Union Finance Minister Nirmala Sitharaman recently reviewed the capital expenditure plans for the Ministry of Housing and Urban Affairs, emphasizing the need for timely and efficient use of the allocated INR 28,628 crore for the financial year 2024-25. She urged officials to meet the capex targets within the designated timeframe and fully utilize the budget by year-end. Additionally, Sitharaman highlighted the importance of urban transport, calling for progress on the Metro Rail and Regional Rapid Transit System (RRTS) projects to address urban housing needs effectively.Read more

The Enforcement Directorate's Lucknow unit conducted extensive raids on multiple premises linked to former Noida CEO Mohinder Singh and various builders as part of a money laundering investigation. Following the Allahabad High Court's directives, the ED focused on Hacienda Projects Private Limited (HPPL) and its promoters, who allegedly diverted investors' and home buyers' funds, failing to deliver promised flats. During the searches, assets worth approximately INR 4.256 billion were seized, including cash, gold, diamond jewelry, and property documents, highlighting the significant scale of the alleged fraud affecting home buyers of the Lotus 300 Projects in Noida.Read more

The District Consumer Disputes Redressal Commission-II ordered the State Bank of India to refund INR 6,628 with 6% interest to Ravi Choudhary, who complained about improper deductions from his savings account. The commission found the bank guilty of "deficiency in service" and directed it to pay INR 10,000 in compensation. Choudhary's home loan application faced delays due to legal verification issues, and despite paying fees in cash, SBI deducted the amount without his consent. The bank claimed the fees were his responsibility, but the commission sided with Choudhary, emphasising consumer rights.Read more

The Telangana government has launched the Telangana MSME Policy 2024 with an INR4,000 crore investment over the next five years to boost the state's Micro, Small, and Medium Enterprises (MSME) sector. The policy focuses on six key areas, including land accessibility, finance, raw materials, labor market flexibility, technology adoption, and market access. It aims to establish 25,000 new MSMEs, promote green technologies, and increase e-commerce penetration. By prioritizing procurement from SC/ST and women-owned businesses, the policy positions Telangana as a leading MSME hub in India.Read more

The Greater Chennai Corporation (GCC) has yet to take action on 387 dilapidated buildings identified in a 2022 survey with the Chennai Metropolitan Development Authority (CMDA). Despite issuing notices to 100 structures, no demolitions have taken place, leaving dangerous buildings with exposed reinforcements and cracked roofs across areas like Anna Nagar, Ambattur, and George Town. Many of these buildings still house residents, complicating efforts due to ongoing litigations between owners and builders. Under the 2020 Tamil Nadu Urban Local Body Rules, the GCC is required to conduct structural stability assessments. Officials said a fresh survey of dilapidated buildings is expected to begin soon.Read more

The National Green Tribunal (NGT) has asked the Centre, Delhi's Lieutenant Governor, and other authorities to respond to concerns about the Kusumpur Pahadi rehabilitation scheme by the Delhi Development Authority (DDA). The project aims to build 2,800 homes on nearly 19 acres of land currently housing slum dwellers. However, since this area is part of the Aravali Biodiversity Park, a protected green zone, concerns have been raised about its environmental impact. The NGT stressed that the project's effects on the environment need to be carefully reviewed.Read more

The Andhra Pradesh High Court refused to stay the demolitions being carried out by the Greater Visakhapatnam Municipal Corporation (GVMC) in the coastal regulation zone (CRZ-1) area near Bheemunipatnam. The court directed the GVMC to not yield to political pressure and ensure the removal of all illegal constructions from the ecologically sensitive area. The court had earlier ordered the GVMC to take action against illegal constructions following a public interest litigation (PIL) petition. The court rejected the arguments of the senior counsel, who claimed the construction was done with due permission in the CRZ-2 area.Read more

The Dharani committee has called for a third-party audit of the Dharani portal to investigate allegations of unauthorized changes since its 2020 launch, including discrepancies in property records. Comprising land experts and officials, the committee proposed 32 measures for land governance reform, including renaming the portal to Bhumatha and introducing a new Right of Records Act. It emphasized establishing local oversight and a community paralegal program to assist farmers, while recommending the use of youth for land verification and the organization of village revenue courts to address grievances.Read more

The Group of Ministers (GoM) within the GST Council met in Goa to discuss the real estate sector's tax structure, particularly joint development agreements (JDAs). Most members oppose tax relief, advocating for the current rates. The GoM also confirmed no additional exemptions for long-term land leases and discussed affordable housing definitions and construction service taxability. Further analysis on land value for construction services is required, with the next meeting set for October 25.Read more

The Delhi Development Authority (DDA) has extended the deadline for the final 25% installment payment for 1,800 high-end flats in Dwarka Sector 19B from August 31 to September 30. This extension follows buyer requests for more time and delays due to unfinished work on the flats. Complaints from buyers highlight issues with infrastructure, including inadequate utilities, security, and unfinished construction. Some buyers are concerned about moving in before key facilities are operational, while others question the early collection of maintenance fees.Read more