PNT Reporter

24 May 2023

National Thermal Power Corporation (NTPC) facilities in East Uttar Pradesh have embarked on an eco-friendly initiative to manufacture durable building materials using fly ash, a by-product of thermal power generation. Aimed at curbing pollution and preserving natural resources, the initiative includes the production of aggregates, bricks, sand, and tiles, all under the brand 'Vikalp'. The company emphasizes stringent quality control and effective branding to promote these sustainable building alternatives.Read more

PNT Reporter

24 May 2023

DTCP has clarified that until a decision is reached by the expert committee, affordable housing plots under the Deen Dayal Jan Awas Yojna (DDJAY) will only be approved for three-floor constructions. This follows the halt on approvals for fourth-floor buildings earlier this year due to resident protests over insufficient infrastructure. The expert committee is set to decide on this issue soon, potentially altering the course for future housing constructions.Read more

24 May 2023

India's markets regulator, SEBI, has proposed granting special rights to unitholders of REITs and InvITs, including the right to nominate representatives on boards, to strengthen governance norms. The regulator also suggested the concept of self-sponsored REITs and InvITs and proposed applying the principles of stewardship code to board members nominated by unitholders. These proposals aim to empower unitholders, enhance monitoring of investments, and facilitate decision-making. SEBI has sought public comments on the proposals until May 29.Read more

PNT Reporter

23 May 2023

The Municipal Corporation of Gurugram (MCG) demolished a building with 30 apartments illegally constructed in Sukhrali Enclave, falling within the restricted zone near an Indian Air Force ammunition depot. The MCG commissioner suspended a junior engineer for negligence and ordered a chargesheet against him. The building was initially partially razed, but upon noticing this, the commissioner instructed its complete demolition. Authorities plan to file an FIR against the building owner, warning the public against buying illegal properties lacking basic amenities and property registries. MCG officials will continue demolishing such buildings in the area.Read more

23 May 2023

Mumbai, Bengaluru, and New Delhi have experienced a significant upswing in high-end residential property prices, according to a report by Knight Frank India. Mumbai secured the sixth position globally, with a notable 5.5 percent appreciation in annual price growth. Dubai topped the global index with a substantial increase in prime residential property values. The steady performance of the Indian economy, increased income and stability, and a trend of purchasing larger homes were identified as key factors contributing to the sustained demand for prime residential properties.Read more

PNT Reporter

23 May 2023

In a landmark move, MahaRERA is poised to conduct the inaugural certification examination for real estate. This follows a mandate that requires all existing and new agents to obtain certification for professional operation. The examination is a significant step towards elevating transparency and industry professionalism, aimed at protecting the interests of all stakeholders in the real-estate sector.Read more

PNT Reporter

23 May 2023

Smriti Irani, the Minister of Women and Child Development, has urged the Confederation of Real Estate Developers' Associations of India (CREDAI) to champion the rise of first-generation female developers in the property sector. In her address at the CREDAI Women and Youth Leadership Summit, she highlighted the importance of empowering young women and maintaining high construction standards while offering affordable housing. She challenged newly elected CREDAI President, Boman Irani, to produce 100 new female developers during his tenure, marking this as a milestone for success.Read more

PNT Reporter

22 May 2023

In the city of Mohali, the rapid growth of real estate construction has resulted in a mounting problem of construction and demolition waste. Piles of rubble can be found scattered across roads, vacant plots, and public spaces, indicating the lack of effective waste management. Despite the presence of two waste processing plants capable of recycling the waste, the community continues to ignore designated dumping grounds. The Municipal Corporation plans to act by imposing penalties and collecting waste from construction sites to be processed at authorized dumping sites.Read more

PNT Reporter

22 May 2023

Kolkata's Mayor, Firhad Hakim, has issued a stern warning to officials and engineers of the buildings department over ongoing illegal constructions. Building department officials face immediate suspension if they fail to report or act against unauthorized constructions within their jurisdictions. The mayor has also ordered the creation of a central demolition team to tackle this issue. The warning underscores the city's determination to curb illegal construction activities, promoting safety and integrity in the cityscape.Read more

PNT Reporter

22 May 2023

City Crime Branch (CCB) of Coimbatore has arrested T. Chandran, the head of a bogus real estate company, for defrauding 19 prospective homeowners of Rs. 62.47 lakh. Chandran operated Smart Home Developers, utilizing social media to target unsuspecting buyers. His arrest follows a complaint by a victim, Elson K. Joe, after a fraudulent sale agreement. The case against Chandran and his associates is ongoing. Police urge the public to remain vigilant when dealing with real estate transactions.Read more