24 Oct 2024

The Haryana Department of Town and Country Planning (DTCP) is providing architects the opportunity to explain their issuance of occupation certificates (OCs) for four-storey buildings with stilt parking, which violated regulations. The director has suggested imposing fines of INR 2 lakh for each violation. Hearings will be conducted for 18 blacklisted architects, including Pankaj Kumar and Amit Bhardwaj, who allegedly assisted in these illegal constructions. Some architects have appealed for their registrations to be reinstated, arguing that the guidelines were unclear at the time. In light of these violations, the state government has introduced new compounding rules to prevent future issues.Read more

24 Oct 2024

The Vattiyoorkavu junction development project marks a key infrastructure upgrade to improve traffic flow and urban planning. A contractor for demolition works will be selected soon, with activities starting after the Onam delay. Valuation of buildings in the first phase is set at INR 21 lakh, pending further assessment. Land acquisition for the first two phases is complete, and compensation has been issued. The Kerala Road Fund Board (KRFB) will execute the 10.75 km four-lane road, while over 570 businesses will be affected, with rehabilitation efforts planned. The project aims to balance development and community needs for sustainable urban growth.Read more

24 Oct 2024

Bhaane Retail, a subsidiary of Shahi Exports, has acquired South Mumbai's iconic Rhythm House for INR 30 crore through an insolvency auction. Once a cultural landmark since the 1940s, the music store attracted Bollywood legends before closing in 2016. Previously owned by fugitive Nirav Modi, the property was seized by the Enforcement Directorate in connection with the Punjab National Bank scam. Spanning 16,000 square feet, the heritage building will now be revitalized by Bhaane, marking a key moment in preserving Mumbai's cultural legacy. The company aims to expand its retail presence, bringing new life to the iconic site.Read more

23 Oct 2024

The Maharashtra state government has allowed residential properties in the dissolved PCNTDA area within PMRDA to become freehold, benefiting over 11,000 property holders. Previously leased for 99 years, these properties, mostly for workers and weaker sections, faced difficulties in securing loans and redevelopment. By paying a fee, residents can now gain legal ownership. The decision fulfils a promise by Industries Minister Uday Samant and aims to resolve long-standing issues.Read more

23 Oct 2024

Bollywood actor Sara Ali Khan recently purchased two office spaces in Oshiwara, Mumbai, for over INR 22.26 crores, alongside her mother Amrita Singh. This investment follows her previous acquisition of an office in the same tower last year. Several other Bollywood celebrities, including Amitabh Bachchan and Shahrukh Khan, have also invested in properties there. The trend highlights the real estate market's appeal among high-net-worth individuals in the film industry.Read more

23 Oct 2024

Varanasi is set to welcome its second rail-road bridge connecting Pt. Deen Dayal Upadhyaya Junction with the city, marking a significant infrastructure upgrade. The INR 2,642 crore project, announced by the government, will feature four railway tracks and six road lanes, making it India's largest bridge by capacity. The bridge, expected to be completed in four years, will alleviate congestion on the heavily saturated Varanasi-DDU route and replace the aging Malviya Bridge. This new structure aims to boost connectivity for pilgrims and tourists, while also creating employment and business opportunities, driving socio-economic growth in the region.Read more

22 Oct 2024

The launch of the first phase of Mumbai Metro Line-3 marks a transformative milestone for the city's transport network, offering substantial connectivity improvements. Inaugurated by Prime Minister Narendra Modi, the INR 14,120 crore Aqua Line is Mumbai's first underground metro, linking Bandra Kurla Complex (BKC) to Aarey and covering key transit points like T2 and Santacruz. Real estate leaders highlight that Metro Line-3 will significantly boost accessibility, particularly benefitting South Mumbai and suburban areas, where infrastructure developments are poised to drive property demand and values. The metro's integration with other lines, such as Line 1 at Marol Naka, promises a more connected and accessible city. Complemented by projects like the Coastal Road and Santacruz-Chembur Link Road, Mumbai is set to emerge as a global urban hub by 2025, ready to meet the demands of its growing population and dynamic economy.Read more

22 Oct 2024

The construction of the Aerocity-Tughlakabad corridor of Metro Phase-IV in Delhi is set to expedite after Lieutenant Governor VK Saxena's approval to acquire land in Khanpur Village. The approved land acquisition and transfer will facilitate the development of an interchange station on the RK Ashram-Majlis Park and Indraprastha-Inder Lok corridors and the underground Nabi Karim Metro Station on Idgah Road. This critical infrastructure project is expected to significantly benefit commuters from densely populated areas of Southeast Delhi, easing access to the airport and other key locations while addressing persistent traffic congestion on the Mehrauli-Badarpur Road.Read more

22 Oct 2024

MahaRERA's Conciliation Forums have successfully resolved 1,749 grievances from homebuyers across Maharashtra, offering an efficient platform for dispute resolution between buyers and developers. Currently, 533 cases are under review at 52 forums statewide, with 32.36% of property purchasers benefiting from timely settlements. Initially available only in Mumbai and Pune, the forums are expanding to additional regions like Thane, Nashik, and Nagpur due to their rising popularity. The process involves experienced representatives from consumer bodies and developer organizations, with no MahaRERA officials participating. Grievances are resolved within 60 to 90 days if both parties agree. The initiative's success underscores MahaRERA's commitment to protecting homebuyers' rights and enhancing transparency in the real estate sector.Read more

21 Oct 2024

The Maharashtra government has approved two new metro rail routes in Pune, aimed at enhancing urban mobility. The Khadakwasla-Swargate-Hadapsar-Kharadi and Nalstop-Dahanukar Colony-Warje-Manikbaug lines will span 31.63 kilometres, featuring 28 stations, and will be constructed by Maha Metro at an estimated cost of INR 9,897 crore. Union minister Murlidhar Mohol emphasised the significance of these developments for Pune's transportation infrastructure, while local MP Supriya Sule celebrated the long-awaited approval for improved connectivity. The project is expected to alleviate traffic congestion and bolster economic growth in the region.Read more