11 Sep 2023

The Mumbai Police's Economic Offences Wing (EOW) has arrested builder Kinnar Nayak for his alleged involvement in a case of fraud related to a redevelopment project in Mumbai. Nayak, the director of Taksha Spaces, had approached the complainant, Amjad Shaikh, and his father in 2015, requesting a substantial sum of Rs 35 crore for a redevelopment project at the Govardhan Cooperative Housing Society in Goregaon. Shaikh transferred Rs 30 crore to Nayak's accounts but, despite promises, Nayak failed to fulfill his commitments. The case underscores the importance of due diligence and legally binding agreements in real estate transactions to prevent fraudulent activities.Read more

11 Sep 2023

The Enforcement Directorate (ED) has attached properties worth approximately Rs 19.67 crore in connection with a loan fraud case allegedly involving builder Uma Shankar Patro and three former bank officials in Bhubaneswar dating back to 2017. The case, which originated from three FIRs registered by the Central Bureau of Investigation (CBI), revolves around the alleged misappropriation of Rs 18.79 crore through multiple housing loans. The attached properties include movable assets like bank balances and mutual fund balances, as well as immovable assets such as land and buildings in Puri and Bhubaneswar. The accused allegedly used forged documents to secure loans and misappropriate public funds.Read more

09 Sep 2023

The Tamil Nadu state government has allocated Rs 79.28 crore to construct 1,500 homes for the Scheduled Tribes (ST) and Narikuravar communities. This initiative aims to provide housing for 1,000 homeless ST members and 500 Narikuravars across 19 districts in the state. The housing grant was formalized through a government order (G.O.), reflecting the government's commitment to providing homes to eligible recipients. Originally budgeted at Rs 45 crore, the project's cost was increased to Rs 79 crore after a comprehensive assessment. This initiative is part of a broader strategy to transition these communities into settled lifestyles, including providing land rights and support for employment and entrepreneurship.Read more

09 Sep 2023

In a significant push for affordable housing, 11,700 two-bedroom flats were allotted to beneficiaries in Hyderabad recently. This allocation by the Greater Hyderabad Municipal Corporation (GHMC) responds to the 7 lakh applications received since the scheme's announcement. Minister Talasani Srinivas Yadav, who stepped in for the absent MA&UD Minister KT Rama Rao, emphasized the scheme's transparency and assured further allotments for eligible candidates. The move signals the Telangana government's dedication to enhancing the city's housing infrastructure.Read more

09 Sep 2023

The Enforcement Directorate (ED) has attached three land parcels worth over Rs 161 crore in Ranchi as part of a money laundering investigation related to land grabbing and fraud in Jharkhand. A fresh charge sheet has been filed in Ranchi, with previous action taken on June 12. Jharkhand Chief Minister Hemant Soren has been summoned for questioning but has not appeared, reportedly filing a petition against the ED's actions in the Supreme Court. These land parcels were allegedly fraudulently mutated in favour of land mafias with the complicity of land revenue department officers. The total attachment of properties now stands at Rs 236 crore in this case.Read more

09 Sep 2023

The Greater Noida Industrial Development Authority (GNIDA) is advancing its Master Plan 2041, aiming to allocate more land for industrial use and capitalize on its proximity to the Noida International Airport by establishing a commercial hub. Currently, 25.4% of the proposed 40,000-hectare Phase 2 area is designated for industries, a share the state government seeks to increase. Although preliminary approval has been granted, final authorization awaits stakeholder discussions and public input. This initiative also promotes mixed land-use near the upcoming Noida International Airport, with plans for road extensions, hospitality hubs, and enhanced transportation infrastructure, including metro and green corridors.Read more

08 Sep 2023

In Chhattisgarh, ahead of the assembly elections, the state government has approved housing for 6,99,439 eligible beneficiaries who were on the permanent wait list of the Pradhan Mantri Awas Yojana (Gramin). The government is also implementing the Gramin Awas Nyay Yojna-Rural (GANY) to address housing needs for those excluded from the 2011 census. This initiative aims to provide durable homes, with 100% state funding allocated for construction, and a budget provision of Rs 100 crore for the fiscal year 2023-24.Read more

08 Sep 2023

The Bhubaneswar Development Authority (BDA) is shifting its focus to provide affordable housing options for economically weaker sections (EWS) and lower-income groups (LIG). Private real estate developers undertaking projects on government-owned land will now be required to allocate 10% of housing units for EWS and LIG beneficiaries at a subsidized rate of Rs 1,780 per square foot. The BDA has already allocated land for this purpose and plans to expand this initiative. Additionally, the BDA is working on housing projects for the middle-income group and comprehensive development plans for newly added villages. Their vision includes creating a New City on government-owned land for economic development.Read more

08 Sep 2023

The Telangana Real Estate Regulatory Authority (TS-RERA) has taken a significant step forward by introducing virtual hearings for complaints against builders and developers. This initiative aims to expedite the resolution process and provide convenience to complainants, regardless of their location. Within just 40 days of its establishment, TS-RERA has implemented this technology-driven approach, making it easier for individuals from around the world or those facing accessibility challenges to participate in hearings. The move emphasizes TS-RERA's commitment to leveraging technology for the benefit of the public, increasing transparency, and holding unscrupulous developers accountable.Read more

08 Sep 2023

Nashik Municipal Corporation (NMC) has reversed its previous ban on building projects exceeding 70 meters in height. The decision, which had stirred controversy among builders, was initially made due to the unavailability of a 90-meter ladder for the fire department. With the inability of a company to fulfil the ladder order, the town planning department imposed a two-year moratorium on high-rise projects. However, NMC Commissioner Ashok Karanjkar has now directed the withdrawal of this restriction. Over the past two years, more than 100 projects over 70 meters have received approval.Read more