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The Tamil Nadu Real Estate Regulatory Authority (TN RERA) Appellate Tribunal has directed House of Hiranandani to register its multi-tower township project as a unified real estate entity, emphasizing compliance with RERA regulations. This decision, prompted by the ongoing nature of the project despite its initiation before the enactment of RERA, aims to ensure transparency and accountability in large-scale residential developments. By mandating the registration of the entire township as a single project, the tribunal seeks to streamline administrative processes and protect the interests of homebuyers. This reflects a commitment to regulatory compliance and fairness in the real estate sector.Read more
Deputy Chief Minister DK Shivakumar announced the implementation of a decentralised automated online approval process named 'Nambike Nakshe' for building plans in Bengaluru, specifically targeting residential constructions. Under this new scheme, residential constructions of up to four units on a plot measuring up to 50 x 80 feet can obtain online building plan approvals from authorised architects or engineers, eliminating the need for physical visits to BBMP offices. Additionally, a new property tax system has been introduced, categorising the city into six zones based on asset classes, and a 10% increase in property taxes has been decided, with efforts to bring 18 lakh property owners into the tax bracket.Read more
The Talati Bungalow, a historic relic in Versova, Mumbai, faces potential demolition following a BMC notice citing structural concerns. Dating back to 1900 AD, the bungalow holds significant historical value as one of the last original Seven Bungalows in Versova. Owners, Shaloo Rahul Barar and her sons, allege a conspiracy by developers and contest the BMC's assessment, citing contradictory audit reports. MLAs and Intach have raised concerns over the misclassification of sturdy structures as dilapidated, advocating for fair evaluations and conservation efforts. The controversy highlights the delicate balance between urban development and preserving cultural heritage, emphasizing the need for transparent and equitable processes.Read more
According to Odisha Real Estate Regulatory Authority (ORERA), promoters seeking registration for real estate projects must now furnish a comprehensive self-declaration. This declaration necessitates the inclusion of detailed information regarding their past and ongoing housing ventures, among other projects. ORERA's directive underscores the importance of transparency in the real estate sector, aiming to enhance accountability and protect consumer interests. The move aligns with broader efforts to regulate the industry and ensure fair practices, marking a significant step towards promoting trust and confidence among stakeholdersRead more
In a recent operation, Mumbai police arrested 12 individuals and charged 53 others for unlawfully trading homes designated for those affected by the city's airport expansion project. The crackdown followed reports of illegal activities during a housing distribution event in Andheri, where over 400 people had gathered. Authorities uncovered fake documents and apprehended individuals involved in the unlawful sale of flats. The incident sheds light on challenges in properly distributing housing for displaced residents, highlighting the need for stringent enforcement measures.Read more
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The Maharashtra Cabinet has given its approval to a INR 5,000 crore plan to construct housing complexes for around 80,000 workers left without homes after the closure of 58 textile mills in Mumbai in the 1980s. The government will provide INR 3,000 crore as subsidy while the BMC will contribute INR 1,500 crore. Most housing will be built in the Mumbai Metropolitan Region but those wanting homes elsewhere can also apply. The cabinet's decision was crucial to implement the long-pending plan to fulfill the government's promise of free housing for all displaced former mill workers.Read more
Pune Municipal Corporation (PMC) has announced initiatives aimed at addressing the city's housing needs, especially for its transient population. With a focus on affordability, PMC will introduce rental housing projects, starting with Baner. Additionally, plans include affordable housing and slum rehabilitation in Gultekdi. The administration is also revising charges for approval of Gunthewari projects to encourage participation. Notably, PMC targets a significant revenue increase from building permissions, signaling a proactive approach to urban development.Read more
MahaRERA, the regulatory authority for real estate in Maharashtra, has announced its decision to introduce a grading system for real estate projects, effective from April. This system will be based on four key parameters selected by MahaRERA. Developers will be required to upload information encompassing technical, financial, and legal details, along with an overview of the project. This data will then be made accessible to potential homebuyers, empowering them to make informed decisions regarding their property investments. This move aims to enhance transparency and accountability within the real estate sector in Maharashtra.Read more
The Greater Noida Industrial Development Authority (GNIDA) has reclaimed 60,000 square meters of land, estimated at INR 120 crore, from encroachers by demolishing illegal structures in Kheda Chauganpur and Bisrakh areas. The CEO issued a cautionary statement urging the public to be vigilant against fraudulent developers and emphasised the importance of verifying land legality before making purchases. This action underscores GNIDA's unwavering dedication to upholding legal regulations and ensuring transparency in land transactions within Greater Noida.Read more
Maharashtra Legislative Assembly Speaker Rahul Narwekar has urged Chief Minister Eknath Shinde and Deputy Chief Minister Devendra Fadnavis to issue an ordinance amending the Maharashtra Rent Control Act. The proposed amendment aims to include residential and commercial tenants in approximately 4,000 buildings on Mumbai Port Authority (MPA) land, extending protections against eviction and arbitrary rent hikes. The move addresses the regulatory gap that leaves MPA tenants without coverage under the current rent control regulations, emphasizing the need for prompt legislative intervention.Read more
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