an affidavit through the Public Works Department (PWD) stating that they will not stop collecting toll until April 2030. As per the contract, the government has to collect the toll tax until August 10, 2019. However, the State government has extended the date of collection till 2030 that has enraged the people as…

Work on Indore Metro to commence in October 2018
September 12, 2018

Madhya Pradesh Metro Rail Co Ltd (MPMRCL) has shared that the foundation stone of the first phase of the Indore Metro project will be laid in the first week of October 2018. The construction work will commence soon after. Nishant Warwade, Collector, Indore, has shared that tenders for the project have already been issued. The construction work will start immediately. Concerned departments are closely working towards the removal of any obstructions in the Metro route. Special attention is also being given to ensure no damage to heritage structures during the construction of the city’s metro, adds Warwade. The scarcity of…

National Green Tribunal restricts construction activities in Goa
September 12, 2018

The National Green Tribunal (NGT) has passed an order concerning the structures developed within the No Development Zone (NDZ) of the Coastal Regulation Zone (CRZ) after 1991. The order states that buildings violating the CRZ norms will not be regularised. All structures owned by the traditional coastal communities, protected under the CRZ norms, cannot be sold for commercial purposes. Under the CRZ Notification 1991, the dwellings of the traditional coastal communities, including fisherfolk and tribal, can be regularised. The regularisation process will only be applicable to the properties that have failed to receive a formal approval from the concerned authorities…

Trial run of Ahmedabad Metro to commence in January 2019
September 12, 2018

The Ahmedabad Metro will commence its first trial run on the 6.5-km stretch running between Vastral village and Apparel Park in January 2019. The stretch is a part of the 20.73 km-long East-West corridor of the metro project. The East-West Corridor will connect Vastral in East Ahmedabad with the western suburb of Thaltej. Vijay Rupani, Chief Minister, Gujarat, has shared that the work for the trial run is underway and the testing of the same is more likely to be conducted in January. Upon visiting the underground section of the metro project at Kalupur railway station, the Chief Minister proposed…

Maharashtra approves two new metro projects
September 12, 2018

The Maharashtra government has approved the development of two new metro rail projects in Mumbai – Dahisar to Mira Bhayander and Andheri to Chhatrapati Shivaji Maharaj International (CSMI) airport, covering a total distance of 13.5 km. Both these metro rail projects are expected to incur a total cost of Rs 6,607 crore. The State government has approved Dahisar-Mira Bhayander and Andheri-Chhatrapati Shivaji Maharaj International (CSMI) airport corridors as Metro line 9 and Metro line 7A, respectively. Officials have shared that the Metro line 9 is expected to reduce the commuting time between the two neighbouring cities by 40 minutes. The…

Delhi-Meerut rapid metro receives investment approval
September 12, 2018

The Delhi Meerut Rapid Rail running between Delhi and Meerut will soon become operational. The inter-ministerial panel will shortly approve the investment required for the first corridor of the rapid rail network. Once the investment plan is approved, the construction work on the first phase of the project will commence. Post the launch of the rapid rail, the travel time between the two cities will be slashed to 55 minutes. The rapid rail project will be implemented by the NCR Transport Corporation, established by the Central Government. The rapid rail project is anticipated to be completed by 2024. The Housing…

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