When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
16 Jun 2023
The insolvency and bankruptcy cases of real estate companies have been making steady progress in terms of resolutions, despite facing numerous complexities, including a large number of troubled homebuyers. Experts believe that the government's potential changes to the code, allowing resolutions based on the nature of projects instead of a rigid framework for the entire property sector, could further enhance performance in this regard.Read more
15 Jun 2023
Web Werks and Iron Mountain Data Centres have joined forces to expand their data centre campus in Rabale, Navi Mumbai. The collaboration aims to establish the third facility, MUM-3, which will be operational in the second half of 2025. MUM-3 will have a capacity of 32 megawatts and be designed as a Tier III data centre. The expansion also includes the approval for an extra power substation to support the increased capacity. Web Werks and Iron Mountain have strategic plans to establish data centres in Bangalore and Hyderabad as well.Read more
15 Jun 2023
The Union Housing and Urban Affairs Ministry has extended the implementation deadline for the Smart City Mission until June 2024, causing concerns among the residents of Dehradun. The second phase of the Smart City Mission, launched in 2017 with a budget of over Rs 1,400 crore, includes Dehradun as part of the scheme. However, residents have been complaining about the poor execution of the Smart City projects, leading to delays, disorganization, and inconvenience. While government representatives insist that projects are progressing smoothly, residents argue that simply installing a few smart features is not enough to create a smart city.Read more
15 Jun 2023
In Ahmedabad, low engagement with the Gujarat Regularization of Unauthorized Development Act (GRUDA) 2022 has prompted new regulations mandating unanimous consent from society members for regularization applications. Of the 36,349 applications received, only 2% have been approved, predominantly for residential constructions. The need for total consensus, owners bearing parking provision costs, and high impact fee regulation costs are primary deterrents, slowing the pace of regularization. The AMC is navigating these challenges as it reshapes the city's urban development.Read more
14 Jun 2023
Haryana Chief Minister Manohar Lal Khattar has announced the regularization of unauthorized colonies with certain criteria in the state, providing legal recognition and access to amenities for residents. Additionally, a property identification correction campaign has been launched to assist citizens in rectifying any errors in property details. The government is conducting a comprehensive survey to collect data on families, which will help in designing targeted welfare schemes. The reinstatement of invalidated ration cards and ensuring benefits for financially vulnerable households are among the other initiatives mentioned by the Chief Minister.Read more
14 Jun 2023
The Lucknow Development Authority (LDA) cracked down on illegal constructions in zone 5, sealing an illegal hotel, row houses, and five unauthorized structures during an anti-encroachment drive. The LDA took action against a two-storey building constructed without approval, a three-storey hotel without necessary permits, and four row houses violating construction norms. These measures reflect the LDA's commitment to maintaining the integrity of urban development, promoting adherence to building regulations, and ensuring a safe and sustainable environment in Lucknow.Read more
14 Jun 2023
In an escalating urban nightmare, 298 illegal colonies have sprung up across Gurgaon and neighboring areas in the past 17 years. Following a directive from the Director-General, 14 district town planners (DTPs) are under investigation for their failure to prevent these illicit settlements. The Haryana Government is now mulling over the legalization of these colonies, subject to specific criteria. As the probe continues, it highlights the enforcement inadequacies and the urgent need for more effective urban planning strategies.Read more
14 Jun 2023
U.N.-Habitat warns that the global urban slum population is set to triple, reaching 3 billion by 2050, fueled by rapid urbanization and an escalating housing crisis. Eight countries, including Nigeria, the Philippines, and India, are expected to bear half of this increase. Housing scarcity is now a global problem, with even developed countries like the US, Britain, and Germany facing severe shortages. The Kenyan President's strategy to build 250,000 affordable homes annually signals the urgent need for governments worldwide to prioritize housing in their development plans.Read more
14 Jun 2023
In Gurugram, the Municipal Corporation (MCG) conducted correction camps to address inaccuracies in the property tax data. A survey conducted by a private organization revealed that the newly generated property IDs contained inaccurate information, causing residents to express dissatisfaction. The local government has been slow to correct the inconsistencies, leading to multiple complaints from residents who are unable to pay their property taxes. Most services for citizens, including addressing grievances and creating property IDs, have been removed from the online system, leaving the No Dues Certificate (NDC) portal as the primary channel for concerns.Read more
13 Jun 2023
In accordance with the CAQM directives, the Haryana State Pollution Control Board is undertaking a city-wide survey in Gurugram to ensure larger construction sites are adhering to mandatory dust pollution measures. Shockingly, of the estimated 3,000 sites, only 5% have registered on the government's dust pollution control portal. Sites found violating these regulations will face legal action and penalties. This initiative underscores the state's commitment to tackling pollution.Read more