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The Maharashtra government has issued a draft notice introducing specific regulations for 'iconic' buildings. These structures must be on independent plots and cannot be purely residential. Non-habitable architectural features may be exempt from floor space index calculations upon approval by a committee led by the municipal commissioner. Eligible developers must have completed at least one million square meters of built-up area or have a turnover of INR 5,000 crore over the preceding three years. Proposals from renowned architects may receive special consideration.
Vedanta Group has expressed interest in acquiring the bankrupt Jaiprakash Associates Ltd (JAL) through the insolvency process. Adani Group has also submitted an Expression of Interest (EOI) for JAL. JAL, involved in sectors like cement, power, and real estate, has outstanding loans totaling INR 55,493.43 crore as of February 20, 2025.
The Economic Offences Wing (EOW) is investigating the Edelweiss Group based on a complaint by Ecstasy Realty Pvt Ltd (ERPL) alleging misappropriation of loan disbursement. Edelweiss asserts that the dispute is a civil financial matter, not a criminal offense, and indicates that ERPL owes INR 1,683 crore, including INR 480 crore in unpaid principal since April 2022. The company is considering legal options to challenge the First Information Report (FIR).
Between March 17 and 26, the Nashik Municipal Corporation (NMC) received over 1,200 offline building plan proposals and approved around 200. This temporary shift to offline submissions was due to technical issues with the online approval system. NMC chief Manisha Khatri had previously mandated online submissions to streamline approvals and reduce delays. Developers' associations have requested the continuation of offline submissions, and Khatri plans to address their concerns in an upcoming workshop.
The Municipal Corporation of Gurugram (MCG) has made significant progress in reducing pending property ID objections, lowering the count from 11,029 to 3,135 as of March 26. This is part of MCG's ongoing efforts to streamline property tax processes and improve transparency. The reduction aims to resolve disputes and ensure accurate tax records, with further actions planned to address the remaining objections. This initiative is expected to enhance the efficiency of property tax collection and promote better governance in Gurugram.
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The Odisha Real Estate Regulatory Authority (RERA) has appointed forensic audit firms to probe delays and irregularities in ongoing real estate projects. This move is part of RERA's commitment to improving transparency and accountability within the state's real estate sector. The forensic audits will focus on financial mismanagement, delays in project delivery, and non-compliance with regulatory guidelines. The initiative is aimed at safeguarding the interests of homebuyers and promoting stricter enforcement of regulations in Odisha's real estate market, enhancing confidence in the sector.
The Rajasthan government has initiated action to revoke illegal land allocations in Bikaner's Kolayat and Bajju tehsils following an investigation. A committee led by Bikaner's additional district collector (city), has been formed to examine these cases. Official records revealed that between November 2020 and October 2023, 69 cases of land reserved under special allocation and Moharband categories were wrongly allocated under general allocation in Bajju tehsil. Corrective measures are now underway, with the colonisation commissioner or district collector empowered to cancel such allocations. The disputed cases will be reviewed through judicial procedures after submission by the concerned tehsildar.
The state government has announced that the height of stilt parking will no longer count towards the permissible building height under the 12.5% scheme in Navi Mumbai. This decision aims to facilitate redevelopment projects that were previously hindered by height restrictions. Deputy Chief Minister Shri Eknath Shinde stated that the Unified Development Control and Promotion Regulations (UDCPR) will be updated immediately to reflect this change. The 12.5% scheme, initiated by CIDCO in 1994, allocates developed land to project-affected persons (PAPs) whose land was acquired for Navi Mumbai's development. By excluding stilt parking from height calculations, the government seeks to accelerate redevelopment and benefit numerous residents in the region.
The Coimbatore Corporation has commenced the demolition of structures encroaching upon Kannapiran Mills Road in Ward 50. Last week, 13 houses were removed, with the remaining encroachers granted time until the end of April due to ongoing student examinations. This road serves as a crucial link between Sowripalayam Road and Trichy Road, aiding residents from areas like Masakalipalayam, Sowripalayam, and Annamalainagar in bypassing peak-hour traffic congestion. The corporation had previously issued eviction notices in 2023, leading some residents to vacate. Following a recent inspection, more eviction notices were served. Efforts are underway to allocate alternative plots to the displaced families, with the process expected to conclude by April, restoring the road to its original width.
The Haryana government has reaffirmed that plots under the Haryana Shahari Vikas Pradhikaran (HSVP) will continue to be allocated through an auction system rather than a lottery. This decision aims to ensure transparency and efficiency in land allocation while maximising government revenue. The auction method is considered more beneficial as it prevents manipulation and enables competitive bidding, leading to fair pricing. This move aligns with the government's broader efforts to streamline urban development and attract serious buyers while discouraging speculative transactions.
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