The Competition Commission of India has granted in-principle approval for PNC Infratech Ltd. to acquire a controlling stake in Jaiprakash Associates Ltd. (JAL), provided it emerges as the successful bidder in the ongoing insolvency proceedings. JAL's total debt claims exceed INR 57,185 crore, and the company owns major assets including real estate projects, cement plants, hotel properties, toll roads, and subsidiary investments. The approval follows a Supreme Court directive requiring CCI clearance before the Committee of Creditors can vote on any resolution plan. Other bidders, including the Adani Group and Dalmia Bharat, have also received regulatory approval.Read more

Residents of Signature View in Mukherjee Nagar have begun vacating their flats after a structural audit by IIT Delhi declared the building unsafe. The Delhi Development Authority (DDA) is providing rent support to those relocating, offering INR 50,000 per month to families from three-bedroom flats and INR 38,000 to those from two-bedroom flats. Many residents, however, are seeking more time to secure alternative housing before the demolition process begins.Read more

Mahindra Lifespace Developers Ltd has been chosen to redevelop two residential societies in Chembur, Mumbai, with a combined gross development potential of INR 1,700 crore. Covering 4.4 acres-2.6 acres for one society and 1.8 acres for the other-the projects mark a significant addition to the company's urban residential portfolio. Known for its focus on sustainable growth, Mahindra Lifespace is strengthening its presence in Mumbai's redevelopment market, a sector gaining momentum in high-demand neighbourhoods.Read more

The Navi Mumbai Municipal Corporation (NMMC) recently conducted a demolition drive against unauthorised construction in the Koparkhairane area after prior notices were ignored. The action, directed by the Municipal Commissioner and guided by senior officials of the Anti-Encroachment Department, targeted a property belonging to a local resident. Partial demolition was carried out under the Maharashtra Regional and Town Planning Act, 1966, and a fine of INR 25,000 was imposed. The operation involved multiple officials, police support, machinery, and labour, highlighting the city's commitment to curbing illegal developments.Read more

The West Bengal Urban Development and Municipal Affairs Department has issued a ban on new rooftop constructions atop residential buildings. Existing rooftop establishments in these buildings are required to be discontinued and restored for common use by residents. Commercial rooftop establishments in non-residential buildings may continue operations if they occupy no more than half of the rooftop space, leaving the remainder for emergency refuge. Additionally, buildings with rooftop establishments must ensure two unobstructed access points.Read more

A hybrid resolution method monitored by the Supreme Court has been proposed to complete the stalled Supernova project by Supertech Realtors in Sector 94, Noida. The plan, modeled on earlier cases like Amrapali and Unitech, would put a retired judge or High Court Chief Justice in charge of supervising project revival. Suggested steps include removing current promoters from control, appointing a new board and project management consultant, and conducting a forensic audit of finances. The proposal aims to protect homebuyers' interests while respecting the rights of financial creditors.Read more

The Navi Mumbai Municipal Corporation recently conducted a strict demolition drive against unauthorised construction in the Airoli area after the property owners failed to comply with official notices. Under the guidance of senior officials, the encroachment department removed constructions at two specific plots where building activity had continued despite prior legal directives. A total penalty of INR 50,000 was collected from the property owners. The operation involved dedicated municipal staff, labourers, and police support, signalling the administration's continued focus on curbing unauthorised developments within the city.Read more

Ranchi police have stressed the need for proper tenant verification after recent criminal incidents in the city. Many landlords have not been reporting new tenants to the authorities, even though regulations require it, creating gaps in safety monitoring. Police have directed all stations to collect tenant information and plan awareness campaigns to educate landlords on their responsibilities. This initiative aims to prevent rental properties from being misused for criminal activities and improve safety for residents.Read more

The Haryana government has asked RERA authorities in Gurgaon and Panchkula to fast-track homebuyer grievance redressal and step up monitoring of developers after a review by Chief Secretary Anurag Rastogi. Despite fewer projects compared to many states, Haryana accounts for nearly 10% of India's pending RERA complaints, with most cases linked to Gurgaon. To clear the backlog, RERA has set up a help desk, will launch online tutorials, and establish mediation cells. Deputy commissioners have been tasked with enforcing recovery certificates, supported by RERA. The government has also ordered stricter compliance checks and warned of zero tolerance towards corruption within the system.Read more

UK property markets are experiencing a subtle slowdown, with asking prices for homes falling slightly year-on-year for the first time since early last year. Southern England, where homes are more expensive, has driven much of the decline, though lower prices are helping sales. Rent growth has slowed to its lowest level in four years, with average monthly rents at 1,300 pounds (USD 1,761). Analysts attribute the slowdown to property tax uncertainty, reduced migration, and easier mortgage access for first-time buyers. Economic stagnation and stable interest rates are contributing to cautious activity in both buying and renting sectors.Read more

The Maharashtra government is preparing a new policy to simplify occupancy certificate (OC) approvals for thousands of buildings in Mumbai and its suburbs. Targeted at projects that have long faced delays due to rule changes, lapses, or disputes, the scheme will allow residents to apply online, with penalties waived if applications are made within six months. Issues such as floor area discrepancies, setbacks, and stalled projects will be addressed, while additional space used will require payment of premiums. Recommendations include protecting open spaces, ensuring parking, and permitting partial OCs where feasible. The move aims to ease legal uncertainty, support housing societies, and bring long-pending buildings into compliance.Read more

The Chandigarh Municipal Corporation has launched a large-scale fire safety audit covering more than 25,000 buildings across the city. This move is designed to tackle the risks posed by substandard firefighting equipment and low preparedness among building occupants. Certified third-party agencies will be empaneled to carry out periodic audits in line with the National Building Code. The program also includes training sessions for building occupants to improve emergency readiness, aiming to ensure safety and compliance in various types of buildings across the city.Read more

CREDAI, the apex body of real estate developers with over 13,000 members, has released its "National Real Estate Development Framework Vision 2047" during its annual conference in Singapore. The plan sets out nine focus areas including land reforms, affordable housing through land banks, development of 100 new cities, easier and faster building approvals, rationalised charges, and dedicated infrastructure funding. It also highlights slum redevelopment, promotion of green buildings, adoption of new technology, skilling and labour welfare, and climate-resilient urban planning. The framework calls for phased implementation with strong oversight at both national and state levels.Read more

The National Real Estate Development Council (NAREDCO) has approached the Prime Minister, suggesting that his birthday be celebrated as 'Right to Housing Day' to acknowledge his efforts in advancing affordable housing in India. The industry body highlighted that under the Pradhan Mantri Awas Yojana, over four crore homes have been built, with further expansion expected through PMAY-U 2.0. NAREDCO also commended GST rationalisation and reforms such as RERA, which have strengthened transparency and professionalism in the real estate sector, pledging continued support for 'Housing for All'.Read more

The Punjab government cancelled part of a developer's CLU in Mohali after discovering forged documents that included land from Drari village. The decision affects about 1.3 acres and leaves roughly 200 investors, who had invested around INR 250 crore, in a state of uncertainty. Despite investing six years ago, they have not received property possession or completed infrastructure. The developer has remained unresponsive, while investors seek intervention from the state government or GMADA to ensure project completion.Read more