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In Kolkata, the KMC buildings department has cracked down on six illegal buildings near a collapsed site in Azhar Molla Bagan. One dangerously tilting structure faces imminent demolition, while efforts are on to locate three others showing signs of instability. Promoters will face hearings at the civic headquarters, with potential demolition orders for unsafe portions. Residents face uncertainty over the fate of their homes, especially those tilting towards neighbouring buildings. Mayor Firhad Hakim reaffirms zero tolerance for illegal constructions, highlighting the urgent need to address the proliferation of such buildings to prevent future tragedies.Read more
The Bengaluru consumer court reprimanded Sri Lakshmi Constructions for breaching contract terms in a Vasantha Vallabha Nagar apartment purchase. The builder, accused of failing to provide covered car parking, sewage treatment, BWSSB connection, and rainwater harvesting, was ordered to rectify these deficiencies and compensate the complainant with INR 20,000 for mental distress, plus litigation costs. The complaint arose from purchasing a 2 BHK flat in 2021, with subsequent dissatisfaction over inadequate amenities. Despite the builder's argument against the complainant's consumer status, the court held them accountable, emphasizing their failure to fulfill obligations, particularly regarding parking arrangements.Read more
The State Government of Maharashtra has introduced a policy initiative to address delays in building redevelopment, especially concerning senior citizens, presenting it to the Bombay High Court. The government's circular, discussed during a session led by Justices Girish Kulkarni and Firdosh Pooniwalla, outlines measures to address delays impacting senior citizens, stressing adherence to statutory directives. The court, in its subsequent order, emphasized the need for proactive measures to prevent such delays, expressing satisfaction with the government's actions to protect seniors' housing rights. Stemming from a petition by Jayashree Dholi, the court mandated the maintenance of a registry for such projects and proposed a specialized oversight cell. It urged for swift resolution of disputes and highlighted the importance of addressing senior citizens' complaints promptly.Read more
To address the financial impasse of the Chandigarh Municipal Corporation (MC), the UT administration has approved an interim budget of INR 300 crore for the next three months in the new fiscal year. This interim measure aims to tackle various committed liabilities, including employee salaries, garbage processing expenses, and infrastructural works, amidst uncertainties surrounding the approval of the budget passed by the MC general house. The budget meeting, conducted despite legal challenges, led to the passage of the budget, now under scrutiny by the administration and challenged by BJP councilors. While the interim budget provides temporary relief, swift administrative action is needed to ensure smooth municipal operations in Chandigarh.Read more
The Greater Noida Industrial Development Authority (GNIDA) oversaw 1,000 flat registrations across 30 group housing societies as part of a state government rehabilitation package for stalled projects. Plans are set for an additional 10,000 registrations, with the majority in Greater Noida West. Developers owe INR 1,800 crore, with relief options available. Consent obtained from 75 out of 96 defaulter projects may lead to 15,000 flat registrations. Similar initiatives in Noida and Yamuna aim to streamline processes, fostering trust and development.Read more
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The Delhi Development Authority is offering discounted flats and new inventory under their Diwali Special Housing Scheme 2023. Over 600 flats in Narela and Ramgarh Colony are discounted 15-25% for LIG and MIG categories, making them affordable for first-time buyers. Additionally, 7,931 new EWS and LIG flats in Narela are available. Existing flats in established areas like Jasola, Rohini and others are also being offered, including 8 HIG flats priced between INR. 2-2.1 crore. With options for all income groups and budgets across various locations, this scheme provides a great opportunity for Delhi residents to purchase affordable homes.Read more
Housing and Urban Affairs Minister Hardeep Singh Puri, speaking at a CREDAI youth wing event, stressed the crucial role of a mature and developed real estate sector in India's vision of achieving developed nation status by 2047. Highlighting the necessity of reaching a market size of USD 1 trillion by 2030, Minister Puri praised the transformative impact of the RERA Act in regulating the sector and resolving consumer complaints. He emphasized the sector's significance as the second-largest employer and projected its contribution to GDP to reach 15% by 2030. Minister Puri urged for an additional 25 million units of affordable housing by 2030 and commended CREDAI's commitment to sustainability goals. Despite acknowledging potential risks such as bubbles, Minister Puri reiterated the importance of nurturing a robust real estate sector for India's developmental aspirations.Read more
Following a recommendation from the Haryana Real Estate Regulatory Authority (HARERA), the Department of Financial Services (DFS) is set to mandate banks to enforce RERA norms for withdrawals from real estate accounts. The directive aims to ensure compliance by promoters of real estate projects. HARERA's proposal prompted the DFS Secretary to instruct all banks accordingly. This move points to efforts to improve regulations within the real estate sector, aligning with the broader objectives of promoting transparency and accountability in the real estate industry.Read more
The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has redesigned project registration certificates to now include digital signatures and QR codes. This provides easy access to key details like project name, promoter, and timelines via scanning the QR code on certificates prominently displayed at project sites and offices. The certificates also highlight conditions like escrow account usage. UP-RERA aims to increase transparency and empower home buyers by making all registration information readily available through the accessible QR scanning technology on certificates and promoter platforms.Read more
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has revealed that approximately 35-50% of conciliations between homebuyers and developers have been successful, out of over 1,200 cases handled since 2018. Chairman Ajoy Mehta commended the process for its efficiency and low appeal rates, with around 50% of cases resolved through conciliation. Out of 1,231 cases, 1,061 have concluded, with ongoing success rates within the 35-50% range. While complaints are addressed by MahaRERA, the conciliation forum encourages cooperation for improved success rates, emphasizing dialogue and mutual understanding. Effective dispute resolution mechanisms like MahaRERA's Conciliation Forum enhance trust and confidence in the real estate sector, benefiting all stakeholders and fostering industry growth.Read more
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