Category: Latest Stories

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Latest StoriesRegulatory

Bhubaneswar to Act on Building Violations Before SC Hearing

Representative AI image BHUBANESWAR: The Bhubaneswar Municipal Corporation (BMC) is set to activate its enforcement squads to address deviations from approved building plans. This move is significant as the corporation is due to submit its action report on unauthorized constructions to the Supreme Court on August 4. According to officials, the planning wing of BMC will conduct inspections to identify violations such as unauthorized additional floors, encroachments on required setback areas, and alterations to sanctioned building plans. Enforcement squads will recommend actions based on their findings, following the applicable building laws. Sridhar Jena, chairman of BMC’s planning and development standing…

Latest StoriesResidential

Maharashtra: Housing Societies Gain Binding Governance Reforms

Representative AI image MUMBAI: Maharashtra has instituted a major reform in cooperative housing society governance with amendments to the Maharashtra Co-operative Societies Rules, 1961, implementing numerous member-oriented changes set to impact thousands of apartment owners across Mumbai, the MMR, and the state. While the focus has been on self-redevelopment and reduced penal interest on maintenance dues, several crucial governance reforms have flown under the radar. The new Rules, effective from June 18, lower the minimum number of members required to establish a cooperative housing society from 10 to five. They also introduce a formal name reservation process for proposed societies,…

Latest StoriesResidential

Ghaziabad: 307 Societies Receive Notices for Missing Power Audits

GHAZIABAD: The power department has sent notifications to 307 housing societies throughout the city for neglecting to submit mandatory annual electricity audit reports. This action is part of an effort to regulate common-area power usage and prevent Resident Welfare Associations (RWAs) and Apartment Owners Associations (AOAs) from overcharging residents. The audit encompasses electricity used in shared facilities, including lifts, lobbies, basements, parking areas, clubhouses, and street lighting. Approximately 350-360 housing societies in the district are required to submit these annual reports, yet only 53 have complied to date. Executive Engineer (Trans-Hindon) Amit Jha noted that the department initially provided societies…

Latest StoriesResidential

BMC Approves 126 Tree Removal for Powai SRA Project; 4K Homes to PAP

Representative AI image MUMBAI: On Tuesday, the BMC’s Tree Authority approved a proposal to cut down 126 trees for a slum rehabilitation project at Hiranandani Udyan in Powai. The decision followed the developer’s commitment to provide over 4,000 free rehabilitation flats for those affected by various infrastructure projects led by the Mumbai Metropolitan Region Development Authority (MMRDA) and the Slum Rehabilitation Authority (SRA). The proposal presented to the Tree Authority requested permission to remove trees obstructing construction on plots 23A (Part), 26A (Part), and 27 (Part), now bearing New Plot Number 23/9/2, located in Powai village, Kurla taluka. The application…

IndustryLatest Stories

Credai Calls for Double Soil Report Verification After Tower Tilt

Representative AI Image BENGALURU: Following the recent incident of a tilted apartment tower that revealed shortcomings in a geotechnical investigation report, the Confederation of Real Estate Developers’ Associations of India (Credai)-Karnataka chapter has proposed double verification of soil investigation reports as a best practice in its developers’ handbook. The recommendation is advisory and not mandatory, encouraging members to adopt it. Developers will be urged to have geotechnical investigation reports independently reviewed prior to foundation work to reduce errors in soil assessments, crucial for structural design and foundation planning. According to Credai officials, the handbook is regularly updated based on industry…

Housing FinanceLatest Stories

SC criticizes CBI, Delhi Police for Indiabulls probe silence

NEW DELHI: On Tuesday, the Supreme Court expressed strong disapproval of the Central Bureau of Investigation (CBI) and the Delhi Police’s Economic Offence Wing (EoW) for their inaction regarding allegations of dubious transactions involving Indiabulls Housing Finance Limited (IHFL). The court termed their lack of action “shocking” and indicated a possible “quid pro quo”. A bench consisting of Chief Justice Surya Kant and Justices Joymalya Bagchi and V Mohana criticized the CBI for failing to respond to previous directives regarding the registration of a regular case and not providing a status report on the ongoing investigation. “Due to CBI and…

Latest StoriesRegulatory

Bombay HC Quashes PMLA Case Against D B Realty Chief

MUMBAI: The Bombay High Court has dismissed a 2016 money laundering case against D B Realty Ltd and its managing director, Vinodkumar Goenka. This case was associated with former Maharashtra deputy chief minister Chhagan Bhujbal and the Maharashtra Sadan construction controversy. A single-judge bench led by Justice Ashwin Bhobe, in a July 21 ruling, annulled the 2019 order from a special court that had rejected the discharge petitions of Goenka and D B Realty. They were implicated in a case under the Prevention of Money Laundering Act (PMLA) set in motion against Bhujbal and others in 2016. For Goenka and…

Latest StoriesResidential

CM seeks 11.56 lakh PMAY-G homes for Telangana from Centre

HYDERABAD: Telangana Chief Minister A. Revanth Reddy on Tuesday appealed to Union Minister Shivraj Singh Chouhan to allocate 11.56 lakh houses to the state under the PMAY-G scheme. During a meeting with Chouhan, the Union Minister for Agriculture and Rural Development, Reddy emphasized the state’s commitment to providing housing for the underprivileged since taking office. He updated Chouhan on the progress of housing construction under Telangana’s ‘Indiramma’ scheme and highlighted how demand has surged due to the previous BRS government’s inadequate utilization of the Pradhan Mantri Awas Yojana-Gramin scheme. Consequently, many individuals have been without homes over the last decade.…

Latest StoriesResidential

Haryana Cabinet Lowers Stamp Duty, Registration Fees for EWS

CHANDIGARH: The Haryana Cabinet convened on Tuesday to approve multiple initiatives focused on enhancing affordable housing, stimulating industrial growth, enhancing governance, reinforcing welfare programs, and fostering electric mobility. In a significant step for beneficiaries of the Pradhan Mantri Awas Yojana-Urban 2.0, the Cabinet, led by Chief Minister Nayab Singh Saini, sanctioned a notable reduction in stamp duty and registration fees for Economically Weaker Section (EWS) beneficiaries looking to buy eligible homes of up to 60 square metres. Under this decision, eligible beneficiaries will only pay Rs 500 for stamp duty and another Rs 500 for registration per property deed. Currently,…

Latest StoriesRegulatory

Bombay HC grants interim relief to SD Corp in defamation case

MUMBAI: The Bombay High Court has provided interim relief to SD Corporation Pvt Ltd, a Mumbai-based real estate developer, in a defamation lawsuit. The court has ordered that defamatory posts, videos, and messages targeting the company and its MHADA redevelopment project must not be disseminated until the next hearing. Justice Abhay Ahuja issued this direction on July 27 while considering an interim application from SD Corporation against Devang Dave and others. The court noted that the company demonstrated a prima facie case warranting this temporary relief. According to the lawsuit, SD Corporation— a joint venture of the Shapoorji Pallonji Group…