08 Aug 2024

The Supreme Court has directed the Haryana government to provide detailed information on affordable housing projects licensed over the past decade. This directive arises from the ongoing legal battle involving buyers of Mahira Homes in Sector 103, Gurugram, who have invested approximately INR 160 crore in a stalled project. Issued on July 22, the court's order mandates the Department of Town and Country Planning (DTCP) to furnish details on flat costs at launch, approved layouts, and amendments to building plans. The court seeks to ensure transparency and accountability in tripartite agreements between builders, homebuyers, and banks. With 73 affordable housing licences issued in Gurugram, many projects, including Mahira Homes, have seen minimal progress, raising concerns about regulatory enforcement. The next hearing is scheduled for September 27, with significant implications for future housing project oversight in Haryana.Read more

08 Aug 2024

The Delhi High Court has ordered a CBI inquiry into the misuse of Public Interest Litigations (PILs) following concerns raised by the Municipal Corporation of Delhi (MCD) regarding a law student, Rahul Kumar, who has filed 42 PILs related to unauthorised construction. The court, led by Acting Chief Justice Manmohan and Justice Tushar Rao Gedela, expressed alarm over PILs being potentially exploited, with only 17 of Kumar's petitions listed for hearing. The MCD argued that Kumar's actions suggested a pattern of misuse, as many petitions were not pursued effectively. The court mandated a CBI preliminary investigation to determine if any legal violations occurred, with findings expected by the next hearing. This decision underscores the judiciary's commitment to maintaining the integrity of the legal system and may prompt stricter guidelines to prevent PIL misuse, ensuring they serve genuine public interest.Read more

08 Aug 2024

The Kerala government has revamped the Land Disposal Regulations (LDR) to boost industrial development. Key changes include extending lease periods from 30 to 60 years, and up to 90 years for investments over INR 100 crore. The revised regulations also allow subleasing of industrial spaces and introduce a new instalment scheme to ease financial pressures on investors. These updates reflect Kerala's strategy to enhance its industrial ecosystem and attract significant investments. By modernising land policies and investing in infrastructure, the state aims to become a major industrial hub, appealing to both domestic and international investors.Read more

08 Aug 2024

Mumbai's Brihanmumbai Municipal Corporation (BMC) has relaxed its cement concrete (CC) road tender conditions for the second phase, moving away from 2023's stringent requirements. This shift has allowed previously ineligible companies, such as RPS Infraprojects, to qualify. RPS Infraprojects, once blacklisted in 2016, has now secured a significant INR 1,566 crore project in the city's western suburbs. The new criteria include relaxed experience requirements and a ten-year lookback period. Critics argue these changes could compromise tender integrity, while BMC believes the revisions will foster greater competition and potentially lower costs.Read more

07 Aug 2024

The Government of India is advancing in its mission to provide ownership rights to residents of Delhi's unauthorised colonies under the PM-UDAY scheme. As of July 16, 2024, 23,811 residents have secured ownership rights, according to a report presented in Parliament by Minister of State for Housing and Urban Affairs, Tokhan Sahu. Despite receiving 1,22,729 applications, the approval rate stands at 19%, indicating a need for a more efficient process. The initiative, launched in 2019, aims to improve living conditions and access to services for residents of unauthorised colonies. The DDA has also allocated INR 2,173.81 crore for urban development projects, with 22 currently in progress. The scheme promises significant improvements in housing and infrastructure, potentially increasing property values and quality of life for residents.Read more

07 Aug 2024

Piramal Capital Housing Finance's managing director and his wife have settled insider trading charges with the Securities and Exchange Board of India (SEBI) for approximately INR 43.5 crore. The settlement resolves allegations of illegal gains from trading Piramal Enterprises shares, with nearly INR 16 crore in unlawful profits identified. The settlement includes INR 24.8 crore in disgorged profits and interest, and fines of INR 17.4 crore on Greatdeal Finconsult Advisors, INR 91 lakh on MD Jijina, and INR 45.5 lakh on his wife Benaifer Jijina. This case highlights SEBI's commitment to enforcing market integrity and highlights the importance of compliance in corporate governance.Read more

07 Aug 2024

Amid concerns over decreasing groundwater levels in Raipur, the Raipur Municipal Corporation (RMC) has mandated real estate developers to construct rainwater harvesting systems, targeting 50 pits per project. The goal is to build 50,000 pits citywide, with 20,000 during this monsoon season, each capable of storing 200,000 litres of rainwater. In a meeting with builders and CREDAI members, RMC Commissioner Abinash Mishra emphasised the urgency of combating water scarcity with innovative solutions. Prioritised areas include Saddu, Mowa, and Daldal Seoni. Developers like Raheja Homes and WallFort City have already begun compliance, highlighting the effectiveness of rainwater harvesting in projects like Indira Smriti Van. The initiative seeks broader community participation to ensure sustainable urban water management.Read more

07 Aug 2024

The Haryana Shahari Awas Pradhikaran (HSVP) has sealed seven shops at the DLF-1 rapid rail station due to non-payment of rent. These shops, totaling 1,956 square feet, are owned by Sunil Miglani. The sealing, carried out following a Punjab and Haryana High Court ruling, highlights HSVP's efforts to enforce lease agreements. Vikas Dhanda, HSVP estate officer I, indicated that this is just the start, with plans to seal an additional 11 shops at four other stations due to similar issues. This action underscores HSVP's commitment to recovering outstanding dues and maintaining financial stability, amidst broader challenges in public lease agreements. The move also raises questions about the impact of economic difficulties on tenant compliance and lease management.Read more

06 Aug 2024

Rajeev Kumar (name changed) in Zamrudpur, South Delhi, added a floor to his 30 square yard Lal Dora property in 2019 without seeking approval. The Municipal Corporation of Delhi (MCD) issued a demolition notice, leading to a legal battle. Lal Dora areas face challenges in property ownership due to outdated records and lack of clear titles, complicating renovations and bank loans. Despite the central government's Svamitva scheme for mapping rural areas, Delhi has not fully implemented it. Experts stress the need for clear land titles and proper documentation to resolve ownership disputes and facilitate development in these regions.Read more

06 Aug 2024

Residents of Nadaprabhu Kempegowda Layout (NPKL) in Bengaluru are challenging the Bangalore Development Authority's (BDA) recent imposition of a INR 31,000 road cutting fee on site allottees. This fee is being charged despite ongoing delays in providing essential infrastructure such as drinking water, recycled water, and an underground drainage system. Site allottees, who have been waiting for over eight years, argue that the BDA has not fulfilled its initial promises. The Nadaprabhu Kempegowda Layout Open Forum has requested the Chief Minister to halt the fee collection, citing financial strain on residents. The Deputy Chief Minister confirmed that development costs should be included in site fees, raising concerns about the fairness of additional charges before infrastructure completion.Read more