PNT Reporter

17 May 2023

Noida and Greater Noida authorities are contemplating a co-developer policy to resolve the longstanding issue of incomplete housing projects. The proposed policy would allow new firms to invest in and complete these projects, provided they clear nearly INR 40,000 crore in land dues. This move could bring relief to many homebuyers who have been waiting for a decade for their homes. The policy, initially suggested by the Confederation of Real Estate Developers Association of India, also includes potential incentives for developers prioritizing clearing the dues.Read more

PNT Reporter

17 May 2023

Panchkula residents are facing a grave issue as construction and demolition waste continues to accumulate in vacant areas throughout the region. The Municipal Corporation's indifference to the violations has allowed violators to go unpunished, resulting in the city's transformation into a wasteland. Despite the corporation's resolution to impose fines and provide designated disposal areas, the response from individuals and entities has been lacklustre. The lack of accountability and action from the civic body has caused dissent among the locals, who feel let down by their elected representatives.Read more

PNT Reporter

16 May 2023

Greater Chennai Corporation (GCC) is imposing hefty fines, over Rs.20 lakh monthly, to enforce proper debris disposal as part of their management strategy. Amidst rampant construction and demolition, property owners are held responsible for their waste. The city generates around 500 tonnes of debris daily, which is now managed by a hired private contractor. The contractor collects waste from designated dump sites and transports it to processing centres, where it's turned into reusable resources like sand. This initiative balances Chennai's rapid urban development with environmental sustainability.Read more

PNT Reporter

16 May 2023

In response to concerns over open space policies, local residents of Mumbai have written an open letter to Chief Minister Eknath Shinde, Deputy Chief Minister Devendra Fadnavis, and BMC Chief IS Chahal. The letter, made public on last week, calls for rigorous enforcement of the city's open space policy to prevent misuse, and for the maintenance and caretaking of public spaces to become a mandatory duty of the BMC.Read more

PNT Reporter

16 May 2023

The Maharashtra State Electricity Distribution Company Limited (MSEDCL) has disconnected power to 16,413 defaulting consumers in Pune, who failed to clear three months' worth of electricity bills. The MSEDCL is also processing disconnections for another 71,098 customers with unpaid dues. The crackdown, which includes commercial, industrial, and domestic consumers, is part of a special drive to recover long-overdue payments. Defaulters have been warned of strict action under the Indian Electricity Act 2003 if they resort to unauthorized power sourcing.Read more

PNT Reporter

16 May 2023

In an effort to address the problem of stalled real estate projects, Forum for People's Collective Efforts (FPCE) President Abhay Upadhyay has suggested lifetime bans for the responsible developers. Proposing nationwide audits to identify such projects, Upadhyay recommends removing the original promoters from their roles and conducting forensic audits to trace fund diversions. The suggestions, aimed at safeguarding homebuyers' interests, were presented to Amitabh Kant, Chairman of the Committee on Stalled Projects. The issue remains particularly severe in Delhi-NCR, one of India's largest property markets.Read more

PNT Reporter

15 May 2023

The government is reportedly planning to introduce a special carve-out within the Insolvency and Bankruptcy Code (IBC) to exempt homebuyers who occupy a house without completing the necessary paperwork from being considered part of a builder's inventory. This would prevent a situation where a homeowner who has taken possession of the property and has been living there for years, faces questions about their eligibility for the full value of the house, while other creditors take a significant cut as part of debt resolution of the builder. The proposed change would benefit consumers, but the process may get complex.Read more

PNT Reporter

15 May 2023

Kottayam district in Kerala is witnessing a surge in vacant NRI-owned mansions due to an increasing trend of overseas migration. The once-thriving region, flush with NRI investments, now hosts nearly 100 such deserted properties up for sale. The trend, initially led by the Knanaya Catholic community, has spread across other local communities, causing a significant increase in unoccupied homes. Local businesses, schools, and societal structures are affected, leading to calls for government intervention to understand and address this mass migration phenomenon.Read more

PNT Reporter

15 May 2023

The Tamil Nadu Pollution Control Board (TNPCB) is set to launch criminal proceedings against apartment complexes in Padur, near the Muttukadu backwaters, for severe environmental transgressions. The directive follows a complaint lodged with the National Green Tribunal (NGT) by a local resident, highlighting improper waste disposal in this ecologically sensitive region. In response, the apartment owners have been instructed to pay a penalty of 81.9 lakh for environmental damage. The case highlights the critical need for effective waste management and strict adherence to environmental regulations in rapidly urbanizing areas.Read more

PNT Reporter

15 May 2023

The Jamshedpur Notified Area Committee (JNAC) has begun a series of unexpected audits of commercial buildings, penalizing owners unlawfully using basements for business operations. The inspections, set to continue over the coming weeks, were initiated after three stores were found violating regulations. These actions follow a directive from the Jharkhand High Court, emphasizing the enforcement of municipal rules and building codes. Owners have been instructed to clear out the parking spaces within a week, with the JNAC set to enforce penalties for non-compliance.Read more