Residents of South Nagpur have been waiting for the construction of an internal road for 17 years, but the Nagpur Improvement Trust (NIT) has done nothing. Despite the NIT having approved the layout in 2006, encroachments and illegal buildings have impeded the completion of the road. Encroachments were earlier ordered to be removed by the Bombay High Court, but they have since returned. As this road is essential for their safety and convenience, residents are now requesting that the NIT solve the situation.Read more

India's Proptech sector is booming, securing $4 billion in investments between 2009 and 2022 with a CAGR of 49%. Co-living and co-working platforms dominate, followed by construction technology. Major players like NAREDCO Maharashtra are launching dedicated funds to accelerate innovation in real estate and support start-ups. Brigade REAP, backed by Brigade Enterprises Limited, has mentored 62 start-ups with a 40% success rate in securing external funding. HDFC Capital's HeART Platform and Gruhas Aspire are also actively fostering Proptech innovation through accelerator programs, further driving growth in this dynamic sector.Read more

Citizens and political activists in Pune are urging the city police and civic administration to allocate dedicated parking spaces during the upcoming 10-day Ganesh festival. Nitin Kadam, representing the Rashtravadi Urban Cell, has written to the city police commissioner proposing the use of school and college grounds in central areas as parking lots to alleviate the strain on roads. Kadam also suggested exploring the possibility of altering school timings during the festival. He proposed that schools could extend their hours until 4 pm, after which their infrastructure, such as grounds and open spaces, could be utilized for parking. This would not only help students avoid traffic chaos but also provide space for devotees to park their vehicles.Read more

According to data from the Haryana State Pollution Control Board, only 34% of the necessary anti-smog guns have been placed at large building sites in Gurugram, with 66% still pending. These tools aid in reducing air pollution, particularly in the winter. For building sites between 5,000 and 10,000 square meters, the standards call for at least one anti-smog gun, with bigger sites needing several. Gurugram now has a decent air quality, but experts predict that it will get worse. If anti-smog guns are not installed after a week's notice, environmental officials intend to fine violators. These tools are crucial for combating the pollution in the area.Read more

India's alternative asset investment landscape has transformed with cumulative investments of approximately USD 2.0 billion between 2019 and H1 2023, driven primarily by foreign investors seeking diversification and attractive returns. Institutional investors are venturing into non-core assets, including data centers, life sciences, and co-living, due to factors like the shared economy's rise and government support. Foreign contributions comprised 78% of these investments, with data centers standing out as a preferred asset class. India's robust economic growth, projected at 6.6% by the IMF for 2023, further enhances its appeal. Data centers have witnessed significant investments, thanks to rising data consumption and partnerships with global hyperscale companies.Read more

The Bombay High Court has approved the demolition of a 150-year-old structure on Malvani church land in Malad, Mumbai, to widen a congested road. However, the court has raised concerns regarding compensation and the relocation of the structure. The court noted that the structure, known as Parochial House, was not of significant heritage value, according to the Mumbai Heritage Conservation Committee. The church is willing to cooperate with the removal but seeks compensation and permission to relocate the house on the property. The judges have called for clarity on the actual area, compensation, and potential relocation.Read more

Avenue Supermarts continues its real estate expansion with the purchase of 50,000 sq ft of commercial space in Mumbai's Kandivali suburb for over Rs 88.74 crore, aiming to establish a hypermarket store. The company recently opened a new store in Morbi, Gujarat, reaching a total of 333 supermarket outlets. During the 2022-23 fiscal year, it added 1.9 million sq ft of retail space and achieved impressive sales per sq ft of Rs. 31,000. Additionally, Reliance Retail is opening Metro Cash & Carry stores to all customers after acquiring a 100% stake in the company. These developments underscore the resilience and adaptability of India's business landscape and signal a positive outlook for the future of the retail and real estate sectors in the country.Read more

Queensland-based Voltin, a leader in building defect detection technology, has entered into a strategic partnership with International Real Estate Partners (IREP), a global real estate management organization. This collaboration extends Voltin's reach to more than 80 international markets, including India, while giving IREP early access to Voltin's cutting-edge technology. Voltin specializes in visual data capture and AI-driven photogrammetry modelling software for precise building defect identification. Their system offers an automated and efficient approach to building façade defect detection, capable of identifying over 50 types of defects on various surfaces. This partnership is set to transform real estate inspection technology globally.Read more

In response to rising competition and vast unoccupied spaces in its IT parks, Kerala's government is enlisting international property consultants (IPCs). Aimed at matching the marketing strategies of private developers, the move seeks to promote 20 million sq ft of ready space across three main IT hubs, with an additional 10 million sq ft underway. The strategy mirrors private sector successes in drawing multinational tech giants through IPCs, ensuring Kerala remains a competitive global IT hotspot.Read more

Despite the impending winter air quality crisis in Delhi-NCR, only 220 out of 3,000 construction sites in Gurugram have registered on the dust portal. Launched by the Haryana government in response to air quality concerns, the portal monitors pollution levels at construction sites and enforces compliance with emission reduction rules. Haryana State Pollution Control Board officials have vowed to take strict action against non-compliant sites. However, construction agencies cite the high costs involved in compliance, particularly for smaller projects. This highlights the need for a more concerted effort to combat air pollution in the region.Read more