PNT Reporter

17 Dec 2024

The Andhra Pradesh state government has announced plans to develop exclusive townships with superior infrastructure for middle and high-income groups (MIG and HIG) in urban areas. Kurnool, Ananthapuram-Hindupuram, and Kadapa will be the first regions to implement these projects. Urban development authorities, guided by joint collectors, will identify suitable land and ensure essential infrastructure- roads, water, electricity, and drainage-is ready before housing begins. Municipal bodies are tasked with adopting self-sustaining methods to fund these projects. By fostering growth and improving urban amenities, the initiative aims to address housing shortages and boost economic development in key urban regions.Read more

PNT Reporter

17 Dec 2024

Landowners who provided land for Belagavi Urban Development Authority's (BUDA) Residential Project Scheme No. 61 in Kanabaragi have launched an indefinite strike, demanding the project's foundation stone be laid during the winter session. Despite a 50:50 land-sharing agreement signed in 2007, development has stalled due to legal and technical hurdles, depriving farmers of income while real estate prices surge. Frustrated by years of inaction, landowners have escalated their protests and submitted a memorandum to the Urban Development Minister. Their strike underscores the urgent need for BUDA to fulfill its promises and address the delays during the upcoming legislature session.Read more

PNT Reporter

17 Dec 2024

After a 34-month ordeal, the final tower of Chintels Paradiso in NCR has been deemed unfit for habitation, completing the assessment of all nine towers. Severe structural flaws, including corroded reinforcement and substandard concrete, make demolition inevitable. Originally sold for INR 75 lakh-INR 1 crore, the 532 flats face demolition akin to Noida's Supertech twin towers. Following the 2022 Tower D collapse that caused two deaths, Chintels India offered INR 40,000 for relocation and buyouts at current market value. Residents, frustrated by forced evacuations, demand compensation and rebuilding assurances. The case underscores the urgent need for stricter construction regulations to protect homebuyers.Read more

PNT Reporter

16 Dec 2024

The Delhi Development Authority (DDA) has partnered with fintech firm Ambak to simplify access to affordable housing loans. Under the MoU, DDA will share details of its housing projects, including EWS, LIG, MIG, and HIG categories, while Ambak connects buyers with over 40 lending partners such as banks, NBFCs, and HFCs. Ambak will provide loan facilitation, financial literacy sessions, and marketing support at no cost, deploying a project management team to streamline loan processing and disbursement. This collaboration enhances DDA's 'Sasta Ghar' scheme, offering over 2,600 affordable flats in Narela, Rohini, Manglapuri, Siraspur, and Loknayakpuram, boosting accessibility and convenience.Read more

PNT Reporter

16 Dec 2024

Uttarakhand is constructing 16,000 affordable homes for low-income families under the PMAY Housing Scheme, led by Chief Minister Pushkar Singh Dhami and Prime Minister Narendra Modi. The initiative, aligned with the Antyodaya vision, provides "pucca" houses for families with annual incomes below INR 3 lakh. The Uttarakhand Housing Development Council (UHDC) and Mussoorie Dehradun Development Authority (MDDA) are spearheading the effort, with private investors building modern homes at INR 6 lakh per unit. Subsidies of INR 3.5 lakh reduce costs for beneficiaries to INR 2.5 lakh. With 1,760 homes handed over and all projects slated for completion by March 2025, the initiative ensures secure, sustainable housing for marginalized families.Read more

PNT Reporter

16 Dec 2024

In a historic move, the Maharashtra Housing and Area Development Authority (MHADA) is diversifying into various housing solutions, including rental housing, student accommodations, women's hostels, shared units, studio apartments, industrial housing, and old age homes. This shift is in line with NITI Aayog's ambitious plan to boost the Mumbai Metropolitan Region's (MMR) GDP to USD 300 billion by 2030. A recent workshop highlighted the roadmap for transforming MMR into a growth hub, with seven key pillars, including affordable housing and sustainable infrastructure. MHADA aims to deliver 30 lakh affordable units by 2030, primarily through slum rehabilitation and housing schemes.Read more

PNT Reporter

16 Dec 2024

Actor Shah Rukh Khan's iconic sea-facing residence, Mannat, located in Bandra, is set to expand with plans to add two more floors to the existing annexe. The actor's wife, Gauri Khan, submitted an application to the Maharashtra Coastal Zone Management Authority (MCZMA) in early November, seeking approval to add 616.02 square metres of space. This request follows a 2019 amendment to Coastal Regulation Zone (CRZ) rules, enabling increased construction in the area. The project, estimated to cost INR 25 crore, is awaiting approval from a committee headed by Pravin Darade. The expansion will add a seventh and eighth floor to the six-storey structure, which currently features two basements and a ground floor.Read more

PNT Reporter

13 Dec 2024

India's seven major primary housing markets, which include cities like Delhi-NCR, Mumbai, and Bengaluru, are expected to witness the sale of 305,000 apartments worth INR 5.10 lakh crore by the end of 2024. Housing sales have remained robust, reaching a new nine-month peak in 2024, with almost 230,000 homes sold. JLL India expects that the festive season, along with ongoing demand, will result in sales for the October-December quarter potentially matching or exceeding the average of previous quarters, thus bringing the total sales for the year to 305,000 units, valued at INR 510,000 crore.Read more

PNT Reporter

13 Dec 2024

Housing Minister Ponguleti Srinivas Reddy recently announced plans to develop affordable housing along Hyderabad's Outer and Regional Ring Roads, targeting middle and lower-middle-class families. Projects are proposed on 100-acre plots along key highways. Under the Indiramma housing scheme, beneficiary identification will prioritize vulnerable groups like widows and disabled individuals. A new app will streamline the process, and the Centre will co-fund units with the state covering the remainder. The government aims to complete 60,000 pending 2BHK units in GHMC, with INR 197 crore allocated for minor works. These initiatives emphasize inclusive development and transparency.Read more

PNT Reporter

13 Dec 2024

The Noida Authority has cancelled the allotment of 13,961 square meters of land in Sector 143 to Docile Buildtech Pvt Ltd, a subsidiary of Logix Group, for non-payment of INR 130 crore in dues. Despite an initial payment of INR 3.2 crore, the company failed to settle the remaining amount, which accrued significant penal interest. The land, valued at INR 450 crore today, remained unused for six years. Noida Authority plans to re-allot the plot to recover dues and has filed a case with the NCLT and a complaint with the EOW against Logix Group. This action underscores the need for stricter compliance and accountability in real estate.Read more