Indian real estate news

Karnataka to develop pre-fabricated houses for 750 homeless families
August 29, 2018

The Karnataka government will develop pre-fabricated houses to rehabilitate homeless families in Kodagu district due to natural calamities. The State government has identified about 42 acres of land to develop pre-fabricated units to accommodate over 750 families. UT Khader, Housing and Urban Development Minister, Karnataka, has stated that the houses would be developed according to the topography and withstand natural disasters. It has been reported that around 1,120 houses have been damaged in the recent floods and landslides. The natural disaster made 6,500 people homeless. Officials have informed that the pre-fabricated units will be developed in different shapes and sizes…

Centre frames rules to backlist errant builders in Delhi
August 29, 2018

The Central Government has framed a set of rules for blacklisting developers, contractors and architects responsible for any sort of illegal and unauthorised constructions in Delhi. An advisory has been forwarded to State governments as well in order to take suitable measures against any unauthorised real estate activity in their respective areas. The guidelines have been framed after a directive passed by the apex court in July 2018. The rules have been tabled to the Supreme Court for the final nod. Once the rules are approved by the Court, newly framed norms would be made public. Officials have shared that…

Slum authority identifies over 7,000 units near Juhu airport
August 29, 2018

In Mumbai, the Slum Rehabilitation Authority (SRA) has identified about 7,000 units in slum areas adjoining the Juhu airport. A survey was also conducted in areas such as Indira Nagar, Shivaji Nagar and Nehru Nagar to select beneficiaries for in-situ rehabilitation scheme. Deepak Kapoor, Chief Executive Officer (CEO), SRA, has stated that the survey was conducted in order to promote the redevelopment and rehabilitation of slums in the city. A team of five officers have been formed to identify the beneficiaries. The State government had announced an in-situ rehabilitation scheme for people living in slums adjacent to the Chhatrapati Shivaji…

Centre approves 1.12 lakh more houses under PMAY (Urban)
August 29, 2018

The Central Government has sanctioned the construction of over one lakh more houses in urban cities across eight States under Pradhan Mantri Awas Yojana (PMAY) - Urban. The approval of construction of more affordable homes was granted by the central sanctioning and monitoring committee (CSMC) of PMAY. Officials have informed that nearly 1,12,213 houses have been sanctioned by the Ministry under the scheme. Of all sanctioned homes, a major share of 37,000 units would be developed in Andhra Pradesh. As many as 37,719 units have been sanctioned in Andhra Pradesh, 19,858 units in Haryana, 18,375 units in Madhya Pradesh, 12,238…

Vadodara civic body serves notices to over 200 unsafe buildings
August 29, 2018

The Vadodara Municipal Corporation (VMC) has served notices to the owners of 225 old and dilapidated buildings that were found to be dangerous during a survey. The move comes following two events of house collapses within a fortnight that took life of a man while three others were injured. The incident occurred on August 11, when a house situated in the Faqri Mohalla in Gendigate collapsed. The other incident happened in the Shahid Chowk in Baranpura when reports of a vacant house collapsing emerged. The government then directed the authorities to conduct a fresh survey of old properties to assess…

Developers reluctant to adopt title insurance fearing cost escalation
August 28, 2018

According to experts, real estate developers across India are reluctant to adopt title insurance fearing financial burden, despite it being listed as mandatory under the provisions of the Real Estate (Regulation and Development) Act. A title insurance safeguards real estate investment and covers financial loss occurring from defects in title and other inconsistencies related to property acquisition.   Under section 16 of the RERA act, it is compulsory for builders to adopt title insurance once the regulatory authority of each state has notified the same. As of date, no regulator has issued an official notification in this regard. MahaRERA, however, has…

Construction on Delhi-Mumbai expressway to commence from December
August 28, 2018

According to the Union Road Transport and Highways Minister, Nitin Gadkari, construction work on the proposed Delhi-Mumbai expressway will commence from December and it will be finished within three years. Estimated to cost Rs 1 trillion, the expressway which was proposed to run parallel to the NH-8 will now run towards the East owing to the high land acquisition cost involved. Gadkari added that the expressway will touch upon two of the country’s most backward regions - Mewat (Haryana) and Dahod (Gujarat). It will run through Delhi, Gurgaon, Mewat, Kota, Ratlam, Godhra, Vadodara, Surat, Dahisar and Mumbai. The new alignment…

MMRDA to evaluate salt pan land for affordable housing
August 28, 2018

In a bid to assess the amount of salt pan land in Mumbai that can be utilised for constructing affordable housing projects, the Mumbai Metropolitan Region Development Authority (MMRDA) will conduct an activity of overlaying the new Coastal Regulatory Zone Maps (CZMP) on salt pan land maps.  The decision has drawn flak from the environmentalists who are of the view that the exercise will lead to environmental disasters. Paradoxically, Mumbai Metropolitan Region’s (MMR’s) Draft Development Plan, published by the development authority in 2016, terms salt pan lands vital from the economy, livelihood and salt production perspective. Being shallow and depressed…

HUDA to e-auction of 29 commercial sites in Panchkula
August 28, 2018

Haryana Urban Development Authority (HUDA) is set to conduct an e-auction on August 30 where 29 commercial sites situated in eight different sectors of the city will be put on sale. These sites include small booths, SCOs and built-up booths. Sector 2 has three booths with storage space on the first floor, Sector 5 has four three-storey SCOs with basement; while Sector 6 and 9 have one three-storey SCO with a basement, each. There are two small booths without basement, two booths with storage space on the first floor, and a three-story SCO situated in Sector 11 internal market. In…

Tamil Nadu revises guidelines for property tax collection officials
August 28, 2018

In a bid to introduce a revised tax system, Chennai Corporation has sent an SMS to homeowners asking them for a self-declaration of their property details for tax purposes. The State has also issued detailed guidelines in this regard to all local bodies asking them to prepare a list of all the properties under housing society, slum clearance board, housing board, registers maintained by municipalities and corporations and ration cards maintained by civil supplies department to check omissions in the evaluation process. The State has also set a deadline to track the same. The concerned authorities will employ field staff…

Builders with fraudulently obtained OCs to be punished: Haryana RERA
August 28, 2018

Speaking at a seminar organised by Haryana Real Estate Regulatory Authority (HARERA) and Manav Awaaj Gurugram, HRERA Chairman, KK Khandelwal said that developers who have obtained the Occupation Certificate (OC) for their projects by unfair means, along with officials who are found to be involved in the same, will face a stringent action. Amidst speculation of dilution of the Central Real Estate (Regulation and Development) Act (RERA) norms by the State, he said that the State has not diluted the provisions of the Central RERA Act. Khandelwal asserted that with RERA in place, homebuyers now have single window solution in…

Eco-friendly infrastructure to be implemented in Panchkula
August 27, 2018

To improve the quality of life and promote an eco-friendly environment, the Panchkula Administration will be tying up with Indian Green Building Council (IGBC) of the Confederation of Indian Industry (CII). The move is set to provide eco-friendly changes to new buildings and infrastructure across the region. An IGBC Green New Buildings rating system has been launched by the council to address the concerns relating to water and energy efficiency, management of consumer waste, reducing the usage of fossil fuels and conservation of natural resources. The rating system helps the building designers to mitigate environmental impact effectively. As per the…

New sand mining norms leave 10 sites workable in Nashik
August 27, 2018

In order to protect the environment, the State government has laid down stringent rules regarding sand mining in Nashik and has reduced the possibility of mining sand in the city significantly. The move has ruled out 42 out of the 52 proposed locations. A target of Rs 96 crore from the mining of minor minerals was set up by the district administration, and 52 sites were identified where the mining could take place. Due to strict norms of the State government, the movement was cancelled across 42 sites. As of now, only ten sites can be put on auction during the…

Gujarat to adopt Maharashtra’s redevelopment plan
August 27, 2018

The redevelopment of creaky, low-rise housing societies and commercial complexes in Ahmedabad has often been a matter of dispute among developers and residents. Considering this, Gujarat is likely to announce a redevelopment plan on the lines of Maharashtra’s redevelopment model. While the State governments permit the redevelopment of private societies, the provisions of the existing Gujarat Ownership Flats Act, 1973 and General Development Control Regulations (GDCR) mandate a consent of 100 percent of the society members to initiate any redevelopment process. As per the new policy, the government is planning to relax the consent clause by allowing redevelopment even if…

Pune and other 25 Smart Cities to execute town planning schemes
August 27, 2018

The Ministry of Housing and Urban Affairs issued a directive to execute town planning schemes or local area-based plans on a pilot basis in 25 cities under the Smart City mission. Pune has also been included in the same project. As per the directive, the State governments will ensure the preparation of the redevelopment plan through local area planning (LAP); and urban expansion through town plan schemes (TPS). It will further monitor the physical and financial processes. The area for the TPS can range from 50 to 500 hectares, and LAPs need to be constructed to enhance public spaces. An…

RERA registration mandatory for real estate firms in Patna
August 27, 2018

The real estate firms in Bihar have been mandated to register themselves with the Real Estate Regulatory Authority of India (RERA). The decision rolled out by the State cabinet also said that properties not registered under RERA would not be registered with the registration office as well. Arun Kumar Singh, Principal Secretary, Cabinet Secretariat Department, shared that Bihar RERA has forwarded the proposal for implementing the relevant changes in the Bihar Registration (Amendment) Rules 2018 to comply with the registration decision. Once the Excise and Registration Department adopts a resolution for the same, the changes made in the rules will…

Bihar RERA work slackens due to lack of staff
August 27, 2018

The registration process of real estate agents and projects has slackened in Bihar as the authority is undergoing a staff crunch. The real estate regulatory authority (RERA) came into effect five months ago, and around 626 builders and promoters had applied for registration of their ongoing projects. As of now, only 140 projects and ten real estate agents have procured the licences under Section 3 of the Real Estate (Regulation and Development) Act 2016. The shortage of workforce has been identified as the prime reason behind the slow processing of real estate projects. Lack of staff has led to a…

Press Release

SHRI group launches SHRI Sky Park
August 27, 2018

SHRI group launches SHRI Sky Park27th Aug 2018 Mathura-based real estate developer SHRI Group, has planned to construct its third housing project SHRI Sky Park, in Greater Noida. The project will constitute 2000 housing units at an investment of Rs 600 crore and will offer apartments in the price bracket of Rs 18-35 lakh. It will be constructed under the ambitious Pradhan Mantri Awaas Yojana (PMAY) and will allow eligible beneficiaries to claim subsidy from the government.

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