The Gujarat state government has introduced a new policy to incentivize the construction of green buildings. The policy offers Floor Space Index (FSI) incentives for buildings that are rated by agencies like GRIHA, IGBC, and LEED, with the exemption ranging from 7% to 12% of the chargeable FSI. However, the government has also imposed penalties for non-compliance, with buildings that fail to obtain the required rating facing a penalty twice the amount of the incentive FSI. The policy aims to promote sustainable development and encourage the adoption of eco-friendly building practices in the state.Read more

Noida Authority recently sealed Omaxe Buildhome's Grand Omaxe housing society in Sector 93B due to non-payment of INR 457.8 crore in dues. The developer failed to pay 25% of the recalculated dues, approximately INR 114.4 crore, even after receiving relief under the Covid-19 relief package. Noida Authority CEO Lokesh M stated that the developer had ignored multiple notices before the property was sealed. The Authority also plans to seal unsold flats and vacant land at other projects. Of 57 defaulting projects, only 22 have accepted the rehabilitation package, with 29 developers owing around INR 6,900 crore.Read more

The Delhi Development Authority (DDA) has introduced a new system for delivering flat documents to buyers in a customised folder, following instructions from Lieutenant Governor VK Saxena. This folder includes all essential documents, such as the possession letter and various certificates, aiming to simplify the process and enhance the buyer experience. Additionally, a new format for the possession slip will feature a photograph of the buyer to ensure authenticity and add a memorable touch to the transaction. This initiative, starting with Golf View Apartments in Dwarka, reflects the DDA's commitment to improving property transactions.Read more

The long-awaited handover of Indirapuram from the Ghaziabad Development Authority (GDA) to the corporation, a process underway since 2016, is nearing completion. Following a recent board meeting, the GDA agreed to transfer INR 185 crore to the corporation, allocated for infrastructure repairs and development, including road, sewage, and water systems, along with funding for a waste transfer station and material recovery centre. Payments will be delayed over 10 months, with initial funds provided upfront. The transfer had been delayed due to disagreements over the amount, but recent directives and agreements have set the process in motion.Read more

The Chhattisgarh government has received approval from the Centre for the construction of 8,46,931 houses under the Pradhan Mantri Awas Yojna (PMAY) in rural areas. This follows the government's pledge to build 18 lakh houses in the state, addressing a backlog amidst the poor implementation of the scheme in the state. The government has now allocated the state's share of funding and included beneficiaries from previous housing schemes as well. The state government has also requested a separate housing scheme for surrendered Naxalites and those affected by Maoist violence. Alongside PMAY, the state has launched its own "Niyad Nellanar" initiative for village development and completed most of the houses sanctioned under the PM-JANMAN scheme for Particularly Vulnerable Tribal Groups.Read more

The Goa government recently announced a review of the permits granted for real estate projects by DLF and Bhutani Infra due to local protests. Town and Country Planning Minister Vishwajit Rane stated that his department would reassess permissions for DLF's villa project in Reis Magos and Bhutani Infra's project in Sancoale, with potential cancellation if rule violations are found. Locals claim extensive hill cutting, and a breach of planning laws. Rane noted that no new permits for hill cutting have been issued in six months and plans to discuss strengthening regulations with Chief Minister Pramod Sawant.Read more

The much-anticipated redevelopment of the Rajaji Nagar colony in Thiruvananthapuram is finally moving forward, with the tender for the project being awarded. The INR 9 crore project is expected to be completed within nine months and will involve the construction of 248 units, along with infrastructure improvements. However, the project has faced delays due to allegations of some residents not being the true beneficiaries, leading to protests. While the initial plan was to relocate 189 families, only a few are being relocated now due to resistance from the residents.Read more

The GDA board has approved the Unified Master Plan 2031 for Ghaziabad after nearly two years of revisions. The plan spans 33,543.1 hectares across Ghaziabad, Loni, and Modinagar/Muradnagar. With a projected population of 4.8 million by 2031, it allocates 39.8% of the area for residential development and 2.2% for commercial use. The plan features TOD zones along the 1.5 km rapid rail corridor and metro lines and includes a Special Development Area around the Duhai RRTS depot. After multiple revisions and delays, it is now set to be reviewed by the state government for final approval.Read more

The Delhi High Court has taken action to assist the residents of over 300 urbanised and declared urban villages in Delhi who face severe difficulties in transferring ownership of their ancestral properties. For years, these villagers have struggled with getting their properties "mutated" into their names, which is essential for repairs, dividing the property, or taking loans. The lack of a clear policy has led to many legal issues and hardships. Local activists are calling for changes to the law.Read more

The Reserve Bank of India (RBI) has imposed penalties on Godrej Housing Finance, Aadhar Housing Finance, and HUDCO for non-compliance with regulatory guidelines. Godrej was fined for failing to secure independent valuations on large loans, while Aadhar charged interest before loan disbursement. HUDCO was penalized for lapses in customer risk categorization and asset management practices. These penalties, totaling INR 13.5 lakh, reflect the RBI's efforts to ensure regulatory compliance and uphold financial sector stability.Read more