09 Jan 2025

The Maharashtra Housing and Area Development Authority (MHADA) has announced plans to reserve 555 flats in nine residential projects for the economically weaker section (EWS) in Nashik. These flats will be allocated through a lucky draw in the coming months. This move follows the state's 2013 mandate for builders to reserve 20% of flats in large residential projects for low-income groups. Additionally, MHADA is seeking clarification from the Nashik Municipal Corporation (NMC) regarding the EWS reservation rules for projects developed on "final plots," after developers raised concerns about compliance.Read more

09 Jan 2025

The Rural Development Ministry aims to sanction 10 lakh homes under the Pradhan Mantri Awas Yojana-Gramin (PMAY-G) in January 2025, aligning with its ambitious 2024-25 fiscal targets. With a record allocation of INR 54,500 crore, the scheme targets constructing two crore additional homes by 2029, ensuring "housing for all." Progress is steady, with 31.65 lakh homes already sanctioned this fiscal year. The ministry is also implementing monthly reviews to accelerate rural development, improve infrastructure, and enhance living conditions for underserved communities.Read more

09 Jan 2025

The Delhi Development Authority (DDA) has launched special camps to assist eligible individuals under the 'Sasta Ghar' scheme, offering homes at a 25% discount to groups such as construction workers, auto and taxi drivers, women, ex-servicemen, and SC/ST individuals. The initiative, backed by Lieutenant Governor VK Saxena, aims to improve housing access for vulnerable populations. Camps are set up at construction sites and through various outreach programs involving government departments, offering guidance on eligibility and applications. By directly engaging with communities, the scheme seeks to address Delhi's housing shortages and enhance living conditions for underserved groups.Read more

08 Jan 2025

Maharashtra's Rural Development Department (RDD) will launch a 100-day housing initiative from January 1 to April 10, 2025, focusing on providing affordable homes to economically disadvantaged groups. The plan prioritizes land allocation for landless beneficiaries, expediting approvals, and timely fund disbursements. Incomplete housing projects will receive special attention, while Lok Adalats will address disputes efficiently. To overcome resource constraints, the RDD will establish sand and land banks and collaborate with stakeholders, including NGOs, cooperatives, and technical institutions like IITs. This initiative builds on lessons from past housing schemes and aims to ensure timely, inclusive, and sustainable housing solutions for Maharashtra's rural poor.Read more

08 Jan 2025

To address financial challenges, the Chandigarh Municipal Corporation (MC) plans to sell a 6.8-acre land parcel in Shivalik Enclave, Manimajra, valued at approximately INR 195 crore at current collector rates. Proceeds will fund a housing project with apartments and a retail center. Following a ground survey and verification process, the land is undergoing zoning, a step expected to take six months. The potential revision of collector rates could further boost the sale price. This move aligns with the MC's history of leveraging land sales for urban development, as seen in the Uppal Housing (2005) and JW Marriott (2006) projects.Read more

08 Jan 2025

The Lucknow Development Authority has extended its deadline for flat registrations to March 31, 2025 offering prospective buyers more time to purchase homes in city housing projects. Currently, 2,170 flats are available across 22 LDA housing societies. The largest number of vacancies is in Kabir Apartment (1,043 units), followed by Ratan Lok (179 units), Ashlesha Apartment (132 units), and Srishti and Smriti Apartments (122 units). Other complexes have varying numbers of available units ranging from 1 to 121 flats. Interested buyers can get detailed information from the LDA website or office.Read more

08 Jan 2025

The Bengaluru Development Authority (BDA) has outlined plans for the development of six new residential layouts as part of the Peripheral Ring Road-2 (PRR-2) project. To support this initiative, the BDA will acquire approximately 3,000 hectares of land from both government and private sources across various villages in Bengaluru's outskirts. The project aims to address the city's growing demand for housing by creating 50,000 new residential sites. Landowners will receive compensation under a 40:60 ratio, with 40% paid as developed plots in the new layouts while the remaining 60% will be monetary compensation. The development is expected to improve urban infrastructure, alleviate housing shortages, and stimulate the real estate market.Read more

07 Jan 2025

Smartworks, a prominent provider of flexible workspaces, has leased 470,000 square feet at the DLF Commercial Building in Gurugram, marking its fourth managed campus in the city. The company operates 45 centres across 13 cities, offering 9.12 million square feet of workspace. As of mid-August 2024, Smartworks filed its draft red herring prospectus for an IPO, which will include a fresh issue of INR 550 crore in equity shares and an offer for sale of 6.759 million shares. The company is considering raising INR 110 crore through a pre-IPO placement and has attracted USD 29 million from Keppel Ltd since 2019.Read more

07 Jan 2025

The Maharashtra Housing and Development Authority (MHADA)'s Mumbai Board is set to start the construction of over 35,000 homes as part of the state government's 100-day initiative. The projects include the rehabilitation of 27,000 slums in Sanjay Gandhi National Park, the redevelopment of Abhyudaya Nagar, and the rebuilding of 25 buildings for Sindhi refugees in GTB Nagar. Groundbreaking ceremonies for these projects will take place soon, and construction is expected to commence over the next two months. The projects will add significant housing space and provide an additional 63,000 sq m for future housing units.Read more

07 Jan 2025

For the first time, the Sabarmati Riverfront will witness a mixed-use development project that combines residential apartments and commercial spaces. The Sabarmati Riverfront Development Corporation Limited (SRFDCL) has invited proposals for the sale of development rights for a strategically located 5,710 sq m plot near Keshav Nagar on the river's western bank. The project will include commercial spaces up to four floors and residential units above, with a height cap of 52.17m. The base price for the rights is INR 128.80 crore, with bids closing by the end of January 2025. The project is expected to be completed within four years.Read more