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Over 25 lakh property owners in Bengaluru may face hike in tax

Tuesday 30th May 2023

If the hike proposal put forth by the Bruhat Bengaluru Mahanagara Palike (BBMP) receives approval, more than 2.5 million property owners in the city of Bengaluru will need to prepare themselves to allocate additional funds for property tax. Deputy Chief Minister and Minister of Bengaluru City Development, DK Shivakumar, who assessed the functioning of BBMP on Monday, disclosed that the government is contemplating an increase in property tax for the vibrant IT hub. ...

Need for credible framework to differentiate good & bad builders: Housing Secretary

Tuesday 30th May 2023

Housing and Urban Affairs Secretary Manoj Joshi emphasized the need for a "credible framework" that can distinguish between reliable and unreliable real estate developers. This framework would facilitate easier access to credit from banks for the construction of projects, reducing dependence on customers' funds. Speaking at a real estate conference hosted by CII, Secretary Joshi highlighted that customer advances predominantly finance real estate ventures, particularly housing, and stressed the necessity of altering this existing model. ...

MahaRERA orders Rs 7 crore refund for 12, but defers payment till Dec 2023 for project completion

Monday 29th May 2023

The builders of the lavish Mirabilis project in Santacruz have been ordered by the Maharashtra Real Estate Regulatory Authority (MahaRERA) to return the money that 12 allottees paid after the allottees complained about the project's delay. Every case is eligible for a refund of up to Rs 1 crore, for a total of over Rs 7 crore. Under the subvention scheme, nine of the allottees will be reimbursed without any interest, while the remaining three buyers will receive full refunds along with accrued interest. ...

Noida: UPPCB imposes Rs 76.5 crore fine on 38 builders for illegal groundwater extraction

Monday 29th May 2023

The Uttar Pradesh Pollution Control Board (UPPCB) has levied a hefty penalty of Rs 76.5 crore on 38 construction developers for the unauthorized extraction of groundwater through borewells. These builders are required to remit the specified sum within a span of 15 days. According to officials, the UPPCB has imposed the highest penalty of Rs 6.6 crore on the Gaur City 2 undertaking, while the Gaur City 1 project has been fined Rs 4 crore. ...

Covid moratorium benefit not for plan-flouting builder: MahaRERA

Saturday 27th May 2023

In a cautionary decree aimed at builders, the MahaRERA has denied the advantage of the Covid-19 pandemic moratorium, accessible to all promoters. Furthermore, the regulatory authority has instructed a builder to remunerate the complainant with interest, even for the duration covered by the moratorium, due to a violation of the approved plan. Ajoy Mehta, the chairman of MahaRERA, emphasised that only projects that follow the approved plan are eligible for the benefits of the moratorium. The recent order firmly states that benefits or privileges are exclusively granted to entities that operate within the confines of legal compliance. ...

Four years on, Karnataka to hike guidance value by 15%

Saturday 27th May 2023

The Congress government is considering raising property guideline values by 15% in an effort to boost income and pay for its poll assurance programme. According to a minister, the government seeks to increase guidance value and encourage online registration by expanding the use of the web-based programme Kaveri 2.0 to places like Bengaluru in order to take advantage of the real estate market's expansion. Due to Covid-19, the guideline value has not been changed since 2019, although being required to be increased by 15% annually. ...

Gurugram: Audit to check structural flaws in 15 highrise societies in second phase

Saturday 27th May 2023

On Friday, Deputy Commissioner Nishant Yadav issued an order for conducting structural audits of 15 residential societies in the city, marking the commencement of the second phase of an initiative launched following the collapse of flats in Chintels Paradiso last year. These societies will be selected from a pool of 60 projects, where residents and Resident Welfare Associations (RWAs) had lodged complaints regarding construction quality and structural flaws in the past two years. ...

Mumbai: Post-2000 slums dwellers can buy 300 sq ft rehabilitation flat for Rs 2.5 lakh

Friday 26th May 2023

Post-2000 slum dwellers in Mumbai will have the opportunity to purchase rehabilitation flats measuring 300 square feet at a cost of Rs 2.5 lakh. This initiative aims to provide affordable housing options to residents living in slum areas. According to Satish Lokhande, the CEO of the Slum Rehabilitation Department of the Maharashtra government, the previous cost of these homes was between Rs 10-12 lakh, making them unaffordable for most individuals in the low-income group. ...

Push to speedy disposal of land acquisition and rehabilitation cases in Delhi

Friday 26th May 2023

On Thursday, Lieutenant Governor V K Saxena granted approval to the recommendation of appointing an additional district judge as the presiding officer of the Land Acquisition, Rehabilitation and Resettlement (LARR) Authority. According to officials, this new appointment is expected to facilitate the swift resolution of disputes pertaining to land acquisition, compensation, rehabilitation, and resettlement. ...

Now, separate nod not required for non-agricultural land in Maharashtra

Thursday 25th May 2023

In a significant stride towards enhancing the Ease of Doing Business, developers are now relieved from the obligation of obtaining separate non-agricultural permission subsequent to acquiring building approvals. State revenue minister Radhakrishna Vikhe-Patil emphasized that once the competent authority grants permission for construction on a specific plot, it automatically implies that the land has been converted to non-agricultural usage, thereby eliminating the need for a separate non-agricultural permission. ...

Registries of almost 1,100 flats approved but held up by builders: Noida Authority

Thursday 25th May 2023

The Noida Authority has declared that the subleased agreements, commonly known as registries, for 1,097 apartments in 21 collective housing ventures within the city are eligible for completion. However, these agreements are currently being delayed by the real estate developers, who are neglecting their responsibilities towards the prospective homeowners. The Authority has issued a strong warning about imposing punitive actions on developers who persistently obstruct the implementation of these registries. ...

Civic bodies ask UDH to shelve Rajasthan RERA order on registering schemes

Thursday 25th May 2023

A multitude of civic organizations in the state of Rajasthan, comprising the esteemed Jaipur Development Authority (JDA), have corresponded with the Urban Development and Housing department (UDH), expressing their opposition to a notification put forth by the Rajasthan Real Estate Regulatory Authority (RERA) in September 2021. The mandate requires all civic authorities to assume the responsibility of registering all real estate schemes under RERA. ...

MahaRERA recovers over Rs 8 crore from errant developers

Wednesday 24th May 2023

Without going through the entire recovery process of auctioning properties of defaulting developers, the MahaRera has managed to recover approximately Rs 8 crore against 20 recovery orders issued in Mumbai city, Mumbai suburbs, Raigad, and Thane district. MahaRera has diligently pursued the relevant authorities at the district collector's offices to ensure the effective implementation of the recovery procedure. ...

Pune civic body earns Rs 40 crore property tax in a week

Wednesday 24th May 2023

It has been one week since the property tax bills were issued, and the civic administration has accumulated a sum of Rs 40 crore through this levy. The Pune Municipal Corporation (PMC) has introduced a favorable initiative by granting a 40% reduction on property tax for self-occupied properties, following the approval of the scheme by the state government. According to the official notification, properties that were registered after the year 2019 and had previously missed out on availing the discount will now undergo evaluation. ...

Group 108 to invest Rs 2,000 crore Uttar Pradesh

Wednesday 24th May 2023

Group 108, a prominent real estate developer, and the managing partners of Grandthum, an ongoing IT/ITES project situated in Greater Noida West, have announced their intention to allocate a sum of Rs 2000 crore for investments in the region. These investments will be directed towards multiple projects undertaken by the company. ...

Over 25 lakh property owners in Bengaluru may face hike in tax

Need for credible framework to differentiate good & bad builders: Housing Secretary

MahaRERA orders Rs 7 crore refund for 12, but defers payment till Dec 2023 for project completion

Noida: UPPCB imposes Rs 76.5 crore fine on 38 builders for illegal groundwater extraction

Covid moratorium benefit not for plan-flouting builder: MahaRERA

Four years on, Karnataka to hike guidance value by 15%

Gurugram: Audit to check structural flaws in 15 highrise societies in second phase

Mumbai: Post-2000 slums dwellers can buy 300 sq ft rehabilitation flat for Rs 2.5 lakh

Push to speedy disposal of land acquisition and rehabilitation cases in Delhi

Now, separate nod not required for non-agricultural land in Maharashtra

Registries of almost 1,100 flats approved but held up by builders: Noida Authority

Civic bodies ask UDH to shelve Rajasthan RERA order on registering schemes

MahaRERA recovers over Rs 8 crore from errant developers

Pune civic body earns Rs 40 crore property tax in a week

Group 108 to invest Rs 2,000 crore Uttar Pradesh

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