22 Jul 2023

The Energy Efficiency Services Ltd (EESL) is supporting Andhra Pradesh's ambitious energy efficiency initiative, the 'Navaratnalu – Pedalandariki Illu' program, by providing cost-effective energy-efficient appliances to beneficiaries on a voluntary basis. The state housing department aims to make this program the largest energy efficiency initiative in the country, promoting sustainable development practices and reducing electricity bills for residents. The 'Jagananna Colonies' housing scheme too is making remarkable progress, with the state government providing loans and allocations for housing units and water supply.Read more

22 Jul 2023

The National Real Estate Development Council (NAREDCO) has launched its Delhi chapter to uplift and revitalize the city's real estate sector, which has faced development challenges due to various restrictions. The chapter aims to foster collaborations among stakeholders, promote transparency in building affordable housing through land pooling, and advance strategic infrastructure development. With existing chapters in several states, the addition of the Delhi chapter signifies a commitment to unlocking the city's growth potential and bringing positive transformations to its real estate landscape.Read more

21 Jul 2023

In a landmark move, the Maharashtra Government has officially handed the monumental Dharavi Redevelopment Project to the Adani Group. The Rs 20,000 crore project focuses on rebuilding the Dharavi slums, in close proximity to Mumbai's BKC business district. Adani Properties, after winning a competitive bidding process, has a seven-year timeframe to rehabilitate over 650,000 residents. This transformative project promises to reshape one of the world's most densely populated slums into a well-planned urban sector.Read more

21 Jul 2023

Maharashtra is set to transform its property registration system, integrating Unique Land Parcel Identification Number (ULPIN) with geographical mapping facilitated by rovers starting August 2023. This initiative, aimed at increasing precision and transparency in land measurements, will first roll out in Washim and Nandurbar before being introduced to all districts. This integration will provide citizens with detailed map-based geographical coordinates along with their property's ULPIN. This innovative move aligns with the central government's push for ULPIN or Bhu-Aadhaar integration in land governance across India.Read more

20 Jul 2023

The Maharashtra state government is taking steps to regularize slums on private lands within the state. The principal secretary of the urban development department has directed the Nagpur Municipal Corporation (NMC) to submit a proposal for land use change and acquisition of 58 notified slums. The government aims to grant ownership rights to slum-dwellers and resolve issues related to non-notified slums on private lands. The process of regularization is being streamlined in the proposed Smart City area, offering two options for plot and house regularization. This initiative has the potential to improve living conditions, provide security and stability to slum-dwellers, and enhance efficiency in the regularization process.Read more

20 Jul 2023

Bengaluru's civic body, the Bruhat Bengaluru Mahanagara Palike (BBMP), has announced plans to extend its 'Road Reader' initiative, adding property tax data to the existing QR code system on street nameboards. This innovative measure is intended to boost awareness about property tax payments and enhance collection rates. BBMP's Special Commissioner (Finance) Jayaram Raipura said the initiative would "nudge defaulters" and promote civic duty, with a Rs 1.5 crore investment planned to expand the project.Read more

20 Jul 2023

The NMC has successfully sold Plot No. 2 of the Orange City Street Project, earning Rs 51.5 crore and bringing the total revenue from the project to Rs 207 crore. The buyer has already commenced work at the site, which was auctioned six months ago for Rs 13,166 per square foot. NMC has now floated an EoI for the sale of Plot No. 4, expecting to fetch Rs 48–50 crore. With 17 more plots yet to be auctioned, the project has become a highly profitable venture for the civic body. The NMC also plans to auction three additional plots in the near future.Read more

20 Jul 2023

In a display of frustration, residents of Gurugram's Sushant Lok and Sector 40 took to the streets, armed with banners and slogans. Convening at Rajpath Marg, the protesters united to form a human chain. They embarked on a march towards the Millennium City metro station, making their demands known. The protest had an immediate impact, causing disruptions to the flow of traffic in the area. This demonstration was held to draw attention to their concerns and advocate for change in the face of neglected upkeep.Read more

19 Jul 2023

Coimbatore Police in India will launch a new software system designed to enhance security and management in mansions and hostels. The software aims to centralize resident information, provide real-time monitoring through CCTV integration, and enable quick response to security breaches. It will streamline administrative tasks, facilitate online payments, and offer a grievance redressal mechanism. The initiative reflects the police department's commitment to leveraging technology for public safety, ensuring a safer and more secure environment for residents while improving law enforcement effectiveness.Read more

19 Jul 2023

ICRA, a credit rating agency, predicts a positive outlook for retail mall operators in FY2024. They expect an 8-10% year-on-year increase in rental income supported by healthy retail sales and contracted rental escalations. Retail trading values are anticipated to improve by 4-5%, with strong sales in categories such as jewellery, electronics, and apparel. Rental rates are projected to rise by 3-4% due to higher contracted escalations and lease renewals. Despite healthy leasing activity, vacancy levels are projected to remain between 18-19% in FY2024 due to the high new supply of retail space.Read more