PNT Reporter

06 Apr 2023

The Greater Noida Authority is cracking down on real estate developers who have defaulted on their land cost payments, with a plan to issue recovery certificates, stop-work notices, and cancel plot allotments to recover dues. Officials say the crackdown is likely to begin within a week. A total of 107 realtors owe Rs 5,650 crore in unpaid land costs. So far, 10 developers have applied to clear dues under the GNIDA’s rescheduling policy, and five others have cleared their dues.Read more

PNT Reporter

05 Apr 2023

Rajasthan's real estate market is experiencing a surge in housing plot sales, driven by factors such as homeownership desires and a more favourable stamp duty structure compared to flats. In Jaipur, land prices have risen by an estimated 70% in some areas over the past two years. The stamp duty, fees, and taxes on flats amount to about 23% of the cost, while for a plot, it is only about 3%. Experts caution that unchecked plotting could lead to chaotic urban growth and call for balanced market policies to ensure sustainable development.Read more

PNT Reporter

04 Apr 2023

In a recent Mohalla Committee meeting, residents of Aundh, Baner, Balewadi, and Pashan in Pune demanded that their civic body address various issues such as water scarcity in the area, the need to remove unnecessary overhead cables, clean up nullahs and stormwater drains before the monsoons, and other matters. They have requested the Pune Municipal Corporation (PMC) not permit the construction of new buildings until these issues are addressed.Read more

PNT Reporter

04 Apr 2023

The JP Taparia family, founders of the pharmaceutical company Famy Care, has reportedly purchased India's most expensive triplex apartment in Malabar Hill, south Mumbai, for over Rs 369 crore. The apartment is situated on the 26th, 27th, and 28th floors of the Lodha Malabar, a super-luxury residential tower on Walkeshwar Road. The transaction sets a new record for the most expensive apartment deal in India, surpassing the recent sale of a penthouse in the same tower to Bajaj Auto chairman Niraj Bajaj for over Rs 252.50 crore.Read more

PNT Reporter

04 Apr 2023

The Noida Authority has announced that it will issue recovery certificates to builders who are not participating in its schemes to clear outstanding dues. The Authority has launched several schemes to help builders clear their dues, including a one-time settlement scheme and a scheme that allows them to surrender their land in lieu of the dues. However, some builders have not shown interest in these schemes, prompting the Authority to take more stringent measures.Read more

PNT Reporter

04 Apr 2023

Residents in Dehradun are protesting the slow progress of the investigation into the four-year-old Orchid Park case. protesters gathered outside the Real Estate Regulatory Authority (RERA) office in Dehradun to demand action. The residents are demanding that they receive the apartments promised to them in the builder-buyer agreement. The protesters also criticized RERA for not taking more action in the matter and urged the body to take more aggressive actions to resolve the issue.Read more

PNT Reporter

04 Apr 2023

The Bombay High Court recently heard a petition regarding the redevelopment of Ratilal Mansion at Parekh Street in Girgaum, Mumbai, which had been stalled for a decade. The project was originally being carried out by Orbit Corporation, which went into liquidation, leading to the incomplete structure on the site today. The 44 residents of Ratilal Mansion have not been able to live in their homes since 2009 and have not received transit rent since 2013.Read more

PNT Reporter

03 Apr 2023

Mayor Anup Gupta has expressed his support for registering properties by shares. During a meeting with UT Adviser Dharam Pal, Gupta discussed concerns related to the buying and selling of shares in properties and obtaining permission for temporary roofs in the central courtyards. The CHCC is scheduled to convene next week to deliberate on the Supreme Court’s ruling against apartmentalisation and determine the next steps for implementing the order in its entirety.Read more

PNT Reporter

03 Apr 2023

The Haryana Real Estate Regulatory Authority (H-RERA) has been facing criticism from homebuyers over the slow pace of resolving their complaints. According to data shared by H-RERA, only 53% of the complaints submitted by homebuyers in the last five years have been resolved, while the rest are at various stages of review. This has led to a backlog of complaints and many homebuyers are now seeking justice through other authorities.Read more

PNT Reporter

31 Mar 2023

The Delhi Development Authority has issued a warning, alerting the public about fraudulent individuals who are using a fake URL related to their housing scheme to deceive people. The DDA has stated that it is taking this matter seriously and has filed complaints with the Economic Offences Wing and Cyber Crime cell of the Delhi Police. The DDA become aware that certain fraudulent individuals are using a fake URL (https://DDAflat.org.in/index.php) under the name of DDA’s Housing Scheme to deceive people into booking flats.Read more