27 Feb 2025

The Chandigarh Housing Board (CHB) has launched a demand survey for its self-financing housing scheme in Sector 53, accepting applications exclusively on its website until March 3. The scheme includes 372 flats across three categories. Applicants must submit a deposit, which CHB will adjust in the earnest money deposit upon launch. The project, delayed since 2018 due to high costs and low demand, has undergone revisions to improve affordability. Officials recently presented the proposal to the Chief Secretary. CHB will proceed only if it receives sufficient interest and necessary approvals, aiming to offer long-awaited housing opportunities in Sector 53.Read more

27 Feb 2025

A Punjab Vidhan Sabha committee has recommended increasing financial aid under Pradhan Mantri Gramin Awas Yojana (PMAY-G), saying INR 1.20 lakh is insufficient to build good homes due to rising construction costs. The report highlighted that another central scheme offers INR 2 lakh for the same purpose. It urged the Punjab government to request the Centre for a higher amount. The committee also recommended involving MLAs in the selection of beneficiaries and expanding the scheme to cover more villages across the state. These measures aim to improve rural housing support and ensure eligible families receive adequate assistance for better homes.Read more

27 Feb 2025

The Karnataka government has approved increasing the residential building height limit in Kalaburagi from 11.5m to 15m, addressing rising population density and land scarcity. KUDA's proposal, submitted in March 2024, was finalized on February 18, 2025. A new 500-acre township is also planned to decongest city areas. Kalaburagi's growth, driven by improved connectivity via its airport, has attracted investment. Additionally, CM Siddaramaiah announced INR 1,685 crore for smart city development, INR 200 crore for infrastructure, and INR 1,000 crore under the "Kalyana Patha" scheme for rural roads, positioning the city for significant urban transformation.Read more

27 Feb 2025

The Vasai-Virar City Municipal Corporation (VVCMC) demolished 41 illegal buildings in Vasai East's Agarwal Nagari over 22 days, displacing around 2,000 residents. The structures were built on land reserved for public utilities like water and sewage treatment plants. While activists criticize selective enforcement, the Bombay High Court has asked the state and VVCMC to present a rehabilitation plan. The civic body defends the demolitions as essential for urban planning. This case highlights the conflict between regulatory enforcement and residents' rights, raising concerns over the consistency and transparency of actions against unauthorized constructions.Read more

27 Feb 2025

Maharashtra's Deputy Chief Minister, Devendra Fadnavis, has declared an 8.5% interest waiver on the premium applicable to self-redevelopment projects. This will be valid for projects submitted until March 2026. The government has permitted the premium to be paid in installments. But the Brihanmumbai Municipal Corporation (BMC) levies an 8.5% interest on these payments. The waiver aims to facilitate housing societies undertaking self-redevelopment by reducing financial burdens. Currently, societies opting for self-redevelopment on government-leased land must pay a premium equivalent to five percent of the ready reckoner value, with an option to make payments over three years. The initiative is expected to encourage self-redevelopment across Mumbai and other regions in the state.Read more

26 Feb 2025

The real estate and construction industries are becoming increasing targets for ransomware attacks, with cybercriminals exploiting digital transactions and sensitive data. A recent report at the 'SHIELD-2025' conference organized by the Telangana Cyber Security Bureau highlighted that 7% of cyber attacks are aimed at these sectors, closely following manufacturing and IT. As more real estate transactions move online, personal information, property records, and banking details are vulnerable to phishing, fraud, and unauthorized withdrawals. Experts recommend decentralized data storage, strong cybersecurity measures, and industry collaboration to protect against these threats. As the threat grows, safeguarding sensitive information is crucial for maintaining consumer trust.Read more

26 Feb 2025

The Supreme Court has put a hold on the National Company Law Appellate Tribunal's (NCLAT) directive appointing the state-owned NBCC as the project management consultant to complete 16 stalled housing projects of Supertech Ltd, valued at approximately INR 9,500 crore. This decision impacts over 42,000 homebuyers who have been awaiting possession of their homes for years. The court intends to examine whether the NCLAT adhered to the Insolvency and Bankruptcy Code (IBC) while appointing NBCC. All stakeholders, including corporate guarantors, Supertech promoter RK Arora, and the Yamuna Expressway Industrial Development Authority (YEIDA), have been directed to submit alternative proposals by late March. The stay returns management control of Supertech to its interim resolution professional (IRP), with the resolution professional instructed to proceed according to legal protocols.Read more

26 Feb 2025

The Bombay High Court was informed that a 24-acre land parcel near the Bandra-Worli Sea Link toll plaza, earmarked for commercial development, falls outside the coastal regulation zone (CRZ). This clarification, provided by the Union environment ministry and Adani Realty, counters PILs challenging the land allotment. The Maharashtra State Road Development Corporation (MSRDC) awarded the project to Adani Realty in 2024, expecting to generate INR 8,000 crore for infrastructure development. Adani Realty, also leading the INR 23,000 crore Dharavi Redevelopment Project, has pledged compliance with environmental and urban development regulations before commencing construction.Read more

26 Feb 2025

The Maharashtra government has announced an additional subsidy of INR 50,000 for rural housing under the Pradhan Mantri Awas Yojana (PMAY), bringing the total financial aid to INR 2.1 lakh per household. State Minister Jayakumar Gore stated that the provision has been included in the 2025-26 budget. The state has committed to constructing 20 lakh homes within a year, with 10 lakh beneficiaries already receiving their first instalments. The government plans to disburse funds for the remaining 10 lakh homes shortly. The PMAY scheme, aimed at addressing housing shortages among economically weaker sections, is projected to deliver five crore houses nationwide by 2029.Read more

26 Feb 2025

The government has formed a committee to address land acquisition and the rehabilitation of slum dwellers at Moti Dongor, Margao. Led by the director of municipal administration, the panel includes officials from key departments and will explore rehabilitation solutions through government schemes or public-private partnerships. The committee has a two-month tenure and will meet biweekly to assess land requirements, determine rates, and draft a settlement plan. The issue dates back to 2013 when authorities ordered the demolition of 116 illegal structures, but legal disputes have stalled any progress. With the committee now in place, the government aims to finally resolve this long-standing issue.Read more