08 Oct 2024

The Delhi Development Authority (DDA) is enhancing its housing schemes by developing the green spaces and giving a fresh finish to the unsold inventory. Nearly 1,650 out of 9,000 flats from the Sasta Ghar and Madhyam Vargiya Housing Schemes are being sold on a first-come, first-served basis, with a strong demand in areas like Rohini, Narela, and Ramgarh. In Dwarka, over 130 of 169 flats offered through e-auction have been sold. The DDA is also improving infrastructure in Narela, including educational institutions and metro connectivity. The Lieutenant Governor praised efforts to prioritise affordable housing for economically weaker sections.Read more

08 Oct 2024

The Union Cabinet has approved the second phase of the Chennai Metro, a 119-km expansion projected to cost INR63,246 crore. This decision marks a significant breakthrough after months of delays, with the approval process completed in an unprecedented 24 hours. The expansion will add 128 stations and is expected to be operational by 2027, enhancing Chennai's metro network to 173 km. PM Modi and Tamil Nadu CM M K Stalin have expressed their support, highlighting the project's potential to alleviate traffic and foster economic growth.Read more

07 Oct 2024

Prime Minister Narendra Modi virtually inaugurated a 3.68-km section of the Pune Metro from District Court to Swargate, marking the completion of the first phase of the project. In his speech, he criticized the previous Congress-led UPA government for delaying the metro's progress, stating that no work had been done until his administration laid the foundation in 2016. The Prime Minister also launched projects worth INR 11,200 crore and laid the foundation for the metro's extension to Katraj. He emphasized the importance of modernizing Pune's transport and infrastructure to boost urban development and connectivity in Maharashtra.Read more

07 Oct 2024

The Bengaluru Metro's Phase 3 project has commenced, featuring geotechnical investigations critical for determining the placement of pillars and stations across 22 stations. This phase includes the 32.15-kilometre Outer Ring Road segment, known as the Orange Line, and a 12.5-kilometre stretch from Kadabagere to Hosahalli. An extended section of the Green Line is set for inspection by the Commission for Railway Safety, following successful trial runs. The project, with an extension to Madavara costing INR 298 crore, aims to significantly enhance connectivity for commuters travelling between Tumakuru and Bengaluru.Read more

07 Oct 2024

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has acknowledged technical issues with its newly launched 'MahaCRITI' website, causing delays and affecting real estate stakeholders. To mitigate disruptions, especially during the Diwali and Dussehra festive season, MahaRERA has decided to temporarily restore the previous website, MahaIT, effective from October 5. The rollback aims to ensure smooth operations for homebuyers, developers, and agents. Chairman Manoj Saunik held a meeting to address these concerns and urged cooperation from all parties while the older platform is reactivated to resolve the challenges.Read more

04 Oct 2024

Kochi Metro Rail Ltd (KMRL) has proposed a new Thiruvananthapuram Metro line from Kazhakkoottam Junction to Putharikandam Ground, spanning 14.9 km. This shift follows the scrapping of plans for a Pallippuram starting point, influenced by potential NHAI objections regarding road excavations. KMRL's Managing Director, Loknath Behera, highlighted the advantages of the new alignment, which connects key areas such as Technopark and the legislative assembly, and suggested future extensions to Pallippuram, Kudappanakunnu, and Neyyattinkara in phase II. The project’s phase I is estimated to cost INR 4,673 crores, with KRTL having been dissolved in 2022.Read more

04 Oct 2024

Kishore Mishrilal Bang, promoter of Nirmal Bang Securities, has acquired two luxury apartments in the under-construction Raheja Modern Vivaria project in Mahalaxmi, south Mumbai, for approximately INR 45.69 crore. The combined carpet area of the apartments is 5,255 square feet, reflecting the increasing appeal of high-end real estate in the city. Developed by K Raheja Corp Homes, the project is expected to be completed by 2028 and replaces a former textile mill. This acquisition underscores the growing trend of luxury living among prominent business figures in Mumbai.Read more

04 Oct 2024

MHADA pushes for cluster redevelopment to expedite Mumbai’s housing woes
MHADA has issued 1,200 notices to developers and housing societies to regain control over stalled redevelopment projects, leveraging a 1976 amendment to the Maharashtra Housing and Area Development Act. This allows MHADA to independently supervise redevelopment if no plans are submitted within six months. Vice President Sanjeev Jaiswal highlighted this initiative at the CREDAI-MCHI Redevelopment exhibition, noting 850 notifications under Section 79(A), 300 under 79(B), and 70-80 under 91(A). Jaiswal warned developer against offering excessive incentives, which delay projects. With over 14,000 cessed buildings in South Mumbai, the government is pushing for cluster redevelopment to expedite the process and improve housing.Read more

03 Oct 2024

The Navi Mumbai International Airport (NMIA) has completed its runway construction, with a trial flight scheduled for October 5, attended by Prime Minister Narendra Modi. CIDCO chairman Sanjay Shirsat expressed optimism about the project, anticipating domestic operations by March 2025 and international flights by June 2025. Developed by Adani Airports and CIDCO, NMIA will feature four terminals and is expected to alleviate pressure on Mumbai's existing airport.Read more

03 Oct 2024

The Karnataka government has made e-khata mandatory for property registration starting in October to battle fraud, urging property owners to obtain it quickly as physical khatas will be phased out. Revenue Minister Krishna Byregowda highlighted that the e-khata system, already in 12 districts, will expand statewide. To aid this transition, the revenue department has digitised property records and will collect GPS coordinates as unique identifiers for each property. Additionally, the government is expediting applications to regularise Bagar Hukum land, with 160 committees handling 9.8 lakh applications, while 81.8% of land parcels are now linked to Aadhaar.Read more