PNT Reporter

30 Mar 2023

The Yamuna Expressway Industrial Development Authority (YEIDA) is exploring the option of a one-time settlement scheme to recover over Rs 4,450 crore in dues from 14 builders, which could pave the way for at least 10,000 registries. The dues include Rs 2,753 crore in land premium, Rs 1,408 crore in additional compensation for farmers, and Rs 296 crore in lease rent. If the scheme is implemented, it could facilitate the completion of projects, issuance of occupancy and completion certificates, and execution of registries, which has been a cause for concern for thousands of homebuyers across the National Capital Region.Read more

PNT Reporter

30 Mar 2023

On the occasion of Bihar Diwas, several programmes were organized in Saran, Bihar. The District Magistrate Rajesh Meena distributed land papers to 194 landless persons of Sadar, Marhoura, and Sonepur subdivisions and greeted people with good wishes on this historic day. The distribution of land papers to landless individuals is an important step towards addressing the issue of landlessness in the state. The initiative will also help in reducing poverty and providing employment opportunities to the beneficiaries.Read more

PNT Reporter

29 Mar 2023

An expert committee has requested reports from the chief town planners of various areas in Haryana regarding the approval of building plans for stilt-plus-four-floor buildings in residential areas. The committee was established on March 16 to examine the complaints and concerns raised by various residents and RWAs on the matter, and to assess the pros and cons of such approvals granted in the past and its implications.Read more

PNT Reporter

29 Mar 2023

Members of the State Housing Federation, with assistance from the Cooperation Department, have introduced a mobile phone application to assist housing societies in understanding the process of performing conveyance deed or deemed conveyance. According to state officials, out of the 1.15 lakh registered cooperative housing societies in Maharashtra, more than 60,000 still need to perform conveyance deed or deemed conveyance. The ‘Housing Co-op Master’ app is available for free download from the Google Play Store.Read more

PNT Reporter

29 Mar 2023

The Greater Visakhapatnam Municipal Corporation (GVMC) has been identifying unsafe buildings every year and serving notices to owners to renovate if the building is structurally sound. However, many owners turn a deaf ear to the notices due to lack of financial means or emotional attachment to the buildings. The recent building collapse in Ramajogipeta that killed three people has prompted the GVMC to take action by serving notices to owners of old buildings.Read more

PNT Reporter

28 Mar 2023

The Noida Authority, which is responsible for the development and management of Noida, a city in India, has recently formed a five-member environmental panel to monitor sewage treatment plants (STPs) installed in group housing societies. The panel will ensure that the STPs are functioning properly and not causing any harm to the environment. The Authority has hired a Delhi-based company to inspect the STPs and provide expert guidance to the panel.Read more

PNT Reporter

28 Mar 2023

HDFC Ltd, India’s largest mortgage lender, may seek intervention from the Supreme Court to challenge the decision made by the National Company Appellate Tribunal (NCLAT) allowing the sale of the IL&FS headquarters in Mumbai to Canadian investor Brookfield. The sale was approved despite HDFC's objection, and the matter is pending before the court. The sale includes 12,651.95 square meters of land at Plot No. C-22, in the G Block of Bandra Kurla Complex together with the IL&FS Financial Centre.Read more

PNT Reporter

28 Mar 2023

Last week, the Ludhiana Municipal Corporation (MC) conducted a demolition drive which resulted in the razing of five illegal buildings in the city. The action was taken against two residential and one commercial building in Kunj Vihar, one industrial construction in Noor Villa, and one commercial construction on Malhi road. The MC has been conducting drives against illegal constructions, and in this case, the owners were given warnings to get their building plans approved, but they failed to comply.Read more

PNT Reporter

28 Mar 2023

All stakeholders of the Rajesh Lifespaces Group have approved of the take over their hotels in Mumbai by the Rare Asset Reconstruction Co. and Naman Group consortium. Earlier this month, lenders submitted the plan for approval to the National Company Law Tribunal (NCLT). The Rare-Naman Group partnership was the favoured bidder for lenders after making an upfront cash offer of Rs.461 crore and a further Rs.31 crore in equity.Read more

PNT Reporter

24 Mar 2023

The Greater Noida Industrial Development Authority (GNIDA) has announced a plan to allocate ten builder plots across eight sectors of the city. These plots vary in size, ranging from 12,500 square metres to over 404,172 square metres, and are located in Sector 1, 10, 12, Mu, Eta 1, Pi, Pi 1, and Pi 2. The reserve price for these ten builder plots ranges between Rs 35,000 per square metre and Rs 46,200 per square metre. The e-auction's date and time are yet to be announced. However, interested applicants must register on the portal by April 3 and deposit a non-refundable and non-adjustable processing fee to participate in the e-auction.Read more