Category: Latest Stories

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IndustryLatest Stories

CREDAI Supports CRZ Reclassification for Visakhapatnam Coast

VISAKHAPATNAM: A proposal to reclassify segments of the Visakhapatnam coastline from Coastal Regulation Zone (CRZ)-III B to CRZ-II is currently under consideration. Stakeholders are discussing its potential impact on urban development, environmental protection, and real estate growth. The Andhra Pradesh Coastal Zone Management Authority (APCZMA) is reviewing a request to change nearly 499 hectares of coastal land between Madhurawada and Bheemunipatnam to CRZ-II status. Official documents indicate that over 64% of the identified area is already developed, supported by infrastructure such as roads, drainage systems, and water supply networks. Officials believe that this reclassification would enable significant infrastructure projects, including…

Latest StoriesRera

Odisha RERA Seeks More Autonomy from Government

BHUBANESWAR: The Odisha Real Estate Regulatory Authority (ORERA) has called on the state government to provide it with financial and administrative autonomy due to operational challenges that hinder its effectiveness. This request follows a recent advisory from the Union Ministry of Housing and Urban Affairs, encouraging states to enhance the capacity and independence of their real estate regulatory bodies. In a letter sent to the state government earlier this month, ORERA highlighted that its lack of independent financial powers leads to reliance on government approvals for crucial decisions such as staff recruitment and salary disbursement. Officials have indicated that, although…

Latest StoriesResidential

Survey to Focus on Current Areas, Not New Claims in Haryana

GURUGRAM: New constructions or expansions are excluded from an ongoing exercise designed to identify residential areas within the notified Punjab Land Preservation Act (PLPA) zone in Anangpur, Faridabad. Officials engaged in ground-truthing to determine residential areas noted attempts by some residents to extend their property boundaries. As a result, they emphasized that such modifications should not skew the findings of the exercise. A ground-truthing exercise verifies and validates information derived from remote sources like satellite imagery or official documentation to ensure that the data accurately reflects the current state of the land. Officials have directed that the focus remain on…

Latest StoriesResidential

Haryana: RWA Must Preserve Essential Services Despite Dues

GURUGRAM: The registrar-general of societies in Haryana has ruled that resident welfare associations (RWAs) cannot suspend essential services like garbage collection or digital access systems as a means to recover unpaid maintenance fees. Additionally, it was emphasized that maintenance charges should be proportional to the size of residences, rather than uniformly applied to all properties. The June 16 directive arose from a conflict involving residents and the N Block RWA of Mayfield Gardens, concluding a legal struggle that had persisted for almost nine months across various administrative channels. On September 27 of the previous year, the RWA held a general…

Housing FinanceLatest Stories

NHB Investigates Aavas Financiers for Loan Classification Issues

Sure! Here’s a rewritten version of the content: — MUMBAI: The National Housing Bank (NHB) has initiated a formal investigation into Aavas Financiers, a mortgage lender backed by CVC Capital Partners, after preliminary findings revealed irregularities in loan classifications. Sources familiar with the situation informed RealtyDailyNews that several loans were improperly categorized under ineligible refinancing schemes. The sector regulator has revoked refinancing support amounting to nearly Rs 500 crore, triggering a significant leadership reshuffle within the company. RealtyDailyNews first reported on April 13 that managing director and CEO Sachinder Bhinder was being asked to resign, with Manu Singh, former head…

InfrastructureLatest Stories

Gurugram to build new construction waste plant by Feb 2027

Representative AI image GURUGRAM: The Municipal Corporation of Gurugram (MCG) has laid out a plan to enhance the management of construction and demolition (C&D) waste within the city. During a recent review meeting with the Commission for Air Quality Management (CAQM), officials announced that a new processing plant, capable of handling 400 tonnes of C&D waste per day, is set to launch by February 2027. Currently, Gurgaon needs twelve C&D waste collection points, as per the guideline of one point for every 25 sq km. Right now, operational facilities can be found in Basai and Begampur Khatola, and officials confirmed…

IndustryLatest Stories

Maharashtra Reduces Land Survey Fees, Imposes Timelines

NAGPUR: The Maharashtra government has announced significant changes to land survey charges and procedures, aiming to reduce fees for family partition measurements and establish fixed timelines for completing surveys. These reforms are designed to alleviate public grievances and enhance administrative accountability. Revenue Minister Chandrashekhar Bawankule has approved the new framework, which requires regular land surveys to be completed within 90 days and expedited surveys within 30 days. The government indicated that these changes are intended to tackle longstanding complaints regarding delays, lack of transparency, and alleged corruption in land measurement processes, which impact property transactions and inheritance disputes in both…

IndustryLatest Stories

Ahmedabad to Waive Property Tax for Public Parking at Malls, Hotels

AHMEDABAD: The AMC has introduced a tax-incentivized initiative aimed at alleviating traffic congestion in the city. This comes after directives from the high court to eliminate roadside parking in front of commercial establishments. The AMC has already issued notices to 200 prominent businesses, including malls, multiplexes, and luxury hotels, presenting a straightforward opportunity: a 100% exemption from property tax on parking facilities in exchange for making private basement parking accessible to the public. “The high court has determined that vehicles parked on public roads near commercial complexes fall under the responsibility of the property owners,” stated a senior AMC official.…

InfrastructureLatest Stories

Telangana Acts Against Illegal Construction and Dumping

HYDERABAD: In a bid to tackle the growing issue of illegal dumping of construction and demolition (C&D) waste amid swift urban expansion, the state government has tightened regulations on construction activities across three municipal corporations in the central urban area. As per the latest government order (GO), the state will restrict the issuance of No Objection Certificates (NOCs) and approvals for construction projects unless developers adhere to strict C&D waste management guidelines. Under the new regulations, any approval for buildings, layouts, or demolition activities will require a mandatory undertaking against illegal dumping, proof of partnership with authorized C&D waste recyclers,…

IndustryLatest Stories

India must boost affordable housing and rental reforms for $5.8T market by 2047: Report

NEW DELHI: A joint report by KPMG in India and NAREDCO indicates that India needs to refocus on affordable housing, rental reforms, and enhanced homebuyer protections for the real estate sector to reach an estimated value of $5.8 trillion by 2047. The report was unveiled by Union Housing and Urban Affairs Minister Manohar Lal Khattar during the NAREDCO Real Estate Conclave 2026. The study outlines four key policy areas for the sector: affordable housing, rental housing, robust homebuyer protection through the RERA-Insolvency and Bankruptcy Code framework, and improved implementation of the Real Estate Regulatory Authority. According to the report, urbanization…