24 Aug 2023

A temple that was initially erected in the parking lot of Gaur City 2 society disappeared following objections from residents. Following discussions involving GNIDA officials, police, builders, and residents, a new location near the society park was identified and approved for the temple. GNIDA's formal approval will be obtained once NOCs are secured from the majority of flat owners, while ensuring that utility lines are unaffected. Builders in the area must adhere to approved layouts and obtain authority approval before making any modifications or introducing new structures.Read more

24 Aug 2023

Gurugram's Resident Welfare Associations (RWAs) are opposing the establishment of healthcare facilities within residential colonies, citing potential negative consequences. Concerns include increased traffic congestion, insufficient parking, and strains on utilities like water and electricity. RWAs recognize healthcare accessibility's importance but propose evaluating alternative locations with better infrastructure. Balancing convenience with the potential burdens on existing resources becomes crucial in addressing the residents' quality of life and maintaining the area's overall functionalityRead more

23 Aug 2023

The Delhi Development Authority is revolutionizing its housing schemes to attract more buyers. It's re-evaluating the one-unit bid rule, aiming to broaden appeal and sales. Traditional restrictions are giving way to innovative strategies, including public-private partnerships. The DDA has also enlisted real estate consultant Anarock to enhance its sales approach, focusing on pricing, amenities, and dynamic strategies. The upcoming 2023 housing scheme will see 23,000 flats phased for sale, with a spotlight on the Narela sub-city. Amid dynamic changes, the DDA aims to transform its housing offerings, elevate the buyer experience, and adapt to evolving market dynamics.Read more

23 Aug 2023

A recent study by Savills, a top real estate consultancy, revealed a significant 5-28% year-on-year increase in luxury housing rentals across Delhi, Noida, and Gurugram in the first half of 2023. The surge, attributed to a growing demand-supply gap and rising capital values, saw Delhi's Central 1 micro-market, including areas like Golf Links, leading with a 10% rise. Gurugram reported a 28% average hike, while Noida's premium sectors experienced around a 19% growth.Read more

23 Aug 2023

Maharashtra's State Housing Minister, Atul Save, announced the upcoming release of a revamped housing policy focused on affordable and sustainable living. This policy, set for a November launch, will integrate feedback from diverse stakeholders, such as architects and engineers. Building upon the previous 2015 policy, it will emphasize streamlined clearances for homebuyers and address contemporary challenges like special townships and slum redevelopment. The new framework also plans to incorporate recent state-specific regulations and align with the central 'Housing for All' initiative.Read more

23 Aug 2023

Bank of Baroda recently published an e-auction notice for the sale of actor Sunny Deol's 'Sunny Villa' bungalow in Mumbai due to outstanding loan dues amounting to around Rs 56 crores. Scheduled for September 25, the auction notice was withdrawn on August 20, reportedly due to technical reasons. The Sarfaesi Act empowers banks to recover non-performing asset (NPA) dues without court intervention. Deol has the option to settle the dues and stop the auction. The Act mandates a legal notice, followed by a 60-day period to repay the loan, failing which the property can be sold. Sunny Deol, an actor and MP, won the Gurdaspur constituency seat in the 2019 elections. Bank of Baroda's swift action raises questions about the handling of NPAs within legal bounds.Read more

22 Aug 2023

The Union Housing Ministry and the International Council for Local Environmental Initiatives, South Asia, conducted an energy consumption analysis in 15 cities, including Thane. Thane's high greenhouse gas emissions, driven by residential buildings and public transportation, lead to extreme weather events. Excessive energy usage, stemming from household appliances, was highlighted. Proposed solutions involve adopting rooftop solar panels, transitioning to electric buses and solar-powered vehicles, and optimizing construction practices. The report suggests rainwater harvesting, eco-friendly construction, and enforcing emission regulations. Curbing emissions can bolster Thane's resilience against natural disasters and create a safer urban environment.Read more

22 Aug 2023

The Kolkata Municipal Corporation's health department is struggling to clear garbage from 5,000 vacant plots in the city, mainly due to untraceable owners or their refusal to clean. To address this, they propose a special clean-up drive, adding the expenses to property owners' tax bills. If owners don't comply, the solid waste management department will conduct the drive and charge owners; particularly dengue-prone areas are targeted.Read more

22 Aug 2023

The Ghaziabad Development Authority (GDA) is combatting illegal constructions by notifying nine banks to verify property legality before granting loans. The move comes in response to unauthorized building in GDA zone 7. The goal is to prevent multi-storey constructions on single-storey plots and deviations from sanctioned layouts. While GDA can take actions like demolition, the challenge lies in banks granting loans without checking legality. GDA directs banks to verify layout plans and cease loans for illegal properties. However, some bank officials suggest that RBI's clear directives are essential for effective change. GDA's collaboration with banks aims to ensure lawful urban development and curb unauthorized constructions.Read more

22 Aug 2023

A total of 170 real estate projects across Mumbai and Pune regions are pushing for deregistration due to various challenges, including financial strains and changing market demands. Mumbai's suburban district sees 8 projects, Mumbai city 4, Thane 21, Raigad 29, Palghar 7, and Pune leads with 63. The Maharashtra Real Estate Regulatory Authority (MahaRERA) had previously highlighted criteria for deregistration, emphasizing the ongoing scrutiny process for such requests. Developers are looking at reshaping projects in response to shifting local demands, with some hinting at potential reintroductions post-resolutions.Read more