20 Oct 2023

Dozens of farmhouses, sprawling across multiple acres on the Yamuna floodplains, have faced demolition by the Noida Authority. The owners had constructed concrete structures on the premises and were using them for various commercial activities. This action signals the beginning of a crackdown on unauthorized developments along the environmentally sensitive floodplain area. The Noida Authority has emphasized its commitment to preserving the floodplains and curbing illegal encroachments. Further demolitions are expected as part of a broader effort to reclaim and protect the Yamuna floodplains.Read more

20 Oct 2023

In a significant policy change in Haryana, the responsibility for constructing substations will now fall on distribution companies (discoms), according to an official notification by the Haryana Electricity Regulatory Commission (HERC). Under this new directive, developers must cover the costs of the sanctioned load for a condominium or township, and also allocate land to the discoms for substation installation. This shift in responsibility is poised to streamline power infrastructure development and distribution in the region, marking a pivotal change in the construction landscape.Read more

19 Oct 2023

A three-acre urban plot in Pune, owned by the Yerawada police station, has reignited controversy 13 years after objections were raised by former Pune police commissioner. The plot was initially allotted to the police in 1979 but later became embroiled in a complex exchange proposal involving a private trust and a private developer. The controversy underscores concerns about transparency and integrity in land allocation, highlighting the nexus between politics and developers in the region. This renewed debate emphasizes the need for accountability, transparency, and adherence to legal procedures when handling public assets and resources.Read more

19 Oct 2023

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) is proactively enhancing transparency and oversight in real estate project financing. Collaborating with the State Level Bank Committee (SLBC), UP-RERA enforces compliance with RBI directives and the RERA Act. Citing legal provisions, it mandates a 70-30 percent fund allocation in real estate project bank accounts. UP-RERA's stringent directives include three separate accounts, automatic deductions, and prohibiting debit cards or check books for promoters. Banks must verify fund utilization in proportion to construction progress, reinforcing integrity and trust. This initiative revolutionizes real estate project financing, bolstering transparency and accountability in the sector.Read more

19 Oct 2023

The HMDA (Hyderabad Metropolitan Development Authority) has urged the Telangana High Court to initiate a police probe into a 49-acre Shamshabad land fraud case. The land belonged to Paigah estate connected to Nizam properties. The case involves alleged attachment of fake judgment copies from 1998 to gain land title. The case prompted the High Court bench, led by Chief Justice Alok Aradhe, to order a probe by the judicial registrar. Advocate General BS Prasad and the HMDA estate officer emphasized the need for a probe, citing instances where the Supreme Court ordered criminal investigations into similar cases of fraud on the court.Read more

19 Oct 2023

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has penalized five real estate promoters, including Attractive Nirman, Basera City Developers, Hallmark Vyapar, Rajeev Son HUF, and Lavish Buildmart, for violating Section 11 of the RERA Act. Each has been fined Rs 1 lakh for advertising real estate projects without the required RERA registration numbers and portal listings. UP-RERA enforces regulations to promote transparency and protect homebuyers' interests. The promoters must now submit affidavits detailing their violations and correct their advertisements to include RERA registration details. UP-RERA's actions aim to encourage compliance, emphasizing the importance of transparency in the real estate sector, benefiting both developers and buyers.Read more

19 Oct 2023

The West Bengal Housing Infrastructure Development Corporation (WBHIDCO) has introduced a policy change in New Town, allowing cooperative societies to transfer membership without requiring prior permission from the organization. This policy revision applies to housing societies that have been allocated freehold or leasehold plots for apartment construction. The move simplifies administrative procedures, giving cooperative societies more autonomy and reducing bureaucratic hurdles in managing their memberships in line with the West Bengal Cooperative Societies Act.Read more

18 Oct 2023

MahaRERA, the Maharashtra Real Estate Regulatory Authority, is taking a proactive approach to enhance the quality of real estate construction in the region. The regulatory body is developing a comprehensive framework for quality assurance reporting, aiming to prevent defects from occurring in realty projects thereby benefiting both developers and homebuyers. MahaRERA seeks to engage all stakeholders, including developers, to create a collaborative atmosphere prioritizing quality and consumer satisfaction. By proactively enforcing rigorous standards and transparency, the regulatory authority aims to reduce defects and potential disputes in the post-possession phase.Read more

18 Oct 2023

The commencement of the model code of conduct for the upcoming assembly elections in Telangana has had a noticeable impact on property registrations, particularly within the Hyderabad Metropolitan Development Authority (HMDA) limits. Many real estate developers, buyers, and investors are choosing to postpone property transactions until after the elections due to concerns about potential risks associated with carrying large sums of cash during heightened police checks. Additionally, inauspicious days in this month have contributed to the decline in property registrations. As a result, officials have observed a drop in property registrations and revenues compared to the previous year, affecting both urban and agriculture land transactions.Read more

18 Oct 2023

In August, the Pioneer Cooperative Housing Society (CHS) located in Panvel, India, lodged a formal complaint with the local police, bringing to light a disturbing incident. They revealed that an astonishing six out of their ten flats had been fraudulently sold and registered without their knowledge or consent. This shocking revelation uncovered a major property scam, totalling a significant value of Rs 4 crore. The authorities have been diligently investigating the matter for the past two months. Recently, a prominent Mumbai builder has been apprehended in connection with this alleged scam.Read more