21 Jun 2023

The property registration department of Maharashtra is awaiting the delivery of new software from the National Informatics Centre (NIC) to improve the leave and license registration system. Complaints about technical glitches have been reported since April, and the updated software is expected to resolve these issues and expedite registrations. The president of the association of service providers highlighted the software's potential to streamline the process. In the meantime, citizens have faced delays in receiving complete documents. The property registration department has cleared pending documents but continues to process thousands of registrations daily, raising concerns about the reliability of the old software.Read more

21 Jun 2023

The Bruhat Bengaluru Mahanagara Palike (BBMP) is set to intensify its anti-encroachment drive, with plans to dismantle 110 structures in Mahadevapura and KR Puram within 15 days. This marks a revival of the campaign after the May 10 assembly elections, following which, eviction orders were issued for properties associated with 110 survey numbers identified as encroachments. The BBMP is working in close collaboration with the revenue department and surveyors to ensure smooth and legal execution of the task.Read more

20 Jun 2023

Residential real estate is projected to thrive as interest rates stabilize, ensuring healthy demand for the next few years. Top real estate companies excelled in FY23, reporting significant pre-sales growth, with DLF standing out by doubling its pre-sales. Despite higher launches, inventory overhangs were avoided due to improved sales velocity and strategic price hikes. The absorption rate for top cities remained steady, but renewed interest from first-time buyers is expected to drive growth. Additionally, large developers expanding into new markets will enhance industry growth. The outlook remains positive for the residential real estate sector.Read more

20 Jun 2023

The Ministry of Housing & Urban Affairs in India has directed all states and Union Territories to provide information on stalled housing projects within their jurisdictions. A committee led by Amitabh Kant has been formed to examine the projects comprehensively and propose measures for their completion. The government's initiative aims to expedite the delivery of homes to distressed homebuyers who have been awaiting possession. State governments are collaborating with homebuyers' associations to gather comprehensive data on stalled projects, facilitating the formulation of effective action plans.Read more

20 Jun 2023

Chintels Paradiso residents are grappling with looming eviction threats as the developer allegedly demands the termination of their temporary accommodation within a week. This move comes amidst ongoing issues with structural defects that led to a major collapse in February 2022. With half of the 180 affected families yet undecided on the compensation offer, and the recent order for residents of Tower G to vacate, the crisis at the residential complex has intensified. As residents battle housing rights and safety concerns, the situation necessitates urgent attention from both the developer and authorities.Read more

20 Jun 2023

In Gurugram, structural audit firms are nearing completion of visual inspections for serious construction defects in over 70 high rise societies. With 90% of the surveys complete, the district administration prepares to select 15 societies for detailed auditing based on the findings. This effort follows a tragic building collapse last year, highlighting a commitment to enhancing safety measures and addressing construction flaws across the city's residential societies.Read more

20 Jun 2023

In a recent development, the Coimbatore Corporation took decisive action by sealing a building situated on a 12-cent OR land, which had been unlawfully rented out to a private individual for commercial purposes. Under the leadership of Assistant Town Planning Officer A Babu, a dedicated team was responsible for executing the operation. Not only did they seal the building, but they also successfully retrieved the land, valued at a staggering 2.25 crore.Read more

PNT Reporter

19 Jun 2023

The Nashik Municipal Corporation (NMC) has issued a warning to builders in the city, instructing them to adhere to safety guidelines and exercise caution while carrying out excavation work during the monsoon season. The NMC's action comes after a road in Govind Nagar area suffered partial collapse last year due to excavation activities, causing disruptions in vehicular movement. In response, the NMC has written to real estate organizations, including CREDAI and NAREDCO, requesting them to inform their members about the need for extra precautions during rainy season construction activities.Read more

PNT Reporter

19 Jun 2023

Delhi Development Authority (DDA) has raised concerns over the delay in laying water and sewer lines at the Jailorwala Bagh rehabilitation housing project for slum dwellers. In a letter to Lieutenant Governor V Saxena, DDA alleged that the project's inauguration and house allotment were hindered due to the Delhi Jal Board's (DJB) delayed approvals. The absence of a water and sewer network has caused significant delays. Additionally, DDA highlighted the reliance of Kalkaji rehabilitation project residents on water tankers due to the lack of a regular water supply by DJB.Read more

PNT Reporter

19 Jun 2023

According to property consultancy Anarock, the average size of newly launched apartments in India's major cities has seen a significant increase, with a 5% annual surge during the first quarter of 2023. This reflects the evolving real estate market, where developers are catering to the rising demand for larger living spaces. Among the cities, Delhi-NCR experienced the most prominent surge, with average flat sizes expanding by 50%. The trend signifies a shift from previous preferences for compact homes, driven by affordability and millennial lifestyle trends.Read more