The Uttar Pradesh Housing Board has taken a proactive step to boost the real estate market by reducing the prices of 4,720 flats in Siddharth Vihar, Mandola, and Vasundhara by up to 42%. Originally priced between INR 69.4 lakh and INR 1.1 crore, these residential units have faced challenges in attracting buyers over the last decade. The price adjustment is part of the board's strategy to address subdued demand and stimulate interest among potential homebuyers.Read more

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has introduced stringent guidelines governing mutual settlements between homebuyers and developers, aiming to enhance transparency and accountability in the real estate sector. These guidelines, effective from this month, mandate settlements to be formalized on non-judicial stamp paper, notarized, and uploaded onto UP-RERA's web portal for verification. These measures seek to address issues of non-compliance and disputes, ensuring adherence to established norms and fostering an environment conducive to successful resolution of proceedings. By standardizing the settlement process and imposing strict compliance measures, UP-RERA aims to enhance trust and efficiency in the state's real estate market.Read more

The Bombay High Court has delivered a decisive verdict in favour of developers Godrej Properties and Shelton Infrastructure, allowing them to retain plots in Sanpada, Navi Mumbai, originally allocated by CIDCO. The dispute arose when CIDCO sought to revoke the allotments, citing concerns over potential financial losses. However, the High Court deemed CIDCO's actions arbitrary and discriminatory, emphasizing the developers' right to equality before the law. Represented by seasoned legal counsels, the developers argued vehemently against the cancellations, leading to a landmark ruling reinforcing the importance of due process and legal diligence in matters of public land allocation and development.Read more

The Jaipur Development Authority (JDA) is set to utilize the Land Pooling Scheme Act of 2016 for the first time, acquiring 164 hectares of land for the Shivdaspura township project. This marks a departure from previous land acquisition methods, such as the "land for land" policy introduced in 2018. Under the land pooling scheme, landowners contribute land for urban infrastructure development in exchange for developed parcels with amenities like roads and parks. Meetings with landowners are underway, targeting 166 hectares along Tonk Road for mixed-use development. This aligns with Jaipur's 2025 master plan, prioritizing satellite townships to ease population pressures and emphasizing sustainable urban growth.Read more

The Bombay High Court has raised concern over the handling of eviction notices by the Slum Rehabilitation Authority (SRA), stressing the need for a more compassionate approach towards slum dwellers' welfare. Amidst concerns over short eviction notices issued after two decades of promises for "permanent alternate accommodation," the court directed the Apex Grievance Redressal Committee to promptly review and potentially stay the eviction orders. The case, concerning slum dwellers near Worli Dairy in Mumbai, reiterated the importance of the Slum Act's welfare intent. The court's rebuke extended to the AGRC's conduct, emphasizing the importance of humanity over monetary concerns in such matters. The intervention underscores the court's commitment to protecting vulnerable communities' rights and well-being.Read more

Tamil Nadu's DMK government recently unveiled a seven 'grand Tamil dreams' in its 2024–25 budget, highlighting social justice and fiscal prudence. Central to the budget was "Kalaignarin Kanavu Illam," a housing scheme aimed at constructing 0.8 million concrete houses by 2030, with a budget of INR 3,500 crore. Despite revenue constraints, the state plans to reduce its deficit marginally and maintain fiscal discipline. Following the Fifteenth Finance Commission's recommendations, Tamil Nadu will adopt a fiscal consolidation strategy, gradually reducing the deficit. Despite challenges, the state anticipates revenue growth and increased expenditures, with debt projected to remain stable relative to GSDP. Overall, Tamil Nadu's budget underscores its commitment to inclusive growth and citizen well-being.Read more

The Uttar Pradesh State Government, guided by recommendations from a committee led by former Niti Aayog member Amitabh Kant, is streamlining flat registration in projects where developers accept recalculated dues under a rehabilitation plan. Special Sunday camps aim to hasten registration, aiding about 40 projects in Noida and Greater Noida. The deal offers a two-year interest and fine waiver on COVID-related dues upon 25% upfront payment. Officials anticipate a boost in revenue collection, aiming for INR 4,728 crore from Noida alone. However, only 13 of 57 developers have responded positively, prompting a deadline extension. Proactive measures aim to enhance developer participation and revenue, aligning with rehabilitation goals.Read more

Haryana's Real Estate Regulatory Authority (H-Rera) has issued a stern warning to banks in Gurugram against allowing developers to withdraw funds from the regulator's accounts in violation of prescribed norms. In a letter dated Feb 12, H-Rera emphasised non-compliance with the Real Estate (Regulation and Development) Act 2016, where developers must deposit 70% of collected funds into separate accounts for specified project expenses. The authority stressed the importance of banks ensuring compliance and notified developers of potential penalties, including up to 5% of the project's cost, for violations.Read more

The Housing and Urban Development Department is launching a web-based House Allotment System (HAS) to ensure transparency in allotting houses to the urban poor. Under Model I of the Housing for All Scheme, private developers must reserve 10% of housing units for Economically Weaker Sections (EWS). The system's standardized procedure outlines eligibility criteria, registration steps, and roles of stakeholders. Beneficiaries register on HAS to apply for EWS house allotment. Development authorities monitor the process, ensuring compliance. With 1,500 EWS housing units in Bhubaneswar set for allocation, the HAS promises a transparent and accountable approach to housing distribution.Read more

In a recent ruling, the Lucknow bench of the Allahabad High Court addressed a key issue regarding eligibility under the state's slum policy. The court highlighted that those with commercial establishments in slum areas cannot be equated with traditional 'slum dwellers,' sparking debate. The case, focusing on the Akbarnagar demolition, saw the court directing authorities to provide details of slum dwellers filing GST and Income Tax returns. This underscores the court's intent to assess each case individually. The outcome of this legal battle will likely influence future urban development strategies and legal interpretations concerning slum rehabilitation policies.Read more