Efforts to improve slum areas in Pune and nearby regions are getting a boost with new rules allowing redevelopment within a larger 5 km radius, up from the previous 2 km limit. This change aims to make it easier to find suitable spaces. Despite this positive step, corruption is still a big problem, slowing down projects by the Slum Rehabilitation Authority (SRA). The SRA CEO, Nilesh Gatne, is hopeful about the new rules speeding up projects, but notices have been sent to 20 developers facing delays. While 61 projects have been completed, 46 are still in progress, and the rules now empower the SRA to enforce deadlines and penalties to ensure efficiency.Read more

In a significant move, the Uttar Pradesh cabinet has given the green light to implement recommendations from the Amitabh Kant Committee report on real estate projects. The approved measures, aimed at providing relief to countless homebuyers in the state, include granting immediate registry and sub-lease deed rights to buyers. Additionally, developers will benefit from a 'zero period,' exempting them from penalties for COVID-19-related delays between April 1, 2020, and March 31, 2022. The decision, addressing legacy stalled housing projects, was announced by UP Cabinet Minister Suresh Kumar Khanna, who emphasized the focus on safeguarding buyers' interests.Read more

Maharashtra Deputy Chief Minister Devendra Fadnavis has mandated biennial inspections for high-rise structures across the state to bolster safety measures, particularly in densely populated regions like Mumbai, Pune, and Thane. The decision follows a tragic fire incident at a candle factory in Talwade, Pimpri-Chinchwad, prompting the government's commitment to public safety. Fadnavis emphasized compliance with safety regulations and revealed updated building codes necessitating refuge areas every two to three floors in high-rises. The move aims to prevent misuse and enhance emergency preparedness.Read more

The Supreme Court has brought relief to investors in Mumbai's Palais Royale skyscraper, upholding the 2019 public auction sale by Indiabulls Housing under the Sarfaesi Act. Pune's Honest Shelters secured the property for Rs 705 crore, ending a decade-long saga of uncertainty initiated by Shree Ram Urban Infrastructure's default on Rs 900 crore loans. The Palais Royale Members' Association, representing buyers, faced a tumultuous journey. The Supreme Court clarified NCLT's inability to scrutinize Sarfaesi Act auctions, endorsing High Court and MahaRERA orders. Of the 164 apartments, 76 are booked, with the rest available. Honest Shelters aims for March 2024 handovers, addressing compliance concerns with over Rs 580 crore in additional expenses.Read more

The Delhi Development Authority (DDA), traditionally focused on affordable housing, is venturing into luxury real estate, signalling a strategic shift to meet diverse housing demands in the city. Vice Chairman Subhasish Panda announced plans for a project featuring luxury apartments, including penthouses, offering three categories of flats. With a total of 2,093 flats available for bidding, prices range from Rs 2 crore for HIG apartments to Rs 5 crore for penthouses. The move, responsive to evolving housing needs, aligns with DDA's commitment to inclusive housing. This initiative sets a precedent for government-led luxury housing, diversifying DDA's portfolio while ensuring housing for all.Read more

The Maharashtra Housing and Area Development Authority (MHADA) has taken action to revamp 17 police colonies in Mumbai, addressing long-standing complaints about the deteriorating condition of service quarters for low-ranking police personnel. Following discussions between the housing and state home departments, MHADA is set to appoint a project management consultant for the redevelopment. Once completed, 4,725 upgraded flats, offering more space than current tenements, will be allocated to police personnel. The move aims to address the persisting issue of neglected housing for constables and head constables.Read more

The Uttar Pradesh government has implemented new guidelines for the purchasable floor area ratio (FAR) to curb unauthorised constructions and enhance transparency in the approval process. Under the revised regulations, developers are now required to purchase FAR before commencing construction, eliminating the previous practice of buying FAR after construction, which often led to disputes. The changes aim to streamline the construction approval process, reduce violations, and ensure adherence to sanctioned layout maps from the outset of the construction phase.Read more

In Kolkata, 18 individuals were arrested for orchestrating an elaborate real estate fraud involving the sale of 14 flats within their criminal network. The fraud scheme included identity theft, forgery, and financial fraud, with the perpetrators not only manipulating property transactions but also securing substantial loans using fabricated documents. The complex operation was exposed when the genuine owner of one flat filed a complaint, leading to a thorough investigation that uncovered a web of deception within the real estate and banking sectors.Read more

Over the last five years, the Navi Mumbai Municipal Corporation (NMMC) has identified 3,500 illegal constructions, raising concerns about the extent of violations in the well-planned city. Data shows 534 unauthorized buildings were identified in the first ten months of this year alone, bringing the total to over 15,000. While the NMMC has taken actions, residents believe efforts remain insufficient. The surge in illegal constructions raises infrastructure strain and concerns about water scarcity. Buyers are also at risk, lured by low-priced flats lacking essential permissions.Read more

During a committee meeting aimed at settling disputes between homebuyers and builders, the Greater Noida Authority addressed various concerns. Topics discussed included the timely completion of flats, the establishment of Apartments Owners Association (AOA), the transfer of Infrastructure Maintenance Fund (IFMS) funds, and the registry process for flats. The committee actively sought solutions to these issues, emphasizing the importance of a comprehensive resolution for the benefit of both buyers and builders involved in the dispute. The next committee meeting is scheduled for January 3.Read more