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02 Apr 2025
Odisha Chief Minister Shri Mohan Charan Majhi has announced plans to amend the Odisha Government Land Settlement Rules, 2020, to enhance transparency in land allotment processes. This decision comes amid rapid development in Bhubaneswar and rising land prices, which have led to increased encroachments. The government is actively identifying and expediting the eviction of encroachments through the Central Enforcement Monitoring Committee, with a budget allocation of INR 10.88 crore for constructing boundary walls to safeguard government properties.
02 Apr 2025
The Bombay High Court has set aside the Thane district deputy registrar's decision rejecting deemed conveyance for four housing societies due to incomplete layout development. Justice Sandeep Marne ruled that pending development cannot be a reason to deny applications if an occupation certificate has been issued. The court highlighted procedural shortcomings, such as illegible sanctioned plans and discrepancies in area certificates, allowing petitioners and developers to submit fresh documents. The case has been remanded for reconsideration, ensuring fair evaluation under Maharashtra Ownership Flats Act provisions.
02 Apr 2025
The Maharashtra government has amended DCPR-2034 to allow the use of Transferable Development Rights (TDR) for redevelopment in Mumbai's airport funnel zone, which includes Santacruz, Vile Parle, and Kurla. Due to aviation height restrictions, developers in these areas struggled to fully utilize permissible FSI, making redevelopment unviable. The new rule permits TDR equal to the existing or basic carpet area-whichever is higher-offering developers flexibility to build within limits and transfer excess rights elsewhere. The change aims to modernize aging structures while ensuring aviation safety. Similar models have been used globally, such as Oslo's redevelopment of Fornebu Airport into a sustainable urban hub.Read more
02 Apr 2025
The Lucknow Development Authority (LDA) has approved freehold ownership for over 4,000 rented properties in colonies like Nirala Nagar and Rajendra Nagar, granting rights to original tenants or current occupants if heirs are absent. The move aims to resolve long-standing tenancy issues and boost property ownership. Nearly 1,500 properties in Transport Nagar will also be converted to freehold, with penalties for land-use violations. LDA also launched a discount scheme offering 3-6% off for lump sum payments made within 45-90 days. This initiative is expected to enhance legal clarity, attract investment, and strengthen Lucknow's real estate market by encouraging stable, long-term ownership and improving buyer confidence.Read more
02 Apr 2025
The Maharashtra government has issued a draft notice introducing specific regulations for 'iconic' buildings. These structures must be on independent plots and cannot be purely residential. Non-habitable architectural features may be exempt from floor space index calculations upon approval by a committee led by the municipal commissioner. Eligible developers must have completed at least one million square meters of built-up area or have a turnover of INR 5,000 crore over the preceding three years. Proposals from renowned architects may receive special consideration.
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02 Apr 2025
Vedanta Group has expressed interest in acquiring the bankrupt Jaiprakash Associates Ltd (JAL) through the insolvency process. Adani Group has also submitted an Expression of Interest (EOI) for JAL. JAL, involved in sectors like cement, power, and real estate, has outstanding loans totaling INR 55,493.43 crore as of February 20, 2025.
02 Apr 2025
The Economic Offences Wing (EOW) is investigating the Edelweiss Group based on a complaint by Ecstasy Realty Pvt Ltd (ERPL) alleging misappropriation of loan disbursement. Edelweiss asserts that the dispute is a civil financial matter, not a criminal offense, and indicates that ERPL owes INR 1,683 crore, including INR 480 crore in unpaid principal since April 2022. The company is considering legal options to challenge the First Information Report (FIR).
02 Apr 2025
Between March 17 and 26, the Nashik Municipal Corporation (NMC) received over 1,200 offline building plan proposals and approved around 200. This temporary shift to offline submissions was due to technical issues with the online approval system. NMC chief Manisha Khatri had previously mandated online submissions to streamline approvals and reduce delays. Developers' associations have requested the continuation of offline submissions, and Khatri plans to address their concerns in an upcoming workshop.
02 Apr 2025
The Municipal Corporation of Gurugram (MCG) has made significant progress in reducing pending property ID objections, lowering the count from 11,029 to 3,135 as of March 26. This is part of MCG's ongoing efforts to streamline property tax processes and improve transparency. The reduction aims to resolve disputes and ensure accurate tax records, with further actions planned to address the remaining objections. This initiative is expected to enhance the efficiency of property tax collection and promote better governance in Gurugram.
02 Apr 2025
The Odisha Real Estate Regulatory Authority (RERA) has appointed forensic audit firms to probe delays and irregularities in ongoing real estate projects. This move is part of RERA's commitment to improving transparency and accountability within the state's real estate sector. The forensic audits will focus on financial mismanagement, delays in project delivery, and non-compliance with regulatory guidelines. The initiative is aimed at safeguarding the interests of homebuyers and promoting stricter enforcement of regulations in Odisha's real estate market, enhancing confidence in the sector.
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