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

02 Aug 2024

The Bihar Assembly has passed the Bihar Lift and Escalator Bill, 2024, introduced by Energy Minister Bijendra Prasad Yadav, to enhance safety standards in multi-storied buildings. This legislation mandates registration and regular inspections of lifts and escalators in residential, commercial, and public buildings. Key provisions include mandatory maintenance, routine inspections, and third-party insurance for accident compensation. The bill responds to the increasing number of high-rise structures in Bihar, aiming to prevent accidents and ensure public safety. This move aligns Bihar with other Indian states prioritising stringent safety regulations in the construction industry.Read more

01 Aug 2024

Chief Minister M K Stalin inaugurated a new scheme under the Department of Housing and Urban Development, allowing self-certification for building permits of homes up to 3,500 square feet on plots up to 2,500 square feet. The initiative, first introduced in the 2024-25 state budget, aims to help economically weaker sections and the middle class by simplifying the approval process and reducing costs. Applicants can receive permits immediately, with certain inspections waived. The scheme is expected to benefit rural and urban areas alike, reducing approval charges and streamlining home construction in Tamil Nadu.Read more

01 Aug 2024

The Supreme Court has directed the High Court of Bombay at Goa to resolve the dispute over the Outline Development Plans (ODPs) for five coastal villages in Goa-Calangute, Candolim, Parre, Arpore, and Nagoa. Introduced on December 15, 2022, the ODPs face opposition from environmental activists and residents, leading to a High Court stay on development activities. The Goa Foundation argues that the ODPs will cause environmental harm, while allegations have been made against Calangute MLA Michael Lobo for influencing the plans for personal gain. The Supreme Court's decision to send the case back to the High Court will determine the future of these development plans and their impact on Goa's coastal environment.Read more

01 Aug 2024

The Karnataka government has approved a bill to restructure Bengaluru's administration, proposing to divide the Bruhat Bengaluru Mahanagara Palike (BBMP) into up to 10 smaller units. This aims to enhance governance in the city, which faces challenges like traffic congestion, waste management, and infrastructure development. The plan includes increasing the number of wards from 225 to 400 and establishing a Greater Bengaluru Authority (GBA) to coordinate the smaller units. The GBA will oversee the 1,400 sq km region but not local planning, which remains with the Bangalore Development Authority (BDA).Read more

01 Aug 2024

The Karnataka government is addressing illegal land registrations, especially in high-value areas like Bengaluru, by integrating "e-khatas" or electronic land records for all properties. Revenue Minister Krishna Byre Gowda announced this initiative to enhance transparency and prevent illegal conversions of agricultural land. Responding to allegations of sub-registrar collusion with land sharks, Gowda highlighted that a new bill, pending the President's assent, aims to curb such activities. The government also addressed issues related to the regularisation of houses on government land and the usage of 'Kumki' land. These measures aim to protect legitimate property owners and ensure accurate land records.Read more

31 Jul 2024

The Goa State Cabinet has approved the introduction of the Goa Escheats, Forfeitures and Bona Vacantia Bill, 2024. This bill aims to empower the state government to take over properties of individuals who die without legal heirs, as well as properties without a rightful owner. The proposed law will grant the state government the authority to manage, administer, and dispose of such properties. It establishes a comprehensive legislative framework to govern the management of properties that have escheated, lapsed, or are considered bona vacantia. The bill ensures due process for potential claimants while also safeguarding the state's interests.Read more

31 Jul 2024

The Supreme Court has provided relief to homebuyers facing financial distress due to delayed possession of flats under the subvention scheme. Banks had been pressuring homebuyers to repay loans despite delayed projects. The court has halted coercive actions against homebuyers and directed builders to provide details about their assets. The decision highlights the need for regulatory reforms in the subvention scheme to protect home buyer interests and prevent similar issues in the future.Read more

31 Jul 2024

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has issued a public notice summoning Noida and Greater Noida authorities and 18 builders for online hearings to resolve complaints from 32 homebuyers. The grievances involve delays, construction quality issues, and contractual breaches, causing significant distress for the homebuyers. These hearings, conducted by the Lucknow and Gautam Buddh Nagar benches of UP-RERA, aim for faster and more convenient dispute resolution. This proactive approach by UP-RERA seeks to protect homebuyers' rights and set a precedent for swifter resolutions in Uttar Pradesh's real estate market.Read more

31 Jul 2024

A recent MHADA lottery for 4,850 flats in Pune, Pimpri Chinchwad, Tathawade, Solapur, and Sangli saw an overwhelming 46,532 applications, indicating a high demand for affordable housing. Housing Minister Atul Save announced the figures, highlighting the intense competition of 9.6 applicants per flat. The lottery's Inclusive Housing Scheme was particularly popular, receiving 46,477 applications for 1,372 flats. With 2,423 flats still available on a first-come, first-served basis, and plans for future lotteries, the Maharashtra government aims to address the housing shortage through inclusive housing schemes and frequent lotteries.Read more