20 Jun 2023

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has issued a "public notice" to Investors Clinic, a real estate agent, for allegedly violating rules in promoting a Noida-based project by M3M Group. The notice was issued after Investors Clinic failed to attend a scheduled hearing on June 12, as instructed by UP-RERA. The agent was previously issued a show cause notice on June 3, requesting clarification regarding the promotion and publicity of the "M3M The Cullinan" project in Noida Sector 94.Read more

19 Jun 2023

Operators of fractional property-ownership platforms in India have submitted suggestions to the Securities and Exchange Board of India (SEBI) regarding the regulation of online platforms offering fractional ownership of real estate assets. Their recommendations include allowing investments in under construction assets, reducing experience requirements, granting more time for platforms to transition, and exempting luxury residential properties from regulations. These suggestions aim to enhance investor returns, ensure commercial viability, and improve governance in the sector.Read more

19 Jun 2023

The Vadodara Municipal Corporation (VMC) is set to decide on disciplinary action against officials involved in a housing scheme scandal. It was discovered that a list of beneficiaries had been forged and houses were allocated to individuals not selected in the original draw. An inquiry revealed that an operator changed the lists under an executive engineer's instruction. A report has been submitted, and the VMC's standing committee will determine the appropriate action against the executive engineer.Read more

PNT Reporter

19 Jun 2023

Visakhapatnam authorities are gearing up for land pooling in preparation for the "Housing for Poor" initiative. Over 770 acres of land have been identified across various villages. Grama Sabhas was conducted from June 12 to June 18 at Panchayat Offices for public opinion. Objections can be lodged at the Land Protection Cell Deputy Tahsildars' offices until July 4. The notification states that 771 acres will be acquired, with Anandapuram (401 acres), Visakha rural (118 acres), Padmanabham (116 acres), and Bheemili (135 acres) mandals being the major areas.Read more

PNT Reporter

19 Jun 2023

The Ahmedabad Municipal Corporation (AMC) is set to implement a groundbreaking reform by offering its newly built properties for direct sale instead of the customary 99-year lease, thereby avoiding the 18% Goods and Services Tax (GST) levied on property auctions based on lease deeds. The move comes after the AMC faced a hefty GST payment of Rs 36 crore on an auctioned property valued at Rs 197 crore. The shift aligns with industry trends and may have implications for other municipal corporations in the country.Read more

PNT Reporter

19 Jun 2023

In response to the National Green Tribunal's recent environmental clearance cancellation for Technopark Phase-3's expansion, the Kerala government insists the land in question is not a wetland. Using classifications from the acquisition notification, government reports, and satellite images, the authorities argue the land is a long-idle paddy field. Insiders suggest an appeal may be filed following the ruling. The focus is now shifting to the project's cumulative impact assessment.Read more

PNT Reporter

16 Jun 2023

Mumbai's plan to rejuvenate ageing buildings on collector lands faces fresh hurdles due to new state regulations. The 8,000 housing societies constructed 50-60 years ago must now ensure 20% OBC membership in new flats, with premiums determined by the government. Existing battles to reduce ownership land premiums add to the struggle. With threats to cast 'None of the Above' votes in upcoming elections, urgent resolution is needed to ensure the safety of 800,000 families and the continuity of Mumbai's urban regeneration.Read more

PNT Reporter

16 Jun 2023

In an ongoing high-profile Jharkhand land fraud case, the Enforcement Directorate (ED) has presented its initial chargesheet in a special court, implicating ten individuals, including IAS officer Chhavi Ranjan. The case centres around the fraudulent seizure and sale of two land parcels, together worth Rs 74.39 crore. The ED's investigation, stemming from a complaint by the Ranchi Municipal Corporation, has unveiled extensive evidence of forgery and corruption. The chargesheet marks the first formal step towards justice in this grim demonstration of money-laundering and corruption.Read more

PNT Reporter

16 Jun 2023

Environmentalists in Ghaziabad, represented by Prasoon Pant and Pradeep Dahlia, have filed a petition against 21 establishments, including malls, hotels, and banquet halls, for operating without obtaining the necessary No Objection Certificate (NOC) from the state pollution control board. Following a hearing, the National Green Tribunal (NGT) issued notices to the Central Pollution Control Board (CPCB) and the Uttar Pradesh Pollution Control Board (UPPCB) to respond to the allegations. The case is scheduled for further proceedings on July 6.Read more

PNT Reporter

16 Jun 2023

The Vadodara Municipal Corporation (VMC) has issued a public notice asking beneficiaries of housing schemes in the city to clear pending dues totaling over Rs 100 crore. The notice applies to 24 housing schemes, and beneficiaries have until June 30 to repay their outstanding amounts. Failure to do so will result in the cancellation of house allotments. The VMC aims to recover funds and ensure the sustainability of housing projects. Beneficiaries have a designated period from June 13 to 16 to communicate with the VMC and address any concerns regarding their outstanding dues.Read more