14 Nov 2023

The Insolvency and Bankruptcy Board of India (IBBI) has proposed significant amendments to enhance the insolvency resolution process for real estate projects. These changes include mandatory project registration with the Real Estate Regulatory Authority (RERA), the exclusion of properties in the possession of homebuyers from liquidation, segregated bank accounts for each project, compliance with RERA Act provisions, streamlined handover processes for units available 'as is, where is,' and the facilitation of separate resolution plans for specific projects. These reforms aim to provide substantial relief to homebuyers and improve transparency, efficiency, and compliance within the real estate insolvency resolution framework.Read more

14 Nov 2023

The Khed district court in Mumbai greenlights the demolition of Sai Resort in Dapoli, Ratnagiri, overturning a trial court's restraining order. Originally owned by Shiv Sena leader Anil Parab, later transferred to Sadanand Kadam, the resort faced legal scrutiny for violating Coastal Regulation Zone (CRZ) guidelines. The Ratnagiri collector's demolition order, challenged in the trial court, was contested by Kadam. However, the district court, citing unauthorized construction exceeding sanctioned plans, emphasizes the importance of upholding environmental regulations. The ruling sets a precedent, reinforcing the necessity of adhering to construction guidelines in ecologically sensitive areas and maintaining the rule of law.Read more

11 Nov 2023

The Airports Authority of India (AAI) has retracted its plan to build a restaurant-cum-hangout space at the Juhu parking lot in Mumbai. The decision came after strong opposition from residents and local authorities who emphasized that the area was designated for parking in the city's development plan. The proposed project by AAI was met with resistance, and local officials clarified that current regulations only allow for a security booth (chowky) to be constructed on land reserved for parking. The rollback is seen as a positive step, with hopes for the parking lot to be optimally utilized to address Juhu's parking issues.Read more

11 Nov 2023

The Belagavi Urban Development Authority (BUDA) has called for tenders to create a new master plan for the city that will remain in effect for the next 17 years. The existing 2014 master plan covers Belagavi and 27 surrounding villages. With 28 additional villages set to be included in the new plan, BUDA's jurisdiction now extends to encompass 55 villages. A GPS-based survey, costing ?1.8 crore, will be conducted to gather detailed data in accordance with specified guidelines. The consultancy firm has eight months to submit the new master plan report. This move has sparked opposition from some organizations and farmers concerned about the inclusion of the additional villages.Read more

11 Nov 2023

The State Higher and Technical Education Department has approved Rs. 90 crore for the renovation of the Savitribai Phule girls' hostel at Charni Road following a tragic incident in June. The proposed redevelopment involves an eight-storey building to replace the deteriorating hostel. Two committees were formed to investigate the incident and evaluate security measures in 40 state-wide hostels. The government, responding to recommendations, mandated stringent security measures, including a secure boundary wall, CCTV surveillance, and trained personnel. The reforms reflect a commitment to female students' safety and mark a significant response to the tragic event.Read more

11 Nov 2023

The Gujarat Industrial Development Corporation (GIDC) in Surat is facing a surge in unauthorized construction activities within its industrial estates, prompting the GIDC to seek police intervention. Despite opposition from some industrial unit owners and allegations of external influence, GIDC has requested police assistance to combat these illegal structures. This unauthorized construction issue threatens regulatory compliance, safety, and environmental concerns within Surat's industrial zones. GIDC's efforts to restore order and address the problem signify a crucial step in upholding established norms and ensuring the integrity of the region's industrial landscape.Read more

10 Nov 2023

Two brothers, Vasant Sham Gulhane and Sajan Sham Gulhane, were arrested for attempting to illegally claim and sell government-owned land in Chembur allotted to the Mumbai police. They erected a signboard warning trespassers and submitted forged property documents, including a 7/12 extract with their father's name as the owner. The police suspect they were manipulated by developers seeking financial gain. The brothers have not revealed the extent of their involvement with the developers. An FIR was registered against them for cheating, criminal trespass, and forgery. Further investigations are underway to identify additional suspects involved in this land-grabbing scheme.Read more

10 Nov 2023

The state government of Andhra Pradesh is in the process of refining its proposed land allotment policy for industries to attract potential investors. This follows the recent approval of the new policy by the state cabinet, led by Chief Minister YS Jagan Mohan Reddy. The cabinet has directed the industries department to prepare a comprehensive plan for further discussion, particularly regarding land allotment options. While no decisions have been made on the third option, which involves executing a sale deed for projects executed in phases, the cabinet did deliberate on the prospect of allotting land based on sale agreements or sale deeds instead of the current lease-based model. These efforts aim to create a more investor-friendly environment and foster economic growth.Read more

10 Nov 2023

A proposal is in motion to establish an overseeing authority for housing societies in Gujarat, addressing the inadequacies of the current cooperative registrar's manpower. The move comes in response to the growing complexities and challenges faced by housing societies. Many residential societies have faced prolonged delays in auditing their accounts, resulting in a pressing need for a more efficient regulatory body. The new authority aims to ensure better management, accountability, and governance within these societies, ultimately benefiting residents and stakeholders alike.Read more

10 Nov 2023

The Karnataka Real Estate Regulatory Authority (K-RERA) has issued an interim order instructing the Bangalore Development Authority (BDA) to promptly register its Arkavathy Layout project, following a complaint by a site allottee regarding project delays and lack of amenities. The K-RERA panel noted the BDA's absence during proceedings from September 2022 to September 2023 and has directed the BDA commissioner to complete the project's registration under Section 3 of the Real Estate (Regulation and Development) Act, 2016, within two weeks. Additionally, the BDA has three weeks to justify why penalty proceedings should not be initiated under Section 59(1) of the Act.Read more