Indian real estate news

State Housing Minister reviews Mangalore smart city project proposal
June 27, 2018

UT Khader, The Urban Development and Housing Minister, Mangalore shared that the work on all 66 projects worth Rs 2,400.72 crore, planned under the Mangalore Smart City project, will be taken up soon. At a review meeting supervised by the Minister and attended by MLAs Bharath Shetty and D Vedavyasa Kamath; it was informed that 28 development projects would be enforced under pan-city proposals. Officials described that the pan-city development will involve applying the selected smart solutions to the existing city-wide infrastructure. Implementation of such smart solutions will involve the use of technology, data and information to improve support and…

Haryana to allot over 7,500 EWS flats in July
June 26, 2018

The Haryana Housing Board will soon allot over 7,500 flats to families belonging to economically weaker sections (EWS) and below poverty line (BPL) in 21 areas across the State. The allotment of houses will be done by the end of July 2018. Jawahar Yadav, Chairman, Haryana Housing Board, has informed that flats will be allotted in Dharuhera, Sirsa, Kurukshetra, Panipat, Karnal, Rewari, Sonipat, Rohtak, Jhajjar, Hisar, Kaithal, Ratia, Pinjore, Gharaunda, Yamunanagar, Fatehabad, Bahadurgarh, Palwal, Ambala, Tohana and Narwana. All flats will be priced between Rs 4.5 lakh and Rs 7 lakh depending on the site and location. BPL families will…

Press Release

Sumadhura Group appoints MS Dhoni as brand ambassador
June 26, 2018

Sumadhura Group appoints MS Dhoni as brand ambassador25th June 2018 South India-based real estate developer, Sumadhura Group has roped in MS Dhoni as its brand ambassador. The builder is a member of CREDAI, Bangalore and Hyderabad and has a stronghold in these cities, having developed 30 projects in the last 20 years. The group is currently engaged in under-construction residential projects spanning 5 million sq ft while 8.2 million sq ft of space is under planning.

Land acquisition of Chennai Metro Phase 2 begins
June 26, 2018

The Tamil Nadu government has started the land acquisition for the proposed 48 stations of the Chennai Metro Phase 2. Estimated to be developed in Rs 85,000 crore, the Chennai Metro Phase 2 will cover around 107.5 km. The second phase of Chennai Metro will have three corridors - Madhavaram-Siruseri, Chennai Mofussil Bus Terminus (CMBT)-Lighthouse and Madhavaram-Sholinganallur. The State government has initiated the land acquisition process for 86 acres of land for the 55-km route proposed under the Phase 2. Furthermore, notices has been issued to the owners in Madhavaram, Sembium, Perumbur, Otteri, Sterling Road and near Gemini flyover in…

Karnataka RERA shares a list of projects under investigation
June 26, 2018

Karnataka Real Estate Regulatory Authority (Karnataka RERA) has uploaded a list of ongoing projects that have been applied for registration certificate under the Real Estate (Regulation and Development) Act (RERA). The list is available on the RERA website. Right now, the total number of such projects is 936.  NOTE: The list is updated (Addition & Deletion) on every Friday at 1 PM based on replies received from the developers in response to notices issued by RERA. You can check the list of RERA projects put under investigation HERE The authority has highlighted the warning in bold, stating "Public is hereby informed…

Pune authority approves draft plan of Mahalunge-Mann township
June 26, 2018

The Pune Metropolitan Regional Development Authority (PMRDA) has approved the draft development plan for the Mahalunge-Mann town planning scheme. The approval was given as per the Maharashtra Regional Town Planning Act. With this approval, roadwork can be initiated, informs PMRDA officials. The final development plan of the town planning scheme, which is spread over 250 hectares is expected to be tabled and sanctioned within six months. Kiran Gitte, Chief, PMRDA, has stated that the Authority will convert all the land from agricultural to non-agricultural. The township will include residential complexes, commercial hubs and other infrastructure facilities. As per the draft…

Bihar RERA to impose 300 percent penalty on late registration
June 26, 2018

The Bihar Real Estate Regulatory Authority (Bihar RERA) has decided to impose a penalty on builders for late registration of ongoing real estate projects under the Real Estate (Regulation and Development) Act (RERA). RERA officials have informed that the developer will have to bear a late fee of Rs 3 lakh or 300 percent of the registration amount if he fails to register his project within the stipulated time. Earlier, the Authority had imposed Rs 1 lakh or 100 percent of the registration fee, whichever is higher, on developers registering their projects until May 31, 2018. The revised registration deadline…

Over three lakh more houses sanctioned under PMAY (Urban)
June 26, 2018

The Ministry of Housing and Urban Affairs (MoHUA) has recently sanctioned over three lakh affordable homes under the Pradhan Mantri Awas Yojana (Urban) - PMAY (U). With this announcement, the Ministry has approved over 51 lakh houses under the housing scheme in the last three years. Officials have stated that the Housing Ministry has conducted its 35th Central Sanctioning and Monitoring Committee (CSMC) meeting of PMAY where about 3,18,900 houses from 6 States/UTs have been sanctioned. Maharashtra has gained the maximum number of home sanctions - 2.48 lakh. An estimated demand for houses in urban centres under PMAY was calculated…

76 of 92 applications approved by Tamil Nadu Rera from Coimbatore district
June 25, 2018

Tamil Nadu Real Estate Regulatory Authority (TNRERA) has received 92 applications from the district for registration, out of which 76 have been approved. Coimbatore settled at the second place to Greater Chennai Corporation in the number of applications. In February, TNRERA received 56 applications and 43 of them were approved. Selvakumar secretary of projects, TNRERA, shared that TNRERA had been sending notices to the realtors, who had not yet approached the regulatory body for approval. Around 1,400 show cause notices have been sent to the realtors across the state. Most of the realtors have answered back stating that the projects…

Chennai Metro Phase 2 land acquisition begins
June 25, 2018

Chennai Metro Rail Limited (CMRL) has begun the acquisition of land required to build the 107.55km metro project under phase-2 and residents are being issued notices in this regard. The project is awaiting Centre’s approval and is aimed at linking the northern and southern suburbs with the city centre at an estimated cost of Rs85,047 crore.   A CMRL official shared that they have started issuing notices to owners of properties located in Madhavaram, Perumbur, Sembium and Otteri, where corridor 3 and 5 is planned. Corridor 3 will link Madhavaram Milk Colony with Siruseri Sipcot, which will pass through significant…

Mumbai: Old development plan to be in force till August
June 25, 2018

The State government has declared that the city's new development plan 2034 will come into effect from September 1. Till then, the existing development plan of 1991 will continue. There are two parts to the Development Plan. The actual sheets show the land use by using different colours and the rules used to implement the land use. Failure to upload the DP-2034 sheets on the BMC website indicate that the public did not have access to the changes that have been made. Being aware of this omission, the government issued two notifications stating that the period for submitting objections/suggestions for…

Govt notifies changes in Delhi Master plan
June 25, 2018

The government has notified the amendments in Delhi's Master Plan. The changes will also allow shop-cum-residence complexes to carry on activities permissible in a local shopping centre (LSC), subjected to conditions. LSCs are government-recognised marketing zones that cater to the day-to-day needs of the town’s population. The total floor area ratio (FAR) is the ratio of a building's total floor area to the area of the piece of land on which it is constructed. As per the amendments, if the total floor area ratio in the existing building exceeds the permissible FAR on plots of size above 100 sqm and…

Gurgaon: Properties not paying tax to face e-auction
June 24, 2018

The Municipal Corporation of Gurgaon (MCG) will conduct an e-auction for the properties of which taxes have not been paid despite the corporation issuing several notices to them. The announcement came after MCG’s offline property auction on Wednesday. Yashpal Yadav, MCG commissioner, shared that preparations for the e-auction process were underway and in the future, all auctions would be entirely online. It was found out that the bidders came together to demand properties at minimum prices and thus the auction was called off and from now on, only e-auctions will be initiated. In this regard, a notice has been issued…

Tamil Nadu to authorise Aadhar for property registration
June 24, 2018

The Property registration process is set to change in Tamil Nadu as the state government is mandating the Aadhar card, a 12-digit unique identification number for registration of properties. The move comes after a recent fraud involving the creation of forged Power of Attorney (PoA) for a plot worth Rs 4 crore occured at Madhavaram. A forged document was produced in the name of the legitimate owner of the 4,200 sq ft vacant plot in such a manner that she had handed over the PoA to another person. The owner of the property is a city-based resident, who is currently…

West Bengal govt declares new housing scheme
June 24, 2018

The West Bengal government has announced a housing scheme titled 'Nijoshree' to grant homes to people who can not purchase accommodations near the city with their existing monthly income. Firhad Hakim, state minister, shared that the decision was taken at a cabinet meeting, following the success of 'Banglar Bari,' a rehabilitation scheme under which slum-dwellers of Kolkata and other municipalities in the state were given one flat each. Under the 'Nijoshree' scheme, two categories of flats will be provided to people whose monthly earnings are not above Rs 30,000. Those earning up to Rs 15,000 per month are eligible to…

Punjab to roll out online land registration from June 22
June 23, 2018

The Punjab government is set to introduce the National Generic Document Registration System (NGDRS) that will provide online land registration facility at all sub-registrar offices of the district from June 22. Pradeep Kumar Agrawal - Deputy Commissioner shared that people can book an appointment for land registration online through the website www.igrpunjab.gov. The method to schedule the appointment is straightforward, citizen-friendly and provides reliable cyber security. Under this system, to apply for the registration of land the person has to go online and fill the relevant information regarding his fixed assets on the website. The rates of land are adjusted…

PMRDA grants four month extension for authorisation of illegal structures
June 23, 2018

The deadline for regularisation of unauthorised structures has been extended by Pune Metropolitan Region Development Authority (PMRDA) under its jurisdiction. The earlier time limit was June 21, which is now extended by four months till October, according to a new directive issued by PMRDA vice-president and Pune guardian minister, Girish Bapat. Post a review meeting on Monday, Girish Bapat decided to extend the deadline to October 31. PMRDA officials shared that they have received around 450 applications for regularisation and have decided to extend the deadline by four months so that the residents can submit important documents for legalisation of…

Haryana approves rapid rail network connecting Delhi and Rajasthan
June 22, 2018

The Haryana government has recently approved the Regional Rapid Transit Systems (RRTS) project for a high-speed rail system leaving from Sarai Kale Khan in Delhi to the Haryana-Rajasthan border near Shahjahanpur-Neemrana-Behror. Officials have shared that the RRTS will be developed in phases. Under Phase 1, an elevated stretch would be constructed starting from Old Delhi Gurgaon road to Lt Atul Katarya Chowk linking to Signature Tower Chowk and then along NH-48 up to Rajiv Chowk. The corridor will run along the highway up to Dharuhera, Rewari and Bawal. Thereafter, the RRTS will enter Rajasthan at Behror. Manohar Lal Khattar, Chief…

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