The Ministry of Home Affairs (MHA) has imposed new restrictions on Chandigarh's Sector 39 vegetable and fruit market, preventing the administration from auctioning 92 shop-cum-office (SCO) sites on a freehold basis. Initially planned with a reserve price of INR 3.75 crore each, these plots will now only be available on a leasehold basis, which may deter potential buyers. The Chandigarh administration has struggled to attract interest in leasehold properties, raising concerns about the future of the market and the region's real estate prospects. This shift highlights broader challenges in urban planning and property rights enforcement in Chandigarh....
Goa approves conversion of 15 land parcels to settlement zones
Author : PNT Bureau
The Goa Town and Country Planning (TCP) Department has approved the conversion of 15 land parcels into settlement zones, affecting areas mainly in Ponda taluka, including Usgao, Bardez, and Old Goa. Previously classified as orchard or no-development zones, these changes were discussed in TCP meetings on July 10 and July 29. Utilising Section 39A of the Goa TCP Act, the department allows public objections within 30 days. Since February, 234 applications have been submitted for land conversion, reflecting heightened interest in development amid Goa's growth pressures. While aimed at boosting housing and investment, concerns about environmental impact persist....
Noida Authority crackdowns on developers non-compliance and construction delays
Author : PNT Bureau
The Noida Authority will impose strict penalties on property developers who have not adhered to the Uttar Pradesh government's rehabilitation package. Developers who failed to pay 25% of their recalculated dues face potential loss of lease deeds, allocated plots, and unsold inventory. Of 57 assessed projects, 27 paid the required advance, but 16 made no payments and 14 partial ones. The Authority is also targeting industrialists and businesses for construction delays and unauthorised land use. Measures to improve urban infrastructure and public health standards are also being implemented as part of a broader development strategy....
Haryana High Court suspends Gurgaon's four-floor policy amid infrastructure concerns
Author : PNT Bureau
The Punjab and Haryana High Court has postponed the next hearing on the stilt-plus-four (S+4) floors policy to September 3. The policy, which allows four-floor buildings on residential plots, was paused after concerns about its impact on Gurgaon's infrastructure. The Gurgaon Citizens Council (GCC) challenged the policy, leading to a court-ordered suspension until further review. Builders sought to join the case, but GCC opposed their involvement. They emphasised the need for an environmental impact assessment, citing strained city services like water and sewage. They argue that reimplementing the policy without infrastructure upgrades would further damage the city's urban fabric....
Kerala eases licence renewals for older commercial buildings
Author : PNT Bureau
Kerala's state government has announced the continuation of licence renewals for older commercial buildings, simplifying the regulatory process for businesses. This move aims to support property owners by easing compliance with modern laws, ensuring stability in the commercial real estate market. The initiative reflects Kerala's commitment to fostering a business-friendly environment, particularly benefiting small and family-run enterprises. By maintaining operations without excessive costs or bureaucratic hurdles, the state is balancing regulatory compliance with the practical needs of businesses, encouraging investment in older buildings while preserving the local heritage....
New DDA housing initiatives aim to address Delhi's housing needs
Author : PNT Bureau
The Delhi Development Authority (DDA) has launched three new housing schemes, attracting over 1,100 registrants on the first day. The Sasta Ghar Housing Scheme 2024 offers 34,000 flats for low-income groups at INR 11.5 lakh, while the Madhyam Vargiya Housing Scheme 2024 provides 5,400 flats for various income groups starting at INR 29 lakh. The Dwarka Housing Scheme 2024 will auction 173 premium flats in Dwarka. Existing registrants from earlier schemes can transition without re-registering. This move aims to address Delhi's housing shortages and boost affordable housing options for diverse income groups....
Thiruvananthapuram eases licencing rules for over 1,000 older buildings
Author : PNT Bureau
In Thiruvananthapuram, Local Self-Government Minister MB Rajesh has announced a policy change allowing the renewal of commercial licences for establishments in buildings constructed before current regulations. This decision follows challenges faced by business owners under the K-SMART system, which previously barred licences for non-compliant older buildings. The update aims to benefit numerous small businesses and includes plans to overhaul the K-SMART system for easier licensing. Rajesh also noted that 66% of 10,000 complaints have been resolved and emphasised simplifying 106 rules to improve governance and support economic growth....
Thane police investigates 13 people in connection with the MHADA redevelopment fraud
Author : PNT Bureau
Thirteen individuals are under investigation for their alleged involvement in a INR 200 crore fraud linked to the redevelopment of buildings on MHADA land. The Thane police reported that a firm fraudulently secured a INR 200 crore loan using a fake mortgage deed, which was not used for the intended redevelopment. Additionally, a housing society chairperson allegedly issued a No Objection Certificate without proper approvals. The ongoing investigation aims to uncover the full extent of these irregularities and highlights the need for increased transparency and regulation in housing redevelopment projects. The case may prompt broader reforms in Maharashtra's redevelopment sector....
Goa's Urban Development Minister orders full digitization of civic services
Author : PNT Bureau
The Goa's Urban Development Minister, Vishwajit Rane, directed all municipalities to digitize all the civic services within the next 15 days, emphasizing online accessibility for services, including tax collection. Rane instructed the chief officers to inspect their jurisdictions, utilize the unused funds, and identify beneficial projects. He also discussed regularizing the contractual municipal employees and introduced field logs for chief officers. Nearly complete GIS mapping for the North of Goa was announced, with plans for South Goa underway. Additionally, Rane mentioned potential amendments to the Goa Municipalities Act, which could require builders to fumigate construction sites, possibly through an ordinance....
CCI approves INR 4,630 crore Warburg Pincus-Shriram housing finance deal
Author : PNT Bureau
Mango Crest Investment Ltd, an affiliate of the US-based private equity firm Warburg Pincus, is involved in investment holding activities. The company manages and holds investments on behalf of Warburg Pincus, focusing on long-term value creation. Shriram Housing Finance Ltd, the other key player in this context, is a registered housing finance company under the National Housing Bank. It specialises in providing home loans and related financial services to individuals and businesses in India, contributing to the country's housing finance sector. This collaboration between these two entities marks a significant development in the housing finance industry and its current growth....
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