PNT Reporter

06 Jun 2023

CBRE South Asia Pvt. Ltd is set to fortify its Consulting and Valuation (C&V) business, particularly in government advisory. Over the next two years, the company plans to double its advisory team size and expand to over 20 new cities. This strategic expansion accompanies an enhancement of its portfolio in infrastructure, healthcare, and education sectors. CBRE's C&V division has maintained a consistent growth rate of 25% Y-o-Y for the past five years and now manages a portfolio worth $25bn. With these steps, CBRE reaffirms its commitment to provide superior real estate solutions and anticipates a 50% growth in this business line in the next two years.Read more

PNT Reporter

06 Jun 2023

The Indore district administration has served notices to 53 occupants of properties near Patnipura Square to substantiate their land ownership claims. This action follows a rival claim by the Madhya Pradesh State Road Transport Corporation (MPSRTC) over the disputed land. With the upcoming hearing scheduled for June 5, the occupants, some of whom have been on the land for generations, face a precarious situation. Meanwhile, MPSRTC has already allotted funds for developing a shopping complex on part of the said land, intensifying the controversy.Read more

PNT Reporter

06 Jun 2023

Greater Noida Industrial Development Authority (GNIDA) has unveiled a scheme offering 22 commercial plots valued at Rs 1,100 crore for public auction. This initiative, aimed at stimulating the region's economy and providing residents with convenient access to everyday necessities, allows potential investors to pay in flexible instalments. The plots, intended for the development of commercial complexes, are located in strategic sectors across the city. Online applications for the scheme are open until June 19.Read more

PNT Reporter

06 Jun 2023

Maharashtra's Chief Minister, Eknath Shinde, has directed civic bodies to conduct independent safety audits of hazardous buildings through esteemed engineering institutes. The decision followed a report by the BMC revealing only a fraction of unsafe buildings had been vacated. In a monsoon preparedness meeting, Shinde emphasized life preservation and relocation provisions for displaced families. The mandate covers multiple aspects, from leveraging modern technology in rescue operations to infrastructure maintenance, highlighting the government's comprehensive plan to ensure public safety during the upcoming monsoon season.Read more

PNT Reporter

06 Jun 2023

Last week, Chief Minister Bhagwant Mann announced that Punjab will digitize all land records to improve public access and streamline administrative processes. This initiative will also include making these records available in simple Punjabi for easy readability. Mann emphasized efficient record maintenance across all levels and advocated for faceless bureaucratic procedures for enhanced transparency. The early completion of the revenue department's computerization projects is also on the agenda as part of this digital governance strategy.Read more

PNT Reporter

05 Jun 2023

A recent survey conducted by fire officials in Ghaziabad has revealed that approximately 700 buildings, including hospitals, malls, housing societies, and hotels, are operating without proper firefighting equipment and the required no-objection certificates (NOCs) from the fire department. Nearly 42% of the inspected buildings lacked the necessary NOCs and over 40% of the buildings with fire NOCs lacked standard fire-fighting arrangements. The Chief Fire Officer has issued show-cause notices to the owners of these buildings, directing them to install proper firefighting equipment within a month.Read more

PNT Reporter

05 Jun 2023

Manoj Joshi, the Housing and Urban Affairs Secretary, recently advocated for an efficient evaluation mechanism to distinguish between reliable and poor-performing real estate developers. At a CII conference, he suggested this system would enable easier access to bank credit, reducing dependence on customers' prepayments. Highlighting cash flow issues due to inadequate bank financing for contractors and vendors, Joshi urged the sector to collaborate with the Reserve Bank of India and banking system to establish preventive measures against excessive bad lending.Read more

PNT Reporter

05 Jun 2023

In anticipation of the impending monsoon season, the Brihanmumbai Municipal Corporation (BMC) has unveiled a list of 226 buildings classified as "extremely unsafe", urging residents to relocate. Majority of these structures are in the western and eastern suburbs. The list, accessible on the BMC's official portal, was a step towards public safety. Furthermore, the Municipal Commissioner had ordered the discontinuation of water and electricity supplies to these buildings earlier this month, stressing the need for evacuation and alternative accommodations.Read more

PNT Reporter

05 Jun 2023

Amid growing concerns over building safety, Gurugram's Deputy Audit Commissioner, Nishant Yadav, has launched the second phase of a critical structural audit for 15 residential societies. These buildings, selected from a list of 60 high-risk projects, will undergo a comprehensive on-site inspection to identify structural defects. The audit follows the tragic collapse at the Chintels Paradiso apartments last year. The cost of these audits will be shared equally between residents and developers, although if complaints are confirmed, developers will bear the full cost. This move emphasizes the city administration's commitment to ensuring resident safety.Read more

PNT Reporter

05 Jun 2023

The government of Karnataka plans to capitalize on the thriving real estate industry by raising the guidance value and promoting online property registration. The stagnant guidance value, unchanged since 2019 due to the pandemic, may be revised upward to increase government earnings by approximately 20%. The government has also launched Kaveri 2.0, a web-based application for property registration, in multiple sub-registrar offices. These measures aim to streamline the registration process and leverage the positive momentum in the real estate sector for increased revenue generation.Read more