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Amid growing concerns over building safety, Gurugram's Deputy Audit Commissioner, Nishant Yadav, has launched the second phase of a critical structural audit for 15 residential societies. These buildings, selected from a list of 60 high-risk projects, will undergo a comprehensive on-site inspection to identify structural defects. The audit follows the tragic collapse at the Chintels Paradiso apartments last year. The cost of these audits will be shared equally between residents and developers, although if complaints are confirmed, developers will bear the full cost. This move emphasizes the city administration's commitment to ensuring resident safety.Read more
The government of Karnataka plans to capitalize on the thriving real estate industry by raising the guidance value and promoting online property registration. The stagnant guidance value, unchanged since 2019 due to the pandemic, may be revised upward to increase government earnings by approximately 20%. The government has also launched Kaveri 2.0, a web-based application for property registration, in multiple sub-registrar offices. These measures aim to streamline the registration process and leverage the positive momentum in the real estate sector for increased revenue generation.Read more
Union Minister Rao Inderjit Singh has instructed officials in Manesar to file police complaints against developers if they release untreated sewage or have irregularities in their rainwater harvesting systems. Singh expressed concern about the discharge of untreated sewage in new sectors and urged action against societies violating environmental regulations. He emphasized the need for rainwater harvesting and directed officials to address residents' complaints. Singh inaugurated projects worth Rs 9.1 crore and reviewed fund utilization by panchayats merged with the corporation. His actions reflect a commitment to environmental sustainability and development in the region.Read more
Punjab Chief Minister, Bhagwant Mann, has ordered the demolition of all unauthorized constructions around Mohali's Shaheed Bhagat Singh International Airport. The move addresses national security concerns and aligns with a High Court mandate. To counteract residential displacement, Mann has instructed local government departments to formulate a swift and just rehabilitation package for the affected residents. He emphasizes this will not only alleviate distress but also help minimize legal disputes, ultimately conserving public funds.Read more
Contravening its own directive from 2021, the Ahmedabad Urban Development Authority (AUDA) has decided to sell eight government-owned plots around the Narendra Modi Stadium, previously designated for sports facilities development in preparation for the 2036 Olympics. The sale, including seven plots in Chandkheda and one in Motera, is expected to generate INR 1,500 crore. The move sparks concern over the future of the state's Olympic infrastructure, as official auction dates are yet to be announced. Public scrutiny of AUDA's decision is anticipated.Read more
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Ludhiana is implementing a smart QR code-based Unique Identity Number (UID) system to update the city's property mapping. With rapid growth and changes in the city, the previous mapping has become outdated. A private firm has begun the mapping process and will install UID plates in various blocks. The firm is utilizing survey teams and developing a mobile application to monitor the mapping and installation progress. The project aims to accurately map properties and assign UID numbers, with a target completion time of six months for approximately 5 lakh properties in the city.Read more
India's leading cities are projected to complete a record 560,000 residential units in 2023, a 39% increase from the previous year. This boost is driven by strict RERA guidelines, improved cash flows, technological advancements in construction, and alternative investment funds. The National Capital Region is expected to lead with 30% of total deliveries, a 97% rise from 2022. Despite looming global economic uncertainties, the robust growth and resilience of the Indian real estate sector render this milestone achievable.Read more
DLF's Rajiv Singh is the wealthiest Indian real estate entrepreneur, as per the GROHE-HURUN India Real Estate Rich List 2023, with a fortune of Rs 59,030 crore. The Lodha Group's Mangal Prabhat Lodha and family trail him with Rs 42,270 crore. The report highlights the wealth growth of 61% of featured individuals, with 25 debutants. Interestingly, the entry point to the top 10 soared from Rs 3,350 crore in 2017 to Rs 15,000 crore, reflecting the burgeoning wealth in the Indian real estate sector.Read more
Maharashtra's property registration department is on the brink of adopting blockchain technology to secure online property registration. This initiative aims to prevent document duplication and allow safe data sharing with property buyers, government authorities, and financial institutions. The blockchain-based system will assign a unique identification number to each registered document, enhancing security and reliability. With blockchain's integration, Maharashtra paves the way for other regions to adopt this digital transformation in public services.Read more
The Greater Chennai Corporation (GCC) has identified more than 1,300 sites with illicitly dumped construction debris. Small construction sites remain the biggest culprits, continuing to dispose of waste near water bodies, streets, and garbage bins. Despite levying hefty fines, collecting 12.4 lakh in April and 1 lakh in May, the problem persists. To combat the issue, GCC Commissioner, Dr. J Radhakrishnan, has ordered midnight inspections and confiscation of offenders' equipment and vehicles.Read more
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