18 Jul 2023

Former Congress leader Rahul Gandhi is reportedly preparing to relocate to a three-bedroom residence in Nizamuddin East, South Delhi, previously owned by late Delhi Chief Minister Sheila Dikshit. This move follows his disqualification from the Lok Sabha and subsequent eviction from his official bungalow. Gandhi's new home, in contrast to his previous Lutyens Delhi bungalow, is a modest dwelling overlooking the historic Humayun’s Tomb. The decision comes despite the Congress party's ongoing efforts to challenge his conviction at the Supreme Court.Read more

18 Jul 2023

SEBI, the capital markets regulator, plans to auction 22 properties associated with Bishal Group companies and NVD Solar to recover funds that were illegally collected from investors. The auction, scheduled for August 14, includes properties such as land parcels, flats, and a residential building located in West Bengal. Interested bidders are advised to conduct due diligence before submitting their bids. The companies in question had raised funds without complying with regulations, and SEBI's actions aim to protect the interests of deceived investors.Read more

18 Jul 2023

The Brihanmumbai Municipal Corporation (BMC) has proposed collaboration with the Maharashtra Housing and Area Development Authority (MHADA) to tackle unauthorized constructions in Mumbai. The BMC seeks to establish joint teams for inspections, as MHADA holds the authority for granting repair permissions. The proposal emerged due to difficulties faced by BMC officials when investigating complaints about unauthorized constructions in cessed buildings.Read more

18 Jul 2023

Indore's newly-established Metro line has sparked a dramatic surge in the local real estate market. With property values in regions adjacent to the metro, including Super Corridor, Indore-Ujjain Road, and Rau, soaring exponentially, the demand for commercial and residential properties is at an all-time high. This growth has spurred a slew of new developments, particularly in areas offering room for expansion. As the metro network continues to expand, the real estate boom is expected to extend to neighbouring cities, paving the way for potential investors eyeing lucrative returns.Read more

17 Jul 2023

The Municipal Corporation of Gurgaon (MCG) has instructed its engineering wing to conduct a thorough survey of properties in Zone 3 after reports of developers and property owners using potable water for construction purposes surfaced. Residents have complained about the inconvenience caused by builders using potable water for construction, leading to reduced water pressure and inadequate supply for the community. The MCG recognizes the severity of the problem and plans to take strong action against those found using potable water for construction.Read more

17 Jul 2023

The Mumbai Municipal Corporation (BMC) has unveiled plans to revamp fifteen slums located in the suburban areas of the city, aiming to improve living conditions and infrastructure. A budget of Rs 5 crore has been allocated for each slum, with the funds coming from the District Planning Committee (DPC). The renovation plan includes the construction of cement tunnels to consolidate underground utilities and widen roads. The DPC meeting, attended by MLAs representing the suburban areas, approved a budget of Rs 977 crore for various civic projects, including infrastructure improvement, slum rehabilitation, skill development initiatives, and women and child welfare schemes.Read more

17 Jul 2023

Lucknow authorities have successfully collected an impressive amount of Rs 91 crore as CESS, aimed at bolstering the social security measures for construction workers. According to recent reports, these funds will be utilized to provide extensive coverage of social security schemes to approximately 3.85 lakh laborers who are duly registered with the labor welfare board. This significant development was announced by the department last week. With these additional resources, Lucknow aims to enhance the overall welfare and protection of its workers.Read more

15 Jul 2023

An investigation committee in Bengaluru has uncovered 9,736 properties that were illegally registered as A-khata instead of B-khata. The Bruhat Bengaluru Mahanagara Palike (BBMP) has decided to revert these properties back to the B-khata registry. The issue came to light following a complaint by a former councillor, prompting the formation of a review committee. Detailed reports were prepared by revenue officials and submitted in June, revealing the extent of the illegal registrations. The BBMP plans to take appropriate action against the revenue officials involved. Moving forward, the committee will scrutinize subdivision-wise reports to address the issue of illegal A-khatas.Read more

15 Jul 2023

Residents near the Mahagun Millennia project in Crossings Republik have lodged a police complaint against the developer due to concerns over a deep pit on the construction site. The pit, filled with water from recent rains, is causing seepage and endangering nearby buildings' foundations and boundary walls. Sections of the service road and the mall's under-construction wall have already collapsed. The complaint also accuses the developer of constructing a mall without necessary approvals and violating regulations. A committee has been formed to investigate the case, and the Ghaziabad Development Authority has requested the filing of a First Information Report (FIR) against the developer and Crossings Infrastructure Pvt Ltd (CIPL) for illegal construction activities.Read more

14 Jul 2023

Office leasing in Mumbai reached 1.3 million square feet in Q2 2023, as per CBRE South Asia Pvt. Ltd's latest report. The uptake was largely driven by the BFSI, technology, and engineering & manufacturing sectors. Notably, mid-sized transactions dominated the leasing scene. Nationwide, leasing activity grew by 12% Q-o-Q. Domestically, flexible space operators, technology firms, and BFSI led the absorption. Despite a slight downturn in H1 2023, the resilient demand underscores the positive trajectory for India's commercial real estate sector.Read more