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

06 Aug 2024

The Chandigarh government has revoked the building plans and occupancy certificate for Godrej Properties' commercial project, Godrej Eternia, due to alleged environmental regulation violations. The decision, announced on July 25, 2024, stems from the project's failure to obtain necessary permissions from the Standing Committee of the National Board for Wildlife. Godrej Properties plans to contest this decision, emphasising misunderstandings in the order. This action underscores the critical need for real estate developers to adhere to environmental standards, impacting Godrej Properties' operations and the broader industry.Read more

06 Aug 2024

The Bombay High Court has directed the Kalyan Dombivli Municipal Corporation (KDMC) and Thane Police to demolish the illegal Radhai Complex in Dombivli East. This order follows a mob of 200-300 individuals obstructing officials during a demolition attempt on July 16. The court emphasised the need for law enforcement to counteract such resistance. KDMC and police are required to submit compliance reports by August 12. The incident highlights the broader issue of unauthorised constructions and the challenges faced by authorities in urban areas across India.Read more

05 Aug 2024

The National Company Law Tribunal (NCLT) has directed Mahindra Homes to notify homebuyers about its proposed reduction in equity share capital, acknowledging them as creditors under Section 66 of the Companies Act, 2013. Mahindra Homes seeks to cancel a portion of series B and C equity shares held by Actis and Mahindra Lifespace Developers. The NCLT emphasised that advances from homebuyers, totalling INR 213.84 crore, are financial liabilities until possession is handed over. The ruling highlights the importance of transparent communication with all stakeholders and sets a precedent for future capital restructuring cases in the real estate sector. The next hearing is on October 30.Read more

05 Aug 2024

The Karnataka government introduced two bills to enhance revenue and prevent water theft. The Karnataka Municipalities Bill, 2024, imposes fines of up to INR 50,000 and 15-day imprisonment for officials failing to collect property tax and double tax on unauthorised buildings. The Karnataka Irrigation Bill increases water theft penalties to INR 2 lakh and two-year imprisonment, requiring government permission for drilling near canals. These amendments aim to improve compliance and resource management, ensuring better adherence to regulations and preventing illegal activities, thus enhancing accountability and contributing to the state's development and sustainability.Read more

05 Aug 2024

The Yamuna Expressway Authority (YEIDA) is re-examining 36 previously unsuccessful land acquisition attempts to expand its holdings and curb illegal constructions. The initiative covers over 6,317 hectares in various sectors. Challenges included farmer opposition over low compensation, leading to court stays. The survey also addresses encroachments, with notices issued to over 300 violators. Upon completion, YEIDA plans residential, group housing, and transport projects to foster regional growth. This effort aims to secure land for development, enforce proper use, and support infrastructure and economic expansion, ensuring transparent and fair processes in land management.Read more

05 Aug 2024

Ghaziabad is set to increase its circle rate by 20% for residential and commercial properties. The circle rate, established by the state government, is the minimum price below which a property cannot be sold and is used to calculate stamp duty and registration charges. This proposed hike comes after significant infrastructural developments, such as the Delhi-Meerut Rapid Rail, which have raised property values. If the proposal is approved, higher circle rates will result in increased stamp duty and registration fees, thereby raising overall property prices. Public feedback will be sought before finalising and implementing the revised rates.Read more

02 Aug 2024

The New Town Kolkata Development Authority (NKDA) has introduced new regulations permitting builders to store construction materials on footpaths under specific conditions. Developers with approved plans can now use footpaths for storage, provided a 1.5-metre pedestrian passage remains clear. This initiative balances construction needs with pedestrian safety. All future projects in New Town will require a construction management plan detailing material storage and waste disposal practices. An upcoming Standard Operating Procedure (SOP) will outline enforcement and penalties. This regulation aims to improve construction efficiency while ensuring safe and uncluttered sidewalks for pedestrians.Read more

02 Aug 2024

Gurugram authorities are cracking down on illegal construction in affordable housing units, following a survey by the District Town Planner (Enforcement) department revealing widespread violations in EWS category homes in DLF Phase 5. Show-cause notices were issued to 100 homeowners for illegally converting EWS units into commercial spaces or adding extra floors. Despite notices, inadequate responses have led to the preparation of restoration orders. These violations have strained infrastructure, highlighting the need for stricter enforcement of building regulations and protection of low-income residents' rights. Restoration orders will mandate compliance or result in property sealing.Read more

02 Aug 2024

The Competition Commission of India (CCI) has dismissed a complaint against Indiabulls Housing Finance and its officials, including the Managing Director and Chairman, for alleged abuse of dominant position through misleading advertisements. Complainant Anil Bansal accused the company of offering attractive loan rates that later increased, creating market barriers. However, the CCI found no evidence of anti-competitive practices, noting the highly competitive landscape of the property loan market in India. This decision clears Indiabulls Housing Finance of wrongdoing and underscores the role of the CCI in maintaining fair competition and protecting consumer interests.Read more