The Madras High court has ordered for the demolition of a compound wall constructed by Olympia Infra Tech Pvt Limited for its residential project Opaline. The order was passed after the court found that the structure had encroached upon a public road in Navalur, Chennai.Read more

The National Capital Region (NCR) in India has long been a popular destination for developers seeking to acquire land. In 2022, 23 transactions totalling nearly 745 acres of land were transacted, valued at INR 7,000 crores (USD 875 million) in the area. Gurgaon recorded the most transactions, with 12 deals, followed by Noida with six major land deals. Residential development was the primary use, with 15 out of 23 transactions, totalling nearly 665 acres, acquired for proposed residential developments.Read more

The redevelopment of 11 chawls in nine defunct National Textiles Corporation (NTC) mills is set to create 18 lakh sq ft of new construction in central Mumbai. Of this, approximately 6 lakh sq ft will be used to rehouse free of cost the 2,062 tenants currently residing in NTC chawls. The remaining 12 lakh sq ft will be given to the successful bidder of the chawls' redevelopment, with the free sale portion expected to be worth more than Rs 5,000 crore.Read more

The National Green Tribunal (NGT) has imposed a fine of more than 113 crore rupees on Uppal Chadha Hi Tech Developers Pvt. Ltd. for violating environmental norms in its Hi-Tech Township across 14 villages in Ghaziabad and Gautam Buddha Nagar districts of Uttar Pradesh. The environmental compensation was calculated at 0.75% of the total project cost, and the NGT ordered the PP deposit the money with the Uttar Pradesh Pollution Control Board (UPPCB) within three months. The NGT expressed disappointment with the ED's lack of action in the matter and criticized the Central Pollution Control Board (CPCB) for being "very lenient" towards violators.Read more

The Mysore Urban Development Authority (MUDA) is proposing to develop residential areas on approximately 1,000 acres of land through a joint agreement with farmers and landowners. After encountering some obstacles with their original plan to develop sites at Ballahalli, MUDA has now selected 250 acres in Daaripura village in Jayapura hobli and 750 acres in Bommenahalli village in Yelwal hobli. Many farmers have agreed to participate in the development project with MUDA under a 50:50 ratio.Read more

A decree from the Maharashtra Urban Development Department has now placed 19.7 hectares of prime railway land located in Dharavi slums under the jurisdiction of the Slum Rehabilitation Authority. The state government is said to have paid Rs 800 crore to the Indian Railways in 2019 to purchase a total of 47.5 acres of land, which includes the 19.7 hectares to be included in the rehabilitation of Dharavi. Due to the 19.7 hectares of property owned by the railways and not under the control of the state government, efforts to rehabilitate Dharavi had previously failed. Adani Realty placed the highest bid at Rs 5, 069 crore, winning the much-coveted Dharavi redevelopment project.Read more

The Maharashtra Housing and Area Development Authority (MHADA) has announced plans to construct 231 earthquake-resistant independent houses for the victims of the disaster, which claimed the lives of over 80 people. These 2-bedroom homes, measuring approximately 600 square feet, are being built in the Taliye village in Raigad district and are being constructed to provide a safe and secure living environment for the affected individuals. The cost of the project is estimated to be Rs 77 crore, with each house costing Rs 20 lakh, and will be fully funded by MHADA. The government agency is working to ensure that possession of 66 houses is given by April 2023, with the remaining houses being given in phases.Read more

Earlier last week, an official representing the Uttar Pradesh Government announced that the Yamuna Expressway Industrial Development Authority (YEIDA) will now include 55 villages from the Khurja and Secunderabad tehsil divisions in the Bulandshahr district. The YEIDA now has 1,242 villages that have been notified in total. The Dedicated Freight Corridor (DFC), New Noida and the railway between Delhi and Howrah have all been included to the authority's domain.Read more

The National Green Tribunal (NGT) has recently imposed an environmental compensation of INR 113.25 crore (approximately USD 15.2 million) on the developer of Wave City, a residential project located along National Highway 9 in Ghaziabad, Uttar Pradesh, India. The developer has been given three months to deposit the fine with the Uttar Pradesh Pollution Control Board (UPPCB). A three-member bench of NGT, led by Chairperson Adarsh Kumar Goel, passed the order after a report was submitted by a joint team of UPPCB, Central Ground Water Board, and the forest department officials.Read more

The trend of sustainability in real estate is rapidly growing in India. In the past five years, the market has witnessed a 37% rise in the supply of certified buildings. The cost difference between conventional and green buildings has decreased, making it easier for developers to maintain profitability while incorporating green building practices. Also, homebuyers today are becoming increasingly aware of the importance of sustainability, which in turn is driving the shift towards a more sustainable real estate market in India.Read more