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Lucknow: LDA offers up to Rs 2 lakh discount on flats till June 30

Tuesday 22nd April 2025

The Lucknow Development Authority (LDA) has extended its discount offer on flats until June 30, 2025, increasing concessions to up to Rs 2 lakh to boost housing sales. Buyers can avail Rs 1.5 lakh off on flats priced up to Rs 45 lakh and Rs 2 lakh off on those above Rs 45 lakh. This offer applies to various schemes, including Sopana Enclave, Adra, Ratan Lok, and others across the city. Originally launched during LDA's golden jubilee in October 2024, the scheme has been revised due to limited response. LDA is also engaging private brokers on commission to enhance sales. ...

Landowners seek GST relief on joint development pacts

Tuesday 22nd April 2025

Landowners across India are seeking GST relief on Joint Development Agreements (JDAs), arguing that the transfer of development rights should not be taxed as it is akin to a land sale, which is outside GST’s scope. Tax authorities, however, claim it's a taxable supply under the forward charge mechanism. Several petitions have been filed, including one in the Bombay High Court, and the Supreme Court has admitted a case challenging GST on JDAs. The outcome may impact real estate project structures nationwide. Despite industry pushback, a GST Council group remains opposed to altering the existing tax structure for such agreements. ...

Noida may see its 1st circle rate revision in 9 years this week

Wednesday 16th April 2025

Noida is set for its first circle rate revision in nine years, with the updated rates expected to be announced within two days. Proposed changes include a 30% increase in rates for flats in Greater Noida and Greater Noida West, and a 20% hike for condominiums in Noida. The revisions come after discussions with stakeholders and review of public feedback. While objections were received, no one appeared for the April 7 public hearing. Officials noted that most proposed rates will be upheld, with only minor changes in select villages based on recommendations from sub-divisional magistrates (SDMs). ...

ED attaches 707 acres of land in Aamby Valley in Sahara India money laundering case

Wednesday 16th April 2025

The Enforcement Directorate (ED) has provisionally attached 707 acres of land in and around Aamby Valley City, Lonavala, valued at approximately Rs 1,460 crore, under the Prevention of Money Laundering Act (PMLA), 2002. This action is part of an investigation into Sahara Group's alleged money laundering activities. The land was reportedly acquired using funds diverted from Sahara Group entities and held under benami names. The probe, initiated based on FIRs from Odisha, Bihar, and Rajasthan, revealed that Sahara operated a Ponzi scheme through various cooperative societies, misleading depositors with promises of high returns and misusing their funds. ...

Maharashtra cabinet waives 2% monthly penalty on property tax arrears in small towns

Wednesday 16th April 2025

The Maharashtra Cabinet has waived the two-month penalty on property tax arrears for residents in small towns and rural areas, providing relief to citizens struggling with pending tax payments. The waiver is a part of the state’s efforts to ease the financial burden on property owners in less urbanized areas. Property tax dues from earlier periods will no longer accrue additional penalties for two months, helping residents clear arrears. The government aims to boost tax collection and encourage timely payments by offering this temporary relief to those unable to settle outstanding dues due to financial constraints. ...

Projects with OC applications before May 2017 exempt from registration: Karnataka

Monday 14th April 2025

The Karnataka Real Estate Regulatory Authority (K-RERA) has announced that residential projects that applied for an Occupancy Certificate (OC) before May 1, 2017, are exempt from mandatory registration under the RERA Act. This clarification resolves confusion about the registration requirements for such projects. K-RERA dismissed complaints from homebuyers of the Hamilton Homes project, who argued that the project was incomplete and should be registered under RERA. The authority cited a 2022 Karnataka High Court ruling, which confirmed that projects with OC applications before the RERA Act's implementation are not subject to its registration obligations ...

Top seven Indian cities witness 4-8% leasing growth : Report

Monday 14th April 2025

India’s top seven cities—Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, Pune, and Kolkata—saw a 4% to 8% growth in office leasing in 2024, as per a report by Vestian. Delhi led with an 8.2% increase, followed by Mumbai at 6.7%, and Bengaluru at 4.7%. In contrast, global cities like New York, Hong Kong, and Shanghai experienced declines due to rising vacancies and changing workplace trends. India’s growth is fueled by strong demand from the IT sector and Global Capability Centers (GCCs), making it an attractive and cost-effective hub for office space expansion. ...

Work begins on Rs 65,000 crore Amaravati city project after 5 years

Monday 14th April 2025

After a five-year pause, construction of the Rs 65,000 crore Amaravati capital city project in Andhra Pradesh has resumed under the leadership of Chief Minister N. Chandrababu Naidu. Envisioned as a world-class urban hub inspired by cities like Singapore and Tokyo, the city spans 217.23 sq km between Vijayawada and Guntur. The master plan by UK-based Foster and Partners aims to create 1.5 million jobs, house 3.5 million people, and contribute $35 billion to the GDP by 2050. The central government has pledged Rs 15,000 crore, with additional financial support from international agencies to push the mega project forward. ...

Telangana government to launch ‘Bhu Bharati’ Portal for land records management on April 14

Monday 14th April 2025

The Telangana government will launch the ‘Bhu Bharati’ portal on April 14, 2025, to improve land records management. Initially piloted in three mandals, the portal aims to offer a more transparent and citizen-friendly alternative to the earlier ‘Dharani’ system introduced by the previous BRS regime. Chief Minister A. Revanth Reddy has instructed officials to refine the portal based on public feedback and organize awareness programs across all mandals. District collectors will lead these initiatives. The new platform is expected to resolve longstanding issues in land administration and make record-keeping more accessible and efficient for citizens across the state. ...

Buyers in a fix as ORERA cancels registration of 2 projects

Monday 14th April 2025

The Odisha Real Estate Regulatory Authority (ORERA) has cancelled the registration of two housing projects in Bhubaneswar’s Mancheswar area after discovering that the developer illegally constructed approach roads on railway land without permission. One project, with only 10% of units sold, has been halted completely. In the second project, where residents have already moved in, ORERA has granted the developer two months to secure a no-objection certificate (NOC) from the railways. Homebuyers fear losing access if the NOC isn’t obtained. Experts blame the planning authority for approving the projects without verifying the land’s legal status, raising serious regulatory concerns ...

RERA registry cannot decide upon maintainability of complaints, says Karnataka high court

Monday 14th April 2025

The Karnataka High Court has ruled that the registry of the Karnataka Real Estate Regulatory Authority (RERA) cannot decide on the maintainability of complaints. This decision came after Bengaluru resident Amit Garg’s complaint against SJR Prime Corporation was dismissed by the RERA registry via email. The court clarified that only the adjudicating authority of RERA has the jurisdiction to assess such matters. In a related case, the court also held that service providers like Columbia Pacific Communities, engaged through individual service agreements, cannot be held accountable under RERA for issues related to project development. Both complaints were addressed accordingly. ...

256-acre salt pan land okayed for Dharavi redvpt

Saturday 12th April 2025

The Maharashtra government has approved the allocation of approximately 256 acres of decommissioned salt pan land in Mulund, Kanjurmarg, and Bhandup for the Dharavi Redevelopment Project (DRP). These lands, officially decommissioned years ago, are deemed safe for construction and free from environmental risks. The state government assures that all necessary environmental clearances will be obtained before commencing construction activities. These parcels were earmarked for affordable housing in the Development Plan 2034, approved in 2018, to address the city's growing population and housing needs. ...

NBCC auctions Amrapali flats worth Rs 7,000 crore to three developers

Saturday 12th April 2025

State-run NBCC has raised over Rs 7,000 crore by auctioning approximately 7,100 residential units from stalled Amrapali projects to three developers: Manson, Happy Valley Infra, and Gaurs Group. This bulk sale aims to clear outstanding dues to banks and the Noida and Greater Noida authorities. Additionally, NBCC plans to generate Rs 14,000 crore through further land development and Floor Area Ratio (FAR) projects, facilitating the completion of about 46,000 delayed homes. The Uttar Pradesh government's approval for NBCC to develop additional flats is expected to aid in the timely delivery of these projects. ...

Siddaramaiah promises to regularise contract surveyors recruit 36 land records personnel

Saturday 12th April 2025

On April 10, 2025, Karnataka Chief Minister Siddaramaiah announced plans to recruit 36 Assistant Directors of Land Records (ADLRs) and regularize contract surveyors' services. At the 36th National Survey Day event, he emphasized the revenue department's role in maintaining societal peace and urged officials to complete pending land surveys within two years to prevent disputes. Appointment letters for 750 surveyors will be issued soon. Revenue Minister Krishna Byre Gowda highlighted technological advancements, noting that 49 CORS centers have been established and 5,000 additional rovers will be procured to expedite surveys, reducing time from over six hours to just eight minutes. ...

Builder moves RERA over structural changes by flat owners

Saturday 12th April 2025

A builder in Hyderabad has lodged a complaint with the Telangana Real Estate Regulatory Authority (TGRERA) against two residents of the Aparna Serenity project in Petbasheerabad. The residents allegedly made unauthorized structural changes to their flat, violating Clause 15.1 of the sale agreement, which prohibits such alterations without prior written approval. The builder also referenced Section 433 of the GHMC Act, which bars structural modifications without official consent. The complaint aims to ensure regulatory compliance and preserve the building's structural integrity. TGRERA will now review the matter and decide on necessary action against the flat owners. ...

Lucknow: LDA offers up to Rs 2 lakh discount on flats till June 30

Landowners seek GST relief on joint development pacts

Noida may see its 1st circle rate revision in 9 years this week

ED attaches 707 acres of land in Aamby Valley in Sahara India money laundering case

Maharashtra cabinet waives 2% monthly penalty on property tax arrears in small towns

Projects with OC applications before May 2017 exempt from registration: Karnataka

Top seven Indian cities witness 4-8% leasing growth : Report

Work begins on Rs 65,000 crore Amaravati city project after 5 years

Telangana government to launch ‘Bhu Bharati’ Portal for land records management on April 14

Buyers in a fix as ORERA cancels registration of 2 projects

RERA registry cannot decide upon maintainability of complaints, says Karnataka high court

256-acre salt pan land okayed for Dharavi redvpt

NBCC auctions Amrapali flats worth Rs 7,000 crore to three developers

Siddaramaiah promises to regularise contract surveyors recruit 36 land records personnel

Builder moves RERA over structural changes by flat owners

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