Over 55 lakh underprivileged individuals provided free housing in Uttar Pradesh
Author : PNT Bureau
At a recent event, UP Chief Minister Yogi Adityanath announced that over 55 lakh underprivileged individuals in Uttar Pradesh have received free housing under state and central government initiatives during his tenure. Speaking at the inauguration of development projects in Gorakhpur, Adityanath emphasized the success of housing schemes like Pradhan Mantri Awas Yojana and Mukhyamantri Awas Yojana, transforming the lives of millions by providing homes with essential amenities. The Chief Minister highlighted the broader development initiatives in the region and outlined plans for future projects, reaffirming the commitment to improving the quality of life for residents....
Emaar India faces legal action over land valuation dispute with former partner MGF
Author : PNT Bureau
UAE-based real estate firm Emaar Properties PJSC and its Indian subsidiary, Emaar India, along with 13 others, have been booked by the police following allegations of cheating from their former business partner, MGF, involving undervaluation of land and other offenses. The complaint suggests that Emaar manipulated valuation reports through an independent valuer, Jones Lang Laselle (JLL), leading to significant undervaluation of land in Gurugram sectors. Emaar India strongly denies any wrongdoing, labelling the accusations as another attempt by MGF to harass the company and its employees, emphasizing prior investigations that found no criminality in similar claims....
Gujarat State Consumer Disputes Redressal Commission directs Sambhav Infrastructure to deliver flats
Author : PNT Bureau
In a recent ruling, the Gujarat State Consumer Dispute Redressal Commission has instructed Sambhav Infrastructure Pvt Ltd and its directors, Mihir Desai and Toshal Desai, to deliver possession of flats to five customers who booked housing units in the Stavan Parishray scheme in Gota. The Commission has ordered compensation of Rs 3.80 lakh or a refund for these 5 customers. The directive also follows a case where the builder failed to fulfil its commitment made in 2012, leading to a legal intervention....
Gurugram residents receives HSVP notices demanding Rs 409 crore in 30 days
Author : PNT Bureau
Haryana Shahari Vikas Pradhikaran (HSVP) has served notices to 150 property owners in Sector 110A, demanding a "enhancement amount" of Rs 409 crore. Residents must pay between Rs 30 lakh to Rs 1 crore, based on plot size, within 30 days or face interest penalties. The notices follow a Punjab and Haryana High Court directive for enhanced compensation to landowners affected by the 2015 demolition of homes in New Palam Vihar for Dwarka Expressway construction. Allotted alternative plots in Sector 110A in 2017, affected families now grapple with the unexpected demand, prompting protests and appeals....
CHB's efforts to boost auction sales fall short despite price reductions
Author : PNT Bureau
The Chandigarh Housing Board (CHB) has been facing challenges in generating interest from potential buyers for its auctioned properties. Despite efforts, including significant price reductions, the response to both residential and commercial properties has been lacklustre. The most recent auction, held in November, saw only three out of 116 residential properties finding buyers, and none of the 88 commercial properties were taken. Previous auctions have also witnessed limited success, raising concerns about the effectiveness of CHB's auction strategies and the overall market conditions for property transactions in the region....
MHADA unveils strategic plan to clear 11,184 unsold flats
Author : PNT Bureau
The Maharashtra Housing and Area Development Authority (MHADA) has unveiled a comprehensive policy to sell 11,184 unsold flats across divisional circles. Directed by MHADA's Vice Chairman & CEO, Sanjeev Jaiswal, the move follows recommendations from a committee reviewing unsold inventory. The policy offers various avenues, including bulk discounts, instalment sales, leasing to institutions, and auctions. It aims to optimize the sales process, unlocking funds stagnant for a decade. This strategic decision is expected to rejuvenate MHADA's finances, facilitating new housing projects and addressing the persistent challenge of unsold flats in the market....
Respite for Mumbai's construction industry as Bombay High Court ends debris transport prohibition
Author : PNT Bureau
The Bombay High Court's ban on open carrying of construction debris, implemented to combat rising pollution, has lapsed, potentially bringing relief to 9,000 construction sites in Mumbai. Initially imposed on November 6 and extended until November 19, the ban aimed to curb pollution caused by the transportation of debris. The BMC is now likely to permit the uncovered transport of construction debris by trucks, addressing concerns raised by project proponents about the inconvenience caused by debris accumulation. The Union environment ministry had directed stringent measures against debris transport due to its significant contribution to air pollution in the Mumbai Metropolitan Region....
Environmentalists sound alarm on unchecked hillside development in India
Author : PNT Bureau
A recent RTI revelation exposed a critical gap in India's hillside development: the lack of a dedicated regulatory body. This oversight, brought to light by environmental activist B N Kumar, has sparked concerns among experts about the potential risks of uncontrolled development in these ecologically sensitive areas. Kumar's plea to the Ministry of Environment for regulatory measures follows recent disasters in hilly regions, emphasizing the need for a comprehensive framework to balance development with environmental integrity. The situation demands immediate action to establish a regulatory authority for sustainable hill development....
Legal wrangle continues for Lavasa as SBI is granted permission to challenge Dawrin's resolution plan
Author : PNT Bureau
The insolvency proceedings for Lavasa Corporation have taken a new turn as the National Company Law Appellate Tribunal (NCLAT) granted State Bank of India (SBI) permission to challenge the lower court's approval of the resolution plan submitted by Darwin Platform Infrastructure (DPIL). This marks the second objection by a bank to Lavasa Corporation's loan default resolution. SBI contends that DPIL did not adhere to the waterfall mechanism of the Insolvency and Bankruptcy Code (IBC). The case is scheduled for a hearing on January 10, 2024. Despite the ongoing legal developments, DPIL has not implemented its resolution plan, raising doubts about its intentions and the future of Lavasa Corporation....
DDA unveils Festival Special Housing Scheme 2023, 5,000 affordable flats up for grabs in Delhi
Author : PNT Bureau
The Delhi Development Authority (DDA) has initiated the registration process for 5,000 newly constructed Economically Weaker Section (EWS) and Low-Income Group (LIG) flats in Lok Nayak Puram, Narela, and Dwarka. This is part of the Festival Special Housing Scheme 2023, which includes a total of 27,000 EWS and LIG flats. The registration process is online, and applicants can visit the official DDA website to fill out the application form. The flats will be allocated on a first-come-first-serve basis, and applicants are encouraged to ensure they have all necessary documentation for a smooth application process. The scheme aims to address the demand for affordable housing in Delhi and cater to the housing needs of economically vulnerable sections of society....
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