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

01 Feb 2023

According to experts, the most recent expansion of the metro network in the western suburbs is likely to improve accessibility, cut travel time in half and improve connectivity in the area. Line 2A runs from Dahisar to DN Nagar and Line 7 runs from Dahisar to Gundavali, Andheri (E). Experts believe that will these new lines now functional, the demand in the nearby micro markets will experience a 2-5% price increase. Some of the biggest builders in Mumbai such as Kanakia Spaces, Lodha Group, Adani Realty and more have ready and under construction projects along close to these metro stations.Read more

01 Feb 2023

The Chennai Metropolitan Development Authority (CMDA) in Tamil Nadu is considering a proposal to increase the floor space index (FSI) for properties located along the Chennai Metro Rail and MRTS corridors. For the first time in the state, the FSI is being proposed to be raised to 6.5, which is a significant increase from the previous maximum permissible limit of 4.87. This move is aimed at promoting commercial development along transit lines, improving accessibility and mobility for employment, and creating affordable housing opportunities in transit-oriented development zones.Read more

26 Jan 2023

A multi-year Memorandum of Understanding (MoU) was recently signed between Berkshire Hathaway HomeServices Orenda India and the Government of Maharashtra at the ongoing World Economic Forum Annual Meeting in Davos, Switzerland. Berkshire Hathaway HomeServices Orenda India is a division of one of the fastest-growing conglomerates in the world that specialises in urban infrastructure among other things. With this new partnership the company and the State Government will create and manage assets for physical and social infrastructure on a 1,000-acre plot of land in Raigad, adjacent to the planned Navi Mumbai international airport.Read more

23 Jan 2023

Prayagraj's real estate market is projected to experience significant growth as plans have been made for investments of roughly Rs 4,000 crores over the course of the next five years. Numerous real estate firms will begin development on at least 29 different housing projects in and around Sangam City soon. Vinayak Group is set to invest about Rs 590 crores, Paras Group has confirmed a Rs 300 crore project and Sai Dham Group has promised to invest around Rs 700 crores in seven residential projects. Omaxe Limited is looking to set up a Rs 500 crore project and Goyal Housing is said to be making an investment of Rs 400 crores.Read more