08 Sep 2023

Bombay Dyeing, a prominent Indian textile company, is reportedly in talks to sell around 18 acres of its mill land in the prestigious Pandurang Budhkar Marg area in Worli, Mumbai, to the Japanese conglomerate Sumitomo for an estimated sum of approximately Rs. 5,000 crore. This potential transaction follows a recent public notice, issued by the law firm Wadia Ghandy on behalf of an undisclosed client, expressing interest in exploring the legal rights, ownership, and interests associated with a large land parcel owned by Bombay Dyeing and Manufacturing Co Limited. If realized, this deal could mark a significant entry or expansion into Mumbai's real estate market by Sumitomo.Read more

07 Sep 2023

Mangal Prabhat Lodha, the guardian minister of Mumbai's suburbs, has unveiled an ambitious plan to transform Gilbert Hill in Andheri (West) into a tourist attraction comparable to Dubai's Burj Khalifa. This geological marvel, made of black basalt rock, has faced issues like landslides and slum encroachments. Lodha's plan involves making Gilbert Hill a prominent tourist destination, drawing inspiration from the iconic Burj Khalifa. The proposal includes an elevator for easier access to the hill's temple, among other enhancements. This transformation aims to boost Mumbai's tourism sector and provide a unique attraction for both locals and visitors.Read more

06 Sep 2023

Mindspace Business Parks REIT has launched a cutting-edge Bio-Sonification Zone at its Airoli West campus. Employees can now unwind to calming soundscapes generated from the rhythms of 15 diverse plant species. This innovation, a part of Mindspace's commitment to sustainable ecosystems, not only offers a unique relaxation method but has also shown to stabilize listeners' blood pressure levels. This meld of nature, technology, and well-being redefines workplace relaxation paradigms.Read more

06 Sep 2023

The revenue department in Delhi has initiated a pilot project for digital property registration and lease agreements. The National Generic Document Registration System (NGDRS) allows users to complete initial registration steps online, reducing the need for in-person visits. The system is currently operational at two sub-registrar offices and will expand to 20 more across the city. Help desks and tutorial videos are available to assist applicants, and public feedback will be collected to improve the system. Additionally, efforts are underway to digitize old documents and integrate data on prohibited properties for verification. The NGDRS aims to enhance efficiency, transparency, and citizen convenience in property-related procedures.Read more

06 Sep 2023

In a bid to counter monsoon waterlogging, Trichy's Corporation Council proposes filling vacant sites and low-lying areas with construction debris. Mayor Mu Anbalagan called on councillors to identify such plots in their wards, with a focus on eco-friendly waste material utilisation. Initiatives also include accelerated desilting of major drains and timely road work completion under the Tamil Nadu Urban Road Infrastructure Fund (TURIF) before monsoon onset. The Council's integrated approach aims for a safer rainy season for residents.Read more

06 Sep 2023

A SIT in Dehradun has exposed a complex 'white-collar syndicate' involving lawyers, government officials, and property dealers engaged in fraudulent property registrations. The estimated value of the properties involved in this fake registry scandal stands at Rs 400 crore, with the potential for even more extensive ramifications. The scam, which surfaced after a surprise visit by the Chief Minister to the registrar's office, revealed multiple forgeries in documents. The SIT is diligently investigating and has made several arrests, intending to prosecute the accused under the Gangster Act due to their organized operations. They are also examining links to past thefts of crucial land records.Read more

06 Sep 2023

The Maharashtra Real Estate Regulatory Authority (MahaRERA) is set to introduce a pioneering grading system for real estate projects in India. Developers will receive grades based on technical, legal, financial, and general project features, offering buyers a transparent way to compare projects and make informed investments. This initiative, mandated by the Bombay High Court, aims to minimize buyer risk and enhance accountability. MahaRERA has been proactive in implementing the RERA Act 2016, including launching a counseling center, using QR codes for transparency, certifying real estate agents, and more. This innovative grading system underscores MahaRERA's commitment to enhancing the real estate sector's transparency and accountability.Read more

05 Sep 2023

The Forum For People's Collective Efforts (FPCE) has raised concerns and put forth recommendations regarding concessions to real estate developers and the revival of stalled housing projects. In a letter addressed to Union Housing and Urban Affairs Minister Hardeep Singh Puri, FPCE President Abhay Upadhyay expressed worries about certain suggestions made by the committee, which proposed changes in insolvency laws and a scheme offering subsidized interest rates to revive stalled housing units. FPCE emphasized the need for safeguards to prevent misuse of concessions, individualized project extensions, blacklisting of builders with prolonged delays, and a RERA Monitoring Committee to ensure regulatory compliance.Read more

05 Sep 2023

Three sites in the M East ward have been approved by the Brihanmumbai Municipal Corporation (BMC) for new cemeteries, while three more have been set aside for prospective revisions to reservations in the development plan (DP). This choice comes after a Bombay High Court hearing that was brought on by a PIL that residents of Govandi filed asking for more burial space. The proposed cemeteries consist of an addition to the Rafi Nagar cemetery in Govandi, a new plot in Anik Village at Vashi Naka, and the Deonar cemetery. The BMC is putting the finishing touches on the procedures for acquiring these lands, and it intends to give landowners Transfer of Development Rights (TDR) and FSI benefits in exchange for their plots.Read more

05 Sep 2023

The collapse of buildings in the Mumbai Metropolitan Region is a growing concern, leading to tragic loss of lives and injuries. Many of these incidents have been attributed to structural weaknesses, water seepage, and buildings being declared unsafe by authorities. Despite warnings and evacuation notices, some residents continue to live in such risky conditions. The local authorities, including the Brihanmumbai Municipal Corporation (BMC), have been actively trying to address this issue, issuing lists of unsafe buildings and urging residents to relocate. However, more coordinated efforts and collaboration between authorities and residents are needed to find sustainable solutions and provide alternative accommodations, especially as the city faces the challenges of the monsoon season.Read more