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The Builders’ Association of India (BAI) has suggested setting up an independent regulator for the cement industry following recent developments. D L Desai of BAI trustee said that the regulator should have quasi-judicial authority. He said that Competition Commission of India’s penalty of Rs 6,300 crore on 11 cement companies last month for violating provisions [...] Continue Reading »
Noida Extension Flat Owners and Members Association, NEFOMA, a flat owners’ association in Noida, has decided to move to the Supreme Court to seek redress of their complaints related to the Noida Extension flats row. The Allahabad High Court had directed to stop development work in Greater Noida till the 2021 Master Plan is approved [...] Continue Reading »
Following the December 5, 2011 Supreme Court ruling directing all nursing homes and banks to move out of residential plots, the Noida Authority had directed them to shut operations. However, when being approached by the displaced nursing homes, the apex court directed the Noida Authority to allot land at reasonable rates within three months. In [...] Continue Reading »
The residents of Noida soon will have to pay water bill as per the meter reading instead of fixed rates. The Noida authority is considering a proposal to install water meters at all premises covering an area of 240 meter square or more. The main objective is to check the wastage of drinking water. Under [...] Continue Reading »
The Bhopal Municipal Corporation (BMC) seems to have taken up an active stand to address the civic issues ailing the city. Recently they carried out drive against illegal hoardings removing 14 hoardings from different places in the city. The BMC squad seized all the material required to set up a hoarding including iron rods and [...] Continue Reading »
The Haryana government has asked Maruti Suzuki to pay Rs 235 crore to the state government as enhanced compensation to the farmers for land acquisition as ordered by Supreme Court for its plant in Manesar. The company has been served three months notice and warned that the land allotted for the Manesar plantwould be taken, [...] Continue Reading »
Mangalore has witnessed slump in the residential property sales in the recent past. June-July month has seen a grave dip in the bookings. The slump seems due to reluctance of non-resident Indians to invest in property in Mangalore, , to invest in the properties here. Usually the NRIs account for 55-60 per cent of the [...] Continue Reading »
The AP State Disaster Response and Fire Services department has planned to tighten fire safety norms for the non-high-rise buildings. Hence, owners of non-high-rise buildings would have to obtain a license from the department for their property and have to pay a fee after providing fire-fighting equipment on their premises. The department will check the [...] Continue Reading »
Ghaziabad is fast becoming one of the hot spots of real estate growth in India. The reason being concerted effort put up by Ghaziabad Development Authority (GDA), UP Awas Vikas, the municipal authorities and various private developers to improve the social and physical infrastructure of the city . The city has witnessed an appreciation of [...] Continue Reading »
Due to an exceptional income of Rs 607 crore from properties sale, Hindustan Unilever said its net profit soared over two-fold to Rs.1, 331.19 crore for the quarter ended June 30 this year. The company has announced a net profit of Rs 627.16 crore for the same period previous fiscal. Company’s net sales surged to [...] Continue Reading »
