14 Aug 2023

Dharavi residents in Mumbai rallied on Wednesday, calling for the Maharashtra government's direct involvement in the area's redevelopment. Joined by the Aam Aadmi Party and local activists, protestors emphasized the need for an updated housing survey. Opposition to the Adani Group, recently awarded the redevelopment contract, was evident. Activists advocate for a Special Economic Zone, emphasizing Dharavi's importance as a hub for small-scale industries. The project, won by Adani Properties, has an estimated revenue potential of Rs 20,000 crore.Read more

14 Aug 2023

Local authorities, along with railway officials and police, have initiated the demolition of approximately 100 houses in Nai Basti, Mathura. Situated near the Shri Krishna Janmasthan, the area has a largely minority population. These houses are accused of unauthorized construction on government land. Despite an ongoing court case, slated for the next hearing on August 21, the demolition continued unabated. Of the 135 identified houses, 60 have already been torn down. The affected families had previously lodged a plea in the civil court after being served notices by the railways, pressing for a response from the concerned authorities.Read more

14 Aug 2023

Goa's Urban Development Minister has greenlit a Geographical Information System (GIS) mapping initiative for urban residences in South Goa, with North Goa's mapping already underway. The GIS project aims to address revenue losses and plug leaks in municipal areas. GIS combines location data with descriptive information, aiding property tax assessment, recovery, and data availability. Other Indian entities, like Gurugram Metropolitan Development Authority and BMC Mumbai, have utilized GIS for water body identification, flood-prone area detection, and property tax collection enhancement. A recent Uttar Pradesh example led to a doubled property tax base and an additional 500 crore revenue.Read more

12 Aug 2023

In Mhalunge Ingale Chakan, Naiknavare Developers is implementing transformational projects, such as infrastructure upgrades and community services. These initiatives highlight their dedication to sustainable living environments and community welfare, improving the lives of the villagers and advancing the area. Naiknavare Developers is having a significant impact on the Mhalunge Ingale Chakan neighborhood by putting an emphasis on infrastructural improvements, healthcare, and education.Read more

12 Aug 2023

Once a prized start-up valued at $47 billion, WeWork now faces potential bankruptcy, with its valuation nose-diving to $446.8 million. After a controversial 2019 IPO filing, its business model has come under scrutiny, especially amidst the pandemic-driven shift to hybrid work. Despite attempts at financial restructuring and cost-saving measures, leadership changes and strategic challenges persist. The company’s future remains uncertain as it grapples with liquidity issues and seeks to rebuild its tarnished image.Read more

12 Aug 2023

According to recently published reports, in the past five years, Delhi-NCR's residential property values have skyrocketed. Factors like regulatory reforms, governmental policies, and infrastructural developments drive this growth. Gurgaon leads with a 20.3% YoY increase, while Noida and Greater Noida follow closely with 20.2% and 17.6% respectively. Key sectors in these regions have seen substantial price appreciation, thanks to improved connectivity and new employment zones. The data suggests a promising future for the Delhi-NCR real estate sector.Read more

12 Aug 2023

Builder Rajan Dhruv of Orbit Ventures evaded authorities, hiding in a Pali Hill flat for two hours as Economic Offences Wing (EOW) and Khar police aimed to serve a notice in an Rs 11.76-crore cheating case. Despite doorbell issues, a key maker eventually opened Dhruv's door. A 57-year-old woman had lodged a complaint against Dhruv and other directors at Khar police station. EOW took charge of the investigation. Dhruv allegedly took 11.76 crore from the complainant and failed to repay, offering a promised commercial unit instead, but not delivering. Charges include criminal breach of trust.Read more

12 Aug 2023

Tata Realty and Infrastructure Ltd. (TRIL), the real estate arm of the Tata Group, is set to acquire a 25.3-acre land parcel in Bengaluru for approximately Rs 986 crore. The strategic acquisition, located in Doddanekundi Village near the IT hub of Whitefield, underscores TRIL's expansion plans. The company aims to introduce 5 million square feet of office space through two IT parks in Hebbal and Whitefield, requiring an investment of Rs 4,000 crore. This move aligns with the trend of developers engaging in smaller land transactions for diverse developments, showcasing the dynamic nature of India's real estate market.Read more

11 Aug 2023

An ongoing independent survey directed by the Meerut divisional commissioner has uncovered around 5,000 multi-storey buildings erected on single-use plots within Vasundhara township. The committee's investigation, triggered by complaints of land use violations received by the DC's office, aims to address these concerns. The forthcoming report will be submitted to the state government for action, possibly involving extensive demolitions,. Residents have expressed dismay over the impact on infrastructure, while questions arise about regulatory oversight. Officials suggest banks verify legality before granting home loans.Read more

11 Aug 2023

Real estate prices in Mokila, neighbouring Kokapet, have surged remarkably. The Telangana government's auction of a 165-acre layout in Mokila village resulted in three times the market price per square yard. The auction, managed by the Hyderabad Metropolitan Development Authority (HMDA), saw bids reaching impressive levels, from Rs 1.05 lakh to Rs 72,000 per square yard. Out of 50 plots, 48 were successfully sold, amassing Rs 121 crore in revenue. Mokila's prominence is underlined by this achievement, where historically open plots were sold at about Rs 30,000 per square yard.Read more