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The Pune Municipal Corporation (PMC) has employed artificial intelligence (AI) tools to incorporate over 11,000 previously non-tax paying properties into its tax system, resulting in an estimated Rs 31 crore increase in revenue. By analysing property tax data, Geographical Information System mapping data, and satellite imaging, the AI-driven approach enabled accurate identification and classification of commercial and residential properties. This innovative use of technology highlights the potential of AI in streamlining administrative processes and may prompt other civic administrations to adopt similar methods for optimizing revenue generation and resource allocation.Read more
The Saharsa district administration has taken steps to modernize its operations by digitizing its collectorate and subdivisions through e-offices. As part of this effort, they have recently introduced a new mobile application that allows for land measurement, which can be used for various purposes such as buying, selling, or identifying encroached land. This initiative aims to address the issue of land disputes, which often result in conflicts and violence.Read more
The officials of Ludhiana municipal corporation have issued a warning to the public about fraudulent activities related to the Basic Services for Urban Poor (BSUP) scheme, following numerous complaints of fake allotment of flats. The officials clarified that no staff members of the municipal corporation visit homes to offer flats to residents, as these flats were constructed specifically for the rehabilitation of slum dwellers. They urged residents to be cautious and not to engage with any illegal deals, and to report any such activities to the authorities.Read more
The Noida Authority has hired an agency to keep a check on the Sports City project, which is located in various sectors, and to ensure that the facilities are in place. The agency will assist in identifying gaps and remedies for completing the sports facilities. As per the original plan, 70% of the land was to be used for sports facilities, and the remaining area was to be used for residential and commercial purposes. However, the developers sold residential properties without completing the sports facilities.Read more
The Maharashtra State Human Rights Commission (MSHRC) has criticized the City and Industrial Development Corporation (CIDCO) for its "total non-action" against a private builder who has been cutting into Parsik Hill in Navi Mumbai. Environmentalists claim that this slope cutting is endangering the lives and properties on top of the hill. CIDCO had earlier entered into a Leave & License Agreement with the builder only for plantation and maintenance of part of the hill. However, the builder made a pathway and erected advertisement hoardings, for which CIDCO served notice on the builder.Read more
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Delhi-RERA and NAREDCO have partnered to create the National Institute of Real Estate Development (NIRED) to promote capacity building in the real estate, construction, and infrastructure sectors. NIRED will provide training courses for various stakeholders in the industry and promote awareness of the Real Estate Regulation and Development Act 2016. By focusing on skill development, emerging trends, and technologies, NIRED aims to bridge the skill gap, enhance transparency, and contribute to the overall growth and modernization of India's real estate market.Read more
UP RERA has hired a consultant to resolve the deadlock between real estate firms and Noida and Greater Noida development authorities over nearly Rs 39,000 crore in legacy land dues. The impasse has halted registries in residential societies throughout Noida, leaving residents with incomplete amenities. The consultant is expected to submit a report within a month, proposing a potential roadmap to address the issue. Meanwhile, a meeting between UP RERA, the development authorities, and developers is scheduled to discuss the matter further, with the aim of benefiting residents, developers, and local authorities.Read more
The registrar’s office in Indore has reported a high number of daily property registrations, with close to 1000 properties being registered every day. The month of March has seen a significant increase in demand for residential apartments, plots, and commercial property, resulting in an estimated income of around Rs 350 crore from the sale deeds of properties. This increase in demand has been further compounded by a rise in the collector’s guideline rates.Read more
Representatives of several Resident Welfare Associations (RWAs) in Gurugram strongly opposed the construction of stilt plus four floors, stating that it will only put additional burden on the already crippled infrastructure of the city. The RWAs demanded a complete ban on stilt plus four floors and highlighted the problem of increased floor area ratio (FAR). They claimed that the policy of stilt plus four floors is a breach of residents' trust, and the low-height houses are deprived of free flow of air and sunlight. The government had kept the fresh building plan of stilt plus four floors in residential plots in abeyance in February.Read more
Authum Investments and Infrastructure has completed the Rs 3,351 crore acquisition of debt-ridden Reliance Home Finance Ltd (RHFL), marking the largest non-banking finance company (NBFC) resolution outside bankruptcy courts. Despite delays due to regulatory objections, lenders' recoveries increased, with secured creditors recovering about 29% of their dues. The successful resolution exemplifies the potential for out-of-court settlements to address distressed NBFCs, offering a more efficient and effective approach for the Indian financial sector.Read more
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