20 Jun 2023

Chintels Paradiso residents are grappling with looming eviction threats as the developer allegedly demands the termination of their temporary accommodation within a week. This move comes amidst ongoing issues with structural defects that led to a major collapse in February 2022. With half of the 180 affected families yet undecided on the compensation offer, and the recent order for residents of Tower G to vacate, the crisis at the residential complex has intensified. As residents battle housing rights and safety concerns, the situation necessitates urgent attention from both the developer and authorities.Read more

20 Jun 2023

In Gurugram, structural audit firms are nearing completion of visual inspections for serious construction defects in over 70 high rise societies. With 90% of the surveys complete, the district administration prepares to select 15 societies for detailed auditing based on the findings. This effort follows a tragic building collapse last year, highlighting a commitment to enhancing safety measures and addressing construction flaws across the city's residential societies.Read more

20 Jun 2023

In a recent development, the Coimbatore Corporation took decisive action by sealing a building situated on a 12-cent OR land, which had been unlawfully rented out to a private individual for commercial purposes. Under the leadership of Assistant Town Planning Officer A Babu, a dedicated team was responsible for executing the operation. Not only did they seal the building, but they also successfully retrieved the land, valued at a staggering 2.25 crore.Read more

PNT Reporter

19 Jun 2023

The Nashik Municipal Corporation (NMC) has issued a warning to builders in the city, instructing them to adhere to safety guidelines and exercise caution while carrying out excavation work during the monsoon season. The NMC's action comes after a road in Govind Nagar area suffered partial collapse last year due to excavation activities, causing disruptions in vehicular movement. In response, the NMC has written to real estate organizations, including CREDAI and NAREDCO, requesting them to inform their members about the need for extra precautions during rainy season construction activities.Read more

PNT Reporter

19 Jun 2023

Delhi Development Authority (DDA) has raised concerns over the delay in laying water and sewer lines at the Jailorwala Bagh rehabilitation housing project for slum dwellers. In a letter to Lieutenant Governor V Saxena, DDA alleged that the project's inauguration and house allotment were hindered due to the Delhi Jal Board's (DJB) delayed approvals. The absence of a water and sewer network has caused significant delays. Additionally, DDA highlighted the reliance of Kalkaji rehabilitation project residents on water tankers due to the lack of a regular water supply by DJB.Read more

PNT Reporter

19 Jun 2023

According to property consultancy Anarock, the average size of newly launched apartments in India's major cities has seen a significant increase, with a 5% annual surge during the first quarter of 2023. This reflects the evolving real estate market, where developers are catering to the rising demand for larger living spaces. Among the cities, Delhi-NCR experienced the most prominent surge, with average flat sizes expanding by 50%. The trend signifies a shift from previous preferences for compact homes, driven by affordability and millennial lifestyle trends.Read more

PNT Reporter

16 Jun 2023

The Income Tax Department's Intelligence and Criminal Investigation Wing has launched an extensive probe into two tehsil offices in Gurugram over non-disclosure of property registry data for the past five years. Prior irregularities include arrests of officials accepting bribes, misrepresentation of property types, and unauthorized issuance of 1,200 land registries. The investigation highlights the necessity of transparency and stringent oversight in land registry processes to ensure public interest and administrative accountability.Read more

PNT Reporter

16 Jun 2023

Kaveri 2, the new property registration system in Karnataka, is currently facing severe backlash due to frequent technical glitches. The once-revolutionary platform has caused a major slowdown in property registrations, with only 25% of the normal volume being processed daily. These ongoing issues have alarmed revenue officials and frustrated the public. Despite the initial hurdles, district registrar Pavan Pandit urges the public and stamp vendors to embrace the new system, assuring that these teething problems will be addressed promptly.Read more

PNT Reporter

16 Jun 2023

Real estate prices in Raigad have spiked due to a monopoly in the minor minerals market, increasing construction costs by 200 INR per sqft. A company linked to a Thane leader's family allegedly controls this market, pledging extra royalties to the government. This unethical practice prompted a wave of complaints, with no significant resolution yet. The local administration has pledged to revisit the issue as homebuyers await an intervention to counter this unchecked exploitation of resources.Read more

PNT Reporter

16 Jun 2023

A dramatic rise in property prices is gripping Indian metropolises, with 43 of the top 50 cities experiencing a significant upswing in the last quarter of FY 2022-23. According to the National Housing Bank, prices peaked at an 11% increase in several urban areas, led by Kolkata. In the midst of this, the Reserve Bank of India's decision to hold the repo rate steady at 6.5% offers some relief to prospective homebuyers, assuring stable Equated Monthly Installments. As real estate volatility escalates, potential investors are advised to tread cautiously.Read more