PNT Reporter

28 Apr 2023

The Haryana government has introduced 'The Haryana Disposal of Rented Government Properties Policy 2023' to sell its properties that have been leased or rented by private entities for 20 years or more. The policy applies to properties up to 100 sq yards and charges will vary depending on possession duration. The aim is to generate revenue and utilize the properties for public welfare projects.Read more

PNT Reporter

28 Apr 2023

The Tamil Nadu Urban Habitat Development Board (TNUHDB) has initiated the demolition of dilapidated tenements on New Avadi Road, Chennai, to make way for modern, multi-storied residential buildings. The new complex will feature improved infrastructure, a park, and eco-friendly amenities. TNUHDB's systematic approach to reconstruction has already completed 11,490 tenements, with 6,862 currently underway. The revitalization of the neighbourhood is expected to spur economic growth and improve living conditions for thousands of residents, while promoting sustainable living and community engagement in the area.Read more

PNT Reporter

28 Apr 2023

Office space absorption in India's major cities declined by 11% YoY in Q1 2023, with Bengaluru, Delhi-NCR, and Chennai accounting for two-thirds of demand. Hyderabad was the only city with strong YoY leasing activity. The flexible workspace is the leading absorption driver, with IT-BPM and BFSI sectors as major contributors. New supply infusion decreased by 31% YoY. Despite the decline, experts foresee a gradual pickup in demand due to the resumption of operations and growing Indian economy, with gross absorption estimated to reach 48.5 million sq. ft in 2023.Read more

PNT Reporter

28 Apr 2023

The Department of Town and Country Planning (DTCP) has revised its policy to encourage the construction of low-density and eco-friendly farmhouse colonies on agricultural land. The new policy allows developers to apply for a license for any agricultural land within the city's master plan and caps the number of residents at 25 per acre. To promote eco-friendliness, colonies would need to install solar plants, stormwater recycling systems, sewage treatment plants, waste management facilities, and biodegradable waste recycling facilities.Read more

PNT Reporter

27 Apr 2023

Foreign investors, led by North America and Singapore, have injected $18 billion into the Indian real estate market between 2018 and 2022, accounting for 58% of total equity investments, according to a CBRE South Asia report. Despite pandemic headwinds, the office sector attracted over $13 billion or 40% of total equity inflows. Emerging segments like warehousing, data centres, and co-living spaces have also witnessed growing interest. Over the next two years, investments are expected to remain steady at $16-17 billion, with the office sector continuing to draw the largest share of institutional inflows.Read more

PNT Reporter

27 Apr 2023

The Madurai City Licensed Builders' and City Developers' Welfare Association has called on the Madurai Corporation to expedite building plan approvals and plot regularisations, citing a 40-day backlog affecting builders and construction workers. The delay has stalled new projects and impacted the local construction sector. In response, the corporation has appointed a new official to oversee the town planning department, aiming to address the backlog. The association has also suggested process improvements, such as allowing zonal offices to handle larger plots and implementing a fully online system for regularisations, to support the industry's growth in Madurai.Read more

PNT Reporter

27 Apr 2023

Over 70 residents of Chennai's Metro Zone gated community protested the builder's failure to pay INR 44 lakh in electricity dues. The Residents Welfare Association (RWA) had to cover costs using maintenance funds to avoid power disconnection. The community has also raised concerns about construction quality and safety standards. Residents demand the builder to comply with Real Estate Regulatory Authority (RERA) orders, reimburse the RWA, and address their concerns. Metro Zone officials dispute the amount claimed and assure that the remaining dues will be paid before the end of the month.Read more

PNT Reporter

27 Apr 2023

The Ranchi Municipal Corporation has ordered the demolition of 90 buildings encroaching upon Ranchi's Kanke Dam and Ranchi Lake catchment areas, following a directive from the Jharkhand High Court. The owners of the buildings have been given two weeks to demolish the structures themselves, or the RMC will do so and levy costs against them. Encroachment on catchment areas can lead to water degradation, pollution, and environmental problems. The RMC's action is a step towards preserving the water bodies and protecting public health, but the high court should ensure fairness in the process.Read more

PNT Reporter

26 Apr 2023

The Delhi Development Authority (DDA) recently conducted a draw of lots for 1,093 households in the Jailorwala Bagh JJ cluster, Ashok Vihar, as part of its in-situ rehabilitation project. The initiative aims to provide better living conditions and amenities to JJ cluster residents, with 1,675 EWS flats expected to be ready for possession by July 31. The DDA will subsidize each flat by approximately Rs 24 lakh, making the housing units more affordable for the target population.Read more

PNT Reporter

26 Apr 2023

Following the collapse of a 60-year-old building in the Royapuram zone, the Greater Chennai Corporation (GCC) will re-inspect 387 dilapidated buildings identified in 2022 to ensure public safety. The joint inspection, conducted with the Chennai Metropolitan Development Authority, found that many of these buildings posed a potential danger to residents. The GCC plans to work closely with the Public Works Department to assess structural stability and take necessary action based on scientific evidence. Stricter safety guidelines and regulations, as well as efficient demolition processes, are being considered to improve overall safety in the city.Read more