Indian real estate news

Online building plan approval to start from April 1 in Bangalore
March 21, 2018

The Bruhat Bengaluru Mahanagara Palike (BBMP) announces to take submission of building plan approval online from 1st April applicable for all new projects — both residential and commercial. According to the new system, BBMP officials will have to clear plan submissions in 30 days. In case of failure, the portal for that particular application gets locked and the assigned officer will be penalised. However, the manual process of seeking permission from the requisite engineers will continue to be in process for properties measuring 40 ft x 60 ft or smaller sites. The online process will smoothen the process of plan…

Govt offices owe Rs 15 crore worth property tax to Agra civic body
March 20, 2018

With financial year (FY) 2017-18 coming to a close, Agra Municipal Corporation (AMC) is going all out to make efforts to recover outstanding property tax dues from different government departments. Defaulter list includes over 60 government properties and Rs 15 crore as outstanding payments. Civic body records reveal that the biggest defaulter is the Government of India that has to repay Rs 3.20 crore property tax for occupying several office premises in the city. a)      Central Hindi Institute has to repay Rs 4.55 crore b)      Institute of Mental Health and Hospital needs to clear dues worth Rs 2.25 crore c)      …

Haryana govt frames Faridabad development plan-2031
March 20, 2018

The development plan of 2031 for Delhi NCR city, Faridabad has recently been framed by the Haryana government. The plan is drafted in consideration to an overall town density of 115 persons per hectares and can provide accommodation for 39.55 lakh people by 2031 within the urbanisable area of 34,368 hectares. The plan consists of proposals to urbanise the areas from Delhi border in the north to the foothills of Aravalli ranges in the west, Gurugram-Agra Canal in the east as well as the revenue estate of village Jharsently in the south. As explained in the report, the city’s expansion…

Government: No highway projects to states where land is sparse
March 20, 2018

In a recent announcement, the government has declared that no highway projects will be awarded if sufficient land is not available for construction. Last week, the NHAI board has come to a decision to dodge a situation happened in 2010-11 when several highway projects got stuck for years due to the paucity of land parcels and resulted in the cancellation of contracts. Till March, the NHAI and highway ministry have granted stretches of about 8,800 km against the target of 25,000 km, out of which only the construction of approximately 8,200 km completed against the target of 15,000 km. As…

Hyderabad RERA panel to be set up in 3 months
March 20, 2018

Hyderabad state government will establish a Real Estate Regulatory Authority (RERA) advisory panel within three months comprising representatives from civil society for timely and effective execution of the Real Estate (Regulation and Development) Act. Other than civil society members, builders, lawyers, architects and town planning authorities will be part of the panel. As for replicating the model here, the government will seek assistance from IT experts and agencies that supervised the execution of RERA in Maharashtra. Municipal administration - Principal secretary, Arvind Kumar addressed a delegation of Forum for People’s Collective Efforts (FPCE), and U-FERWAS, pointing out that this new…

SRA and MHADA redevelopment to come under MahaRERA’s scanner
March 20, 2018

The State housing development minister, Prakash Mehta announces that the redevelopment of slums and MHADA buildings will come under the umbrella of the Maharashtra Real Estate Regulatory Authority (RERA). Dharavi is majorly conquered by slum clusters and most of the buildings were constructed by the Slum Rehabilitation Authority (SRA). As per the prescribed norms, slums that are renovated by developers must be built under SRA guidelines and include a saleable portion, for new buyers, despite homes that are meant for reorientation of slum dwellers. The decision is speculated to influence the lives of around 50-55 percent of the total population…

Govt mulls easing green norms to push affordable housing
March 20, 2018

The central government has suggested to ease green norms for construction and building sector under which projects up to 50,000 sq metres will not entail prior 'environmental clearance'. This announcement is in the wake of increasing efforts towards accomplishing housing for all mission by 2022. The environment ministry has increased the relief limit of built-up area from 20,000 sq m to 50,000 sq m. However, such projects will need to abide by the environmental norms via self-declaration and certification at the time of obtaining construction approval from local authorities. While the ministry believes that this anticipated move would streamline the…

Surat: AAI to meet civic body officials to discuss building height issue
March 19, 2018

Airports Authority of India (AAI) in New Delhi and Surat Municipal Corporation (SMC) authorities are planning to hold a meeting on March 19 to brainstorm the height of the buildings blocking the flight trail of Surat airport runway. It is believed that AAI officials will be meeting M Thennarasan - municipal commissioner, at SMC headquarters. Main agenda of the meeting is to discuss buildings’ height on Vesu and Magdalla coupled with planned extension of runway on Dumas side of the airport. About 16 high-rise buildings block the airport’s landing path - 15 high-rises on runway 22 (Vesu and Athwalines side)…

Pimpri Chinchwad: Over 1 lakh online property taxpayers in FY 2017-18
March 19, 2018

In the Pimpri Chinchwad Municipal Corporation (PCMC) location, over one lakh property taxpayers paid tax online for the first time in nine years. Joint commissioner and chief of the property tax department, Dilip Gawde shared that approximately 1.19 lakh taxpayers paid their property tax online, accumulating Rs 138.21 crore. This also marks the first time in a fiscal, in last nine years, that over one lakh property taxpayers have used online medium to pay taxes. He added that the department commenced online tax collection in 2009-10 when merely 3,835 taxpayers used online medium. At the time, amount accumulated was Rs…

Affordable housing project to come up in Kalinga Nagar, Odisha
March 19, 2018

Chief Secretary, A P Padhi announces that the Odisha government will build an affordable housing project at Kalinga Nagar in Jajpur district over 2.79 acre land. This was decided at a meeting of Empowered Committee on Comprehensive Development Plan at the state secretariat. Padhi further added, "the project is a key step towards expansion of social infrastructure in Kalinga Nagar Development Authority (KNDA)." KNDA has been directed to safeguard the government land from any kind of infringement, discontinue illegal constructions and recover the encroached land. A separate advisory committee for KNDA is formed which involves all the major stakeholders. As…

PMC plans to increase new access points along Mula-Mutha
March 19, 2018

Pune Municipal Corporation is intending to enhance the number of river access points to 270 which will make the mula-mutha rivers more accessible to the citizens as well as protect the fragile ecology of rivers. Currently, the rivers have 53 access points and there will be 217 points added to the existing system in the form of sloped walkways, lower and upper promenades and steps. As per officials, increasing access points will inspire people to use them daily which will not just benefit in preserving the rivers, but generate wakefulness about issues threatening the rivers. As of now, a majority…

Mega transport hubs to come up in Chennai and Madurai
March 19, 2018

The Ministry of Road Transport and Highways (MoRTH) plans to establish two intermodal stations (IMS) in Madurai and Chennai that will incorporate multi-transport systems like taxis, buses, autorickshaws, suburban trains, and private vehicles. The stations will reduce the automobile use by providing hassle-free commuting by distinct modes of transportation to commuters. The project is intended to decongest traffic snarls in the State and National Highways of suburb cities. As per official sources, the anticipated stations are to be implemented through special purpose vehicles (SPVs) amongst the Bus Rapid System, National Highways Authority of India (NHAI), Mass Rapid Transport System, Southern…

MahaRERA urges Navi Mumbai civic body to clarify green clearance delay
March 19, 2018

Maharashtra Real Estate Regulatory Authority (MahaRERA) beckoned Navi Mumbai Municipal Corporation (NMMC) to provide evidence for taking a call on cases of delayed possession pertaining to Green World project on Thane-Belapur Road (Airoli). Navi Mumbai civic body’s Town Planning officials were called to confirm whether the delay in obtaining environment clearances occurred at their office. On January 5, they admitted to the authority that the delay took place at their level, revealed a direction by MahaRERA Member - Vijay Satbir Singh. Omitting the time span between January 1, 2016 and mid-2017, Singh then directed the builders to pay interest to…

Press Release

Paradigm Realty collaborates with Ram Developers for Thane-based affordable project
March 19, 2018

Paradigm Realty collaborates with Ram Developers for Thane-based affordable project19th March 2018 Paradigm Realty has joined hands with Ram Developers for constructing an affordable project, 'Zenith' at Pushpanjali Residency in Thane. The project will comprise G+30 storey flats, with 1BHK and 2BHK configurations, with 498 sq ft and 660 sq ft of carpet area, respectively. The price range starts from Rs 52 lakh. 

Press Release

Capacit’e Infraprojects bags contract worth Rs 256.58 crore from Alamelu Charitable Foundation
March 19, 2018

Capacit'e Infraprojects bags contract worth Rs 256.58 crore from Alamelu Charitable Foundation19th March 2018 Gurgaon-headquartered Capacit'e Infraprojects Limited, a reputed construction company, bagged a deal worth Rs 256.58 crore from Alamelu Charitable Foundation. The contract mentions civil, electro- mechanical and interior works at the Mahamana Pandit Madan Mohan Malaviya Cancer Centre Project, located in Sundarbagiya, Banaras Hindu University, Varanasi. Speaking on adding a marquee customer to its clientele, MD Rahul Katyal, commented, “This is our first project with Tata Trusts.”

Absence of land further stalls Dwarka Expressway project: NHAI
March 18, 2018

Bids for National Highways Authority of India’s (NHAI) project to develop the Dwarka Expressway have been received yet nothing is possible on the ground as suitable land has not been handed over by Haryana or Delhi governments. One contract has also been given out for the project.  At this pace, the Highway ministry might not be able to concretise Prime Minister Narendra Modi’s plan to lay the foundation stone for Dwarka Expressway project in April 2018. If reports are believed, in a letter to Haryana chief secretary - D S Dhesi, NHAI chairman, Deepak Kumar has stated that the authority…

MahaRERA tightens noose around errant developers
March 18, 2018

Maharashtra Real Estate Regulatory Authority (MahaRERA) Chairperson, Gautam Chatterjee recently announced that a directive to all 15,000 RERA-registered projects will be issued, asking them to conclude agreements with homebuyers in case they have accepted over 10 percent of the total apartment cost. This decision will benefit home buyers as well as produce valuable income for the government. The announcement was made at an event organised by consumer rights body, Mumbai Grahak Panchayat (MGP) to celebrate World Consumer Rights Day at Prabhodhankar Thackeray auditorium in Borivali. Incidentally, March 15 also marks the day when Lok Sabha cleared the Real Estate (Regulation…

Vadodara civic body recovers property tax worth Rs 85 lakh
March 17, 2018

Vadodara Municipal Corporation (VMC) sealed 531 properties as part of the sealing drive and recovered remaining dues on Wednesday. VMC officials pointed out that the exercise resulted in a property tax recovery worth Rs 85.25 lakh. The civic body also extracted Rs 34.25 lakh as professional tax and Rs 6.74 lakh towards motor vehicle tax. For water charges, an amount of Rs 1.25 lakh was recovered. Therefore, the total recovery was Rs 1.27 crore. Towards revenue, the lumpsum amount recovered reached Rs 417 crore during 2017-18.

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