PNT Reporter

01 Jun 2023

Ludhiana is implementing a smart QR code-based Unique Identity Number (UID) system to update the city's property mapping. With rapid growth and changes in the city, the previous mapping has become outdated. A private firm has begun the mapping process and will install UID plates in various blocks. The firm is utilizing survey teams and developing a mobile application to monitor the mapping and installation progress. The project aims to accurately map properties and assign UID numbers, with a target completion time of six months for approximately 5 lakh properties in the city.Read more

PNT Reporter

01 Jun 2023

India's leading cities are projected to complete a record 560,000 residential units in 2023, a 39% increase from the previous year. This boost is driven by strict RERA guidelines, improved cash flows, technological advancements in construction, and alternative investment funds. The National Capital Region is expected to lead with 30% of total deliveries, a 97% rise from 2022. Despite looming global economic uncertainties, the robust growth and resilience of the Indian real estate sector render this milestone achievable.Read more

01 Jun 2023

DLF's Rajiv Singh is the wealthiest Indian real estate entrepreneur, as per the GROHE-HURUN India Real Estate Rich List 2023, with a fortune of Rs 59,030 crore. The Lodha Group's Mangal Prabhat Lodha and family trail him with Rs 42,270 crore. The report highlights the wealth growth of 61% of featured individuals, with 25 debutants. Interestingly, the entry point to the top 10 soared from Rs 3,350 crore in 2017 to Rs 15,000 crore, reflecting the burgeoning wealth in the Indian real estate sector.Read more

PNT Reporter

31 May 2023

Maharashtra's property registration department is on the brink of adopting blockchain technology to secure online property registration. This initiative aims to prevent document duplication and allow safe data sharing with property buyers, government authorities, and financial institutions. The blockchain-based system will assign a unique identification number to each registered document, enhancing security and reliability. With blockchain's integration, Maharashtra paves the way for other regions to adopt this digital transformation in public services.Read more

PNT Reporter

31 May 2023

The Greater Chennai Corporation (GCC) has identified more than 1,300 sites with illicitly dumped construction debris. Small construction sites remain the biggest culprits, continuing to dispose of waste near water bodies, streets, and garbage bins. Despite levying hefty fines, collecting 12.4 lakh in April and 1 lakh in May, the problem persists. To combat the issue, GCC Commissioner, Dr. J Radhakrishnan, has ordered midnight inspections and confiscation of offenders' equipment and vehicles.Read more

PNT Reporter

31 May 2023

Telangana's thriving real estate market has encountered a slowdown, marked by a drop in property registrations over the past year. Industry insiders attribute this to escalating land prices, increased property expenses, and upcoming assembly elections. However, despite the dip in transactions, the state government's revenue from registrations saw an uptick due to a surge in land values. Although this presents a contrasting picture, officials are optimistic about a revival in the sector, buoyed by the completion of several large-scale projects. The sector's trajectory in the coming months will be pivotal.Read more

PNT Reporter

30 May 2023

In a bid to professionalise the real estate sector, the Maharashtra Real Estate Regulatory Authority (MahaRERA) conducted its inaugural certification examination, attended by 423 brokers. This mandatory certification aims to ensure all agents are well-versed with MahaRERA rules, promoting accountability and transparency. With a 92% turnout in the first round, the MahaRERA anticipates a similar response in the upcoming exams. This landmark examination marks the onset of a significant structural transformation, paving the way for an improved real estate market in Maharashtra.Read more

PNT Reporter

30 May 2023

Hyderabad's real estate sector is grappling with a mounting crisis of illegal constructions, revealed by a GHMC survey stating 7,000 to 8,000 unauthorized structures sprout annually. The city, still reeling from last month's demolition of 200 illegal homes in Bandlaguda's Crystal Township, faces the looming spectre of similar incidents. Homebuyers express shock and frustration, while experts advise due diligence. Amid an influx of 300 to 400 monthly complaints, GHMC's town planning department struggles with severe understaffing. This surge in illicit townships calls for a more rigorous regulatory framework and vigilant purchasing decisions by prospective homeowners.Read more

PNT Reporter

30 May 2023

The Noida Authority has identified 1,097 registries in 21 residential projects awaiting execution, stalled due to builders' inaction. The properties, scattered across nine sectors in Noida, are approved for registry, yet developers lag in delivering to homebuyers. The Authority warned of potential penalties if developers continue to delay. It encouraged buyers to directly contact builders, ensuring the execution of their home registries. Developers who fail to comply risk punitive action in line with land allotment rules and the Real Estate Regulatory Authority (RERA).Read more

PNT Reporter

30 May 2023

Despite a five-fold surge in rainwater harvesting installations over the past year, only 1,123 buildings in Nagpur have complied with the 14-year-old mandate. This equates to just 0.18% of all structures, according to the Nagpur Municipal Corporation (NMC). Critics attribute this sluggish progress to poor enforcement by the town planning department. Former Water Works Committee Chairman Vijay Zalke urges for a more earnest approach towards such critical ecological practices, emphasizing the significant potential of rainwater harvesting for groundwater replenishment.Read more