DTCP orders 15-day compliance at Ireo Victory Valley after EWS residents' access denied
Author : PNT Bureau
The DTCP has issued a 15-day compliance notice to the Residents' Welfare Association (RWA) of Ireo Victory Valley in Sector 67 after EWS flat owners reported being denied access to their homes and common amenities. This issue, highlighted in a grievance hearing led by Deputy Commissioner Nishant Yadav, raises concerns about discrimination against EWS residents. The RWA faces legal consequences if it fails to restore access and services. However, RWA members claim layout issues complicate access. The case underscores ongoing challenges in ensuring equitable treatment for EWS residents in Gurugram and similar communities across India....
ED to return 78 flats worth INR 20 crore to fraud victims
Author : PNT Bureau
The Enforcement Directorate (ED) is set to return 78 flats valued over INR 20 crore to victims of fraud by the SRS Group in Gurugram. This decision follows an Appellate Tribunal order and involves properties from projects like SRS Pearl and SRS City. Previously, the ED had attached assets worth INR 2,215 crore from SRS Group in a money laundering probe. After extensive legal and verification processes, including directives from the Punjab and Haryana High Court and the Supreme Court, legitimate homebuyers will now receive their due properties. This action underscores ongoing challenges in real estate and regulatory efforts to address them....
MHADA's commitment to transparency highlighted in fifth Lokshahi Day event
Author : PNT Bureau
Maharashtra Housing and Area Development Authority (MHADA) hosted its fifth Lokshahi Day, led by Vice President and CEO Sanjeev Jaiswal, to address public housing concerns. During the event, nine citizen applications were reviewed, primarily involving issues in Mumbai and Pune. Notable cases included Surekha Kale's appeal for a waiver of a INR 7.5 lakh late fee and Hiren Mehta's concerns about maintenance fees. Jaiswal emphasised the need for faster resolutions and better transparency, requesting a report on actions within 15 days. Lokshahi Day aims to improve public engagement and housing policy responsiveness....
Puducherry Government increases housing support and launches new initiatives for journalists
Author : PNT Bureau
Puducherry Chief Minister N. Rangasamy announced enhanced financial support for housing and journalists. The Kamaraj Housing Scheme's subsidy has been raised to INR 5 lakh, matched by a central government contribution, totaling INR 10 lakh per household. This initiative aims to replace temporary shelters with permanent homes. Additionally, monthly assistance for retired journalists will rise from INR 10,000 to INR 15,000, and free laptops will be provided to active reporters. Plans to distribute house sites to journalists and process new pension applications reflect the government's commitment to improving welfare and living conditions in the region....
Punjab cabinet overhauls property registration, fire safety, and tax policies
Author : PNT Bureau
Punjab's cabinet has approved significant reforms to simplify property registration by removing the no-objection certificate (NOC) requirement under specific conditions, addressing delays and fraudulent practices. The new regulations allow land deals verified through bank transactions before July 31 to bypass the NOC process. Additionally, the Punjab Fire Safety and Emergency Services Bill, 2024 updates fire safety regulations, requiring certificates every three years and introducing fire insurance. The cabinet also reduced motor vehicle taxes for tourist vehicles and imposed additional road tax on luxury cars, aiming to boost tourism and address pollution. A new tree preservation policy aims to increase the state's tree cover to 7.5% by 2030, supported by a INR 792.88 crore agroforestry project. These measures reflect Punjab's commitment to improving property transactions, safety, and e...
Government revamps PMAY with new income limits and affordable rental housing provisions
Author : PNT Bureau
The Indian government has updated the Pradhan Mantri Awas Yojana (PMAY) to support urban families with incomes up to INR 9 lakh, offering interest subsidies on home loans for properties up to 120 square meters. The previous income threshold was INR 18 lakh, and the cap on loan amounts was higher. The new interest subsidy limit is INR 1.8 lakh. Additionally, affordable rental housing provisions are introduced, offering up to INR 1.5 lakh for constructing small rental units. New web-based platforms and transparent rental regulations aim to enhance accessibility and affordability for urban dwellers....
Mumbai Wakf Board reviews ownership of Bhendi Bazaar plot sold to SBUT
Author : PNT Bureau
The Maharashtra State Board of Wakf is investigating whether a plot in Bhendi Bazaar, Mumbai, sold to the Saifee Burhani Upliftment Trust (SBUT) is legally Wakf property. This follows a Supreme Court order from May 17, requiring the Board to determine the plot's status within 12 weeks. The property, over 150 years old and originally owned by the Haji Ismail Haji Habib Musafirkhana Trust, was sold to SBUT in 2016 for redevelopment. While SBUT argues the plot is not Wakf land, tenants and interveners claim it is, citing a functioning mosque on-site. The Supreme Court's directive to maintain "status quo" has halted redevelopment work. The investigation, ongoing since July 24, 2024, aims to resolve this dispute and determine the plot's future amid SBUT's broader redevelopment efforts in Bhendi Bazaar....
PM-UDAY scheme in Delhi meets with limited success as beneficiaries struggle to comply
Author : PNT Bureau
The PM-UDAY scheme, launched in 2019 to grant property rights to residents of Delhi's unauthorised colonies, has seen limited success. Despite 122,729 applications, only 23,811 ownership rights have been granted. Challenges include bureaucratic hurdles, financial barriers, and difficulties obtaining required documents like the power of attorney. Many residents, particularly in areas like Najafgarh and Nangloi, struggle to meet these demands. While the Delhi Development Authority (DDA) is making efforts to assist residents through camps and a bilingual online portal, the scheme's future remains uncertain as residents continue to face obstacles in securing basic services and ownership rights....
Goa withdraws TCP Amendment Bill amid cabinet opposition and environmental concerns
Author : PNT Bureau
The Goa government has retracted the Goa Town and Country Planning (Amendment and Validation) Bill, 2024, following significant opposition from cabinet members. The bill aimed to protect the Town and Country Planning department from judicial scrutiny over land conversions, sparking concerns about potential environmental harm. The decision to withdraw, announced by TCP Minister Vishwajit Rane, reflects growing tensions between development and environmental protection in Goa. This move, along with the withdrawal of three other bills, signals the government's need to reassess its approach to land use and environmental sustainability....
NARCL targets INR 2 lakh crore in NPAs by FY26 to clean up bank balance sheets
Author : PNT Bureau
The National Asset Reconstruction Company Limited (NARCL), supported by the Indian government, aims to acquire INR 2 lakh crore worth of stressed or non-performing assets (NPAs) from banks by FY 2026. As of July 2024, NARCL has taken over 18 accounts totaling INR 62,000 crore and approved resolution plans for two accounts valued at nearly INR 33,000 crore. NARCL utilizes the Swiss Challenge method for asset management and sale, allowing competition among bidders and the original bidder the right to match the best offer. Although the concept of a 'bad bank' was introduced in the 2021-22 Union Budget, its implementation faced delays. Nonetheless, NARCL's progress, including the successful application of this method to accounts worth INR 5,910 crore, is expected to help banks reduce NPAs, improve their balance sheets, and strengthen the financial system....
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