22 Feb 2023

The redevelopment of 11 chawls in nine defunct National Textiles Corporation (NTC) mills is set to create 18 lakh sq ft of new construction in central Mumbai. Of this, approximately 6 lakh sq ft will be used to rehouse free of cost the 2,062 tenants currently residing in NTC chawls. The remaining 12 lakh sq ft will be given to the successful bidder of the chawls' redevelopment, with the free sale portion expected to be worth more than Rs 5,000 crore.Read more

21 Feb 2023

The National Green Tribunal (NGT) has imposed a fine of more than 113 crore rupees on Uppal Chadha Hi Tech Developers Pvt. Ltd. for violating environmental norms in its Hi-Tech Township across 14 villages in Ghaziabad and Gautam Buddha Nagar districts of Uttar Pradesh. The environmental compensation was calculated at 0.75% of the total project cost, and the NGT ordered the PP deposit the money with the Uttar Pradesh Pollution Control Board (UPPCB) within three months. The NGT expressed disappointment with the ED's lack of action in the matter and criticized the Central Pollution Control Board (CPCB) for being "very lenient" towards violators.Read more

21 Feb 2023

The Mysore Urban Development Authority (MUDA) is proposing to develop residential areas on approximately 1,000 acres of land through a joint agreement with farmers and landowners. After encountering some obstacles with their original plan to develop sites at Ballahalli, MUDA has now selected 250 acres in Daaripura village in Jayapura hobli and 750 acres in Bommenahalli village in Yelwal hobli. Many farmers have agreed to participate in the development project with MUDA under a 50:50 ratio.Read more

20 Feb 2023

A decree from the Maharashtra Urban Development Department has now placed 19.7 hectares of prime railway land located in Dharavi slums under the jurisdiction of the Slum Rehabilitation Authority. The state government is said to have paid Rs 800 crore to the Indian Railways in 2019 to purchase a total of 47.5 acres of land, which includes the 19.7 hectares to be included in the rehabilitation of Dharavi. Due to the 19.7 hectares of property owned by the railways and not under the control of the state government, efforts to rehabilitate Dharavi had previously failed. Adani Realty placed the highest bid at Rs 5, 069 crore, winning the much-coveted Dharavi redevelopment project.Read more

16 Feb 2023

The Maharashtra Housing and Area Development Authority (MHADA) has announced plans to construct 231 earthquake-resistant independent houses for the victims of the disaster, which claimed the lives of over 80 people. These 2-bedroom homes, measuring approximately 600 square feet, are being built in the Taliye village in Raigad district and are being constructed to provide a safe and secure living environment for the affected individuals. The cost of the project is estimated to be Rs 77 crore, with each house costing Rs 20 lakh, and will be fully funded by MHADA. The government agency is working to ensure that possession of 66 houses is given by April 2023, with the remaining houses being given in phases.Read more

16 Feb 2023

Earlier last week, an official representing the Uttar Pradesh Government announced that the Yamuna Expressway Industrial Development Authority (YEIDA) will now include 55 villages from the Khurja and Secunderabad tehsil divisions in the Bulandshahr district. The YEIDA now has 1,242 villages that have been notified in total. The Dedicated Freight Corridor (DFC), New Noida and the railway between Delhi and Howrah have all been included to the authority's domain.Read more

15 Feb 2023

The National Green Tribunal (NGT) has recently imposed an environmental compensation of INR 113.25 crore (approximately USD 15.2 million) on the developer of Wave City, a residential project located along National Highway 9 in Ghaziabad, Uttar Pradesh, India. The developer has been given three months to deposit the fine with the Uttar Pradesh Pollution Control Board (UPPCB). A three-member bench of NGT, led by Chairperson Adarsh Kumar Goel, passed the order after a report was submitted by a joint team of UPPCB, Central Ground Water Board, and the forest department officials.Read more

15 Feb 2023

The trend of sustainability in real estate is rapidly growing in India. In the past five years, the market has witnessed a 37% rise in the supply of certified buildings. The cost difference between conventional and green buildings has decreased, making it easier for developers to maintain profitability while incorporating green building practices. Also, homebuyers today are becoming increasingly aware of the importance of sustainability, which in turn is driving the shift towards a more sustainable real estate market in India.Read more

10 Feb 2023

The National Green Tribunal (NGT) has taken serious action regarding the deforestation and hill-cutting for a real estate project in Una, Himachal Pradesh. The NGT has ordered the local administration to investigate and has asked the officials, including the deputy commissioner, divisional forest officer, and others, to submit their replies within a month. This action was taken after a complaint was filed by Una resident Bhavak Parasher in November of last year.Read more

03 Feb 2023

In a bid to encourage and regulate green construction and technology, the Uttar Pradesh Government is set to create a specific set of guidelines and a framework to recognize energy-efficient buildings. The green building code will require buildings to adhere to specific norms, which will be formulated and approved by the Housing and Urban Planning Department. At present, the Indian Green Building Council provides ratings for green buildings in Uttar Pradesh. The council has already audited, examined, and certified over 130 buildings in the state as green building projects, with the majority being in the cities of Noida, Greater Noida, and Ghaziabad.Read more