11 Sep 2023

The Bombay High Court has approved the demolition of a 150-year-old structure on Malvani church land in Malad, Mumbai, to widen a congested road. However, the court has raised concerns regarding compensation and the relocation of the structure. The court noted that the structure, known as Parochial House, was not of significant heritage value, according to the Mumbai Heritage Conservation Committee. The church is willing to cooperate with the removal but seeks compensation and permission to relocate the house on the property. The judges have called for clarity on the actual area, compensation, and potential relocation.Read more

11 Sep 2023

Avenue Supermarts continues its real estate expansion with the purchase of 50,000 sq ft of commercial space in Mumbai's Kandivali suburb for over Rs 88.74 crore, aiming to establish a hypermarket store. The company recently opened a new store in Morbi, Gujarat, reaching a total of 333 supermarket outlets. During the 2022-23 fiscal year, it added 1.9 million sq ft of retail space and achieved impressive sales per sq ft of Rs. 31,000. Additionally, Reliance Retail is opening Metro Cash & Carry stores to all customers after acquiring a 100% stake in the company. These developments underscore the resilience and adaptability of India's business landscape and signal a positive outlook for the future of the retail and real estate sectors in the country.Read more

09 Sep 2023

Queensland-based Voltin, a leader in building defect detection technology, has entered into a strategic partnership with International Real Estate Partners (IREP), a global real estate management organization. This collaboration extends Voltin's reach to more than 80 international markets, including India, while giving IREP early access to Voltin's cutting-edge technology. Voltin specializes in visual data capture and AI-driven photogrammetry modelling software for precise building defect identification. Their system offers an automated and efficient approach to building façade defect detection, capable of identifying over 50 types of defects on various surfaces. This partnership is set to transform real estate inspection technology globally.Read more

09 Sep 2023

In response to rising competition and vast unoccupied spaces in its IT parks, Kerala's government is enlisting international property consultants (IPCs). Aimed at matching the marketing strategies of private developers, the move seeks to promote 20 million sq ft of ready space across three main IT hubs, with an additional 10 million sq ft underway. The strategy mirrors private sector successes in drawing multinational tech giants through IPCs, ensuring Kerala remains a competitive global IT hotspot.Read more

09 Sep 2023

Despite the impending winter air quality crisis in Delhi-NCR, only 220 out of 3,000 construction sites in Gurugram have registered on the dust portal. Launched by the Haryana government in response to air quality concerns, the portal monitors pollution levels at construction sites and enforces compliance with emission reduction rules. Haryana State Pollution Control Board officials have vowed to take strict action against non-compliant sites. However, construction agencies cite the high costs involved in compliance, particularly for smaller projects. This highlights the need for a more concerted effort to combat air pollution in the region.Read more

09 Sep 2023

Residents of Aayakar Nagar in Sanganer, Jaipur, are facing difficulties due to heaps of road construction materials blocking the roads in their colonies. Approximately 150 to 160 families are affected as the construction materials cover the breadth of several roads and block entrances to buildings. Local authorities are unsure about the source of these materials, and residents are left inconvenienced and puzzled by their sudden appearance in the area. The situation has prompted residents to resort to walking as vehicles cannot navigate through the blocked roads.Read more

08 Sep 2023

The Kolkata Metro Rail Corporation (KMRC) has pledged to construct new homes for the residents displaced by the land subsidence incident in Bowbazar, Kolkata. The incident, which occurred during tunnelling work for the East West Metro, resulted in the collapse of multiple houses and left many residents homeless. KMRC's General Manager of Administration, A.K. Nandy, assured that construction of new structures would begin by April 2024 and estimated completion by December 2025. However, some residents remain skeptical, and the incident highlights the challenges and impact of urban infrastructure projects on local communities.Read more

08 Sep 2023

The Hubballi-Dharwad Municipal Corporation (HDMC) is taking a proactive approach to enhance revenue collection by establishing a dedicated task force and implementing a Geographic Information System (GIS) survey. This initiative aims to identify untaxed properties and bridge the gap between actual revenue and the projected budget. The decision was made during a recent general body meeting, where concerns were raised about the municipality's revenue generation efforts. The formation of a specialized task force, the auctioning of leased properties, and the use of private agencies for the GIS survey are among the strategies to bolster revenue. The HDMC is committed to optimizing resource mobilization.Read more

08 Sep 2023

Hyderabad's rental market has experienced a significant increase in rent prices in the first half of 2023, driven by a growing demand for residences near workplaces as businesses return to regular operations. Employees are seeking housing options close to their offices, particularly around tech parks and commercial areas. This shift has created a competitive housing market with a supply-demand imbalance, prompting landlords to raise rents by over 20%. About two-thirds of tenants in Hyderabad have expanded their rental budgets to adapt to the changing real estate landscape, with many desiring more spacious living arrangements. Additionally, the demand for standalone buildings has increased due to the shortage of gated communities.Read more

08 Sep 2023

Amidst unprecedented environmental challenges during this year's monsoon season, Himachal Pradesh has imposed a two-week ban on hill cutting and halted fresh construction permits, except for disaster-related rebuilding. The decision, in effect until September 16, comes as the state grapples with catastrophic landslides, erosion, and significant loss of life and property. The government's priority is safeguarding human lives, infrastructure, and the fragile ecological balance. With over 250 lives lost and massive economic losses, this move underscores Himachal Pradesh's commitment to environmental preservation and safety in the face of ongoing environmental crises.Read more