Indian real estate news

Developers not keen to construct houses within Gurgaon civic body limits
October 24, 2018

In spite of various group housing schemes, the real estate developers are not keen on constructing affordable homes in Gurgaon. Certain gaps in the Government policy are proving to be a significant deterrent to the ambitious housing scheme. Officials have shared that the lack of readily available land in the prominent areas is the primary concern behind developers’ poor participation. In the case of availability of land, the prices for the land parcels are exorbitant in areas falling in Old Gurgaon and villages coming under the Municipal Corporation of Gurgaon (MCG) limits. Anand Mohan Sharan, Principal Secretary, Urban Local Bodies,…

Agra: Work on PMAY houses commenced without sewerage line
October 24, 2018

The Agra Development Authority (ADA) has started constructing affordable houses at Mahuakhera and Budhana villages under the Pradhan Mantri Awas Yojana (PMAY). It has been found that the construction of PMAY houses has begun without laying proper sewer pipelines. Moreover, the bookings for these housing units have already initiated. The last date of booking is October 31, 2018. Officials have shared that around 2016 flats would be constructed at Mahuakhera village, and 976 units at Budhana. The single-room units will be built at the cost of Rs 4.50 lakh. The Central and State government will jointly contribute an amount of…

Slum schemes in Mumbai not in line with new DCPR rules
October 24, 2018

In Mumbai, the new Development Control and Promotion Rules (DCPR 2034) could impact the implementation of the Slum Rehabilitation Authority (SRA) schemes if not amended accordingly. as not feasible. Deepak Kapoor, Chief Executive Officer (CEO), SRA, has found six notifications in the new DCPR 2034, which are making SRA projects unviable. The slum rehabilitation projects will be unexecuted if the rules for the scheme are not rectified. Moreover, no builder will be able to execute the slum projects. The redevelopment under the Slum Rehabilitation scheme follows with a higher FSI and higher tenement density. Thus, the open spaces stipulated in…

Maharashtra to set up housing body for PMAY implementation
October 24, 2018

The Maharashtra government has approved the formation of a dedicated housing corporation to implement various housing projects under Pradhan Mantri Awas Yojana (PMAY) across the State. Prakash Mehta, Housing Minister, Maharashtra, has shared that the Corporation would monitor the implementation progress of projects under PMAY. The State government will construct nearly 19.40 lakh houses by 2022. The Maharashtra Affordable Housing and Development Authority (MHADA) is implementing the ambitious project by adopting different models including public-private partnership and joint ventures. Officials have shared that the State Housing Authority is executing the sanctioned projects under the scheme. The newly formulated body, MahaHousing…

Tamil Nadu regularisation scheme receives lukewarm response
October 24, 2018

The Tamil Nadu government had launched a regularisation scheme for all unauthorised plots across the State. To achieve this, the State government had notified the Tamil Nadu Regularisation and Unapproved Layout and Plot Rules in May 2017. To get more applications for regularisation of unauthorised plots, the government had waived off penalty attached to such layouts. The regularisation scheme has received a lukewarm response. It has been found that only 40 percent of the illegal plots have been registered under the scheme. As per the official data, there are around 24 lakh illegal plots across the State. Ramaprabhu, Vice Chairman,…

Uttar Pradesh Govt disburses Rs 250 cr for Jewar airport
October 24, 2018

The Uttar Pradesh government has made the first installment of Rs 250 crore for the development of Jewar International Greenfield airport in Gautam Buddh Nagar. Surya Pal Gangwar, Civil Aviation Secretary, Uttar Pradesh, has passed the orders regarding the same. The sanctioned amount will be utilised for land acquisition. The State government has released the amount after the issuance of land acquisition notification under Section 11 of the Land Acquisition Act. According to the passed orders, the State government has released 10 percent of the total land acquisition cost. Officials have shared that the land acquisition process needs to be…

Five more villages to pay commercial tax in Chandigarh
October 23, 2018

The Chandigarh Administration has decided to bring five villages under the ambit of commercial tax. The matter has been forwarded to the legal department of the UT Administration for an inspection. Once the inspection is done, a notification for the same will be issued. The five villages in the city include Hallomajra, Kejheri, Palsora, Maloya and Dadumajra. It has been found that there are around 4,000 commercial properties in these five villages. The decision will help the Administration to generate around Rs 35-40 lakh annually. Currently, the Authority has been unable to procure any amount from these villages. Previously, the…

Punjab proposes hike in stamp duty for 17 items
October 23, 2018

The Punjab government has approved an ordinance to amend Schedule 1-A of the Indian Stamp Act, 1899, to increase the stamp duty rates. With this decision, the stamp duty rates of 17 items would be hiked. The move is expected to bring financial stability in the market. Out of the 65 items in the Indian Stamp Act, the stamp duty rates for 17 items in Schedule 1-A will be doubled. These 17 items include the agreement or memorandum of an agreement relating to the sale of immovable property, articles of association of a company when the authorised capital of the…

Bangalore civic body diverts Rs 1290 cr property tax cess
October 23, 2018

A certain portion of the total property tax collected by the Bruhat Bengaluru Mahanagara Palike (BBMP) is allocated for the improvement of libraries, facilitating hygiene and curbing beggary in the city. A recent audit report has observed that the civic body has diverted a fund of Rs 1,290 crore for other projects in the last four years.   It has been found that the civic body had not paid the health cess of Rs 950 crore, library cess worth Rs 230 crore and beggary cess of Rs 110 crore to the respective departments since 2013-14. The municipal corporation has collected…

Tamil Nadu residents face difficulty in receiving pattas
October 23, 2018

The Tamil Nadu government recently issued a notification making pattas mandatory for property transactions across the State. However, the residents in extended areas of Chennai including Kancheepuram and Tiruvallur are facing problems in receiving the pattas of their plots. The extended areas in Kancheepuram and Tiruvallur districts were merged with Chennai in August 2018, thereby doubling the size of the city from 176 sq km to 426 sq km. All the areas are now falling under the Greater Chennai Municipal Corporation area. A total of 67 villages from Alandur and Sholinganallur taluks in Kancheepuram and Ambattur, Madavaram, Maduravoyal and Tiruvottiyur…

Centre notifies Special Courts to hear Benami cases
October 23, 2018

The Central Government has recently notified Session Courts in 34 States and Union Territories, which will act as Special Courts for hearing cases filed under the Benami Transactions (Prohibition) Act. The decision to setup a separate legal institution in States and UTs was taken after consulting with Chief Justices of respective High Courts under the Act. In Delhi, the Courts of Additional Sessions Judge 02 in each district will act as the Special Court. The Act prescribes that every trial should be conducted as early as possible. The Special Courts should undertake every specific case effectively and resolve it within…

Centre to assign special team to resolve RERA issues in North East India
October 23, 2018

The Central Government has decided to setup a special team to identify and resolve issues pertaining to the implementation of the Real Estate (Regulation and Development) Act (RERA) in six north-eastern States - Arunachal Pradesh, Meghalaya, Manipur, Mizoram, Nagaland and Sikkim. The Housing and Urban Affairs Ministry has informed that the States have not notified RERA norms till date due to land issues. The special team will visit the States on October 26, 2018 to resolve all the issues proving as a hindrance towards the effective enforcement of the law. As of now, 13 States have appointed a permanent regulator,…

Punjab Govt announces regularisation policy for illegal structures
October 22, 2018

The Punjab government has announced a new regularisation scheme for all illegal and unauthorised colonies across the State. The announcement will benefit over 90 illegal colonies in Punjab. Officials have shared that there are as many as 94 illegal colonies in the State. The recent notification will provide an opportunity to owners of illegal structures who failed to apply for the regularisation scheme. Moreover, the new policy will dispose of pending applications, too. Tript Rajinder Singh Bajwa, Housing and Urban Development Minister, Punjab, has shared that the new policy reads that all illegal colonies developed before March 19, 2018, will…

Jammu civic body plans to construct 30,000 new housing units
October 22, 2018

The Jammu and Kashmir Housing Board (JKHB) is planning to construct around 30,000 housing units for residents of Jammu. Pawan Rathore, Vice Chairman, Jammu Development Authority (JDA), along with other senior officials, has inspected different areas across the State to develop the proposed housing units. The identified places include Bhalwal, Jagti, Majin Sidhra and Upper Thather. Both the Jammu and Kashmir Housing Board and Jammu Development Authority have been directed to work together to complete the housing project without much delay. Officials have informed that both the Authorities will also resolve any hurdles coming in the way of proper execution…

Property registration in Noida goes online
October 22, 2018

The Noida Authority has decided to go cashless for the process of property registration. From November 1, 2018 onwards, the Authority will make online payment mandatory for both individuals and commercial property owners to register their property on its website. Officials have shared that the owners will be allotted a Know Your Allottee - Unique Identity number (KYA-UID) through which they can track their property details and status online. An allottee can upload a form along with their ID proof and a scanned copy of the allotment letter on the website. The allottee will then receive a KYA-UID number which…

DDA to launch a dedicated portal for land pooling
October 22, 2018

The Delhi Development Authority (DDA) will be soon implementing a single window portal for land pooling policy. Once the online platform is live, people can apply to develop their holdings under the land pooling policy. The land pooling policy was notified by the Housing and Urban Affairs Ministry recently. The new policy includes urbanisation of about 95 villages of the city. The policy is aimed at providing affordable housing by overcoming the tedious land acquisition process and developing 17 lakh housing units accommodating around 76 lakh people. Tarun Kapoor, Vice Chairman, DDA, has shared that the formation of the portal…

Himachal Pradesh: 20 local bodies under ambit of TCP act
October 22, 2018

The Himachal Pradesh government has issued a notification to bring around 20 urban local bodies under the ambit of the Town and Country Planning (TCP) Act. The decision was made considering the construction ban imposed by National Green Tribunal (NGT) in Shimla and Kasauli. The Green Tribunal observed many illegal constructions at these tourist places. As per the notification, the towns and revenue villages falling under the jurisdiction of the urban local bodies need to properly follow the specific TCP rules before commencing any construction activity. The State government has suspended existing land use map of these areas for the…

Pimpri-Chinchwad: Over 80 pc taxpayers adopt online mode
October 22, 2018

The Pimpri-Chinchwad Municipal Corporation (PCMC) had introduced cashless transactions for the payment of property tax in 2008. Since the inception of the digital payment system, the property tax collection through cashless methods has significantly increased from about two percent in 2008-09 to 82 percent until October of the current fiscal, 2018-19. Dilip Gawde, Additional Commissioner and Chief, Property Tax Department, PCMC, has shared that around 2.36 lakh owners have paid a total of Rs 219.78 crore in property tax via the digital mode. Nearly 90,000 owners have paid the property tax of Rs 52.12 crore in cash during the current…

Page 9 of 428