Indian real estate news

Chandigarh makes fire NOCs mandatory for homes
July 1, 2018

In order to ensure fire safety compliance of buildings in the state, the Chandigarh Municipal Corporation (MC) is set to make no objection certificates (NOC) compulsory for residential structures. Presently, commercial, industrial and institutional buildings in the state are required to obtain fire NOCs. Once the rule is implemented, occupants of both old and new constructions will have to register for NOCs at the fire department and deposit the specified fee. The move will make it mandatory for residents to submit the fire protection plan highlighting the entire firefighting arrangements made along with the means of access and escape. As…

New greenfield commercial port planned in Kakinada, Andhra Pradesh
July 1, 2018

Andhra Pradesh is set to get a greenfield commercial port near Kakinada through the Swiss Challenge mode. The multi-cargo, all-weather and deep-draft port will be constructed by GMR Infrastructure 30 km north of Kakinada. It will span over 1,950 acres with an initial capacity of 16 million tonnes. According GMS Infrastructure, once the port is functional, it is anticipated to act as a gateway to the east coast of India. As per the terms of agreement, the Andhra Pradesh government will get a revenue share of 2.7 percent for a period of 30 years. Under this, the government will offer…

Bangalore civic body to attempt micro-surfacing on Cubbon Road
June 30, 2018

In a first, the Bruhat Bengaluru Mahanagara Palike (BBMP) has chosen a 2-km-long stretch of Cubbon road to try out micro-surfacing, a technique which makes roads waterproof. The innovative technology has been widely implemented in many foreign countries, but it is still new to India. Indian cities like Chandigarh and Chennai and Hyderabad have successfully tried this technique in the last few years. It is to be noted that BBMP had associated with Hindustan Colas Ltd (Hincol) last year to try out this technique on Ballari Road as a pilot project. Hincol, however, withdraw from the project since it was…

Mundka-Bahadurgarh Metro in Delhi opens for public
June 30, 2018

The Mundka-Bahadurgarh section of the Delhi Metro has been recently thrown open to public by the Prime Minister. While inaugurating the latest stretch of the metro via via video conferencing, the PM emphasised on the Government's priority to build comfortable, convenient and affordable urban transport systems in cities. He asserted on the need to boost government’s ‘Make in India’ initiative by making metro coaches in India itself. The 11.2-km-long elevated stretch between Mundka and Bahadurgarh is the extension of Delhi Metro’s Green Line that has seven stations namely Mundka Industrial Area, Ghevra, Tikri Kalan, Tikri Border Modern Industrial Estate, Bus…

Bangalore International Airport to go green by 2020
June 30, 2018

In a bid to become eco-friendly, the Bangalore International Airport Limited (BIAL) is planning to make Kempegowda International Airport (KIA) fully solar powered by 2020. According to airport authorities, the current power demand at the KIA is 11 MW per day, which is anticipated to increase to around 20 MW post completion of the second terminal. Presently, around 3.44 MW of solar energy is generated on a daily basis by the airport which is expected to reach 12 MW in total once the proposed capacity enhancement project is carried out in two phases. Additionally, the airport authority is also considering…

Cabinet approves MoU between India and Singapore
June 29, 2018

Prime Minister Narendra Modi approved the ex-post-facto agreement between India and Singapore on cooperation in the area of urban planning and development in the Union Cabinet. The Memorandum of Understanding (MoU) was signed on May 31 and will facilitate government agencies to adopt the expertise of Singapore agencies in the field of urban development and management. Many capacity building programmes in the field of planning, focusing on areas of urban planning, solid waste management, water and wastewater management, intelligent transport system and public financing (Public Private Partnerships) will be undertaken. The dissemination of knowledge of best practices would provide support…

Andhra Pradesh to use drones to trace illegal constructions in urban areas
June 29, 2018

The Andhra Pradesh Government is considering the use of drones to analyse the construction of illegal buildings in urban areas. In addition to this, the last three years have witnessed a slew of other reforms in the administration of urban civic bodies aimed at tackling corruption and improving services for the citizens. The municipal administration department oversees the performance of officials in municipal corporations and towns and has launched a citizen-friendly application as well. Citizens have been encouraged to file all kinds of grievances such as drinking water to drain cleaning to garbage lifting to dog menace through a mobile-based…

India ranked 35th globally on real estate transparency index: Reports
June 29, 2018

Implementation of a slew of reforms starting from demonetisation to Real Estate (Regulation & Development) Act, 2016 [RERA], land title insurance, Goods and Services Tax (GST), the Benami Transactions (Prohibition) Amendment Act and Real Estate Investment Trusts (REITs) played a vital role in improving India’s global ranking with respect to transparency in the real estate industry. As per the latest report by JLL,  Global Real Estate Transparency Index (GRETI) 2018, India has appeared amongst the top 10 countries that have shown maximum improvement in transparency in real estate over the last two years. Evaluated over 180 parameters against 100 other…

Property registration in Amritsar goes online
June 29, 2018

Property registrations in Amritsar can now be done online. The Punjab Chief Minister, Amarinder Singh, launched the portal on Wednesday through video conferencing. The government believes that the National Generic Document Registration System (NGDRS), launched in November 2017, will be a massive blow to corruption and red-tapism in property registration process. The registration of properties can be done through www.revenue.punjab.gov.in. The system has been automated to estimate the registration fee and stamp duty based on the collector rates. The 'Tatkal' system of appointment will also be launched soon. Several other cities have gone digital in property registration process including Bhatinda…

PMRDA orders Lavasa to upgrade master plan
June 29, 2018

Pune Metropolitan Region Development Authority (PMRDA) has ordered Lavasa Corporation to amend its master plan in accordance to the State’s hill station policy. The Corporation will first have to submit a draft plan suggesting alterations in the regulations, according to which rectifications will be done. The sectoral maps will be prepared subsequently, and approval shall be granted only after modifications. Lavasa was developed under the Hill Station Policy after the State government realised the development potential of the large tracts of land which could also help decongest the hill stations of Mahabaleshwar and Matheran. On November 26,1996 the government framed…

Cement sector to grow by 6 percent in FY19: Report
June 28, 2018

According to a recent report by ICRA, the cement industry is anticipated to register a growth of six percent in the current fiscal year, 2018-19. The growth is expected on the back of Government's housing scheme, Pradhan Mantri Awas Yojana, to construct 20 million affordable houses across the country by 2022. It has also been noted that the cement production reported a hike of 6.3 percent at 298 million tonnes in last financial year (2017-18) as compared to 280 million tonnes cement production in 2016-17. Maximum growth was registered during the second half of FY2018. Sabyasachi Majumdar, Senior Vice President,…

Uttarakhand HC bans construction of housing societies on agricultural land
June 28, 2018

The Uttarakhand High Court has directed the State government to stop granting permission of construction of group housing complexes on agricultural and orchard land across the State. The Bench has also suggested government to frame a set of rules to regulate the construction of group housing complexes within 90 days. The decision was taken as no actions have been taken by the State government against the development of unregulated societies throughout Uttarakhand. It has been observed that several builders have flouted building norms while developing colonies. Rampant use of agricultural land for such constructions and acute shortage of farming land…

Hyderabad: Rajendranagar to be developed as next IT hub
June 28, 2018

The Telangana government is planning to develop a new information technology (IT) hub in Rajendranagar in Hyderabad. About 350 acres of land has been parked between Budwel and Kismatpur for the development of an upcoming IT cluster. KT Rama Rao, IT minister, Hyderabad, has informed that about 28 IT companies have found the identified land parcel suitable for the set up of another IT hub. The decision was taken considering the land scarcity in areas such as Madhapur, Kondapur and Gopannapalli in Serilingampally mandal in Ranga Reddy district. In the coming years, Rajendranagar will be developed as another Serilingampally. Officials…

Andhra Pradesh RERA: Only 55 projects applied for registration till date
June 28, 2018

The Andhra Pradesh government has finally launched its official RERA website for registration of ongoing real estate projects and agents under Real Estate (Regulation and Development) Act (RERA). The Act was notified a year back aimed at overhauling the real estate sector by enhancing transparency and accountability of all stakeholders.  As per available data on Andhra Pradesh RERA website, a total of 55 applications have been received for registration of projects under the Act. Out of those, only 17 projects have been approved by the regulatory authority. The remaining 38 applications are still under scrutiny. List of Andhra Pradesh RERA approved…

Maharashtra comes forward on land acquisition for infrastructure
June 27, 2018

The State government is trying hard to acquire land for 15 major infrastructure projects that it intends to complete before 2019. The State will not only pay project affected people (PAP) and encroachers the money, but it will also acquire land owned by State-run bodies at 100% of the circle rate. In tribal areas, the government is first time considering giving individuals the net present value (NPV) of the income loss for over 25 years suffered because of huge projects. An official in the Chief Minister’s Office shared that for Metro projects in Maharashtra except for Mumbai, Chief Minister Devendra…

CHB to carry out seismic evaluation of houses
June 27, 2018

The Chandigarh Housing Board (CHB) plans to conduct a seismic evaluation of its dwelling units as they fall in the seismic zone IV, which is considered as ‘severe.’ The initiative is a part of a work being undertaken by the board before framing a policy for approving need-based changes. The board has developed housing schemes in many sectors, including 29, 38(west),40, 41, 43, 44, 43, 45, 47,51, 55, 56, 63 and Modern Housing Complex, with about 64,000 units of 100 categories. The board has also developed few rehabilitation housing schemes. To conduct the seismic evaluation, the board has initiated the…

Haryana sets Rs 10,000 as a limit for transfer fee in housing societies
June 27, 2018

The Haryana government has informed the Haryana Registration and Regulation of Societies (Amendment) Rules, 2018, under which housing societies will not be able to charge an amount of more than Rs 10,000 as transfer fee in case of change of ownership of a property. As per the notification announced last week, the society will also fix some maintenance charges. These charges will be adjusted on the basis of the size of the property for maintenance of common areas and other facilities. As per an official release, the present societies are also required to modify the by-laws accordingly and get the…

Gujarat Government relaxes land acquisition laws
June 27, 2018

The Gujarat government accepted the suggestions given by the high-powered committee (HPC), headed by the Chief Secretary, for amending the land acquisition laws in the State. Following this, the government proposed a series of pro-realtor and pro-industry changes such as allowing holding of the land even if the company/developer concerned has not developed a unit on the area within the maximum permitted period of 3 to 10 years. The committee has also proposed to revise the premium rate charged by the government on companies that fail to commission a unit on land acquired for industrial purposes. Use of farmland held…

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