19 Sep 2023

The Maharashtra Real Estate Regulatory Authority (MahaRERA) is taking a significant step to enhance housing project quality in the state. They are set to introduce comprehensive quality guidelines for realty projects, with a strong focus on safeguarding homebuyers' interests. With 1.6 crore citizens waiting for homes and 14 lakh homes under construction in Maharashtra, these guidelines aim to ensure timely construction and uncompromising quality. Additionally, MahaRERA plans to introduce an Act dedicated to monitoring construction quality and resolving disputes. In parallel, the RealTech Fund (RTF), with an initial corpus of Rs 50 crore, seeks to drive technological innovations in the real estate sector. These initiatives align with the goal of providing high-quality, accessible housing for all residents.Read more

19 Sep 2023

A fire occurred in a 12-story SRA building in Kurla, Mumbai, housing residents who were relocated from the Tansa pipeline area in 2017. This marks the third fire incident in a year, with a previous one causing a fatality. The recent fire was attributed to a faulty electric circuit, worsened by a malfunctioning fire system. Residents had previously warned the fire brigade about the circuit's condition. Now, they face a lack of electricity for over two months and financial challenges for repairs. This unfortunate situation highlights the residents' precarious living conditions and the urgent need for safety measures and support.Read more

19 Sep 2023

Environmental activists in Pune have voiced concerns over the dumping of construction debris along a 3.7km stretch of the Mula-Mutha river, earmarked for the Pune Municipal Corporation's (PMC) riverfront development project. The debris accumulation on the river's left bank has resulted in uprooted trees, loosened roots, and the demise of plants and shrubs. Activists argue that PMC is disregarding their objections and pre-emptively planning to cut trees without proper permissions. They highlight that this practice threatens the environment and the river's water quality. PMC claims it hasn't violated any orders and will address the issue once complaints are received.Read more

19 Sep 2023

The Odisha government anticipates a massive Rs. 10,000 crore investment over the next 5-10 years in the 300-acre stainless park being developed by Jindal Stainless. The industrial park, strategically located for easy access to highways and the Paradip port, aims to create jobs for approximately 10,000 people, with 75-80 MSMEs planning to establish factories. The project seeks to convert a substantial portion of the 20 lakh tonnes of stainless steel manufactured in the state into value-added products. Jindal Stainless is awaiting final approvals for infrastructure before approaching MSMEs.Read more

19 Sep 2023

Speaker Gian Chand Gupta of the Haryana Assembly issued a stern warning to Panchkula's administration and police officials regarding the issue of illegal encroachments in the city. During a meeting with local authorities, he emphasized the urgent need for decisive action to address this problem. Panchkula's Deputy Commissioner pledged to launch a special anti-encroachment drive with visible results expected within one month. An administrative committee was formed to tackle encroachments, including representatives from various departments. The Speaker also stressed the importance of providing designated vending zones for small-scale workers while addressing the issue of illegal slums in the city.Read more

18 Sep 2023

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has reported that only 7% of registered real estate agents have obtained certification by the September 1 deadline. Out of nearly 45,000 registered agents, only 3,217 have successfully completed the certification process. The low turnout has raised questions about the necessity and value of the certification, with many experienced agents finding it redundant, given the transparency of project details on the MahaRERA website. The authority may need to reconsider the deadline and address concerns within the real estate community to ensure a smoother transition for all stakeholders.Read more

18 Sep 2023

GE Healthcare is expanding its manufacturing operations in India through a strategic joint venture with Wipro under the name "GE Wipro." This venture, operating within the government's Production Linked Incentive (PLI) scheme, will produce critical medical equipment, addressing local and global health challenges. GE Healthcare aims to manufacture 80% of the medical devices locally, aligning with the "Make In India" initiative and fostering self-reliance while creating employment opportunities. This collaboration combines GE Healthcare's expertise in healthcare technology with Wipro's technological prowess, promising to improve patient well-being and enhance India's position in the global healthcare arena. The PLI scheme has approved significant investments in this sector, revolutionizing healthcare in India and beyond.Read more

18 Sep 2023

ICRA forecasts a decline in Hyderabad's Grade A office occupancy by approximately 500 basis points to 81.0%-81.5% by March 2024, down from 86.0% in March 2023. This expected drop is attributed to a record supply addition of about 21.5 million square feet for FY2024. Despite this, ICRA remains optimistic about India's overall commercial office sector, citing the country's appeal as a hub for global capability centres and its attractive blend of skilled talent and competitive rental rates.Read more

18 Sep 2023

GLADA (Greater Ludhiana Area Development Authority) has launched a crackdown on illegal colonies, demolishing infrastructure in five unauthorized settlements. The targeted action took place in Bholapur, Tajpur, Bhamian Kalan, and Kulianwal villages. Developers who disregarded notices faced the demolition drive, carried out with the cooperation of police, PSPCL officials, and the revenue department. GLADA warned against purchasing property in unauthorized colonies, emphasizing their lack of government-sanctioned amenities. They have also recommended against plot registration and electricity connections in such areas. This initiative aims to curb the growth of illegal colonies and protect prospective buyers from fraudulent schemes.Read more

18 Sep 2023

Andhra Pradesh has achieved a historic feat by becoming the first Indian state to complete land survey operations in 4,000 villages through the 'YSR Jagananna Saswata Bhu Hakku, Bhu Raksha Scheme.' This initiative ensures digital land records with precise coordinates, tamper-proof documents, and the use of advanced technologies like drones and CORS networks. Over 95% of the targeted villages have already been covered, resolving border disputes and setting up boundary stones. Remote participation options for landowners are also available. This scheme marks a significant step towards modernizing land records and protecting landowners' rights in the state.Read more