Infrastructure

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Maharashtra Govt and Berkshire Hathaway Home Services sign MOU

Author : PNT Bureau

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....

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Prayagraj to experience real estate development boom in the coming years

Author : PNT Bureau

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....

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50 acres of land in Aravalis to be cleared of illegal structures

Author : PNT Bureau

In line with directions issued by the National Green Tribunal (NGT) on 9th December 2022, all illegal structures constructed on protected Aravali Forest land in Gairatpur Bas, Haryana will be cleared this week. The NGT has directed the Haryana and Rajasthan governments to destroy all illegal structures that have been erected on land protected under Sections 4 and 5 of the Punjab Land Protection Act (PLPA), 1900. All requisite notices have been issued and ample warning has been given to those who have constructed these structures....

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Premium for development near the International Airport in Mumbai waived

Author : PNT Bureau

The Maharashtra state urban development department has decided not to charge Mumbai International Airport Ltd (MIAL) a premium for its development activities in Chhatrapati Shivaji Maharaj International Airport Notified Area. It has also allowed a floor space index of (FSI) of 5 on plots within the area. MIAL is being charged a premium on the extra 1 Floor space index, as the FSI 4 is considered as Global FSI, on which no premium is charged. The development of the CSMIANA is to be integrated with the existing Bombay Metro infrastructure. The notified site area is about 1982 acres....

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CIDCO cancels sale of contested Nerul CRZ plot

Author : PNT Bureau

The City and Industrial Development Corporation (CIDCO), the governing body responsible for most of Navi Mumbai’s planned development, has cancelled the tender process of the contested CRZ plot at Seawoods, Nerul. Several citizens along with the Navi Mumbai Environment Preservation Society (NMEPS) had filled petitions with the National Green Tribunal (NGT) to stop the tender process as the plot of land in question fell within the CRZ limits where construction activity is restricted. The petitioners are pleased with the decision of the NGT to block the sale process and hope to stop CIDCO from commercially exploiting the CRZ plot. The civic body however cites that the tender process was cancelled simply because the bidding offer received for plot was well below market value....

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Madurai Corporation to set up a construction waste processing centre

Author : PNT Bureau

The Madurai Corporation is in talks to set up a processing centre in Chennai to tackle the issue of construction and demolition waste and. At present the corporation has four designated dumping sites for waste in the city. However, debris is often found along city roadways and in empty plots. This has led to residents questioning the efficacy of the civic body and demanding that appropriate action be taken swiftly. A tender to create a construction and demolition waste processing centre in Madurai is likely to be issued in the coming two months....

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Supreme Universal inks pact to develop 5-acre land parcel in Chembur

Author : PNT Bureau

Realty developer, Supreme Universal has acquired the development rights for a parcel of land in Chembur suburb of Mumbai City. Supreme Universal is said to have paid stamp duty of Rs 15.57 crores on the current market value of Rs 311 crore. The company plans to develop a premium gated community on the parcel of land which is estimated to have a development potential of nearly 1 million square feet. The project is expected to generate at least Rs 1800 crore in revenue based on the current trend of property rates in the vicinity....

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More than 5000 housing plots returned to Andhra Pradesh Government

Author : PNT Bureau

In line with the larger goal of providing ‘housing for all’ the Andhra Pradesh state government undertook the task of setting up Jagananna colonies across the state. Under the YSR Jagananna housing scheme, the government plans to construct nearly 18000 colonies to provide housing for 30.3 lakh beneficiaries from low-income groups. However, more than 5000 plots allotted have been returned with the request for an alternate. The allottees returning their plots claim that plots allotted to them were either located too close to burial grounds or were too far from their present habitations. The Chief Minister of the state, YS Jagan Mohan Reddy has directed officials to provide alternate sites to the affected beneficiaries....

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Noida Authority launch a low-cost housing

Author : PNT Bureau

Earlier this month, the Noida Authority launched a housing scheme for individuals eligible for Low Income Group (LIG), Mid Income Group (MIG) and High-Income Group (HIG) housing. The flats will be made available in Sectors 52, 62, 71, 99, 118, and 135. Interested individuals can submit their application latest by 31st January 2023. The cost of these residential apartments ranges from Rs 45 lacs to Rs 1.79 crores. In another decision, the Noida Authority vowed to resolve the property parcel assignment issue that has been pending for 12 years. These individuals have been given time until March 2023 to procure the requisite approvals and begin construction....

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VMRDA to receive 500acres of land from state government as compensation

Author : PNT Bureau

In exchange for expenses incurred while developing one-cent layouts, the Visakhapatnam Metropolitan Region Development Authority (VMRDA) has requested the state government to give them 500acres of land in the region rather than a 15% stake in the 'Jagananna housing complexes’ as earlier decided. The civic body has already incurred as expense of Rs 150 crores in development and intends to invest a further Rs 50 crore to build infrastructure. Therefore, it believes pooled land parcels would be a more equitable exchange for their services rendered and will help in maintaining their financial health....