Category: Latest Stories

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Latest StoriesResidential

Mumbai: Tardeo Residents Get Relief for OC-less Buildings

Representative AI image MUMBAI: Nearly a year after the Bombay High Court ordered residents of Tardeo’s Willingdon View Co-operative Housing Society Ltd to vacate the upper 18 floors of their 34-storey building due to the absence of an Occupation Certificate (OC), many are expressing relief following the BMC Standing Committee’s approval on July 8 of a proposal that may regularize such buildings. Residents are now urging for the prompt clearance of the proposal by the BMC’s General Body, and they are requesting that the standard operating procedure (SOP) be made public to facilitate payment of the required charges, acquisition of…

IndustryLatest Stories

MHADA 79A Amendment Boosts Redevelopment of 13,000 Mumbai Homes

MUMBAI: A significant legal obstacle in the redevelopment of countless aging and hazardous buildings in Mumbai has been overcome following the Maharashtra Legislature’s amendment to the MHADA Act, aimed at reinstating the implementation of Section 79A. The Bill has passed through both the Vidhan Sabha and Vidhan Parishad and is now awaiting the Governor’s approval to become law. This amendment aims to eliminate the legal uncertainties that prompted the Bombay High Court to suspend the implementation of Section 79A nearly a year ago. It grants authority to officers designated by the Maharashtra Housing and Area Development Authority (MHADA) to utilize…

Latest StoriesRegulatory

Assam Cabinet OKs Changes to Land Policy

GUWAHATI: On Friday, the Assam cabinet endorsed an amendment to its policy, redefining who qualifies as a ‘landless person’ eligible for government land settlement, as announced by Chief Minister Himanta Biswa Sarma. The amendment stipulates that only individuals whose families have lived in Assam for a minimum of three generations can be classified as ”landless persons” eligible for government land allotment. This was shared by the Chief Minister on X. However, those who migrated to Assam before March 24, 1971, as refugees are exempt from this criterion, provided they can present valid documentation. The cabinet also sanctioned the revalidation of…

Latest StoriesRegulatory

Karnataka HC Upholds Uniform Tax for Five-Star Hotels

The Karnataka High Court has upheld a standardized property tax for all five-star hotels, classifying them as a distinct category for taxation. This ruling dismissed an appeal against the uniform tax implemented throughout Bengaluru. The court determined that there was no breach of constitutional equality principles. However, it did provide some limited relief concerning the timelines for penalty representations.

Latest StoriesResidential

Over 1.1 Million PMAY Homes Ready in Chhattisgarh in 2.5 Years

RAIPUR: In the past two-and-a-half years, over 1.1 million houses have been constructed in Chhattisgarh under the Pradhan Mantri Awas Yojana (PMAY), recording the highest completion rate in the country, as noted by officials on Friday. During a recent event in Raipur, Chief Minister Vishnu Deo Sai presented keys to several PMAY beneficiaries and released a progress report on the “Mor Gaon-Mor Pani” (My Village-My Water) initiative. Shortly after assuming office in December 2023, the state cabinet approved funds for 1.8 million PMAY houses in its inaugural meeting. Continued efforts have led to the completion of more than 1.1 million…

Latest StoriesRera

50% of New Projects Face Pending Complaints: Gujarat RERA

AHMEDABAD: The Gujarat Real Estate Regulatory Authority (GujRERA) has intensified its review process for developers applying for new project registrations. Approximately 50% of the reviewed applications have been linked to promoters or partners with unresolved complaints from past projects. The authority’s more stringent measures necessitate that developers address outstanding complaints, unpaid fines, and any other dues before initiating new project registrations. In the last 15 days, about 10 new projects received provisional registrations, with directives for promoters to resolve outstanding issues within set deadlines prior to attaining full compliance, according to sources. Officials noted that this heightened scrutiny includes both…

Latest StoriesResidential

PMAY Colony in Wathoda Offers Complete Amenities: Maharashtra Deputy CM

File Photo NAGPUR: Deputy Chief Minister Eknath Shinde informed the Assembly on Friday that the Pradhan Mantri Awas Yojana (Urban) housing project at Wathoda has been equipped with all necessary infrastructure in accordance with the approved development plan. He dismissed claims regarding missing amenities, poor construction, and increasing crime in the area. The Nagpur Metropolitan Region Development Authority (NMRDA) completed 3,580 housing units under the scheme by November 13, 2021, Shinde stated. Of these, 264 units are located in Mauza Wathoda and 3,316 in Mauza Tarodi (Khurd). Basic amenities and maintenance are being handled by registered cooperative societies of the…

Latest StoriesRera

Odisha REAT Rules Builder’s Flat Cancellation Illegal

BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) has overturned a decision made by the Odisha Real Estate Regulatory Authority (ORERA), declaring the cancellation of an apartment allotment in a prominent housing project in Kalarahanga as illegal. This cancellation occurred after the buyer had already made a payment to the builder. The tribunal’s recent ruling instructed the builder to issue a revised demand for delayed interest, rather than canceling the allotment. The dispute originated from a flat booked by the buyer in December 2017 for ₹91.36 lakh, of which ₹10 lakh was paid upfront. A sale agreement was subsequently executed…

Latest StoriesResidential

DTCP Audits Ramprastha Primera in Gurugram Amid Balcony Concerns

GURUGRAM: The Department of Town and Country Planning (DTCP) has mandated a thorough structural audit of Ramprastha Primera in Sector 37D following concerns raised by residents regarding the safety of the group’s balconies and other structures. In directives issued to Ramprastha Promoters & Developers Pvt. Ltd., district town planner (enforcement) Amit Madholia has instructed the developer to carry out a comprehensive structural audit at its own expense. This assessment must be conducted by one of the four engineers approved by the panel led by Gurgaon’s additional deputy commissioner and should commence within the next 15 days. The order came after…

IndustryLatest Stories

Keystone Realtors Hits ₹617 Crore in Q1 FY27 Pre-Sales

NEW DELHI: Keystone Realtors achieved pre-sales totaling ₹617 crore in the first quarter of FY 2026-27, a decline from ₹1,068 crore in the same period last year. The company noted that there were no new launches scheduled for this quarter, with pre-sales mainly driven by sales from ongoing projects. Collections for Q1 FY27 reached ₹599 crore, a slight increase from ₹575 crore in Q1 FY26, bolstered by revenues from previously sold units and current project sales. Keystone Realtors outlined plans for future project launches across the Mumbai Metropolitan Region in the upcoming quarters. During this quarter, the company introduced two…