Indian real estate news

Tamil Nadu to open 27 sand quarries by August
July 5, 2018

The Tamil Nadu government will be opening 27 new sand quarries across the State in a streamlined approach for catering the requirements of the construction industry. Within a week, three quarries are planned to be opened in Thanjavur and Namakkal districts. This technology-driven project will also limit illegal mining and keep a check on smuggling of sand to the neighbouring states. An environment clearance (EC) was obtained by the sand wing of the public works department (PWD) from an expert committee of the State Environment Impact Assessment Committee (SEIAA) for quarries in Sarkarpalayam in Namakkal and Pavanamangalam and Vazhkai in…

Nagpur Authority issues notices to unauthorised layouts
July 5, 2018

The Nagpur Metropolitan Region Development Authority (NMRDA) pulled a string on 29 unauthorised layouts and slapped them with legal notices for not acquiring requisite sanctions in the Metro Region. Around 140 unauthorised buildings, too, have been issued notices, thereby increasing the total count to 1,468, from an earlier number of 1,328 buildings. From the East division in Kamptee tehsil, nearly 18 unauthorised layouts have been identified, whereas, from the West division in Nagpur (rural), Kalmeshwar and Hingna tehsils, six unauthorised layouts have been given notices. The northern division in Kamptee tehsil has one layout and, the South division in Nagpur…

Maharasthra Govt prohibits land dealings near Purandar Airport
July 5, 2018

The Pune collectorate and Maharashtra Airport Development Company (MADC) has delayed the land acquisition process at the proposed Purandar airport site. Taking advantage of this, several real estate agents have started purchasing land from farmers available around the proposed airport area and the ring road that will connect the airport with the rest of the city. The increase in the number of deals in these areas, as compared to the previous annual sales here, has been verified by the revenue department. The Pune district administration has taken up steps to restrict these activities by imposing a ban on land dealings…

Pimpri Chinchwad civic body collects Rs 181 cr property tax in Apr-Jun
July 4, 2018

The Pimpri Chinchwad Municipal Corporation has generated a total of Rs 181.68 crore as property tax during the first quarter of the current financial year, ending June 2018. The civic body has offered several schemes and offers to 1.72 lakh taxpayers. About 14,000 taxpayers have been benefitted from all announced schemes. The municipal corporation has offered concessions worth Rs 10.92 crore. Last year, the PCMC had collected Rs 187.46 crore as tax during the same period with concessions worth Rs 10 crore. Dilip Gawde, Joint Commissioner and Chief of the Property Tax Department, has informed that lack of knowledge about…

Uttar Pradesh sets housing targets under PMAY (Gramin)
July 4, 2018

The Uttar Pradesh government has set a target of houses to be developed under the Pradhan Mantri Awas Yojana (PMAY) - Gramin across the State for the current fiscal year, 2018-19. The State government has prepared a district-wise for the same. Anurag Shrivastav, Principal Secretary, Department of Rural Development, has stated that about 75 districts have been identified under the scheme. The government has shared the targets to all district commissioners, district magistrates and the chief development officers across the State. It has been identified that there are nearly 11,82,574 beneficiaries in the State. A total of two lakh houses…

Over 1.6 lakh houses are unoccupied in India: Housing Ministry
July 4, 2018

According to the Housing and Urban Affairs Ministry, about 1.6 lakh houses are vacant across India. Out of these, 70 percent of unoccupied houses are built in five States - Delhi, Maharashtra, Telangana, Uttar Pradesh and Andhra Pradesh. The statistics reveal that Delhi has the maximum number of vacant homes with 36,623 units. Maharashtra has 35,517 vacant residential units. About 18,000 units are vacant in Telangana, 12,000 in Uttar Pradesh and 11,000 in Andhra Pradesh. These vacant low-cost houses were developed under various urban housing schemes approved under Jawaharlal Nehru National Urban Renewal Mission (JNNURM), Rajiv Awas Yojana (RAY) and…

Punjab RERA: List of approved projects and agents till date
July 4, 2018

The Punjab Real Estate Regulatory Authority (Punjab RERA) has approved a total of 546 ongoing real estate projects across the state till now. All necessary project details are available on PunjabRERA official website. List of Approved Projects by Punjab RERA - Click to Download As of now, over 1,000 real estate agents have been registered by the Authority. As per the latest information on the Punjab RERA website, a total of 1026 agents have got RERA certificate.  List of Approved Agents by Punjab RERA - Click to Download The Punjab government had notified the Real Estate (Regulation and Development) Act…

Telangana RERA website to go live on August 1, 2018
July 4, 2018

The Telangana Real Estate Regulatory Authority (Telangana RERA) will launch RERA website for registration of ongoing real estate projects and agents under Real Estate (Regulation and Development) Act (RERA) on August 1, 2018. The State government has recently joined hands with Mahaonline Ltd, a JV between the Maharashtra government and TCS, to develop and maintain the Telangana RERA website for the next three years. Arvind Kumar, Principal Secretary, Ministry of Administration & Urban Development, has informed that the beta version of the website is in process. After completing trial runs, the RERA portal will be officially launched in August. Officials…

MHADA to offer 7,300 homes through a lottery
July 3, 2018

The Maharashtra Housing and Area Development Authority (MHADA) is offering around 7,300 flats in the Mumbai Metropolitan Region (MMR) under its lottery scheme which is touted to be one of the biggest schemes to be held since the last 6-7 years. The lottery process is anticipated to commence next month and will offer 7,300 houses, of which, around 4,000 are constructed under the Pradhan Mantri Awas Yojana (PMAY). Around 2,000 houses each are situated at Khon near Kalyan and Shirdhon near Panvel, whereas nearly 3,300 homes are have been constructed at Virar. According to Vijay Lahane, Chief Officer, Konkan Division…

GST relaxation propels sale of affordable homes
July 3, 2018

Key government initiatives, especially pertaining to the Goods and Services Tax (GST), such as lower tax slab for affordable housing and no applicable GST on ready homes have given a thrust to the sale of these two segments in the last one year. The input tax credit, too, has played a vital role in boosting homebuyer sentiment. The majority impact on the sale of affordable homes was witnessed post the reduction in the initially announced GST tax slab of 12 percent to eight percent. The change was made effective from January 25, 2018. The reduced tax rate is pertinent to…

Kochi metro body awaits approval for Kakkanad township project
July 3, 2018

The Kochi Metro Rail Ltd (KMRL) is waiting for formal approval from the State government pertaining to the development of the proposed township at Kakkanad. The township will span over 17 acres and is anticipated to generate a revenue of nearly Rs 300 crore from the sale of apartments, commercial complexes and other amenities. According to A P M Mohammed Hanish, Managing Director, KMRL, the matter has been discussed in a meeting held with State’s Chief Secretary, and the State cabinet is in favour of giving the Kakkanad land to KMRL. The implementation of the project is important to facilitate…

PMC general body authorises drafting of DP for merged villages
July 3, 2018

Pune Municipal Corporation’s (PMC’s) general body has authorised drafting of the Development Plan (DP) for the villages merged with it. The inspection of properties and reservations at the ground level for the DP will start soon. According to a senior official, the process to draft DP will commence formally once the local self-governing body along with the improvement and standing committee gives a green signal. A coordinating team will also be formed to conduct the hearings. The official added that approval from the general body means that the actual and proposed land use can now be defined. Spaces for public…

Tamil Nadu mandates completion certificate for water and electricity connections
July 3, 2018

An order issued by the Tamil Nadu government has made it mandatory for all public buildings in the State to submit building completion certificate issued by the Department of Town and Country Planning (DTCP) without which, no water and electricity connections would be installed. To ensure if the building is in compliance with the approved plan, the order mandates examination of the structure at two stages of construction. The new rule will be applicable to all such buildings that had attained planning permission from DTCP after April 16. DTCP will only issue the building completion certificate after the owner submits…

Affordable housing township to be developed in Navi Mumbai
July 2, 2018

Another affordable housing township will be developed at Panvel, Mumbai Metropolitan Region (MMR) by a renowned developer. The proposed township will be constructed in the Navi Mumbai Airport Influence Notified Area region at Panvel at an estimated cost of Rs 4,000 crore. About 10,000 affordable houses will be built. Spread across 450 acres, the housing project will be developed in phases. In the first phase, nearly 138 acres will be developed. The builder will initially construct 3,000 apartments. Of the proposed 10,000 flats, a total of 1,000 will be allotted to the State government to handover such flats to the…

Rajasthan RERA to issue notices to builders for not registering projects
July 2, 2018

The Rajasthan Real Estate Regulatory Authority (Rajasthan RERA) has decided to serve notices to those who have not registered their projects in rural areas across the State with the regulatory authority. Last year, Rajasthan RERA has mandated all ongoing projects in rural parts of the State to get registered with the Authority. All developers in rural areas were given a deadline of 90 days to register their realty projects in the rural region of the State. However, only 20 developers have registered their projects till date. Considering this lukewarm response, the Authority will soon issue notices to all errant developers.…

MahaRERA maps over 4500 registered projects using GIS
July 2, 2018

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has mapped around 4,500 registered projects across the State through the Geographical Information System (GIS). This would enable all homebuyers to get extensive information about flats of registered real estate projects. On the MahaRERA website, citizens can check all details about flats by clicking on the option 'view on map'. Users can check all the infrastructure schemes around the project including hospital, school and playground. Vasant Prabhu, Secretary, MahaRERA, has shared that GIS mapping of all registered projects will be instrumental. The Authority has partnered with MahaOnline for mapping of properties. As per…

Delhi: Traders to pay one-time conversion charges
July 2, 2018

With the latest amendment in Master Plan Delhi 2021, traders will now have to pay one-time conversion charges for using residential buildings for commercial use. Earlier, it was used to be an annual activity. Officials have shared that owners will now have to pay one-time charges of Rs 6,136 per sq m for their shops in A & B category colonies. Earlier, Rs 767 per sq m as conversion charge was charged. For local shopping complexes, the one-time charges have been fixed at Rs 22,274 per sq m in A & B category colonies, Rs 14,839 in C & D…

Tamil Nadu revises financial limit of smart city SPVs
July 1, 2018

According to an order issued by the municipal administration and water supply department of Tamil Nadu, the powers of the Special Purpose Vehicles (SPV) formed under the smart city project has been increased in the state. This implies that boards set-up by various smart cities will now have a modified financial limit for smart city proposals and projects. Other than Chennai, there has been a revision in administrative sanction power for other corporations from Rs 1.35 crore to Rs 3 crore. The Greater Chennai Corporation, which earlier had an upper limit of Rs 10 crore can now approve projects up…

Page 4 of 392