Cities
India’s economic slowdown is reflected in the realty sector in the last few months. Asia’s third-largest economy is growing at its slowest pace in nine years and slow consumer expenditure has hit the retail market and the mushrooming malls. Real estate prices and construction costs are rising but the retail business is not growing enough [...] Continue Reading »
With real estate prices skyrocketing in metros, some particular areas in the metros are witnessing more hike than the others. According to a study on realty prices in the metros over the last three years, the North Bangalore corridor, especially the areas around Hebbal, seems to be developing into a very high demand realty zone. [...] Continue Reading »
The Archaeological Survey of India (ASI) has asked the Delhi High Court to stop any constructions at the site where remains of a mosque was discovered. The ASI also told the court that the Delhi Police is responsible for the site protection. High court has already stopped the construction work and directed the civic authority [...] Continue Reading »
Mumbai could face serious water crisis as the Brihanmumbai Municipal Corporation (BMC) informed the city that its stock of water will last for only 124 days. At present, there is 10 per cent water cut in the city. The current usable water content available is only 62 per cent of what was available last year. [...] Continue Reading »
The Parliamentary committee has decided to summon officials of at least six Indian central ministries to seek their views to find ways to check water pollution. The Parliamentary committee has decided to summon the officials as the subject is not restricted to one ministry. According to the Parliamentary committee member Public Accounts Committee, officials of [...] Continue Reading »
Karnataka High Court rapped Bruhat Bangalore Mahanagara Palike, for its inaction against illegal constructions and saying that BBMP. A Division Bench headed by Justice D V Shylendra Kumar was hearing Public interest litigation (PIL) against former Chief Minister D V Sadananda Gowda accused of illegally constructing a commercial complex in a residential layout. The PIL [...] Continue Reading »
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 »
Taking an initiative; the Bombay Municipal Corporation (BMC) gained the right to levy a premium on transfer of its leasehold plots. The state legislative assembly approved a bill to modify the Mumbai Municipal Corporation (MMC) Act. The step is considered important that will impact redevelopment of over 41,000 properties in Mumbai. The bill provides levy [...] Continue Reading »
Refuting claims made by Praja Foundation, a voluntary organization that focuses on urban and civic issues, that cases of malaria and other sensitive diseases are on the rise in the city, the Brihanmumbai Municipal Corporation (BMC) has stated that malaria cases in the city have dropped drastically. The BMC has disclosed that the numbers of [...] Continue Reading »
The real estate scenario in Mumbai remains grim with fewer buyers showing interest in purchasing property, the number of unsold units in the Mumbai metropolitan region has shot up. As per records, unsold units touched 121.97 million sq ft by June 2012. Of the total unsold stock, about 25% is located in the western suburbs [...] Continue Reading »
