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The supreme court has ordered the Haryana Urban Development Authority (HUDA) to stopped the construction of the Pinjore-Kalka Urban Complex. In the order, the court has told the Haryana government that ‘the entire land acquisition carried out in the area for developing the complex deserves to be quashed’. With this order the investors who have [...] Continue Reading »
The Surat Urban Development Authority has planned to increase the floor space index (FSI) on both sides of the Ring Road. This new idea will encourage the real estate developments in the areas by the ring road as SUDA has reserved 500 meters on both sides of the road for town planning schemes. In the [...] Continue Reading »
The Nagpur Municipality has decided to fast track the assessment work of properties in Nagpur. The work is pending for many years and this delay is causing a huge loss to the NMC. According to the Municipality there are 5.5 lakh properties in the city. It is necessary to reevaluate the properties in every five [...] Continue Reading »
The Haryana Urban Development Authority (HUDA) has revised the policy to grant the extension in time for the construction on institutional sites. In the new policy the total period of construction completion has been raised to seven years of which five years are with extension fee. Earlier, the total construction period was five years with [...] Continue Reading »
Real estate projects in all Tier II and III cities are attracting more PE investors to invest in realty projects in India. With the fund flow from the PE firms, the realty markets in smaller cities are growing much faster. Earlier, the PE firms were keen on investment in top metros in India, but now [...] Continue Reading »
The Himachal Pradesh high court has directed the state government to submit its report regarding efforts made by them to improve the condition of roads in the state. The road construction work taken by the government is going on a very slow pace. The residents of different areas are complaining about the same. The court [...] Continue Reading »
The Supreme Court had extended the stay on sand auctions in Vijayawada, so constructions of all projects in Vijayawada are suffering from the unavailability of sand in the area. Before the apex court issued the ban, the cost of sand was between Rs.3,000 and Rs.3,200. But soon after the ban was implemented the cost has [...] Continue Reading »
The urban development department of Nagpur has proposed to reserve 20 percent of private apartments for the low cost affordable housing program. The builders of the city have opposed the proposal saying that it is government’s responsibility to provide affordable accommodation for the economic weaker section (EWS) of the state. The builders also said that [...] Continue Reading »
LIC Housing Finance Ltd has planned to invest in the real estate market in Bangalore. For that purpose they have raised Rs 250 crore by a real estate private equity fund. According to a higher official of the equity firm, the amount is mostly raised from the institutional investors like banks and corporates. The equity [...] Continue Reading »
The Municipal Corporation of Nagpur has planned to introduce new modified NOC for the high rising apartments in Nagpur. The updated NOC needs to be collect by the new buildings with a height of over 25 meters. The standing committee will approve the new NOC structure for the fire safety. NOC from the fire safety [...] Continue Reading »
