04 Jan 2024

The Maharashtra state government recently announced plans to establish a dedicated monitoring authority for redevelopment projects, aimed at ensuring their timely completion. The proposed regulatory authority, similar to MahaRERA overseeing new constructions, is expected to play a crucial role in monitoring redevelopment initiatives in key urban centres like Mumbai, Pune, and Thane. The initiative is a response to the increasing number of redevelopment projects and aims to address citizen concerns. Housing Minister Atul Save emphasized the need for efficient monitoring to expedite these projects, aligning the new authority with the successful MahaRERA model. The move reflects a proactive approach to enhance accountability and adherence to timelines in redevelopment projects across the state.Read more

04 Jan 2024

The Brihanmumbai Municipal Corporation (BMC) has taken decisive action against air pollution in Mumbai by issuing stop-work notices to 859 construction sites in the last two months. Two construction firms in the Grant Road area were fined Rs 2 lakh each for violating pollution control norms, and 603 sites received show-cause notices during this period. The BMC's stringent measures come in response to the deteriorating Air Quality Index (AQI) in Mumbai, prompting the issuance of guidelines on October 25 to mitigate air pollution, with a focus on using sprinklers and fogging machines at construction sites to suppress dust.Read more

04 Jan 2024

After a 20-year legal battle, Doreen Fernandes, a widow living in Santacruz, has secured victory in her dispute against Chhagan Bhujbal and his family over her rightful share following the sale of her ancestral bungalow. The Bhujbals, accused of land grabbing, settled by agreeing to pay Rs.8.41 crore as a final resolution. Doreen, the sole caregiver to her three autistic sons, gained public attention through activist Anjali Damania's expose. The financial settlement brings relief to Doreen and she plans to invest it wisely and establish a trust for her sons' future. She has expressed gratitude towards Chief Minister Eknath Shinde and Deputy Chief Minister Devendra Fadnavis for their intervention.Read more

03 Jan 2024

Mumbai's Housing and Area Development Authority (MHADA) conducted its first online lottery for the Master List scheme, granting larger homes to 265 tenants residing in transit homes, as part of a redevelopment initiative. The scheme addresses housing needs for those displaced due to dilapidation or road widening projects, with lottery winners receiving residences that are 100 square feet larger than initially allocated. This marks a significant step in addressing housing challenges in Mumbai, while ensuring transparency in distribution and fulfilling the aspirations of residents awaiting their own homes.Read more

03 Jan 2024

In a significant move, the Maharashtra state has revoked affordable housing projects in No-Development Zones (NDZs) under the Special Development Zone (SDZ) label. But the notification reintroduces a low floor space index of 0.025 on NDZs, enabling tourism development and IT parks. The notification has initiated public input on Excluded Parts (EPs) under the Development Plan 2034. Formerly opposed for ecological reasons, the elimination of SDZs' except in high-density slum areas has sparked reactions. Experts say this move will curtail construction in NDZs, but the shifting away from affordable housing is of concern. They emphasize the need for critical civic infrastructure development in these areas.Read more

02 Jan 2024

Starting January 1, 2024, Maharashtra Real Estate Regulatory Authority (MahaRERA) has mandated property agents to obtain a 'Real Estate Agent Certificate of Competency' by passing the MahaRERA exam, affecting fresh registrations and renewals. Introduced in January 2023, the initiative aims to enhance estate agents' knowledge of property laws and regulations, fostering transparency in real estate transactions. While estate agents appreciate the move, some suggest a more encouraging approach and extended timelines for compliance to accommodate the industry's transition.Read more

02 Jan 2024

The state government of Gujarat has signed MoUs worth Rs 24,707 crore with various companies ahead of the Vibrant Gujarat Global Summit, anticipating substantial economic development. The agreements, spanning diverse sectors, aim to generate over 38,000 employment opportunities and underscore the state's commitment to fostering economic growth. Notably, the Central PSU Housing & Urban Development Corporation Ltd (HUDCO) has partnered with the Gujarat government, committing to invest up to Rs 14,500 crore in housing and urban infrastructure projects, reflecting a comprehensive approach to development in the region.Read more

01 Jan 2024

Noida and Greater Noida authorities have approved recommendations by a committee led by former NITI Aayog chairman Amitabh Kant, opening the door for the revival of 200,000 stalled residential units. The decision, with benefits like a zero period and extended payment timelines, aims to aid 117 projects and 75,000 buyers in Greater Noida. Notably, builders opting for benefits cannot impose extra charges on buyers. The relief package includes an independent assessment of dues and a three-year extension for project completion. Dues settlement timelines are outlined based on amounts. Exclusions apply to sports city and certain development categories, ensuring momentum in real estate while protecting stakeholders.Read more

29 Dec 2023

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has achieved a significant milestone by securing over Rs 140 crore in compensation this year from developers failing to deliver apartments, marking one of the country's highest regulator successes. Issuing 1,123 warrants, MahaRERA aims to recover Rs 764 crore, freezing accounts and attaching assets as warnings. Of 459 projects, recovery occurred in 110. This success stands out amid national challenges in enforcing orders.Read more

29 Dec 2023

Delhi Lieutenant Governor VK Saxena has instructed officials to develop a time-bound plan for the regularisation of unauthorised colonies, stressing the need for a simplified process. The directive follows the recent passage of the National Capital Territory of Delhi Laws (Special Provisions) 2023. Saxena urged prompt implementation of PM-UDAY, PMAY, and the DDA's Land Pooling Policy, emphasising an expedited approach to address long-standing issues related to unauthorised colonies and slum rehabilitation.Read more