Indian real estate news

Vadodara civic body serves notices to property tax defaulters
September 11, 2018

The Vadodara Municipal Corporation (VMC) has served notices to owners who have not paid property taxes. The municipal corporation has also warned defaulters to pay the outstanding taxes soon to avoid the auction. Officials have informed that a failure to pay the property tax will result in the property’s auction. The Vadodara civic body has identified around 18,000 properties with unpaid taxes amounting Rs 25,000 per unit. VMC will soon issue notices to all the 12 administrative wards with over 500 properties. The civic body has already issued notices to all wards with less than 500 tax defaulting units. RM…

UP Govt to acquire 1,200 hectares land for Jewar Airport soon
September 11, 2018

The Uttar Pradesh government will soon issue a notification to acquire 1,220 hectares land for the development of the first phase of Jewar International Airport. Officials have shared that the about 3,076 landowners have given consent to acquire 1,138 hectares of land. The first phase of the International Airport will require around 1,220 hectares of land which lies with nearly 8,300 landowners. The State government has already received a consent for 93 percent earmarked land but the final approval from 70 percent landowners is still pending. For a successful land acquisition, the government has to get the consent of 70…

Andhra Pradesh to re-introduce BPS for regularisation of illegal units
September 11, 2018

The Andhra Pradesh Government has decided to re-introduce the building penalisation scheme (BPS) in order to regularise all illegal structures developed across the State. To achieve this, the State government has asked departments to prepare the draft bill to amend the existing law. A team of senior officials have suggested the government to revive the scheme with certain amendments. The committee has also shared a detailed report for consideration, and set December 31, 2018 as the last date to accept the applications under BPS. Officials have shared that new constructions and under construction units would not be regularised under the…

Jammu Authority warns buyers against illegal land transactions
September 11, 2018

The Jammu Development Authority (JDA) has identified people dealing in an illegal sale of land in 26 different areas of the city. The Authority has advised prospective investors to stay cautious from such fraudulent land deals. Pawan Singh Rathore, Vice Chairman, JDA, has stated that the sale of the land in some areas is being carried out using invalid and illegal documents. These areas include Pargalta, Majalta, Nagrota, Jagti, Khanpur, Sitni, Panj Grain, Kore Jagir, Malori Jagir, Sidhra, Gole, Mujeen, Rangora, Sunjwan, Tangar, Choudi, Dilli, Mirpur, Gadigarh, Rakh Raipur, Belicharana, Paloura, Balwal, Kot, Keran, Khari and Nagbani. Any sale or…

Gujarat’s Land Ceiling Act amendment receives approval
September 11, 2018

The President of India, Ram Nath Kovind, has finally approved the Gujarat Agriculture Land Ceiling Bill 2018. The Central Government had rejected the Bill twice in the past and suggested certain amendments. In March 2018, the State’s Revenue Department had re-tabled the Bill for approval. The Gujarat Agriculture Lands Ceiling Bill 2018, attempts to provide amendments to the Agricultural Land Ceiling Act, enforced in 1960. The old law restricted an individual to own agricultural land beyond a certain limit. The legislation has further empowered the State government to acquire surplus land and allot the same to agricultural co-operative societies, landless…

Haryana Govt directs builders to transfer EWS houses to housing board
September 11, 2018

The Haryana government has directed all developers to transfer their inventory of Economically Weaker Section (EWS) houses to the State’s housing board. The decision was made to ingest transparency in the allotment of EWS houses across the State. Earlier, the developers invited applications and conducted a draw of lots in the presence of a Government official. In the process, many applicants submitted fake documents to qualify for the below poverty line (BPL) category, making them eligible for a house. Mahendra, City Project Officer, Municipal Corporation of Gurgaon (MCG), has shared that the Housing Board will now make allotment of units…

Karnataka RERA: List of approved projects and agents
September 11, 2018

After Maharashtra, Karnataka is the second most active state in the implementation of the Real Estate (Regulation and Development) Act (RERA) rules. The Karnataka government had launched an online portal for registration and filing complaints under RERA, and a regulatory authority for smooth execution of rules in the state. As per the latest information (as on September 11, 2018) available on the Karnataka RERA website, about 1,313 realty agents have applied for registration under the Act. Further, applications of 2,525 projects have been submitted to the portal. Of these, 2,009 projects have been successfully registered with the regulatory authority. Meanwhile, a…

Highway Ministry approves 700-km long Dhanbad-Raipur road project
September 10, 2018

To improve the road connectivity, Ministry of Road Transport and Highways has announced the construction of a new road corridor between Dhanbad and Raipur under the Bharatmala project. The proposed road corridor will be 707 km long. A Detailed Project Report (DPR) is being prepared. The upcoming corridor is expected to boost the economy of the State and will create employment opportunities. Under the Bharatmala project, the Ministry has announced the development of roads and highways measuring a total of 950 km across Chhattisgarh. Under the ambitious project, the Government has granted in-principle nod to about 47,890 km length of…

Tripura to allot land to 9500 homeless families by December
September 10, 2018

To provide shelters to the homeless, the Tripura government has decided to allot land to 9500 homeless families across the State. The land will be first allotted to homeless families living under below poverty line (BPL), which is expected to be done by December 2018. To allot land parcels, the State government has included a provision under the Tripura Land Revenue and Land Reforms Act, 1960. NC Debbarma, Revenue Minister, Tripura, has shared that there are about 1.27 lakh families in the State who have not received any land for the development of houses. Under the Right to Forest Act,…

DDA approves land pooling policy
September 10, 2018

The Delhi Development Authority (DDA) has finally approved the long-pending land pooling policy, aimed at providing affordable housing and triggering overall economic development. As per the industry estimates, the new land pooling policy will lead to the development of 17 lakh housing units that will accommodate around 76 lakh people. Landowners holding any size of land can participate by pooling land parcels covered under the sector as per the zonal development plan. The minimum permissible area for development is two hectares. For the development of infrastructure, an integrated sector-based approach will be followed. DDA has slashed the Floor Area Ratio…

Maharashtra announces payment plan for slum rehabilitation
September 10, 2018

The Maharashtra government had announced a rehabilitation scheme for people living in Mumbai's slums. Now, the State government has floated a payment plan for the scheme. As per the payment plan under the rehabilitation scheme, all eligible slum dwellers are required to pay for the cost of construction, infrastructure development charges and a specific percentage of the administrative cost of the Slum Rehabilitation Authority (SRA).    The rehabilitation scheme has been approved for residents who have developed tenements between January 2000 and January 2011. Officials have shared that the beneficiary will have to pay Rs 10 lakh as the maximum…

Bangalore authority announces 10 percent discount on flats
September 10, 2018

The Bangalore Development Authority (BDA) has decided to offer a five percent discount to individual homebuyers, and a 10 percent discount to bulk homebuyers of flats developed by the development authority on Mysore road.    G Parameshwara, Deputy Chief Minister, Karnataka, has shared that the decision to offer a discount on the home purchase has been given to speed up the housing sales in the region, and to start all required development works from the sale proceeds. For those who book or buy 10 flats at a time will get 10 percent discount on the total cost of the house.  …

UPRERA urges authorities to submit a list of delayed housing projects
September 10, 2018

The Uttar Pradesh Real Estate Regulatory Authority (UPRERA), Greater Noida Bench, has demanded a list of delayed housing projects from concerned authorities in Noida, Ghaziabad, and Yamuna Expressway. The decision was taken to identify delayed projects in NCR that can be fast-tracked towards completion and delivery. The regulatory authority has given 10-days' time to submit the list of delayed projects. Rajive Kumar, Chairman, UPRERA, has shared that after receiving the list of delayed projects, the Authority will get into action to complete all such ongoing housing projects in Noida, Greater Noida and Ghaziabad. Officials have shared that out of all…

Over 295 road projects to be completed by March 2019
September 9, 2018

To decongest vehicular traffic on National Highways across the country, the Central Government has announced the development on over 1,800 road projects covering a total length of over 60,000 km is underway. Of all announced projects, about 295 major road projects including bridges are expected to be completed by March 2019. Mansukh Mandaviya, Minister of State for Road Transport and Highways, has stated that as many as 1,837 infrastructure projects costing Rs 6.45 lakh crore covering a total length of 61,164 km are at the development stage. The Government has included provisions of over-bridges and underpasses as an integral part…

Work on an elevated corridor in Haryana to begin soon
September 9, 2018

The Haryana government has announced the development of a new elevated highway running from Badshahpur to Sohna to improve the infrastructure status of the State. The construction work on the elevated corridor will commence from September 21, 2018. Rao Narbir Singh, Public Works and Development Minister, Haryana, has announced the development of the elevated corridor. Once the construction of the corridor is completed, the travel time between the two places will be reduced by half. The travel time between Rajiv Chowk and Badshahpur will be cut to just 8 to 10 minutes. At present, the travel time is around 30…

Andhra Pradesh to allot over 15,000 houses under PMAY (Urban)
September 9, 2018

The Andhra Pradesh government has sanctioned the allotment of over 15,000 affordable homes for the current fiscal year, 2018-19 under Pradhan Mantri Awas Yojana (PMAY) - Urban. The State government has also decided to allot new dwelling units to people living dilapidated houses in rural parts of the State from 1993-94 to 2006-07. The allotment would be made under the NTR rural housing scheme. Officials have shared that a total of 15,091 flats will be allotted to the selected beneficiaries in 2018-19 under PMAY-NTR Nagar scheme. In another development, the State government has decided to grant one-year subsidy of Rs…

Agra, Kanpur, Meerut metro services to open by 2024
September 8, 2018

The Uttar Pradesh government has announced that a Detailed Project Report (DPR) of proposed metro rail services in three cities of the State - Agra, Kanpur, and Meerut is ready. The prepared report has also been tabled to the Central Government for a final nod. Yogi Adityanath, Chief Minister, Uttar Pradesh, has shared the development about the upcoming metro rail services on the first anniversary of Lucknow Metro. The State government has estimated about Rs 471 billion as the cost incurred for the completion of metro rail services in three cities. The finances would be raised through share equity, debt,…

Centre approves a four-lane bridge at Bhagalpur
September 8, 2018

The Central Government has given an in-principal nod for the development of a four-lane bridge parallel to Vikramshila Setu at Bhagalpur. The four-lane corridor has been given the National Highway status. The project is expected to be completed at an estimated cost of Rs 1,700 crore. The total length of the bridge would be 15 km. For the development of the proposed bridge, 52 acres of private land would be acquired. The project will be executed by Bihar Rajya Pul Nirman Nigam Ltd. Officials have shared that the existing Setu is in dilapidated phase coupled with traffic congestion. Nand Kishore…

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