Growing Opportunities for Women in India’s Real Estate Sector

1/21/2025 11:18:00 AM

New Delhi, Jan 20 (PTI) Real estate remains one of the least inclusive sectors for women with only 70 lakh females among 7.1 crore workers employed in the Indian realty industry, according to a report. Realty firm Max Estates and In Tandem Global Consulting in a joint report 'Concrete change -- A Study of the Economic Impact of Better Pay Parity & Inclusion of Women in Real Estate' pointed out that the real estate sector has a long way to go in achieving inclusivity. "The Indian real estate sector stands at a crossroads. Poised for unprecedented growth, it remains burdened by challenges that prevent it from realising its complete potential. Women make up 48.5 per cent of India's population, out of which approximately 1.2 per cent female population is employed in real estate," the report said. Underrepresentation of women along with unequal pay across all levels of the workforce is one of the most pressing challenges the sector faces, it added. "Despite its role as a significant employment generator, the real estate sector remains one of the least inclusive sectors for women. Addressing gender disparities could unlock substantial economic benefits, enhancing productivity, innovation, and profitability," the report said. The real estate sector faces significant challenges related to workforce composition and gender disparity. "With approximately 71 million workers employed in the sector, only 7 million are women, resulting in a Female Labour Force Participation Rate (LFPR) of 25.1 per cent," the report said. It suggested that there is a need for targeted upskilling and training programmes to empower both blue-collar and white-collar female workers. Integration of technology and access to leadership roles are crucial in driving this transformation. Sahil Vachani, Vice Chairman and Managing Director of Max Estates, said, "We need to change our mindset and not accept the status quo. Leadership at the top must drive these changes aggressively. It's good for both society and business." With more inclusion and better parity, women can be the changemakers in the sector, said Shormishtha Ghosh, Founder and MD of In Tandem Global Consulting (ITGC). Source : Economic Times INDIA

Gurugram Takes Steps to Enhance Accessibility in Residential Areas

1/21/2025 11:17:00 AM

Gurgaon: Unauthorised gates in residential colonies will be razed. In a decisive move, the Gurgaon administration has announced strict action against Resident Welfare Associations (RWAs) installing unauthorised steel gates in licensed colonies and sectors under the Haryana Urban Development Authority. Deputy commissioner Ajay Kumar said on Monday, "The administration is committed to ensuring public safety and convenience. RWAs must comply with the rules. Unauthorised gates will be removed and violators will be held accountable." The action came after a meeting chaired by the DC, where it was revealed that several RWAs violated permissions by erecting gates instead of boom barriers, obstructing public access and posing serious challenges during emergencies. The DC directed the district town planner, enforcement (DTPE) to review all permissions granted for boom barriers and inspect sites for violations. RWAs found flouting norms will be ordered to dismantle the gates immediately. Failure to comply will result in demolition by the enforcement team. "Permissions for boom barriers are issued under strict conditions, including mandatory security personnel, CCTV cameras and regular inspections. Gates installed in violation of these rules will not be tolerated," DTP(E) Amit Madholia said. The issue gained urgency after ACP (DLF) Vikas Kaushik reported several complaints from residents. It was highlighted that some RWAs install gates, lock them at night and take the keys, creating significant inconvenience during emergencies. Such practices have led to situations where residents struggled to access roads in critical moments. The administration emphasised that permissions for boom barriers are aimed at enhancing security while maintaining public access. The DC has put pending applications for new boom barrier permissions on hold until a thorough review of previously granted permissions is completed. A special inspection team will be formed to verify compliance with existing rules. RWAs found installing gates without permission or violating conditions will face immediate action, including removal of the gates and potential penalties. The crackdown signals the administration's resolve to enforce urban planning regulations and address public grievances. With inspections beginning soon, RWAs are advised to voluntarily dismantle unauthorised gates to avoid enforcement measures. Source : Times of India INDIA

Chandigarh to Unveil Ambitious Infrastructure and Housing Projects in FY25-26

1/20/2025 11:25:00 AM

Chandigarh: More than 600 new houses are among a slew of major developmental works planned by the UT administration in the coming financial year. In addition to govt housing, the UT engineering department has included the construction of the new DC Office in Sector 17, four new auditoriums in city colleges, hostels, elevated road connecting Khudda Lahora to Sarangpur, new box culverts at Bapu Dham, and two new railway underbridges (RUB) at Kishangarh and Chandigarh-Baltana border. In the education sector, the engineering department will take up the construction of new hostels like in CCET, and the upgradation of four auditoriums will be done in different higher educational institutions. The auditoriums, including two heritage ones, in govt colleges are set for major upgradation at a cost of around Rs 50 crore. Two auditoriums, having a heritage status, in Post Graduate Government College for Girls, Sector 11, and Post Graduate Govt College, Sector 11, will be upgraded. The development of the Police Training Centre in South Campus and IRB in North Campus, Sarangpur, is another big-ticket infrastructure project. The Rs 98-crore project will be spread over 30 acres. "It will comprise hostel blocks having separate hostels for both male and female candidates. Space has been reserved for the officers' quarters within the complex. Also, with emphasis on physical fitness and training of the cadets, the facility will have a stadium," said a UT official. The complex will have a theatre and seminar hall, multipurpose indoor games hall, parade ground, and obstacle course for the training of the cadets. In addition to these, there will be two administrative blocks, an armoury block, and a healthcare facility within the campus. The new state-of-the-art DC building will cost around Rs 125 crore, and construction will start in the new financial year. Major Push to Govt Housing "There will be housing for the police department and general housing for the UT employees. Dhanas, sectors 20, 43, and 46 are identified as the locations for the construction of the houses. The financials and development plans are being prepared. Construction will start after taking requisite approvals, which is likely in the coming financial year," said a senior UT official. "There is very limited scope for redevelopment of the existing housing, so the administration has to focus on new developments," said the official. Around 150 houses are planned under the police housing project in Dhanas, besides 200 general houses in Sectors 43 and 46. To meet this demand, the available land parcels and existing old housing will be tapped into. Around 150 houses are planned on the land reclaimed after demolishing the sewermen colony in Sector 20, said the official. The colony spread over around 2-3 acres has 116 houses. The need for govt housing has increased tremendously in the city in the past few years. The demand pressure is not only from the UT but also from Punjab and Haryana. Currently, in all pool categories, there are 13,825 housing units. Of these, 11,923 are in the general pool category and 10,989 are allotted. In several categories of houses, particularly in the type 10, 11, 12, and 13 categories of houses, the demand is much higher than the housing available. Source : Times of India INDIA

Gurugram’s DLF Phase 1 Moves Towards Compliance with 280+ Properties Adressed

1/20/2025 11:23:00 AM

Gurgaon: In another crackdown on unauthorised constructions and illegal commercial activities in residential properties, the district town planner (enforcement) of the town and country planning department issued show-cause notices to 258 properties in DLF phase 1. The enforcement team initiated the process of affixing these notices on the identified properties. Earlier, a survey of 3,658 properties in DLF phase 1 revealed violations in 301 houses. According to the department, these violations pertain to unauthorised construction and misuse of residential spaces for commercial purposes. As per an affidavit filed by the department in the Punjab and Haryana High Court, over 4,000 properties across DLF phases 1 to 5 were identified for similar violations. Notices are being issued, and the process is nearly complete in phase 1. DTP (enforcement) Amit Madholia said that DLF phase 1 comprises 43 Economically Weaker Section (EWS) plots and 3,615 general category plots. Of these, violations were found in 20 EWS and 281 general category properties. Notices were served to 20 EWS and 238 general category properties, while 29 cases are currently sub judice with a stay on action. Source : Times of India INDIA

Gurugram: ED Recovers Assets Worth Rs68.59 Crore in Vatika Limited Case

1/18/2025 11:13:00 AM

Gurgaon: The Enforcement Directorate (ED) has provisionally attached nine immovable properties — including approximately 27.36 acres of agricultural land — valued at Rs 68.59 crore in connection with a massive builder-investor fraud case involving Vatika Limited. The action was taken under Prevention of Money Laundering Act (PMLA), 2002, highlighting the alleged exploitation of over 600 investors. The ED investigation follows multiple FIRs lodged in 2021 by the economic offences wing, Delhi, against Vatika Limited, its promoters Anil Bhalla and Gautam Bhalla and others. The charges include criminal conspiracy, cheating and dishonestly inducing investors and homebuyers. The ED said Vatika Limited lured investors into paying for future projects by promising high returns, including assured payments during construction and lease-rent returns post- completion. However, the company allegedly failed to honour these commitments, halting assured returns and delaying the handover of units. The investigation revealed significant procedural lapses by Vatika Limited, including non-renewal of licences from the department of town and country planning and failure to complete projects within stipulated timelines. These irregularities left investors stranded, with no legal recourse or possession of promised units. The projects under scrutiny include Vatika Inxt City Centre Tower D, E & F (Gurgaon), Vatika Mindscapes Tower-C (Faridabad), Vatika Towers Tower-C (Gurgaon) and Vatika High Street (part of V'Lante, Gurgaon). More than Rs 248 crore was collectively invested in these projects, some of which have been delayed for up to 12 years. Despite repeated promises, the company neither completed the projects nor executed conveyance deeds for the affected investors. This development marks a significant step in holding real estate defaulters accountable. The ED's action sends a clear signal against fraudulent practices in the real estate sector, which have trapped countless homebuyers and investors. Source : Time of India INDIA

Gurugram : Administration Seeks Builder’s Response on Chintels Paradiso Residents’ Concerns

1/18/2025 11:12:00 AM

Gurugram, The district administration has paused its decision to vacate three towers of a Gurugram society that have been "deemed unsafe" and sought a reply from the builders on objections raised by the residents, officials said on Friday. Residents and builders of Chintels Paradiso in Sector 109 are locked in a dispute regarding the specifics of the reconstruction of several towers of the housing society, after six floors of Tower D collapsed partially on February 10, 2022, killing two women residents. A structural audit of the buildings by the IIT-Delhi declared almost all towers as "unsafe". Residents of the society and Residents Welfare Association held a meeting with officials under the chairmanship of Gurugram Deputy Commissioner Ajay Kumar, an official said. Hearing objections raised by the residents, authorities have halted the implementation of its order to vacate towers A, B and C of Chintels Paradiso, the official said. After the developers respond to the objections, a final decision on vacating these towers will be taken by the Structural Audit Committee, the official said. At the meeting, RWA representatives alleged that while the Supreme Court has ordered the reconstruction of the society, the builders are "pressurising flat owners" to enter into an agreement. "Residents, who are not signing this agreement are not being paid rent despite vacating the flat. About 40 families are facing financial problems due to this," a representative of the RWA said in the meeting. The Supreme Court had earlier said that residents are entitled to be paid an amount in lieu of alternate accommodation they will need after vacating the buildings. At the meeting, the RWA also made three other demands: that towers A and B be declared premium towers; the builder's condition that flat owners should pay ₹1000 per square feet for the reconstruction of towers A, B be removed; A, B and C towers should be revalued at current market rates . The RWA also shared copies of orders of courts in Delhi, Chennai and Gurugram on similar matters to make their case. They cited the case of NBCC Green View Society located in Sector 37D, Gurugram, saying the Haryana Real Estate Regulatory Authority had ordered that owners who vacated their flats during its reconstruction be paid rent for alternate accommodation. Officials have asked the RWA to submit their objections in writing, following which a reply will be sought from the developers. A committee will then be formed to take final call on vacating the three towers. Source : Time of India INDIA

Delhi RERA to Introduce New Guidelines for a Transparent Real Estate market

1/17/2025 11:38:00 AM

NEW DELHI: Delhi real estate regulatory authority (Delhi RERA) in coming weeks will issue new set of guidelines for builders and other stakeholders, informed Anand Kumar, chairman of the authority. Kumar was speaking at NAREDCO's Delhi chapter conference held on Thursday. During the conference, Harsh Vardhan Bansal, president, NAREDCO Delhi discussed appointment of various sub committees for Delhi chapter and took feedback and suggestions for the LG task force. Kumar further stated that there are several builders who are marketing and advertising real estate projects on super built-up area instead of carpet area. "Under the new guidelines, we will enforce that all projects' advertisement and marketing mentions carpet area. Builders must inform buyers about the actual size of property they are getting," he said. Kumar further stated that there are several builders who are marketing and advertising real estate projects on super built-up area instead of carpet area. "Under the new guidelines, we will enforce that all projects' advertisement and marketing mentions carpet area. Builders must inform buyers about the actual size of property they are getting," he said. RERA chairman said that he is in favour of extending the exemption from GRAP measures to all registered projects and they can give a representation to CAQM for this. representation to CAQM for this. "We do not give extensions if the GRAP measures have been applied for less than three days, but if they are more than that, we are willing to extend extensions to projects provided all necessary papers have been submitted.” He warned builders who are yet to registered projects with Delhi RERA. "We will take strict measures against builders who are yet to register projects with the authority. I will urge NAREDCO Delhi to ask all its members and other builders to register their projects. We are monitoring projects across Delhi and will be taking actions soon." Kumar said that the authority is willing to listen to grievances of the real estate fraternity and pass the suggestions to the central government for the betterment of the industry. Source : Times of India INDIA

Haryana Government Addresses Concerns Over Illegal Buildings in DLF Areas

1/17/2025 11:37:00 AM

Gurgaon: Haryana govt has told the Punjab and Haryana high court that many illegal buildings identified in DLF phases 1 to 5 could not be sealed because of legal tangles. During a hearing on Wednesday, additional advocate-general Ankur Mittal — representing the town and country planning department — highlighted significant enforcement challenges. According to him, many property owners had moved local courts after getting demolition notices from the govt, affecting enforcement on the whole. He informed the court that DLF areas alone had 227 pending cases in local courts, with stays granted in 167 instances. The case was initiated in 2021 by the DLF City Residents Welfare Association (RWA), which highlighted large-scale unauthorised constructions and misuse of residential properties for commercial purposes. During the last hearing on Jan 10, the govt referred to a recent survey conducted by DTCP, highlighting that 4,183 residential properties in DLF areas had been identified for illegal constructions and carrying out commercial activities. According to the report, 83% of these violations were found in economically weaker section (EWS) category plots, measuring 60 square yards each. The govt had then told the HC that showcause notices and restoration orders would be issued to all these property owners by Jan 31. As part of initial enforcement, occupancy certificates (OCs) of 81 properties in Phase 5 were revoked, and water and sewer connections disconnected, the court was told. On Wednesday, the bench of Justices Sureshwar Thakur and Vikas Suri expressed strong dissatisfaction over the limited progress in addressing these violations. The court emphasised the severity of the situation, particularly noting the widespread regulatory violations and ineffective enforcement mechanisms. The court also sought to know if the surveyed illegal structures could be regularised under existing compounding regulations. It scheduled the next hearing for Jan 23 and asked DTCP to submit a detailed response by then. The verdict in this case could stand as a precedent for owners of other residential buildings running commercial activities from their premises. Source: Times of India INDIA

DTCP Takes Action to Ensure Compliance in Gurugram's DLF 3

1/16/2025 11:31:00 AM

Gurgaon: The enforcement wing of the department of town and country planning (DTCP) has intensified its crackdown on illegal constructions and unauthorised commercial activities in residential properties of DLF 3. In a recent action, 300 additional notices have been issued, bringing the total to 1,438. DTP enforcement officer Amit Madholia said, "The notice issuance process is ongoing and our actions are aligned with the high court's guidelines and the submitted action taken report." "We are committed to restoring compliance in the area and ensuring accountability from all defaulters," Madholia said on Wednesday. Notices are being systematically pasted on the properties, with 1,100 notices already displayed to ensure compliance with zoning regulations. According to officials, the survey conducted across DLF Phases 1 to 5 revealed violations in approximately 4,200 properties. DLF Phase 3 emerged as a major hotspot, particularly the economically weaker section (EWS) housing segment, where over 83% of the units were found in violation of norms. These violations include illegal constructions and the use of residential properties for commercial purposes. The DTCP aims to complete the process of issuing and pasting notices by Jan 31.Following this, restoration orders will be issued, allowing violators a grace period of 7-10 days to comply. Source : Times of India INDIA

Jaiprakash Associates Receives ₹12,000 Crore Acquisition Offer from NARCL

1/16/2025 11:29:00 AM

The National Asset Reconstruction Company Ltd (NARCL) on Tuesday (January 14) has emerged as the sole bidder to acquire Jaiprakash Associates Ltd's (JAL) loans, valued at ₹12,000 crore, from its lenders, sources privy to the developments told CNBC-TV18. Sources close to the development said that no other bidders participated in the Swiss Challenge auction conducted on January 14, 2025, by IDBI Capital on behalf of an SBI-led consortium. NARCL's offer, which served as the reserve price for the auction, includes a payment structure of 15% upfront cash and 85% in security receipts, sources in the know told CNBC- TV18. With no competing bids, lenders will now consider NARCL's offer and proceed with seeking approvals from their respective boards or committees for the loan sale, said people familiar with the matter. Jaiprakash Associates has admitted claims totalling ₹52,073.79 crore under the Insolvency and Bankruptcy Code (IBC). The resolution of Jaiprakash Associates has been stuck for over seven years since RBI first identified it as one of the large stressed accounts to be sent to the NCLT for resolution under the insolvency and bankruptcy proceedings in 2017. JAL was finally admitted into the NCLT last year in June and is facing claims of ₹52,073.79 crore from 22 lenders. While that process runs in parallel and is already facing litigation- related delays, lenders are losing patience and therefore looking to offload the asset to an ARC for faster recovery. Source : Times of India INDIA

Delhi LG Reviews Progress of Noida International Airport: A Boost for Connectivity

1/15/2025 12:03:00 PM

Noida: Delhi's Lieutenant Governor (LG) Vinai Kumar Saxena visited the Noida Airport site in Jewar on Monday to review its progress and understand the large-scale land acquisition process for the airport and other development projects in the region. He also praised the Uttar Pradesh govt for the rapid development of the airport within a short timeframe. Accompanied by his team, including secretary Surendra Singh and other officials, Saxena, who also serves as DDA chairman, arrived at the airport site around 11:45am. He was welcomed by Jewar MLA Dhirendra Singh and other officials. Yamuna International Airport Limited (YIAPL) CEO Christoph Schnellmann provided an update on the airport's progress, while Noida International Airport Limited's (NIAL) nodal officer Shailendra Bhatia briefed him on various connectivity plans to the site. The focus of the visit was on the dispute-free land acquisition process for the airport, with officials explaining the measures taken under the Land Acquisition Act to ensure smooth transactions. They also highlighted the benefits provided to farmers and the approach of securing their consent before acquisition. LG's secretary described the visit as a knowledge-sharing exercise aimed at understanding the best practices implemented in the land acquisition and development of the greenfield airport project. He emphasized the importance of such insights for urban development in the NCR, given the LG's role as chairman of the DDA. Officials noted that coordination among NCR govt bodies is crucial for effective urban planning, and such visits can positively impact decision-making processes. "During the visit, the LG also toured the Medical Device Park in Sector 28 and was briefed on other key projects, including the proposed International Film City, Raya Heritage City, New Agra Urban Center, Apparel Park, Toy Park, and Semiconductor Park. Yamuna Authority officials delivered presentations on these developments," said Bhatia. Source : Times of India INDIA

Haryana CM’s Big Announcement: 100 Sq Yard Plots for Eligible Families Soon

1/15/2025 12:02:00 PM

Chandigarh: Haryana chief minister Nayab Singh Saini on Tuesday said that the state govt would provide housing facilities to all underprivileged families under the Mukhyamantri Gramin Awas Yojana and Pradhan Mantri Gramin Awas Yojana. The allotment of 100-square-yard plots to eligible individuals would be carried out in phases, said Saini while chairing a review meeting of the housing for all department held at the secretariat here. Under the scheme, plots will be given in developed colonies with all essential amenities, similar to urban areas. An allocation of Rs 100 crore has been made. The CM directed the officers to ensure that eligible families were provided the option of financing the amount for flat or plot allotment through banks. This will ensure that no eligible family is deprived of the scheme's benefits, even if they are unable to make a lump sum payment. Under the schemes, all eligible families in the state who do not own a house, land to build a house, or a flat, and whose annual income is less than Rs 1.80 lakh, have been identified. Under the Mukhyamantri Gramin Awas Yojana, over 5 lakh people applied for 100-square-yard plots, and all eligible beneficiaries would soon receive their plots in phases. Similarly, under the other scheme, 50-square-yard plots would be allotted in mahagram panchayats. Under the Mukhyamantri Shahri Awas Yojana, more than 2.89 lakh families living in cities who do not own a house and have an annual income of less than Rs 1.80 lakh, have applied, with 1.51 lakh individuals for plots, and 1.38 lakh for flats. Last year, provisional allotment letters were issued to 15,256 applicants. Source : Times of India INDIA

DTCP Issues Notices for Building Code Violations in DLF Areas of Gurugram

1/13/2025 12:08:00 PM

Gurgaon: Owners of properties across DLF 1-5 have been issued notices after a survey found illegal construction and commercial activities being carried out at 4,183 houses in the area, the department of town and country planning (DTCP) has told the Punjab and Haryana high court. The department said it has already issued 1,138 notices to property owners in DLF-3, and more notices will be sent. Homeowners will get time till Jan 31 to restore the sanctioned property designs and shut down all illegal commercial activity by then. If they don't, the next step would be demolition and sealing drives, the department said. This action comes after a survey found rampant illegal construction and commercial activities across DLF. A majority – 83% - of the violations were seen in EWS category plots of 540sqft. District town planner (enforcement) Amit Madholia told TOI on Sunday that the most violations were seen in DLF-3 and DLF-5. "In phase 3, unauthorised construction extends up to seven or eight storeys, with properties being illegally used as PG accommodations and guesthouses. Similarly, phase 5 has witnessed a surge in commercial activities within residential spaces," he said. DTCP submitted this information to the high court on Jan 10. The single-judge bench of Justice Sureshwar Thakur is hearing a plea filed by the DLF City RWA in 2020. The petition sought action against large-scale unauthorised construction and misuse of residential properties for commercial purposes. Officials said the department, in its latest submission to the HC, outlined its progress and planned steps to tackle illegal construction and assured the court that all necessary action is being taken. Till now, the department has revoked occupancy certificates (OCs) that were granted to 81 properties in DLF-5. The management, DLF, also disconnected water and sewer connections to these properties. Still, such measures have not deterred property owners from illegal construction. Officials said that between 2010 and 2024, the department carried out 44 demolition and sealing drives across the five phases of DLF. "A major challenge has been legal hurdles. After sealing or demolition, property owners often approach the district court for relief. Currently, 227 cases related to DLF 1 to 5 are pending in various courts, with 167 cases under court-ordered stay. This legal gridlock has slowed down enforcement measures, allowing violators to continue their activities unabated," said a senior town and country planning official. DTP Madholia said the enforcement wing of the department will complete the process to issue show-cause notices and restoration orders this month. "Progress reports have been submitted to the high court. The next hearing is scheduled for Jan 15," he said. Source : Times of India INDIA

Property Allottees Bear Significant Costs Due To Glitch at Chandigarh Estate Office

1/13/2025 12:08:00 PM

Chandigarh: A critical error by the UT estate office has resulted in significant consequences for property owners. Numerous allottees are facing difficulties in removing their properties from the ‘resumed' category. The incorrect tagging of properties during the digitalisation of records has created substantial challenges, with owners spending years attempting to correct these errors. A Sector 35 resident, who wished to remain unnamed, said, "After the death of my father, when we decided to transfer the property from my father's name to the children, we discovered that the property was being shown as resumed in the online records of the estate office." This occurred in early 2023. "After we contacted the estate office, it took them nearly four months to acknowledge that the property was mistakenly shown as resumed. The data of a resumed property in a different sector was uploaded in the name of my father. Now it is January 2024, but the information is yet to be rectified as our file is still being processed. We can pursue the process of property transfer only after the information is corrected." A Sector 22 property owner dealing with similar record corrections noted, "People are not aware of the process to get information corrected. They are at the mercy of the officials for getting this job done. The digitisation process, which was to bring relief to allottees in dealing with the estate office, has in fact created more problems for the residents." Kamal Gupta, president, Property Consultant Association Chandigarh, said, "This ‘glitch' in the digital records of the estate office is a major source of harassment for the city residents. It takes a year or even more for the record to be rectified. There are multiple levels through which an allottee file has to pass, including a committee of officials, before it reaches the desk of the estate officer, and only then does the record get corrected." Gupta says a bigger concern is that many allottees are oblivious to the fact that their properties are ‘resumed' in the estate office records. "Only a few check the online estate office records, generally when they want to pursue the transfer of property. What happens, say several years down the line, if the hard copies of the records are not available? What will the estate office and allottees do then? The estate office must address the problem." Genesis Of The Problem An official explained, "Around a decade ago, when the work on computerisation started in the estate office, mistakes were made in making online entries in the new software about property records. Instead of a single entry, double entries were made. In many instances, even though a property was not resumed, it was shown as a resumed property. The tagging occurred in hundreds of commercial and residential properties." The situation's severity became apparent when over 250 cases emerged during grievance camps held in December 2023. Despite instructions for developing standard operating procedure (SOP) for resolving the issue promptly, corrections remain time-consuming. Gupta says, "Only the 200 odd cases that were highlighted during the camp were promptly resolved, but for most others, it is still a long-drawn process." Official Response Nishant Kumar Yadav, deputy commissioner-cum-estate officer, said, "We will hold special camps for speeding up the process of rectifying such data. We will also examine the process to rectify the data at our own end so that the allottees don't face any delay or harassment." Source : Times of India INDIA

Allahabad HC Urges Fair Action in YEIDA’s 100-Acre Land Case

1/11/2025 11:10:00 AM

Noida: The Allahabad high court earlier this month criticised YEIDA for an "inconceivable" order that cancelled allotment of a 100-acre plot to a developer for not paying dues even though the authority had not acquired the land and failed to meet its own "contractual obligations". The HC's Lucknow bench of Justice Pankaj Bhatia, in its ruling on Dec 18, quashed the cancellation order and told the authority to issue another allotment letter to the developer. It also overturned UP govt's rejection of the revision appeal filed by the developer. The court noted that YEIDA was yet to acquire around 21% of the land allotted to the developer. "It is strange that, on the one hand, the respondent no.2 (YEIDA) accepts that it did not have the actual physical possession of the property free from encumbrances at the time of issuance of allotment letter and it still does not have the actual possession of the entire land. On the other hand, respondent no.2 is insisting on fulfilment of reciprocal promise by the petitioners," observed Justice Bhatia. The allotment dates to 2010, when the Yamuna Expressway Industrial Development Authority (YEIDA) awarded a 100-acre plot in Sector 22D to Adore Infrasmith, a consortium of firms. In Dec that year, the authority issued a reservation letter that calculated the total premium for the plot to Rs 192 crore. Months after the developer paid 10% of the premium, YEIDA – in June 2011 – issued an allotment letter. This letter also gave details of the additional 5,869sqm of land sought by the developer at a cost of Rs 2.8 crore. Adore Infrasmith was asked to pay this additional amount and 20% of the premium, Rs 38.4 crore, by Aug 18. The developer paid Rs 2.8 crore for the extra patch of land, but it withheld 20% premium over concerns the authority had not acquired the entire 100 acres allotted to it. On July 19 and Aug 4, the developer wrote to YEIDA, seeking clarifications about the land's availability and possession while referring to the ongoing farmers' protests in the area. YEIDA did not respond to the developer's queries. Instead, on Sept 8, the authority extended the payment deadline but imposed interest on the outstanding amount. In Nov, YEIDA's board decided to set the deadline of Jan 31, 2012, for all developers allotted land under the township scheme to clear their dues. In the meantime, Adore Infrasmith kept raising its concerns but did not get any clarity. The deadline went by, and on Feb 1, 2012, YEIDA cancelled the allotment and said that the amount that was paid by the developer was forfeited. Adore Infrasmith challenged the cancellation order and the Allahabad HC in March issued an interim stay, asking YEIDA not to allot the land to any other developer. During legal proceedings, the developer argued that YEIDA's cancellation order was unjustified as it had not acquired the entire 100-acre plot. The authority continued to acquire patches of this land between 2011 and 2017, it said. Subsequently, the developer filed a revision petition with the state govt and withdrew the initial writ petition. The process went on for years, and UP govt on June 20 this year dismissed Adore Infrasmith's petition. Adore Infrasmith again approached the HC's Lucknow bench on Aug 9, 2024. Hearing the case, the HC found that YEIDA had breached the terms of its contract by issuing an allotment letter without acquiring possession of the land. "It is inconceivable as to how the respondent no.2 (YEIDA) was (not) in possession of the property prior to the issuance of the allotment letter. It is inconceivable that the possession is not transferred and the demand for the balance money is made...," Justice Bhatia said. Adore Infratech also informed the HC that it was willing to proceed with the allotment for the land already in YEIDA's possession and pay the amount as per the reservation letter. For the land yet to be acquired, the developer requested that all steps be deferred till the authority secures possession. The HC ruled in favour of the developer and directed YEIDA to issue a fresh allotment order within two weeks, indicating the payment terms for 20% of the premium. Adore Infrasmith was then granted 60 days to deposit the 20% premium amount, while the remaining premium and 12% simple interest on delayed payments since June 20, 2011, were to be paid in instalments. The court also told YEIDA to execute a lease deed and hand over possession of the land within one month of receiving the 20% premium. Source : Times of India INDIA

Panchkula Special Court Moves Forward with Money Laundering Trail Against M3M Directors

1/11/2025 11:04:00 AM

Chandigarh: In a blow to two directors of the M3M group, a Panchkula special court for the Prevention of Money Laundering Act (PMLA) cases has rejected their request to pause proceedings in a money laundering case tied to former CBI (Central Bureau of Investigation) judge Sudhir Parmar's alleged corruption. Judge Rajeev Goyal dismissed the plea by Basant Bansal and Pankaj Bansal on Monday, noting that the Anti-Corruption Bureau (ACB) had completed its investigation. The directors had argued that the trial should be deferred until the ACB finalised its inquiry. The ACB submitted in the court that while the investigation was complete, it awaited permission to file chargesheets. The Directorate of Enforcement (ED) also opposed the stay request, leading the court to proceed with the trial. The case stems from corruption charges registered by the ACB in April 2023 against Parmar, M3M directors, and others. Following these charges, the ED launched its own probe, resulting in the arrests of the Bansals, Parmar, and his nephew. The ED has filed a chargesheet already to initiate trial proceedings. The ACB has sought authorization separately from the Punjab and Haryana high court to proceed with its chargesheet against Parmar and others. The court has set a new hearing date for another application filed by the Bansals. Source : Times of India INDIA

Noida: Farmer Halts Unitech's Road Construction for Express City Project

1/10/2025 12:12:00 PM

NOIDA: A farmer has stopped Unitech from constructing a road for its Express City project claiming a 7,000 square metre plot that falls within the developer's housing projects in sectors 96, 97, and 98 is owned by him and never acquired by Noida Authority. Construction at the project, which has been delayed by nearly a decade over financial and operational troubles within the company, had resumed in Sept last year after the Supreme Court replaced the company's management with a board of directors in 2020. Two group housing projects — Amber and Burgundy — and The Willows 1 and 2 offering developed plots are to come up on the 344-acre land parcel that was allotted to Unitech in 2006. The original layout of Express City — Unitech Golf and Country Club Grande — that was approved by Noida Authority in Aug 2008 proposed to include high-rise towers around a centrally located 9-hole golf course. Possession of units was initially promised by 2013. On Thursday, Sukhpal Singh of Sadarpur village told TOI that he had flagged earlier that his plot was located within the boundary of the Unitech project, and subsequently, the district administration demarcated his plot within the premises in 2016-2017. Since then, his plot remained undisturbed, largely because of the stalled construction work. The 7,000 sqm plot is part of The Willows project, which requires basic infrastructure, including roads, sewer lines, and drainage. "My demand is that either an approach (road to my plot) is provided, or my land parcel is shifted to another portion of the project along the existing road where Unitech has no issue. Since the allotment, we were not able to do farming on this land. But, at the same time, Unitech also did not interfere," Singh said. Singh said during a routine visit to inspect his plot on Thursday, he noticed soil was being excavated for the construction of a road. The 60-year-old farmer stopped the work and wrote to the district administration, asserting that his land was not acquired and that Unitech's activities were causing him "undue trouble". YS Malik, chairman of Unitech's Supreme Court-appointed board, said, "The land is part of the lease deed, and possession was handed over to us. We have been raising the issue of this land parcel with the Noida Authority since 2021. I wrote at least three letters flagging this issue. For the time being, we will continue work in other portions, leaving this aside. But Noida Authority has to come forward and resolve the issue." Noida Authority CEO Lokesh M said the Authority would look into this issue. The Authority has approved 818 housing units on 164 acres of the project, with 180 acres in the second phase yet to be developed. Around 5,500 homebuyers have bought flats and villas in these projects and are awaiting possession for 10 years now. Source : Times of India INDIA

High Court affirms decision to summon Krrish Buildtech's Managing Director in Gurugram land scam

1/10/2025 12:11:00 PM

Chandigarh: The Punjab and Haryana high court has made it clear that the special CBI judge has the power to summon an individual as an accused if it finds sufficient incriminating evidence against them even though they are not initially included as an accused by the investigating officer in a criminal case. The HC passed these orders while upholding the order to summon Amit Katyal, managing director (MD) of Krrish Buildtech Pvt Ltd (now Brahma City Pvt Ltd), by the special CBI court in Panchkula. This is in connection with a land scam case in Gurgaon, in which former Haryana chief minister Bhupinder Singh Hooda is also an accused. According to the HC, there is sufficient incriminating evidence requiring Katyal to face trial along with other co-accused. "Prima facie, this court found incriminating evidence against the petitioner, who, since the inception and till the end, played an active role in conspiracy with the other co-accused, not only to obtain LOI but also to execute the collaboration agreements, special power of attorney, general power of attorney, with the erstwhile landowners, and caused a huge financial loss to them," the HC observed. Justice Kuldeep Tiwari passed these orders while dismissing the petition filed by Amit Katyal. He challenged the order dated March 9, 2021, passed by the special CBI judge in Panchkula, summoning him as an additional accused to face trial in the case. The allegation against Katyal is that he, along with other accused, developed a plotted colony on 151.569 acres of land in sectors 60-63, Gurgaon, by releasing 130.256 acres of notified land from the acquisition proceedings. Popularly known as the Ullahwas land scam, the case involves the government led by Bhupinder Singh Hooda, which released around 95% of the 1,417-acre land to private builders and granted licences for developing housing projects. Out of the total 1,400 acres of land, only around 87 acres remained with the Haryana Urban Development Authority (HUDA, now HSVP). This land was proposed for public utilities such as a hospital, power station, fire station, and police station, primarily benefiting private builders. The acquired land was in villages of Badshapur, Behrampur, Nangli Umarpura, Tigra, Ullahwas, Kadarpur, Ghatta, and Medawas in Gurgaon. In Nov 2017, the Supreme Court directed the CBI to register a case, and on Jan 23, 2019, the CBI booked Hooda and others, including bureaucrats, officers and builders. The trial of the case is pending before the special CBI court in Panchkula. Source : Times of India INDIA

Noida: Director of Himalaya Infraventure Arrested in YEIDA Land Scam Case

1/9/2025 12:20:00 PM

Noida: The director of a real estate firm linked to a former YEIDA official was arrested on Wednesday in connection with a case related to irregularities in purchasing land in Hathras by the authority over a decade ago. Police said on Wednesday that Vivek Kumar Jain, director of Himalaya Infraventure Pvt Ltd, was arrested after being interrogated. Jain had founded the company with his friend, who is the brother-in-law of former YEIDA officer on special duty VP Singh. VP Singh is among the accused named in the case. The case against Jain was filed in 2019 on a complaint by inspector Gajendra Singh in Beta 2 station. Twenty-nine people, including the then Yamuna Authority CEO PC Gupta, were named in the FIR. Police have filed charge sheets against 12 of the accused, including two tehsildars, in this case. The case came to light after assessment of land acquired by YEIDA over the years. In 2011-2012, the authority had acquired 42 hectares of land from farmers in Hathras. In compensation, YEIDA had to give 7% of developed plots to the farmers. For this, the authority needed 5 hectares of land, but in 2014, officials along with others allegedly conspired and bought 14.4 hectares of land in Hathras' Midhawali village. They spent Rs 16.5 crore on purchasing this land and paid an interest of Rs 7.7 crore. According to the investigation, the land that had to be purchased in Hathras was bought by third parties such as real estate firms, who were working with YEIDA officials, at cheaper rates. The authority then bought this land from the third party at inflated prices. Apart from the former authority CEO and OSD, the FIR names former additional CEO Satish Kumar, manager Brijesh Kumar and project manager Atul Kumar. Two tehsildars Ajit Paresh and Chaman Singh, firms ANG Infrastructure and Consultant, Parasol Agritech, and banks — Mahamedha Urban Cooperative Bank and Noida Commercial Bank Limited — are among others linked to the case. The accused have been booked under provisions of the Prevention of Corruption Act and IPC sections 120B (criminal conspiracy), 471 (forgery), 468 (forgery for cheating), 467 (forgery of valuable security, will, etc.), 420 (cheating) and 218 (public official framing incorrect record or writing). Police said this scam amounted to a loss of Rs 23.9 crore to the exchequer. Several accused in this case, including the former authority CEO, were initially booked in another land scam, worth Rs 126 crore. Source : Times of India INDIA

Delhi: Directors of Two Private Companies Arrested for Separate Fraud Cases Amonting to Rs 6 Crore

1/9/2025 12:19:00 PM

New Delhi: Delhi Police's Economic Offences Wing arrested the director of a private firm for allegedly duping 18 investors of Rs 3.2 crore. The accused, Rahul Kumar, promised the investors returns of 20-30% per month, claiming their investments would be used in a project developed by a firm in Khurja, Uttar Pradesh. However, he allegedly showed them a fake work order and used their money for personal gain. The case was registered on Nov 3, 2023 after a complaint was filed by Anil Kumar and others. "The investigation revealed that Kumar entered into five agreements with the investors between July 2021 and May 2022, promising them hefty returns. However, when they demanded their money back later, Kumar issued some cheques that bounced due to insufficient funds," a police officer said. Kumar, a BCA graduate from Meerut, incorporated his company in Delhi and started inducing people to invest in his firm. Police have identified 18 victims so far and further investigation is in progress. In another case, EOW arrested Chandra Shekhar Saxena, the chief managing director of a private firm, for allegedly cheating a non-banking financial company of Rs 2.7 crore. The accused obtained a loan from NBFC by showing a fictitious sale of a commercial unit at a mall in Gurgaon. According to police, Saxena entered into a builder-buyer agreement to purchase a commercial unit in the mall. He then approached NBFC for a loan, keeping the unit as collateral security. NBFC disbursed the loan amount, which Saxena later defaulted on, causing the loan account to turn into a non-performing asset. The investigation revealed that Saxena diverted the loan amount for personal benefits and also received Rs 50 lakh in the account of his firm. It was later found that there was no saleable space available in the mall when the agreement was executed. Saxena is a highly qualified individual and was allegedly involved in similar fraudulent activities in the past. He was also chargesheeted in another case of cheating and duping. Source : Times of India INDIA

Noida authority reclaims floodplain land worth Rs 480 crore from encroachers

1/8/2025 12:04:00 PM

Noida: Noida Authority and the district administration evicted encroachers from over 150 acres of floodplain area along the Hindon. The land, located in Sorkha village and valued at around Rs 480 crore, was occupied by colonisers who had constructed boundary walls and plotted the area for unauthorised sale. Authority officials said they received a tip-off about the encroachment and conducted a site inspection before launching a large-scale demolition drive with police support. The operation, carried out by officials of work circle-6 of the Authority, employed more than 50 personnel and was completed in around three hours. The recovered land is notably prone to flooding during monsoon, the officials said. CEO Lokesh M reinforced an advisory issued by the Authority on Oct 25, cautioning people against purchasing land in such areas without proper verification of legal status. He emphasised that unauthorised transactions often resulted in financial losses, as such properties were subject to reclamation by the Authority. It also sealed an unauthorised multi-storey building in Wajidpur village. The structure, erected on notified land already acquired by the Authority, was constructed without necessary permits. Despite multiple notices to the encroachers and a status quo order from the Allahabad high court in Aug last year, construction continued illegally. Although the encroachers submitted a fresh representation to the Authority following the HC order, it was rejected on Nov 4, 2024, after thorough examination. Last month, land records department officials requested police intervention to stop construction through a formal communication, but the illegal activities persisted. The Authority finally sealed the building on Tuesday with police assistance. SHO of Noida Expressway police station has been tasked with monitoring the sealed premises. The Authority has identified more than 200 unauthorised buildings and is preparing to initiate legal proceedings, including demolition and sealing operations. Source : Times of India INDIA

Noida authority directs Suraksha Realty to maintain Jaypee Kosmos till CCs issued

1/8/2025 11:57:00 AM

Noida: Noida Authority has directed Suraksha Realty, which took over all Jaypee Infratech Limited (JIL) projects through insolvency proceedings in May 2024, to take over the maintenance of Jaypee Kosmos in Sector 135 after the developer's subsidiary firm decided to cease its operations from Jan 1 and halt manpower and financial support for housekeeping and security services. The Authority, during a mediation meeting on Jan 6, warned of legal action if Suraksha did not provide the services till completion certificate was granted to the partially completed project. On Nov 22, Jaiprakash Associates Limited-Facility Management Group (JAL-FMG), which managed the society's maintenance since 2015, asked the society's apartment owners' association (AOA) to take over the housekeeping and related services. The AOA subsequently submitted a complaint with the Noida Authority expressing its inability to manage these services as the company did not transfer the bank accounts or the balance amount collected as charges paid so far by the residents towards such services. Residents also pointed out that several towers and electricity infrastructure in the project were still incomplete, and the agency has an outstanding water bill. "During the meeting, Suraksha said as the Kosmos project was nearly complete — its essential infrastructure, including power, plumbing, and sanitation facilities — and has an established AOA, they proposed handover to the residents' body. However, upon reviewing the situation, the ACEO of Noida Authority determined that the project was far from completion, making the handover proposal neither legally viable nor practically feasible at this stage," Brijesh Singh, a resident of the society, said. Suraksha also submitted that maintenance operations were running at a loss due to the AOA's resistance to raising service charges. Kosmos AOA submitted the complete Wish Town layout and highlighted that the condominium lacked green spaces. "Suraksha was instructed to provide a comprehensive breakdown of common areas within the Kosmos cluster, including community spaces, green areas, commercial zones, healthcare facilities, and roads and transport infrastructure, which would undergo Noida Authority verification," Pushkar Singh, another resident, said. Source : Times of India INDIA

Chandigarh Municipal Corporation Seeks Private Companies for Property Management

1/7/2025 11:09:00 AM

Chandigarh: The worst-ever financial crisis in the Chandigarh municipal corporation (MC) has started to affect not only new initiatives, but is posing a serious challenge in the maintenance of its existing assets. The MC is now looking to private entities to maintain its properties. In a first such move, the civic body has floated an expression of interest (EOI) to hire interested bidders to maintain its five newly built community centres on a public private partnership (PPP) basis and make its 15 gyms functional, which are located in different sectors. Besides, the MC is also going to give the work to construct a new community centre in Sector 51 and also to make proper use of the 280-kilometre-long constructed underground duct in the city to lay down multiple service lines to private bidders. The community centres identified to be given for maintenance and running are the community centres of sectors 37, 38 (West), 40, 49, and 50. Since the EOI has already been floated by multiple divisions of the MC's engineering department, the paperwork and related process are expected to be completed by the end of this month. The MC did tedious paperwork to prepare the terms and conditions for initiating this first-of-its-kind exercise, so that clarity should be there between the MC and the bidder while maintaining and running the MC's properties. In the community centre EOI, the interested parties will be asked to book, operate, and maintain the community centres and take the earnings out of that. The bidder will give the concession fee to the MC. The concession period will be 20 years, which will be extendable for another five years. Moreover, for running around 15 gyms in the MC's community centres, the interested bidder will develop the gyms properly to make them in proper workable conditions, operate them, install all the necessary equipment for the members, and also carry out the repair work. The bidder will collect user charges of the gym as its revenue. In case of the gyms, the period of the contract will be three years, which will be extended for two years further as per the performance and working of the hired bidder. Source : Times of India INDIA

Delhi Court to Hear Petitions in DHFL Loan Scam Case on January 13

1/7/2025 11:08:00 AM

New Delhi, Jan 6 (PTI) A Delhi court is likely to hear on January 13 applications moved by five accused in multi-crore bank loan scam case involving Dewan Housing Finance Ltd's former promoter Kapil Wadhawan, seeking pardon and turning approver in the case. Special Judge Ashwani Kumar Sarpal posted the applications filed by accused persons -- Vivek Jayesh Thar, Malav Mehta, Gopal Dalvi, Rajen Vasant Kumar Dhruv and Arvind Kayan -- seeking pardon and for becoming prosecution witness for the next date, while directing them to provide additional documents to substantiate their claims. "Put up this application on January 13, 2025 for further consideration," the judge said in an order passed on January 4. The judge said mere fact that the prosecution has given no objection itself was not sufficient to allow the applications. The judge further clarified that the the statement given by the accused in support of their applications will not be used for any other purpose except for disposal of this pleas for the time being. In case the application of the accused is allowed and he is granted pardon, the statement filed alongwith the application can be used during inquiry or trial, he added. The FIR in the case was based on a complaint made by the Union Bank of India. The Central Bureau of Investigation (CBI) has alleged in the FIR that Dewan Housing Finance Ltd (DHFL), its then CMD Kapil Wadhawan, then director Dheeraj Wadhawan and other accused persons entered into a criminal conspiracy to cheat the consortium of 17 banks led by the Union Bank of India. The accused and others induced the consortium to sanction huge loans aggregating Rs 42,871.42 crore. Much of that amount was allegedly siphoned off and misappropriated by alleged falsification of the books of the DHFL and dishonest default in repayment of the legitimate dues of the consortium banks, the CBI claimed. The complainant alleged that a wrongful loss of Rs 34,615 crore was caused to the consortium banks in as much as such was the quantification of the outstanding dues as on July 31, 2020. The CBI had in October 2022 filed a charge sheet against more than 70 accused people, including the Wadhawans. Source : News Drum INDIA

Chandigarh Housing Board Ensures Fairness by Addressing License Fee Issues

1/6/2025 11:20:00 AM

Chandigarh: The Chandigarh Housing Board (CHB) has initiated enforcement measures against its allottees who defaulted on their outstanding licence fees. While the allotment of 126 small flats was revoked in December, the allocation of 29 additional similar dwellings was nullified in the first week of the new year. The CHB issued orders regarding this matter, implementing this action concerning the houses allocated under the Small Flats Scheme in Sector-49 and other localities. The 29 houses whose allotment was recently cancelled by the CHB have pending licence fees ranging from Rs 40,000 to Rs 1.50 lakh per unit. The allottees of these properties have been instructed to vacate the flats within a month and surrender possession to the board. The board recently published a rent defaulter list and urged allottees to settle their dues promptly, failing which their housing allotments will be cancelled. These flats were originally allocated to the allottees at a fixed licence fee. The baseline licence fee was Rs 800 per month, which underwent subsequent modifications. However, the majority of allottees failed to remit even this instalment, resulting in licence fees worth crores of rupees remaining outstanding with the board. In Chandigarh, while more than 18,000 houses were allotted under this scheme, currently more than 13,500 allottees have defaulted on their rental payments. Source : Times of India INDIA

Noida Authority Seeks State Support for Industrial and IT Growth

1/6/2025 11:18:00 AM

Noida: Noida Authority has decided to refer to the state govt cases of defaulting industrial and IT/ITES plots — allotted under both the industrial and institutional categories — and seek a resolution. The move will give one final chance to the defaulting plot owners to clear their dues and obtain functional certificates. The cases involve plots that failed to secure functional certificates despite the govt extending the deadline to Dec 31, 2024. The owners of most of these plots have either payments overdue or are yet to complete construction on them. In Dec 2023, the state govt had come out with an order extending the timeline for declaring industrial and IT/ITES plots functional to Dec 31, 2024. This order applied to plots that were not ready although more than eight years had elapsed — as of July 28, 2020 — since the execution of the lease document, or where the stipulated timeline in the lease document expired. Despite this extension, more than 80 industrial plots and around 90 in the institutional category failed to comply with the order. In a board meeting on Jan 2, the Authority reviewed the status of these plots. In the industrial sector, 206 plots were supposed to have been completed and had secured functional certificates by Dec 31. Of these, 114 plots are now functional. Four plots were cancelled due to liabilities or other issues, and eight are under litigation. However, 80 plots were still found to be non-functional, including 30 with overdue payments. Discussions with 21 of these allottees revealed that many were facing financial challenges and had requested payment plans based on instalments. Among the 88 non-functional plots (including the eight under litigation), 82 were found to have completed construction, three are under construction, and three are vacant because of litigation. In the institutional category — specifically IT/ITES plots — 107 land parcels were reviewed. Of these, 16 had obtained functionality certificates, while 91 were yet to meet the required standards. Among these, 29 plots were initially cancelled due to lack of construction. However, 18 were later restored by the state govt following revision applications. For the remaining 11 cancelled plots, no restoration applications were filed, leaving their status unresolved. As many as 78 plots were found to have had constructions that were more than 50% of their permissible Floor Area Ratio (FAR) but were yet to be declared functional. Of these, 38 were granted an extension till Dec 2024, while 24 neither received an extension nor achieved functionality. Source : Times of India INDIA

Chandigarh : PGI and Punjab University Request Re-evaluation of Property Tax

1/4/2025 11:21:00 AM

Chandigarh: Both PGI and Panjab University (PU) have again approached the municipal corporation, Chandigarh, asking to reconcile the property tax data and records. Disagreeing with the amount of the property tax prepared by the civic body authority, both institutions stated that the prepared tax amount is not justified as per their records and thus needs a complete re-evaluation. According to PGI, the land or area calculated by the MC is more than the actual area of the property on the ground. They have requested a complete measurement of the land and a fresh calculation of the related tax amount. Following this communication, the MC is likely to assess the area of land to provide the updated details accordingly. In the case of PU, the university has written to the MC, asking for a breakdown of the tax amount details, such as the principal amount, interest amount, and penalty amount, requested year-wise. However, sources in the MC revealed that they have already supplied the same data to the PU authority in the past, and now they have again asked for the same information. "Since we have received the communications from the respective authorities, the same will again be studied based on their request. However, we will request them to deposit payment, if not in full, then half or partly, so that the authority can receive some amount from their side. Moreover, all the cases are being minutely checked," a senior official of the MC told TOI. Sources in the MC said that since PU has multiple separate IDs for their buildings and has consistently avoided making the payment even after a series of deliberations in the past few years, it seems they do not want to make the payments. The records have already been shown to them in the past, and they have also taken the details of the amount and properties, but no payment of pending arrears has been made so far. According to records, both PU and PGI are among the top property tax defaulters. BOX Pending Tax Properties-------------------------------------Tax (approx) 1: Panjab University------------------------70 crore 2: PGI-------------------------------------------41.53 crore Source : Times of India INDIA

Gurugram: Efforts to Curb Iiiegal Construction in Aravalis Continue Despite Challenges

1/4/2025 11:19:00 AM

Gurgaon: Walls are being constructed, trees were felled, and vast patches of land are being levelled using earthmovers in Raisina Hills. Workers are busy laying stones, while tractors laden with boulders from the Aravalis traverse the area. This flurry of illegal activities is underway in several areas even though the land is protected under the Aravali notification, a visit by TOI has revealed. Along the Raisina road towards B-block, new gates have been installed, and tractors are transporting boulders to a two-acre plot earmarked for construction. The site was cleared of 15-20 trees, with ongoing excavation work. Workers and guards appeared uninformed about restrictions. "The sale and purchase of land is proceeding smoothly. There were some demolitions last month, but these do not deter new construction activities," said Abhay, a guard deployed near the B-25 farmhouse. On G road too, construction went on with workers building a guard room near G 21 (A). Tree felling was evident on E-road, with new walls built along it. Raisina residents voiced concerns about ongoing construction activities. "There is persistent movement of heavy vehicles carrying stones from Aravalis Hills. It generates substantial noise. Furthermore, widespread construction destroyed the fodder we utilised for our cattle," said Ashok, a Raisina resident. The 1992 Aravali notification restricts building construction, wall erection, road development, and tree felling in protected areas without authorisation. Non-forest activities are prohibited on ‘gair mumkin pahad' land. The Union environment ministry's notification designates ‘gair mumkin pahad' (uncultivable land) as protected territory where construction, electrification, and tree removal require permission. On Dec 9, 2022, NGT instructed Haryana and Rajasthan govts to set up monitoring committees for quarterly reviews of encroachment clearance in ‘gair mumkin pahar' areas in Gurgaon, Faridabad, Nuh, and Alwar. The district administration carried out demolitions on Nov 13, but unauthorised activities still persist. The tribunal also instructed chief secretaries of both states to ensure compliance with the directions. The directives were issued by the NGT bench comprising Chairman Adarsh Kumar Goel, Judicial Member Sudhir Agarwal, and Expert Members A Senthil Vel and Afroz Ahmad. According to a forest department survey, at least 500 farmhouses were constructed illegally on Aravali land in Gurgaon, concentrated in areas like Gwalpahari, Abheypur, Gairatpur Bas, Sohna, Raisina, and Manesar. In Sept 2021, NGT ordered govts to remove illegal structures and restore forest land, apart from submitting action-taken reports. A detailed list of these structures was submitted to the tribunal in the Sonya Ghosh vs State of Haryana case in 2022. The report included details of the total area occupied and their locations. The district administration in 2020 replaced the term ‘gair mumkin farmhouse', which surreptitiously entered revenue records and aided farmhouse owners in circumventing provisions of the Aravali notification, with the original term, ‘gair mumkin pahad'. Environmentalists said despite various demolition drives, the area continues to witness encroachments on a massive scale. "The area is environmentally sensitive. It's a leopard habitat and corridor. Tree felling and land clearing are the first steps towards construction. It will lead to a reduction in forest cover and block wildlife movement. Clearly, demolition drives that target only a few properties are not deterring new construction," said forest analyst Chetan Aggarwal. "We require a robust mechanism to monitor sensitive zones of the Aravalis and ensure these wildlife corridors remain undisturbed. There was an increase in man-animal conflicts as trees are being felled and forest areas are being transformed into urban spaces," said Vaishali Rana, an environmental activist. Source : Times of India INDIA

Gurugram’s Building Code Compliance Strengthened: 81 Properties take Steps for Legal Safety and Improvement

1/3/2025 10:44:00 AM

Gurgaon: The department of town and country planning (DTCP) has revoked the occupation certificates (OC) of 81 houses in DLF Phase 5 on account of regulatory violations. These properties were found to have grossly violated building codes, zoning regulations and approved plans. The revoked OCs pertain to properties on lanes C-1, C-2, C-4, C-5, C-6 and C-7 with specific addresses listed in the DTCP order. These properties were originally designated under the economically weaker section (EWS) category with a limit of 60 square yards. The crackdown follows a survey conducted by former district town planner (DTP), enforcement, Manish Yadav in Nov, during which over 100 houses were served notices and sealing operations were carried out. DTP (enforcement) Amit Madholia said, "Following Manish Yadav's recommendations, we initiated action to revoke the OCs. This aligns with our efforts to curb illegal activities in EWS-designated housing." Many of these houses were being used for illegal commercial activities, prompting swift action from the authorities. The violations include unauthorised construction beyond permissible limits, with several buildings extending to five or six floors instead of the allowed three or four. Moreover, 100% coverage, which breaches zoning regulations, was observed in numerous properties. The DTCP also wrote to the Wazirabad tehsildar, advising against registering these properties or processing gift deeds and rent agreements. These properties will be marked with "red entries" in official records. DTCP officials confirmed that a formal communication will be sent to the deputy commissioner of Gurgaon and the Wazirabad tehsil office, instructing them to halt any further registries related to these properties. The department also plans to update the Punjab and Haryana high court, where a related petition is pending. DTP (planning) Praveen Chauhan said, "We aim to restore adherence to building norms and eliminate unauthorised commercial usage in residential spaces." This move highlights the ongoing efforts by Gurgaon authorities to enforce planning regulations and curb illegal commercialisation in upscale areas. The revocation of OCs serves as a stern warning to violators who disregard zoning laws and misuse residential properties for profit. Source : Times of India INDIA

Smartworks Secures a 4.7 Lakh Sq ft Office Space Lease in Gurugram

1/3/2025 10:34:00 AM

Gurugram-based flexible workspace provider Smartworks has leased 4.7 lakh sq ft of commercial space in DLF City in Gurugram for over ₹94 crore of annual rent, documents accessed by Propstack showed. The office space, which spans five floors, is located in Phase 5 of DLF City for a six-year tenure. The transaction was registered on December 3, 2024. According to the documents, the lease commenced on November 1, 2024, and the rent payment is applicable from March 2025. The registration documents show that Smartworks paid a rent of ₹165 per sq ft and a six-month security deposit of ₹47.3 crore. The rent will be escalated by 9% after three years. The documents show that the company has access to 794 parking spaces. “Our growth in Gurugram reflects the increasing demand for fully managed and serviced campuses. This expansion aligns with our commitment to empowering enterprises by providing tailored office solutions in large campus settings, equipped with a range of amenities and services to cater to the evolving needs of the modern workspaces. Our focus is to enhance productivity and support growth in a professional and dynamic work environment," Neetish Sarda, Founder at Smartworks, said. Meanwhile, an email query was sent to DLF but did not receive a response. The story will be updated when we receive a comment. In August 2024, the company leased around 6.13 lakh sq ft of commercial space in a building in Pune for a starting rent of ₹4.44 crore per month for a five-year license period. This comes after the company announced the expansion of its Pune portfolio, adding over 6 lakh sq ft of prime office space, bringing its footprint in the city to over 3 million sq ft. In the same month, Smartworks filed its preliminary papers with the markets regulator Securities and Exchange Board of India to mobilise funds through an initial public offering (IPO). The IPO will include a mix of fresh issuance of equity shares worth ₹550 crore and an offer-for-sale (OFS) of 67.59 lakh equity shares by the existing equity shareholders. The company is concentrated in cities including Bengaluru, Mumbai Metropolitan Region, Hyderabad, Gurugram, and Chennai. As of March 31, 2024, it had a presence in 13 cities and a portfolio comprising 41 centres spanning 8 million square feet. The office space is located in a project called Reach Comercia, a corporate tower in sector 68 in Gurugram. The total leased area is spread across an area of 18,430 sq. ft and comes with 37 car parking. In December 2023, Air India signed a lease agreement to take up commercial space covering 6.2 lakh sq ft in the E-Innovation Centre in Gurgaon, Sector 75, at an annual rent of over ₹90 crore for 21 years. The airline, acquired by the Tata Group in January 2022, has taken up blocks B, C, and E spread across an area of 3.61 lakh sq ft, at an average rent of ₹2.40 crore per month and an average rent of ₹43.29 crore per annum, E-Novation Centre, Sector 75, Gurugram from the landlord, Innovative Techno Park Pvt Ltd. Source : Hindustan Times INDIA

Chandigarh to Develop New Housing in Manimajra with Land Auction

1/2/2025 11:10:00 AM

Chandigarh: Facing a severe financial crisis, the municipal corporation has decided to sell its land in Shivalik Enclave area, Manimajra, for a housing project. The project spans 6.8 acres (4,840 sq yd) and will include flats constructed in five designated pockets. The land, specifically earmarked for residential use, is valued at over Rs 195 crore based on the current collector rate. The civic body has calculated this amount considering all existing financial factors. Also, around 0.5 acres of the site has been reserved for a shopping area. After receiving the layout plan from the chief architect of the Chandigarh administration for area listing and verification of encumbrances, the MC completed its ground survey, which included land verification, identification of existing encumbrances, and assessment of underground services at the proposed site. The detailed report was then sent to the urban planning department of the administration to issue the zoning of the site, initiating the process of allotting the land to a private bidder. "The concerned road division of the MC's engineering department demarcated the said area on the ground to check the dimensions of the given plots and identified the existing encumbrances on the proposed site. Now the report has been sent to the department of urban planning to amend the proposal according to the site's conditions and prepare a zoning plan. The land parcel can be disposed of after receiving the zoning plan. Since it is a crucial exercise, if all goes well, it may take a minimum of six months to dispose of this land, as per the discussion held with the urban planning department," sources in the MC said. Since the MC calculated the land value based on the existing collector rates, and the land is located in Shivalik Enclave area of Manimajra, the collector rate for the residential area is Rs 58,687 per square yard. Based on this rate, the MC can earn Rs 195.36 crore by selling 6.878 acres of land for the housing project, sources confirmed. Moreover, as the Chandigarh administration started the process to revise the collector rates of Chandigarh and the matter is under discussion amongst the senior officers of the administration, sources said that if the collector rates are revised in the coming few months, the cost of the said land in Manimajra for the housing project will give more money to the MC. "Since the process of this entire project will take a few months, we are hopeful that the collector rates will be revised in between to ensure money to the MC." The MC has sold its land twice since its inception. The first sale was for Uppal Housing in Manimajra at a cost of Rs 108 crore on a freehold basis in 2005. The second sale was for the JW Marriott Project in Sector 35 at a cost of Rs 101.37 crore on a leasehold basis in 2006. Land------------------------------------------- ----Area--------------------Auction Amount (Rs)-------------Date 1: Uppal Housing, Manimajra--------------26,109.24 sq yd---------108.01 crore--------------Dec 6, 2005 2: JW Marriot, Sector 35------------------12,694.422 sq yd---------101.37 crore---------------Oct 17, 2006 BOX 2 Housing project The MC land on sale spans over 6.8 acres (4,840 square yards) and has been divided into five plots for the housing project. The details of each plot are as follows: Description------------------Area (in acres) 1: Plot no: 1---------------------1.216 2: Plot no: 2--------------------1.216 3: Plot no: 3--------------------1.216 4: Plot no: 4 -------------------1.18 5: Plot no: 5--------------------2.05 Total: 5 plots---------------6.878 Source : Times of India INDIA

Jaypee Greens Kosmos Gets Maintenance Services Back on Track in Noida

1/2/2025 11:09:00 AM

NOIDA: Nearly 4,000 families at Jaypee Greens Kosmos are in a fix as the maintenance agency, a subsidiary of the builder Jaiprakash Associates Limited, will cease its operations from Wednesday and halt manpower and financial support for housekeeping and security services. In a letter dated Nov 22, Jaiprakash Associates Limited-Facility Management Group (JAL-FMG), which has managed the society's maintenance since 2015, and Suraksha Reality Ltd asked the society's apartment owners' association (AOA) to take over the housekeeping and other services. The AOA, however, expressed its inability to manage these services as the company did not transfer the bank accounts or the balance amount collected as charges paid so far by the residents towards such services. Residents also pointed out that several towers and electricity infrastructure in the project were still incomplete, and the developer also has an outstanding water bill towards Noida Authority. If the maintenance agency pulls out, water and electricity supply are also likely to be affected. Ten of the 46 towers at the Kosmos project, part of the Jaypee Greens Wish Town in Sector 134, are still under construction. In May 2024, Suraksha officially assumed control of Jaypee Infratech Limited (JIL) through insolvency proceedings to complete the unfinished flats. Earlier this month, TOI reported that Suraksha had failed to mobilise the promised Rs 3,000 crore required for construction, deploy workers, or even establish escrow accounts as stipulated in the resolution plan. According to the approved resolution plan, passed by NCLAT in May this year, Suraksha was supposed to resume construction of flats within 90 days. "In 2015, Jaypee Infratech Ltd appointed its subsidiary, JAL-FMG, for the maintenance-related services of the society. Since then, residents have been depositing all the maintenance charges to the company's account, which is about Rs 4,000 to Rs5,000 per month. Initially, while buying the flats, all the residents deposited about 1.5 lakh to the company in the name of a maintenance deposit, which is approximately Rs 80 crore. JAL-FMG has not transferred this amount to the AOA but wants it to take over all the services," Brijesh Singh, a resident of the society, said. The society's AOA was set up in 2022, but since then has not received any maintenance charges from the residents. "Despite paying all the charges timely, the society doesn't have a water or sewer connection. Noida Authority has not provided the connections as the builder is yet to clear Rs 100 crore in land dues to it. We also don't have any power backup infrastructure. Today, the AOA has zero balance. How are we supposed to fix the issues and take over all the maintenance work? Only when Suraksha completes all the pending infrastructure work can we take over the maintenance services," Pushkar Singh, another resident, said. Ishtiaq Ahmed, from the planning department of Noida Authority, said they have written to the maintenance agency and the developer for a mediation meeting with the AOA on Jan 6. Until then, everything should continue smoothly as it was. Source : Times of India INDIA

Ludhiana Municipal Corporation Chief Urges Property Tax Payment by December 31 to Avoid Penalties

12/31/2024 11:35:00 AM

December 31, 2024, last day to pay property tax for the current financial year (2024-25) without any penalty, the Municipal Corporation (MC) has decided to keep its zonal suvidha kendras open on Saturday (December 28) and Sunday too. MC Commissioner Aaditya Dachalwal has given these instructions to facilitate residents so that residents could deposit their dues on time. It is pertinent here to tell that 10 per cent penalty would be imposed if property owners failed to submit property tax for the current financial year by December 31. Civic body officials said residents could avail 10 per cent rebate on payment of property tax for the current financial year, if the same was done by September 30. No penalty would be imposed on payment of tax from October 1 to December 31 while the department imposes a 10 per cent penalty on payment of tax from January 1 to March 31. The penalty is increased to 20 per cent and 18 per cent annual interest is also imposed, if residents fail to pay the tax for the current financial year by March 31. The MC Commissioner said to avoid standing in long queues, residents could also submit the pending dues online by visiting the website mcludhiana.gov.in of the MC. He appealed to the residents to submit their pending tax in time to avoid penalties as the collected amount was used for providing basic amenities to them and for taking up development works in the city. Source : The Tribune INDIA

CREST Receives Approval from Chandigarh Administration to Install Solar Panels on 10-Marla Houses

12/31/2024 11:34:00 AM

Chandigarh: Decks have been cleared for the installation of solar panels on all houses above 250 square yards (10 marla) in the city as the UT urban planning department has given an approval to Chandigarh Renewable Energy and Science and Technologies Promotion Society (CREST) to go ahead with the move. Earlier, mandatory solar installations were limited to houses having a plot size of 500 square yards (1 kanal) and above. Empowered to make decisions and proceed with the implementation, CREST has begun preparing and finalising procedures in coordination with relevant departments of the Chandigarh administration. CREST has identified a total of 4,552 houses throughout Chandigarh that do not have solar panels on their rooftops. The estate office will collaborate with CREST to develop an action plan and related procedures. A meeting between CREST and estate office officials is scheduled soon. The implementation will follow the Model Building Bylaws 2016, approved by the Union ministry of urban development. In its communication to CREST, the urban planning department said, "In this regard, it is to inform that earlier notification for mandatory installation of solar photovoltaic power plant for a minimum plot size of 500 square yards was done by your department. Further action for reducing the area up to 250 square yards is also related to your office. Accordingly, further decision in this regard has to be taken by your office in consultation with the estate department of the Chandigarh administration." Unlike regulations for 500 square yard properties, CREST is considering flexible criteria for solar panel sizes on 250 square yard houses. Property owners will have discretion regarding installation size. Due to smaller rooftop areas, residents can choose panel sizes based on available space. Currently, solar panels are mandatory for houses having a plot size of 500 square yards and above in Chandigarh. As per UT records, approximately 1,800 houses out 6,408 houses in 500 square yard and above category have installed solar panels on their rooftops. The estate office had issued resumption notices to non-compliant properties. Though some residents have moved Punjab and Haryana high court on this issue, the Chandigarh administration has told the court about the need to install solar panels on rooftops of houses. Over 2,850 out of 5,545 eligible govt houses in the city are now fully equipped with solar panels to date, and they have started solar energy generation. Work is ongoing for 1,091 houses, whilst tenders for the remaining 1,600 will be allocated shortly. Additionally, 110 government schools have 6-megawatt solar installations, generating 6.9 MU against 6.1 MU usage, contributing to surplus energy. Chandigarh currently generates over 68-megawatt solar energy. Source : Times of India INDIA

How 2024 Influenced Architecture and what to expert in 2025

12/30/2024 11:19:00 AM

In 2024, the architectural profession saw significant changes brought about by the dynamic interaction of client requirements, technology advancement, and the global push for sustainability. As architects get ready for the opportunities and challenges of 2025, these revolutionary innovations have paved the way for a purpose-driven approach to design. 2024 highlighted the rising need for design that puts environmental sensitivity and human well-being first in the post-pandemic world. The focus of design methods changed from being solely aesthetic to taking occupant health, adaptability, and utility into account. This development is a reflection of a wider understanding that constructed environments need to change to accommodate shifting human demands and lifestyles. Throughout the year, technological integration emerged as a defining feature. With the use of technologies like virtual reality, artificial intelligence, and building information modeling (BIM), architects were able to improve collaboration, streamline procedures, and produce accurate results on challenging projects. By bridging the gap between design intent and implementation, these innovations gave stakeholders and clients smooth experiences. One of the main factors influencing architects in India was the country's urban expansion, especially in Tier 2 and Tier 3 cities. The profession concentrated on addressing local contexts, affordability, and the blending of traditional materials with new processes, with the Smart Cities Mission and AMRUT projects spearheading the movement. Instead of being an afterthought, sustainability became a fundamentalprinciple. Architects adopted methods to lower embodied carbon, lifecycle evaluations, and circular economy principles. Because of their capacity to improve both environmental performance and user enjoyment, biophilic designs—which balance nature with constructed spaces—have become popular. In the future, 2025 offers a chance to match design with technology innovation, inclusion, and resilience. A number of significant trends are set to influence the architectural environment as the field adjusts to new challenges. Designs that account for disasters and climatic variability will become more and more important to architects. It will become crucial to find solutions that are specific to regional ecosystems and environmental circumstances in order to guarantee resource efficiency and longevity. Design and construction possibilities will be redefined by emerging technologies like 3D printing, parametric modeling, and generative AI. Workflows will be further streamlined by robotics and offsite prefabrication, allowing for quicker project delivery and personalized solutions. With an emphasis on designing areas that meet a range of requirements, inclusivity will take center stage. Architecture will strive to close societal divides while preserving quality and usefulness, from accessible and gender-neutral designs to reasonably priced housing. With the help of passive design strategies, low-embodied energy materials, and renewable energy systems, the push for net-zero buildings will accelerate. Reuse and recycling are key components of circular architecture, which will spur advancements in building techniques and material usage. Local craftsmanship, legacy, and customs will becelebrated through contextual design, which will once again acquire popularity. Architects can build environments that have cultural importance and meet modern needs by combining traditional approaches with modern sensibility Architects are involved in much more than just architectural design. Creating inclusive, sustainable, and motivating venues is their responsibility as stewards of the built environment. Addressing issues like urbanization, housing shortages, and climate resilience will require cooperation with communities, developers, and legislators. At every level of the design process, architects today must strike a balance between sustainability, technology, and cultural significance. Creating spaces that not only satisfy utilitarian needs but also promote relationships, elevate people's spirits, and endure throughout time is still the ultimate goal. The lessons learned from 2024 have made it clear that architecture must develop to keep up with environmental and cultural shifts. Architects have the opportunity to lead in 2025 with compassion, creativity, and a dedication to constructive change. The profession will continue to create a better world for future generations by designing environments that honor nature, celebrate diversity, and foster resilience. A story of purpose, advancement, and unbounded creativity awaits us in the future of architecture. Source : Economic Times India

Chandigarh Housing Board Struggles with Rs 52 Crore in Unpaid Rent From Small Flat Scheme

12/30/2024 11:14:00 AM

Chandigarh: A total of Rs 52 crore in dues are pending as rent from the allottees of the Small Flats Scheme. The flats were allotted by the Chandigarh Housing Board (CHB). In all, 13,174 defaulters have not paid the monthly rent regularly since occupying the small flats, resulting in approximately Rs 52 crores in dues, according to a CHB official. The list of allottees with outstanding dues has been uploaded on the CHB's website. The outstanding dues can be paid online at www.chbonline.in or at any of the Sampark Centres. The CHB allotted about 18,138 flats under the Small Flats Scheme, including 2,000 flats under the Affordable Rental Housing Complex Scheme. These flats are intended for the occupation of the allottees and their families on a monthly licence fee (rent) basis. They cannot be sold, sub-let, transferred, or handed over to other persons. Source : Times of India India

Income Tax Department Raids Real Estate Firm in Zirakpur

12/29/2024 12:17:00 PM

In a recent development, the Income Tax Department conducted raids on a real estate firm based in Zirakpur, known for its high-profile residential and commercial projects. The raids, which also extended to the firm's office in Chandigarh's Elante Mall, are part of an investigation into potential financial irregularities and tax evasion. The authorities are currently scrutinizing documents related to the firm's operations and transactions. This move highlights the growing efforts by the government to ensure transparency and accountability within the real estate sector. As the investigation progresses, more details are expected to emerge. India

New Chandigarh: The Next Real Estate Hotspot

12/29/2024 12:09:00 PM

New Chandigarh is rapidly emerging as a prime real estate destination in the Tricity region, offering a perfect blend of modern living and natural surroundings. Strategically located near Chandigarh, this area boasts excellent connectivity via the Kurali-Chandigarh Road and Madhya Marg Extension, making it an ideal choice for families and professionals alike. With its meticulously planned infrastructure, low pollution levels, and access to top-notch educational, healthcare, and commercial facilities, New Chandigarh is attracting investors and homebuyers seeking quality living spaces. Whether you're looking for a dream home or a lucrative investment opportunity, New Chandigarh promises growth, convenience, and unmatched lifestyle benefits. India

Mohali Takes Action to Ensure Safer and Legal Constructions

12/28/2024 11:55:00 AM

Mohali: In the wake of Sohana building tragedy, Mohali municipal corporation (MC) started a massive drive to demolish unauthorised constructions in Mohali. An unauthorised construction was demolished at Mataur and Kumbran villages of Mohali on Thursday, said MC commissioner T Benith. A massive drive was carried out by officials in villages within municipal limits. Benith said the demolition of ongoing works was carried out in Mataur and Kumbran villages against ongoing construction without any approval. MC commissioner T Benith said, "We are already conducting a survey to identify such buildings which are coming up without approval. Also, basements being dug up without prior permission will face legal action. As we receive information about illegal construction, we are carrying out demolition drives." He said the officers, particularly building inspectors, have been directed that stringent action should be taken against illegal construction in villages even on Saturdays, Sundays, and holidays. The commissioner directed the officers/officials to not allow any construction without approval and to take immediate action against any illegal construction as per law. Any negligence from any official will not be tolerated. Source : Times of India INDIA

Mohali Stremlines Plot Registrations with New Nodal Officer

12/28/2024 11:51:00 AM

Mohali: The Mohali district revenue officer has been designated as nodal officer for registration of plots in unauthorised colonies. To facilitate people with the policy of the Punjab govt to provide relief to plot holders (up to 500 square yards) for registration of their plots situated in an unauthorised colony, the Mohali deputy commissioner (DC) Aashika Jain has designated district revenue officer Amandeep Chawla as the nodal officer. A helpline number (0172-2219506) has also been issued for lodging any complaints in this regard. The DC has instructed sub/joint sub registrars to make people aware of the registration of plots in unauthorised colonies, besides benefiting them as per the notification. Divulging the details after an urgent meeting on this issue with ADC (G) Viraj S Tidke, ADC (UD) Anmol Singh Dhaliwal, and district revenue officer Amandeep Chawla, the DC stated that as per the directions of Punjab chief minister Bhagwant Singh Mann, the sub registrars and joint sub registrars of all tehsils and sub tehsils of the district had been directed to make people aware of the scheme. This is to ensure benefit of the amendment in the Punjab Apartment and Property Regulation (Amendment) Act, 2024, effective from Dec 1, 2024, wherein sub section 5 under section 20 had been introduced to provide relief to plot holders for the registration of their plots situated in an unauthorised colony. She mentioned that the exemption of no-objection certificates (NoCs) from the housing and urban development and the local bodies departments was valid till Feb 28, 2025, only. Hence, beneficiaries must complete their registrations as per the notification before or by the end of the day. According to the notification, any person with an area up to 500 sq yards situated in an unauthorised colony, has entered into a power of attorney or agreement to sell on stamp paper or has any registered document with respect to the title of land shall be entitled to get the registration of such plot executed before a registrar, sub-registrar, or joint sub-registrar. Furthermore, the plot holder shall furnish an undertaking to the sub-registrar or joint sub-registrar along with the application for the registration of sale deed of such plots, stating that the plot does not fall in unauthorised development raised on land falling in restricted areas along scheduled roads and national highways or any other restricted areas declared under any other Central or State law. The registration and use of this plot should not contravene the provisions of the respective regional plan/master plan and other mandatory restrictions applicable to the registration of such plots. Similarly, the sub registrars and joint sub registrars will ensure that such plots do not fall into the following categories: encroachment on public land; unauthorised development raised on an area notified under the Land Acquisition Act, 1894; the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013; the Forest (Conservation) Act, 1980; the Punjab Land Preservation Act, 1900; eco-sensitive zone (ESZ) as per the Wildlife (Protection) Act, 1972; and the Works of Defence Act 1903; or an area covered under any other Central or state Act. Source : Times of India INDIA

Ghaziabad to Begin Allotment of Affordable flats Soon

12/28/2024 11:34:00 AM

Ghaziabad: The Ghaziabad Development Authority took exception to delays in the construction of EWS and LIG flats by developers for the economically disadvantaged group of the society. In the meeting held on Friday with integrated township developers, the department asked developers about the delay and asked them to complete the allotments within two weeks, failing which GDA would refuse a completion certificate to the developers. "The GDA has taken exception to such a low percentage of allotment rates of EWS and LIG flats, which are meant for the economically disadvantaged group section of society. They have been given some more time, and if the allotment is not made, then GDA will refuse CC to the developers," said a GDA official. According to data, 4,860 EWS flats were to be constructed by integrated township developers, out of which 1,717 were developed and 1,455 allotted. Likewise, out of 4,860 LIG flats, 1,255 were developed, but only 1385 were allotted. It is compulsory for group housing developers to construct 10% of total flats under the EWS category and 10% under the LIG category. The map sanction by GDA is given only when a developer comes with a plan for 10% EWS and LIG flat categories, and these flats are to be constructed within a stipulated time. The cost of flats under the LIG category should be about Rs 9 lakh and Rs 6 lakh for EWS flats, and the area of such flats should be between 24 sqm and 36 sqm for the EWS category and between 40 sqm and 60 sqm under the LIG category. However, many developers fail to comply with it, even though, norms say, the flats should be constructed within three years from the date of map sanction by development authorities. Source : Times of India INDIA

GNIDA Takes Action to Protect Homebuyers in Greater Noida

12/27/2024 11:19:00 AM

Noida: The Greater Noida Industrial Development Authority (GNIDA) has filed an FIR against 18 people involved in the construction of illegal housing projects in Tusyana village. These projects encroached on govt land, caused revenue loss to the govt, and deceived customers by offering plots and flats at cheaper rates. Many people were found to have been duped into investing their hard-earned money due to the offenders falsely marketing the land as freehold, officials said. An FIR has been registered in the matter at the Ecotech 3 police station by work circle-3 of GNIDA's project department. As per the FIR, illegal construction was carried out by colonisers through plotting on several land parcels in Tusyana village. The FIR charged Satyaveer, Shahadat Ali, Dhani alias Dhaniram, Govind Sharma, Sunil Bansal, Harischandra Arora, Sahadat Khan, Monu Khan, Nizakat Ali, Mohabbat, Dayaram Sharma, Krishna Sharma, Shivram Sharma, Amit Kumar, Ankit, Raju, Dhoom Singh alias Farman Saifi, and Naveed Alam with trespassing and causing damage to public property. Officials said that several notices were issued to these individuals in the past to stop the illegal construction, but to no avail. Even after the work was halted on-site, the colonisers continued their illegal activities, secretly plotting the land, they added. GNIDA CEO NG Ravi Kumar has instructed officials that these individuals be declared as ‘land mafia' within 15 days. He also directed officials to initiate a campaign against those involved in illegal construction in the notified area. According to officials, the Authority's proposed schemes for this land have been included in the Greater Noida Master Plan, and illegal construction would negatively impact those proposed projects. GNIDA ACEO Prerna Singh, emphasised that no one is allowed to construct in the notified area without permission. The authority urged citizens not to fall into the trap of these colonisers and waste their hard-earned money. Before investing in any property in the scheduled area, citizens are advised to verify the property details with the authority. Earlier this month, the National Green Tribunal (NGT) imposed restrictions on unlawful and unauthorised building activities and developments in GB Nagar. The direction has been issued based on a petition filed by former municipal councilor Rajendra Tyagi. The petition had named 56 villages of Greater Noida and 18 villages in Noida, among others, where unauthorised colonies and townships are allegedly being raised, in complete contravention of the provisions of the Air Act and the Water Act. Source : Times of India INDIA

Over 4.1 Million People in UP to Gain Property Rights Through SVAMITVA Yojana

12/27/2024 11:19:00 AM

Lucknow: Deputy Chief Minister Brajesh Pathak on Thursday informed that over 41 lakh persons across 29,000 villages in 74 districts of Uttar Pradesh would benefit from the Pradhan Mantri SVAMITVA Yojana. Sharing details about the scheme, Pathak said, "PM Narendra Modi will be launching the scheme across India on Friday, and when he presses the button, over 41 lakh persons across 29,000 villages in UP will receive a link on their mobile phones, which will start the process to make them the owners of their homes." To note, SVAMITVA is a scheme of the Ministry of Panchayati Raj that provides a ‘Record of Rights' to village household owners. It entails the issuance of legal ownership cards (Property cards/Title deeds) to the property owners by mapping land parcels using drone technology. The scheme is being called a ‘reformative step' towards the establishment of clear ownership of property in rural inhabited (Abadi) areas, by mapping land parcels using drone technology and providing a ‘Record of Rights' to village household owners with the issuance of legal ownership cards (Property cards/Title deeds) to the property owners. There are about 6.62 lakh villages in the country which will eventually be covered in this scheme. The entire work is likely to be spread over five years. "The scheme will end the misery of people of India who have been living at a place for generations but still cannot call it their own due to lack of paperwork. The lacuna made them vulnerable to exploitation, the era of which will now cease to exist," Pathak said, adding, "in the long run, the scheme will improve the quality of life of the people as it will bring financial stability to the citizens in rural India by enabling them to use their property as a financial asset for taking loans and other financial benefits." "The objectives of the scheme include the creation of accurate land records for rural planning and reducing property-related disputes. It will also help in the determination of property tax, which would accrue to the gram panchayats directly in states where it is devolved or else, add to the state exchequer. Also, the creation of survey infrastructure and GIS maps that can be leveraged by any department for their use," he said. Source : Times of India INDIA

Mohali Civic Body Identifies 97 high-rise Buildings for improvemnent

12/26/2024 11:49:00 AM

Mohali: In the wake of the multi-storey building collapse in Sohana last Saturday, a survey conducted by the Mohali municipal corporation (MC) has identified 97 high-rise buildings constructed in violation of regulations, mayor Amarjeet Singh Sidhu said. Regarding unauthorised shops in villages under the MC, the mayor held an emergency meeting with MC commissioner T Benith and building branch and fire department officials. Senior deputy mayor Amreek Singh Somal also attended the meeting held at MC headquarters in Mohali on Tuesday. Following the meeting, the mayor said even though only three-storey buildings are sanctioned in the villages, many have constructed multi-storey buildings in violation of regulations. The mayor said, "The survey identified 97 buildings that exceeded the three-storey limit. Six villages fall under Mohali MC, including Sohana, Kumbra, Mataur, Shahi Majra, Madanpur, and Mohali village." He noted that unauthorised buildings exist both inside and outside the designated red zones in these villages, and action will be taken against them. During the meeting, the mayor instructed fire department officials to inspect the fire safety equipment in all village buildings, emphasising the substantial risk of fire incidents that could result in significant damage. The mayor also said the building branch reported during the meeting that a survey is ongoing in all Mohali villages, and construction of buildings without approved plans has ceased. The MC's engineering department is assessing the structural integrity of all buildings within the village red zones, and appropriate action will be taken against structurally compromised buildings based on the report. He said notices will be issued to buildings exceeding the height limit, directing them to rectify the situation. If not addressed, the MC will take action, and all expenses will be recovered from the building owners. He emphasised that those violating the regulations will not be spared. Source : Times of India INDIA

Delhi Civic Body Ensures Welfare Benefits for Construction workers through Registation

12/26/2024 11:48:00 AM

New Delhi: Municipal Corporation of Delhi (MCD) has instructed its building department to direct contractual firms to ensure the immediate registration of construction workers engaged at their project sites on the Delhi govt portal, enabling them to receive subsistence benefits. "It was observed that with the implementation of GRAP-IV regulations and banning of construction activity, workers are unable to earn anything. We received a letter from the Delhi Building and Other Construction Workers Welfare (DBOCWW) Board specifying that as per the Supreme Court's directions the process for registration and renewal of construction workers on their website should be accelerated," an MCD official said. "Accordingly, we issued directions to all execution engineers in the building departments of 12 zones to contact the empanelled project contractors engaged in construction work, including our projects, and assist their workers in getting enrolled on the website at the earliest," the official said. As per the Building and Other Construction Workers Act, 1996, and the rules framed there under, any person between the age of 18-60 years who worked as a construction worker for 90 days in the preceding one year is eligible to be registered under the act and is entitled to get the benefits of various welfare schemes run by the board. Last month, Supreme Court directed Delhi govt to provide immediate compensation to construction workers adversely affected by the implementation of GRAP-IV. The court ordered Delhi govt to pay a one-time financial aid of Rs 8,000 to the registered construction workers. It also directed the chief secretary of Delhi to ensure that the remaining payments were made within a day. Besides, the NCR states were asked to convene a meeting with workers' unions to get workers registered on the online portal so that they become eligible for the subsistence allowance. Sunil Kumar Aledia, associated with an organisation working for unorganised and homeless workers in Delhi, stated that the drive was intensified as Delhi govt needed to submit a reply in the court. "We earlier visited various govt project sites in Delhi and found out that not even a single worker was enrolled on the welfare board website. This was despite the fact that a gazetted officer had the power to enrol a construction worker on the website," he said. As per the welfare board's dashboard, the total number of renewal applications of construction workers received till Dec 19 were 727,501, of which 35,279 were rejected applications and three were cancelled certificates. Source : Times of India INDIA

IndiQube Spaces Files Draft Red Herring Prospectus (DRHP) for Rs 850 crore Initial Public Offering (IPO)

12/25/2024 10:59:00 AM

Workspace solutions provider IndiQube Spaces on Tuesday filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) of Rs 850 crore. Of the total issue, Rs 750 crore will be raised through a fresh issue of equity shares of face value Rs 1 each, according to the document. While Rs 100 crore will be raised via an offer for the sale of equity shares with a face value of Rs 1 each. The proceeds of the issue will be used for funding capital expenditure towards the establishment of new centres, repayment or pre-payment, in full or in part, of certain borrowings availed by the company; and general corporate purposes. The Bengaluru-based company’s founders and promoters, Rishi Das and Meghna Agarwal will sell their shares worth Rs 100 crore. Das and Agarwal hold 37.68 per cent stake in IndiQube, on a fully diluted basis. Anshuman Das, the company’s non-executive director, holds 25.15 per cent equity share capital. Further, the company may raise Rs 150 crore in its pre-IPO funding round through private placements or rights issues. The company is backed by WestBridge Capital and Ashish Gupta. WestBridge AIF I holds pre- offer paid-up equity share capital of 5.80 per cent on a fully diluted basis. WestBridge is an investment firm based out of Bengaluru and active in the USA as well as Mauritius. The company is present in 13 cities in India with 103 properties and 7.76 million square feet of area under management. Additionally, for the quarter ended June 2024, the company’s revenue from operations stood at Rs 242.3 crore. It incurred a total comprehensive loss of Rs 42.11 crore during the quarter. The Book Running Lead Managers to the offer are ICICI Securities and JM Financial. The equity shares are proposed to be listed on the BSE and the National Stock Exchange. Source : Business Standard INDIA

Over 61 Housing Societies in Ghaziabad have been issued Notices for Illegal Gorundwater Extraction

12/25/2024 10:58:00 AM

Ghaziabad: The groundwater department (GWD) has issued notices to over 61 residential societies for unauthorised borewells and asked them to provide a comprehensive status report within 30 days. According to Srishti Jaiswal, assistant geophysicist at the groundwater department, a complainant wrote a letter to the director, alleging that around 76 societies in the city are extracting groundwater illegally without any NOCs. "The letter was forwarded to us, upon which we initiated our investigation and found operating borewells in 61 societies," Jaiswal said, adding that none of the societies had obtained the necessary NOCs for operating borewells. The list of societies that received notices includes Shipra Suncity, Windsor Nova, Krishna Apara Garden, Shipra Srishti, ATS Advantage, and Gaur Projects, among others. "We have no further information about these societies on who installed these borewells and how long they were using them, as none of them got NOCs from us. Most people do not have this information that they have to get NOCs from the state now and not from the central body, which changed in 2021," Jaiswal said. Jaiswal added that some of the societies' RWAs have informally communicated with the department after the notices were issued to them, citing their reasons for using borewells, including when Ganga water is disrupted for 2 months every year for cleaning purposes. RWAs said that, in these two months, they don't get any water supply from the concerned authorities. Several prominent societies in the city have been issued notices, including societies in Indirapuram, Raj Nagar Extension, Sidharth Vihar, and more. In Raj Nagar Extension, residents claimed that they don't have a choice but to use borewells as it's their only source of water. "Whenever we ask GDA for the water supply, they say they just sold this land to the builders and now they have to take care of all the basic necessities. Meanwhile, GMC says they have not got the handover of this township yet. There is also no Ganga water supply. The point is not about taking NOCs but about the groundwater, which is depleting very fast in our area because of the increasing pollution and buildings," said Deepanshu Mittal, a resident of Raj Nagar Extension township. While Ganga water supply is available in the Indirapuram area, several societies still have borewells, claiming that supplied water is insufficient. "If any society has Ganga water supply in the society and still asks for NOC for borewell use, then we need to get a denial letter from the concerned authority that they are supplying insufficient water and partial water to the society. Only after then can an NOC be given to the society," said Ankita Rai, hydrologist, groundwater department. Groundwater levels have been depleting rapidly in Ghaziabad. As per the department's latest report, pre- and post-monsoon decline was around 7 meters in the district. Source : Times of India INDIA

Delhi High Court Clears Path for Safer Housing: Signature View Appartments Demolition Approved

12/24/2024 2:15:00 PM

The Delhi high court on Monday approved the demolition of Signature View Apartments in Mukherjee Nagar, criticising the Delhi Development Authority (DDA) for “delinquency and gross negligence” that was “unpardonable” and endangered the lives of hundreds of residents. The court held that the Municipal Corporation of Delhi (MCD) made a “considered” decision in December 2023 to demolish the buildings, based on the evidence before it. A bench of justice Mini Pushkarna also directed that DDA pay the owners rent from the time the reconstructed flats are handed over to them. The court, in its 145-page ruling, highlighted the rapid deterioration of the apartments, which posed severe risks to the residents. “The present cases are one of their kinds that bring to the fore shocking facts regarding the apathy displayed by DDA in getting residential towers constructed … which started displaying signs of deterioration within a short span… Such delinquency and gross negligence by DDA is unpardonable, as the same has put the lives of hundreds of residents therein, at great risk and danger, the court said. “Despite extensive repair work, the degeneration and dilapidation of the structures could not be prevented on account of the poor quality of construction,” it added. On December 18, 2023, MCD issued a demolition order declaring the towers structurally unsafe. The court found DDA’s repair work to be cosmetic and insufficient to address the underlying structural issues. Justice Pushkarna noted that the MCD had enough evidence to declare the buildings dangerous and unsafe for habitation. “Considering the various documents placed before this court, it cannot be said that there was no material before the commissioner MCD or his delegate to arrive at the conclusion that the buildings in question were dangerous… On the basis of the material before it, the MCD issued the order under Sections 348 and 349 of the DMC Act, thereby, declaring the towers of the Signature View Apartments as dangerous and not fit for habitation,” justice Pushkarna said. The court passed its order after hearing the flat owners’ plea where they had accused civic agencies of corruption and maladministration, claiming substandard materials were used during construction. The plea also sought to restrain MCD from demolishing the apartments based on its 2023 order. In response, DDA, represented by advocate Deepika V Marwaha, argued that the residents’ pleas were filed in bad faith to obstruct legitimate actions for the safety of the residents. MCD, represented by advocate Puja Kalra, had submitted that the corporation had concluded that the towers were dangerous and not fit for habitation after applying its mind to various reports of detailed study submitted by experts. The Union ministry of housing and urban affairs (MoHUA) represented by senior advocate Anurag Ahluwalia had submitted that the buildings in question were structurally unsafe as corrosion in all the structures had been developed significantly. The court also rejected DDA’s proposal to build 168 additional flats by using an enhanced floor area ratio (FAR), stating that this would infringe upon the material rights of the flat owners. The court emphasized that the common areas and facilities had already been transferred to the owners, and no additional flats could be built without their consent. Finally, Justice Pushkarna instructed DDA to pay facilitation amounts to the owners — ₹50,000 per month for HIG flats and ₹38,000 per month for MIG flats — until possession of the reconstructed flats is handed over, holding that residents are entitled to payment of facilitation amount/rent, till they are handed over possession of reconstructed flats. “The amount of facilitation amount/rent shall be enhanced at the rate of 10% per annum by the DDA, at the end of each year,” the judgement stated. Residents of the apartment welcomed the high court decision. “This is a welcome judgement. All our grievances have been addressed as the petitioners had asked that rent be provided immediately and additional flats not be made. The judge has addressed both these issues and directed DDA to start rent immediately after people move out. It has also directed that no additional flats be made. Most of the residents who are still living here are ready to shift soon,” said Amrendra Kumar Rakesh, RWA president of SVA. “All residents are very happy with the order, especially the elderly and those who were thinking of the additional rent as a huge financial burden. Now that the court has asked DDA to start giving rent as soon as people shift out, people will start vacating without further putting their lives at risk,” said Gaurav Pandey, RWA general secretary. HT approached DDA for a comment on the matter, but DDA did not respond to the request. Source : Hindustan Times INDIA

Gurugram: DTCP Ensures Compliance by Addressing Unauthorized Activities in DLF Phase 3

12/24/2024 2:14:00 PM

Gurgaon: The department of town and country planning (DTCP) has launched a crackdown on illegal commercial activities operating in residential properties in DLF Phase 3. Acting on the orders of the Punjab and Haryana high court, enforcement teams issued show-cause notices to over 300 property owners, marking a significant move to curb violations in the area. Notices were also publicly pasted on buildings to ensure compliance. District town planner (enforcement) Manish Yadav said, "In accordance with the high court's directives, notices were issued to violators in DLF Phase-3." Yadav said, "Seven days were given for responses, failing which actions under the Urban Development Act will follow, including sealing and FIRs." The court, during a hearing on Nov 28, directed the DTCP to conduct a survey of the area and take necessary action. Following the directive, a comprehensive survey was initiated, identifying multiple properties involved in illegal activities. The next hearing is scheduled for Jan 10, 2025. According to DTCP enforcement officials, the notices mandate property owners to submit their documents and responses within seven days. Failing to provide satisfactory explanations could result in restoration orders, sealing drives and even the filing of FIRs against violators. The violations are most rampant in the economically weaker section (EWS) category, where 60-square-yard plots were illegally converted into six- to seven-storey structures. These buildings house paying guest accommodations (PGs), guest houses, restaurants, general stores, boutiques, salons, clinics and commercial offices, flagrantly violating zoning regulations. Despite previous sealing actions, these property owners showed blatant disregard for the law, as activities resumed shortly after enforcement actions. The issue came to light after the DLF City Resident Welfare Association (RWA) filed a petition in the HC in 2020, citing rampant unauthorised construction and commercial operations. Following the court's recent order, the DTCP formed a team to survey and act against violators. This development has brought renewed focus on the ongoing misuse of residential areas in Gurgaon, with authorities under pressure to enforce compliance and uphold the integrity of zoning laws. Source : Times of India INDIA

NCLT Approves Raymond’s Strategic Move to Separate Real Estate Business

12/23/2024 12:03:00 PM

The National Company Law Tribunal (NCLT) has approved the demerger scheme of Raymond Ltd, paving the way for the reorganisation of its real estate business into a separate entity, Raymond Realty. The move is aimed at unlocking the growth potential of the group's real estate vertical and attract strategic investors. Raymond Ltd, the demerged company, will transfer its real estate assets and operations to Raymond Realty Limited, the resulting company, effective from April 1, 2025. As part of the scheme of this demerger exercise, existing Raymond shareholders will be receiving one equity share of Raymond Realty for every share held in Raymond Ltd. Post-demerger, Raymond Realty's equity shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), providing shareholders with investment flexibility in two distinct entities. The tribunal’s Mumbai bench delivered its order on Thursday, endorsing the proposal under Sections 230 and 232 of the Companies Act, 2013. The company emphasized the scheme's strategic benefits, highlighting that separating Raymond’s textile and real estate businesses would enable focused management, efficient resource allocation, and independent growth trajectors. The scheme has received the required approvals from regulatory bodies, including observation letters from the BSE and NSE, which raised no adverse objections. The tribunal has directed the company to convene meetings of RaymondLtd’s over 1.72 lakh equity shareholders and 534 unsecured creditors within 60 days via video conferencing and e-voting, ensuring participation from stakeholders nationwide. It has also directed the company to send separate notices to the Ministry of Corporate Affairs, Income Tax Authorities, GST Departments, SEBI, and RERA. The tribunal has allowed these authorities 30 days from the date of receipt of these notices to submit objections, if any, failing which it will presume no opposition to the scheme. The scheme requires the companies to submit details of contingent liabilities, pending litigation, and other financial disclosures. An affidavit confirming compliance with the tribunal’s directions must also be filed within ten working days after issuing notices to stakeholders and authorities. In June, the National Company Law Tribunal (NCLT) approved Raymond Ltd's comprehensive restructuring plan, which includes the demerger of its lifestyle business and the amalgamation of Ray Global Consumer Trading into Raymond Lifestyle. This restructuring aims to create a more focused and streamlined corporate structure, unlocking the potential value of Raymond’s distinct business verticals. Raymond Ltd, known for its operations in textiles, branded apparel, and real estate development, is set to achieve zero net debt for both lifestyle and non-lifestyle businesses post- restructuring. This strategic move is anticipated to simplify operations, enhance management efficiency, and provide a clear strategic direction for each business unit. Source : Economic Times INDIA

Jaypee Infratech Homebuyers Seek Resolution at NCLT for Timely Construction Completion

12/23/2024 12:02:00 PM

Noida: Homebuyers of Jaypee Infratech Ltd (JIL) have approached the National Company Law Tribunal (NCLT), alleging lack of headway in construction of flats by Suraksha Group despite its resolution plan being approved in March 2023 and upheld by the appellate tribunal this May. In their petition, members of the Jaypee Infratech Real Estate Allottees Welfare Society (JREAWS) alleged that Suraksha — which took over JIL through insolvency proceedings — had failed to mobilise the promised Rs 3,000 crore required for construction, deploy workers, or even establish escrow accounts as stipulated in the resolution plan. According to the approved resolution plan — passed by NCLAT in May this year — Suraksha was supposed to resume construction of flats within 90 days. Additionally, the buyers alleged stripping of assets, increased charges, and lack of transparency regarding critical structural audits. Suraksha, they said, had even failed to develop a mobile application they had promised to keep homebuyers informed about the status of construction, outstanding dues, and timelines. The tribunal heard the appeal by buyers on Dec 10 and issued notices to Suraksha, JIL, the Insolvency and Bankruptcy Board of India (IBBI), and Anuj Jain, the former interim resolution professional (IRP). The next hearing is scheduled for Jan 8. "No funds have been mobilised so far, which has severely hampered progress of the project," said JREAWS president Ashish Mohan Gupta, referring to the Rs 3,000 crore that Suraksha was supposed to arrange for resuming construction across nine delayed projects. The buyers — who have been waiting for their flats for over a decade — said construction activities had ceased entirely, despite promises By Suraksha to improve pace from the fourth month since the plan's approval. The limited work undertaken during the IRP regime stopped after the previous contractor's removal. Of 97 towers across nine projects, tenders were floated for only 41 towers by Aug 2024, with no progress on the remaining 56 as yet. Instability surrounding the Suraksha leadership has complicated matters further. Two of three key managerial officials appointed to oversee the resolution plan's implementation have resigned — Aalok Dave (executive director, managing director, and CEO) quit on Nov 30, while Suresh Bansal (additional executive director) left on Aug 17. The homebuyers alleged that Suraksha had unilaterally increased administrative and transfer charges, demanding more than Rs 8,000 per sqft for unsold units, which was significantly higher than the resolution plan's estimate of Rs 4,575. The company has also failed to share a structural audit report prepared by IIT-Delhi, raising safety concerns. Suraksha claimed it had secured a Rs 125-crore debt facility, a Rs 3,000-crore credit line, and Rs 1,000 crore in fixed deposits for funding the project. According to the resolution plan, the group will deliver homes to 1,700 buyers in Wish Town, Mirzapur, and Agra in four years. Sources in the company admitted that construction had taken a hit because of various stages of GRAP imposed since Nov. For the buyers, patience is waning. "We have waited long enough. Our dreams of owning a home are fading because of such unwarranted delays. We need action on the ground now," Gupta said. Source : Times of India INDIA

YEIDA’s Policies Under Review for Better Development Planning

12/21/2024 11:34:00 AM

Noida: The Comptroller and Auditor General has found that the urgency clause of the erstwhile Land Acquisition Act, 1894 was misused regularly by Yamuna Expressway Industrial Development Authority (YEIDA) when it needed land for its development projects. In its audit report on YEIDA, covering the period from 2005-21, the central auditor said the urgency clause was invoked extensively to expedite acquisition without providing legitimate justification. In numerous cases, it said, these were projects scheduled for completion in three to four years but since the urgency clause was invoked, landowners were deprived of their right to be heard. Despite this expedited approach, land acquisition took time, ranging from 137 days to 1,373 days. It also backfired, with 36 acquisition proposals lapsing due to procedural irregularities, resulting in losses of Rs 188 crore, according to the CAG report. Land was acquired under provisions of the Land Acquisition Act, 1894, till Dec 2013 after which govt enacted the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation, and Resettlement Act, which came into force on Jan 1, 2014. Out of 13,463 hectares acquired by YEIDA during the period 2005-06 to 2020-21, 77% was under provisions of the 1894 law. Of 33 land acquisitions under provisions of the old law test-checked in the audit, 26 were for the development of YEIDA townships and land needed to build Yamuna Expressway. The audit found that in 25 out of the 26 cases, the proposals were forwarded between Apr 2008 and Oct 2010. The CAG also identified several instances where YEIDA acquired land without an immediate requirement or a clear utilisation plan. For instance, in Jahangirpur village, YEIDA acquired 53 hectares of land against a requirement of just 35 hectares for a substation. The excess land, acquired at a cost of Rs 93 crore, remained undeveloped. In Vailana village, the authority purchased 58 hectares of land for Rs 68 crore, even after the cancellation of a mega residential township project, showing the lack of due diligence and foresight in its land acquisition strategy, according to CAG. Procedural inefficiencies were seen in duplication of land acquisitions, where YEIDA bought land it had already acquired under the Land Acquisition Act. In four documented cases, this oversight resulted in an excess payment of Rs 64 lakh. The authority, the audit report said, also failed to mutate the title of 149 land parcels purchased directly from landowners, exposing these properties to the risk of illegal transfers. In some cases, the landowners mortgaged the acquired land after its purchase, reflecting a severe lapse in monitoring and legal compliance. Delays in the reconciliation of funds deposited for land acquisition compounded were cited among instances of financial mismanagement. An amount of Rs 179 crore, deposited with district authorities for compensation, remained unreconciled for years. The audit further pointed out that YEIDA forwarded acquisition proposals for 82 hectares of land for villages outside its planned area under Master Plan 2031, resulting in a loss of Rs 5 crore due to the subsequent withdrawal of these proposals. In its reply, YEIDA stated that there were delays in proceedings related to acquisition of land due to farmers' protests and cases filed in courts. It further stated that proceedings related to land acquisition are handled by the additional DM (land acquisition) and YEIDA has no role in it. However, there were various delays on the part of YEIDA, such as revisions in acquisition proposals, forwarding incorrect proposals that later required corrections, and delays in depositing the amounts demanded by ADM (LA), which led to delays in handing over possession of the acquired land Source : Times of India INDIA

Gurugram Civic Body Ensures Compliance with Construction Norms

12/21/2024 11:33:00 AM

Gurgaon: The MCG enforcement team on Friday imposed a hefty penalty of Rs 5 lakh on a builder for violating the construction ban under Graded Response Action Plan — Stage 4. When the team monitored Zone-2, they found construction work ongoing at the site in Sector 113 despite the ban. The team immediately halted the construction and imposed the fine. They gave a strict warning to the project head to ensure compliance with the GRAP-4 regulations and not to carry out any construction as long as the ban is in effect. The corporation teams also issued penalties for littering on Friday. "The Commission for Air Quality Management has banned all types of construction and demolition activities in the Delhi-NCR region under the fourth phase of the GRAP. Despite the ban, the construction activities are taking place and the corporation teams are continuously taking action against those who have not stopped construction activities," MCG spokesperson SS Rohilla said. Meanwhile, during their area surveillance, the sanitation branch team discovered that a motorcycle service centre in Wazirabad was responsible for littering in a public place. The team, led by sanitation inspector Jitender Kumar, found that the service station operators were dumping waste on the road. The team immediately issued a fine of Rs 5,000 to the owner, Rajesh, and warned him not to dispose of garbage in public places, otherwise further legal action would be taken against him. The residents said that construction work persists without interruption at residential and commercial sites, disregarding the GRAP restrictions. They said that the MCG needs to enforce stricter controls and regulations. "The existing monetary fines have failed to prevent builders and property owners from continuing their construction projects. The ongoing building activities exacerbate air pollution levels, whilst residents cope with deteriorating air conditions," Shrey Sharma, a resident of Sector 43, said. Source : Times of India INDIA

NGT Takes Steps to Address Sand Mining Concerns in Yamuna Floodplain

12/20/2024 1:51:00 PM

New Delhi, Dec 19 (PTI) The NGT has sought a response from authorities, including the district magistrates of north Delhi and Ghaziabad, over alleged instances of illegal sand mining in the River Yamuna floodplain. A bench of NGT Chairperson Justice Prakash Shrivastava and expert member A Senthil Vel had taken a suo motu (on its own) cognisance of a newspaper report on the large-scale illegal mining in the floodplain between Alipur in north Delhi and Panchayara in Ghaziabad. The district magistrates of north Delhi and Ghaziabad and the Lucknow regional office of the Union Ministry of Environment, Forest and Climate Change, were impleaded as respondents in the case. The National Green Tribunal (NGT) also impleaded member secretaries of the Delhi Pollution Control Committee, Central Pollution Control Board and Uttar Pradesh Pollution Control Board. “Issue notice to the above respondents for filing their response/reply,” it said. The news report indicated to the NGT that sand miners in the region were building makeshift roads across the river, which enabled them to transport excavators and carry out mining operations in the floodplain. The article further said these roads were often constructed by placing wooden planks and sandbags across the river bed, not authorised under any mining leases, and caused considerable damage to the river’s fragile ecosystem. In its December 16 order, allegations of the river bank being “plundered by the sand mafia” and made susceptible to large-scale encroachment were noted by the NGT. “The matter indicates a violation of the Water (Prevention and Control of Pollution) Act. The news item raises substantial issues relating to compliance with the environmental norms,” it said. Source : Economic Times INDIA

Noida Administration Collaborates with Lift Manufacturers to Ensure Affordable Maintenance

12/20/2024 1:49:00 PM

Noida: The Noida district administration called a meeting of lift makers and manufacturers on Friday to discuss maintenance rates of lifts following the implementation of UP Lift and Escalator Act, 2024. Residents complained that since the act mandates manufacturers to provide maintenance, the lift makers have increased their prices. Officials said they will discuss the matter with the lift makers to find a ‘midway' that addresses residents' concerns as well as covers the costs of the lift maintenance. Officials said they will also ask the agencies to submit a list of all their lifts installed in the city along with their locations. "We will review compliance with the act and direct agencies to register their lifts and adhere to guidelines," said additional district magistrate (ADM), finance and revenue, Atul Kumar. "While the administration cannot set a rate for maintenance agencies, we will urge them to keep the rates minimum for housing societies," the ADM said. Residents have raised concerns over a provision in the act that mandates lift manufacturers to maintain and repair the machines, saying it would lead to monopoly and runaway rates. Rajiva Singh of Noida federation of apartment owners' association said, "If lift manufacturers handle maintenance, it would mean better safety and original parts being used, but this monopoly could lead to exorbitant charges." The cost of an annual maintenance contract for an elevator is between Rs 10,000 and Rs 50,000, depending on the type of lift. Source : Times of India INDIA

Endurance Technologies' MD Acquires Rs 130 Crore Bungalow in Delhi

12/19/2024 12:27:00 PM

NEW DELHI: Anurang Jain, managing director of Endurance Technologies, has bought a sprawling 1,350 square yard bungalow on New Delhi's Kautilya Marg for 130 Crore. Endurance Technologies is among the largest auto component makers in India. According to documents accessed through CRE Matrix, a real estate data analytics firm, the Jain paid ₹8.32 crore stamp duty for the transaction, which ranks among the costliest in New Delhi. Recently, Info-x Software Technology, through its director Rishi Parti, bought a 16,000 sq ft penthouse at DLF The Camellias in Gurugram for ₹190 crore in one of the costliest apartment transactions in the country. This year has seen multiple transactions of at least ₹100 crore. "The demand for prime property in New Delhi remains a priority and with a gap in demand and supply, the buyer is willing to wait. Many other transactions of similarly priced bungalows are on the verge of conclusion," said Pradeep Prajapati, founder of boutique real estate consultancy firm Wealthvisory Capital. As many as 58 ultra-luxury homes (priced at ₹40 crore and above) were sold in Delhi, Mumbai and Hyderabad in 2023, a jump of nearly four and a half times compared to the previous year, when 13 high-value transactions took place, as business owners and C-suite professionals continued to invest in properties. Source : Economic Times INDIA

Gurugram : Eight Years On, MCG Still Hasn’t Taken Over Maintenance of DLF Phases 1-3

12/19/2024 12:26:00 PM

GURGAON: Despite repeated orders from the chief minister and the department of town and country planning (DTCP) over the past eight years, MCG is yet to take over maintenance of DLF phases 1-3. In its latest submission to the Punjab and Haryana high court, MCG said it lacks funds and manpower to maintain these colonies. The case, filed by the Gurgaon Citizens Council, was to be heard on Monday but it could not take place and the next date was given for Feb 4. "It is most respectfully submitted that the colonies in question cover an area of approximately 1,500 acres. Details of infrastructure have to be added. It is respectfully submitted that in its current state, the MCG does not have the manpower or finances to remove the deficiencies and thereafter maintain the said colonies in perpetuity," MCG said in its response to the HC. The MCG submitted that the said colonies can only be taken over if the developer provides the necessary expenditure to the corporation to undertake the necessary works regarding deficiencies and maintenance. The DTCP first issued written orders in 2016 directing MCG to take over the maintenance of DLF phases 1-3. These orders were reiterated by the CM in 2017 and 2019. However, the corporation failed to act. What is particularly striking is that MCG has taken over the maintenance of other colonies developed by private builders such as Suncity, Sushant Lok, Palam Vihar, South City, Nirvana Country and Malibu Town during the same period. This raises serious questions about the reasons for the prolonged delay in taking over DLF phases 1-3, which span 1,500 acres. In May 2024, the HC directed the MCG to file a status report on the issue. In its response, MCG's executive engineer Sanjeev Kumar said that the corporation does not have the resources to maintain the large colony unless DLF Limited or the DTCP provides financial assistance. On the other hand, DLF has linked the takeover to the issuance of a completion certificate. DLF applied for the certificate in 2022, but it has yet to be granted the same, creating another layer of bureaucratic delay. Vice president and head, facility management, DLF City, Nitya Mohan said, "The MCG is not adequately prepared to manage a residential colony of this scale. There is no scope of work, request for proposal (RFP) for facility management, or manpower assessment in place. Existing colonies under MCG's care are in distress, highlighting inefficiencies. While DLF has repaired infrastructure as per the DPR, ensuring residents' convenience remains a priority." He said that the takeover of DLF phases I, II and III should only occur post-grant of completion certificates and through systematic SOPs, including RFPs for 24/7 facility operations, to avoid compromising service quality and residents' comfort. This prolonged inaction has fueled allegations of a nexus between MCG officials and DLF. Activists argue such a delay benefits the builder while depriving residents of basic services and infrastructure maintenance under public accountability. As the HC gears up to hear the matter, all eyes are on if the judiciary will push for accountability or whether it will add to the list of governance failures. Source : Time of India INDIA

Noida Authority to Demolish Over 200 Unauthorized Structures

12/19/2024 12:24:00 PM

Noida: Noida Authority has identified over 200 unauthorised buildings and is planning to demolish them. These structures, including showrooms and flats, were constructed on govt- notified land without permission. The move came after the Authority issued final notices to owners, giving them 15 days to present their cases. With the deadline approaching, the Authority plans to raze the illegal structures if the owners fail to respond satisfactorily. In the first phase of inspections, several buildings in Barola were identified for demolition. Police support has already been requested to ensure the process runs smoothly. Earlier in May, the Authority had finalised an agency to handle the demolition of taller structures. However, the matter stalled after the building owners approached the courts and sought a stay. Following the court's directive, final notices have now been issued to the owners. In Barola alone, at least 14 illegal buildings were identified. Salarpur has around 20 such structures, while Hajipur has approximately 30. Many of these illegal structures have been occupied for years and even have basic amenities like parking and electricity. The land mafias responsible for these constructions often acquired or encroached on the land by purchasing it from farmers. Since Aug, the Noida Authority, in collaboration with the district administration, conducted inspections across several villages and noted widespread encroachments on notified land. This year, the Noida Authority reclaimed approximately 45 acres of encroached land worth over Rs 900 crore. Since 2020, it freed around 135 acres of land valued at more than Rs 2,000 crore across various sectors and floodplains along the Yamuna and Hindon rivers. The encroachment issue is particularly severe in villages like Sadarpur, Haibatpur, Parthala Khanjarpur, Mamura, Sorkha Zahidabad, and Gulawali, as well as in new sectors like 150, 152, 162, and 164, which are still under development. According to official data, about 1,400 acres of land in the city remain encroached upon. Source : Times of India INDIA

SC Asks Greater Noida Authority to Propose Citizen-Friendly Solutions

12/18/2024 12:27:00 PM

New Delhi, Dec 17 (PTI) In a significant judgment, the Supreme Court on Tuesday said unauthorised constructions cannot be legitimised merely due to administrative delays, passage of time, or monetary investments and issued a slew of directions to curb illegal constructions. A bench comprising Justices J B Pardiwala and R Mahadevan said even the post-construction violations must trigger swift corrective action, including demolition of the illegal part and penalties for erring officials. The bench also upheld the demolition of unauthorised commercial constructions in a residential plot in Meerut, emphasising the need for strict adherence to urban planning laws and accountability of officials. The court issued a slew of comprehensive directions in larger public interest to streamline urban development and enforcement. "We are of the opinion that construction(s) put up in violation of or deviation from the building plan approved by the local authority and the constructions which are audaciously put up without any building planning approval, cannot be encouraged. Each and every construction must be made scrupulously following and strictly adhering to the rules," it said. In the event of any violation being brought to the notice of the courts, the bench said, it would be "curtailed with iron hands" as any leniency would amount to showing "misplaced sympathy". “Delay in directing rectification of illegalities, administrative failure, regulatory inefficiency, cost of construction and investment, negligence and laxity on the part of the authorities concerned in performing their obligation(s) under the Act, cannot be used as a shield to defend action taken against the illegal/unauthorised constructions,” it said. The regularisation schemes must be brought out only in exceptional circumstances and as a one-time measure for residential houses after a detailed survey, it said. "Unauthorised constructions, apart from posing a threat to the life of the occupants and the citizens living nearby, also have an effect on resources like electricity, groundwater and access to roads, which are primarily designed to be made available in orderly development and authorised activities,” it said. In a 36-page judgement, the apex court said that builders must pledge not to hand over buildings without completion/occupation certificates and approved building plans must be displayed throughout construction, with periodic inspections recorded. "While issuing the building planning permission, an undertaking be obtained from the builder/applicant, as the case may be, to the effect that possession of the building will be entrusted and/or handed over to the owners/beneficiaries only after obtaining completion/occupation certificate from the authorities concerned,” it said. The top court said the builder or the developer or the owner should display at the construction site "a copy of the approved plan during the entire period of construction" and the authorities concerned should inspect the premises periodically and maintain a record of such inspection in their official records. Upon inspection and being satisfied that the building was constructed in accordance with the permission without any deviation, the completion and the occupation certificates would be issued by the authority concerned without undue delay, it directed. "If any deviation is noticed, action must be taken in accordance with the Act and the process of issuance of completion/occupation certificate should be deferred, unless and until the deviations pointed out are completely rectified,” it added. All necessary service connections, such as, electricity, water supply and sewage, should be given by the service providers to the buildings only after the production of the completion and the occupation certificate, it said. "Even after issuance of completion certificate, deviation/violation if any contrary to the planning permission brought to the notice of the authority immediate steps be taken by the said authority concerned, in accordance with law, against the builder/owner/occupant…,” it said. The development must be in conformity with the zonal plan and usage and any modification to such plan and usage must be taken by strictly following the rules in place and in consideration of the larger public interest and the impact on the environment, it said. "In the event of any application...being filed by the owner or builder against the non-issuance of completion certificate or for regularisation of unauthorised construction or rectification of deviation, etc., the same shall be disposed of by the authority concerned, including the pending appeals/revisions, as expeditiously as possible, in any event not later than 90 days as statutorily provided,” it said. Banks and financial institutions should sanction loan against any building as a security only after verifying the completion certificate, it said. "The violation of any of the directions would lead to initiation of contempt proceedings...," it held. The top court directed its registrar to circulate a copy of judgment to all high courts to enable them to refer it while considering such disputes. The judgment pertained to the appeals, including the one filed by Rajendra Kumar Barjatya, against the Allahabad High Court's 2014 decision directing demolition of the illegal structures on a plot in Shastri Nagar, Meerut. The apex court upheld the high court’s judgement and passed a slew of directions to curb such activities in the country. Source : Economic Times INDIA

Supreme Court Sets New Rules to Tackle Unauthorized Constructions

12/18/2024 12:26:00 PM

Considering the plight of the hassled homebuyers, the Supreme Court on Tuesday asked the Greater Noida Industrial Development Authority (GNIDA) to submit a proposal for grievance redressal and imposed Rs 5 lakh cost on it for failing to file a timely response. A bench comprising Chief Justice Sanjiv Khanna and Justice Sanjay Kumar expressed dissatisfaction over the approach of GNIDA and said, "You are responsible for the mess. Of course, developers made money from the homebuyers. But that does not condone your acts. The bench said it may order a CBI probe into the whole "mess" if the GNIDA did not come up with a plan to redress the grievances of the homebuyers. The bench suggested the GNIDA to take over the entire land, develop the projects and give the flats to the homebuyers. Seeking a detailed affidavit from GNIDA, the bench asked it to provide information including the date of allotment of the land and the date of execution of the lease deeds in favour of the private company. Besides seeking a comprehensive proposal for the homebuyers, the bench asked the GNIDA to give information on why the allotment of land was not cancelled when the developers violated the terms of the projects. Senior advocate Shoeb Alam, appearing for over 800 homebuyers, said a PSU was willing to develop the stalled projects and pay up the dues to GNIDA and others, and moreover, no creditors or investors would have to suffer haircuts. The top court was hearing about 12 appeals arising out of a National Company Law Appellate Tribunal (NCLAT) judgment in relation to the insolvency proceedings of debt-ridden realty firm Earth Infrastructure. The NCLAT had declined a plea of a batch of homebuyers who challenged the NCLT's approval of Alpha Corp Development's bid to acquire Earth Infrastructure. The National Company Law Tribunal (NCLT) had on June 8, 2021, approved the resolution plan from Alpha Corp Development. The committee of creditor of the Earth Infrastructure had voted in favour of Alpha Corp with a majority of 99 per cent. Due to the protracted legal battle, five housing projects, three in Greater Noida and two in Gurugram, of the realty firm are stalled leaving hundreds of homebuyers in the lurch. Earlier, Alpha Corp had said it would invest around Rs 900 crore to complete the three stalled projects of Earth Infrastructure that it acquired through the insolvency process at Greater Noida. The housing projects were launched between 2010 and 2012, but were not completed in the stipulated time period. Approximately 2,900 units were to be developed in these projects. Source : Times of India INDIA

Construction of Bridge on Kaushalya Dam to Ease Journey for 50,000 People

12/17/2024 12:57:00 PM

The construction of a 210-meter bridge on Kaushalya Dam in Panchkula is expected to bring significant relief to over 50,000 residents and travelers who face challenges due to the existing road conditions. This new bridge will enhance connectivity and reduce travel time, making it easier for people to move between villages and nearby sectors. With an investment of ₹20 crore, Haryana Urban Development Authority (HSVP) has taken steps to improve the infrastructure by constructing a one-kilometer-long road connecting the bridge to the highway. The completion of this bridge will also benefit tourists visiting the Kaushalya Dam, as the road will be elevated to reduce the risk of water overflow into residential areas. The road will be equipped with attractive lighting, providing a scenic and safe route for visitors at night. This project will not only make daily commutes more convenient but will also foster tourism, economic growth, and development in the surrounding areas, including areas like Himshikha, Bhagwanpur, and newly developing sectors. This is expected to further increase the demand for properties in these areas as accessibility improves. Source : Amar Ujala INDIA

UK Property Asking Prices Experience a Modest Drop of 1.7% in December 2024: Rightmove

12/17/2024 12:54:00 PM

LONDON: Average asking prices for newly listed houses and apartments in December, but activity was robust for the time of year as movers aimed to complete sales before property purchase taxes rise in April, property website Rightmove said on Monday. Rightmove's data is not seasonally adjusted and the drop in asking prices - which followed a 1.4% fall in November - was in line with the historic average decline for the end of the year, the company said. Compared with a year earlier, asking prices were 1.4% higher. Rightmove's December period ran from Nov. 10 to Dec. 7. The number of agreed sales was 22% higher than a year earlier, while new buyer demand increased 13%. Seasonally adjusted data from mortgage lenders Nationwide and Halifax for November showed monthly price rises and the fastest annual increases in two years. Tim Bannister, Rightmove's director of property science, said there was uncertainty about how exactly the increase in stamp duty tax would impact activity next year. "The stamp duty changes are a cloud over the market at the moment, with some groups much more impacted than others, and therefore keen to avoid the additional charges," he said. From April first-time buyers in England will pay stamp duty on property costing 300,000 pounds ($380,000), rather than 425,000 pounds, other buyers will have to pay tax from 125,000 pounds and a tax surcharge for second homes will also increase. "A Bank Rate cut and some mortgage rate falls early on in the year would help to settle the market and provide a boost to sentiment and consumer confidence," Bannister said. The Bank of England is expected to hold interest rates at 4.75% on Thursday and has said future rate cuts were likely to be gradual. Investors on Friday were pricing in three quarter- point rate cuts by the BoE next year. Last week, Prime Minister Keir Starmer's Labour government, which came to power in July, announced an overhaul of the planning system to speed up housebuilding and boost economic growth. Source : Economic Times INDIA

Allahabad High Court Ruling Restores Sub-Lease Rights for YEIDA and Noida Authority Properties

12/17/2024 12:52:00 PM

Lucknow: The Lucknow Bench of the Allahabad high court on Monday set aside the two orders passed by the principal secretary of industry in which he rejected the revision petitions filed against the YEIDA & Noida authority orders cancelling the sub-lease of petitioning builders. The bench, comprising Justice Pankaj Bhatia, sent the matter to the state govt for taking a fresh decision on the two revision petitions within six weeks. The order came while disposing of the writ petition filed by UG Infrastructure Private Limited and Colourful Estate Private Limited. During the hearing, the lawyers representing the petitioners pleaded that the principal secretary, Anil Kumar Sagar, holding the charge of revisional authority, passed conflicting orders on similar petitions, denying the benefit of ‘zero-period' to the petitioning builders. Opposing the plea, additional advocate general VK Shahi and chief standing counsel Ravi Singh Sisodiya argued that the facts of the matter presented before the revisional authority were different and, therefore, the orders passed were different. The bench, however, noted that the legal position in both matters was the same. Hence, the revisional authority had no grounds to pass conflicting orders without recording different facts and reasons. Late on Saturday, the Uttar Pradesh government had removed Sagar as YEIDA chairman. He was also relieved from his other charges – principal secretary infrastructure and industrial development and IT and electronics and NRI Affairs departments – and put on the waiting list for new posting. The state govt delegated the responsibility to hear appeals to three different officials. While Abhishek Prakash, secretary IID, was deputed to take up cases of GNIDA, special secretary Ramya R was delegated the same role for NOIDA and GIDA. The responsibility for YEIDA and UPSIDA was given to special secretary Piyush Verma. Source : Times of India INDIA

DTCP Bans Sale and Purchase in Mahira Homes Societies Gurugram

12/16/2024 2:04:00 PM

Gurgaon: The Department of Town and Country Planning (DTCP) has banned the sale and purchase of properties in two societies developed by Mahira Homes Group in Sectors 103 and 104. The group came under scrutiny after it failed to deposit external and internal development charges (EDC/IDC). Earlier, a show-cause notice was issued to the developer on August 11, 2023, granting an opportunity to clear the dues and resolve disputes related to licensing documents. The builder, however, ignored the orders. This came after landowners filed complaints accusing the builder of obtaining licenses using forged documents. Mahira Group and Czar Buildwell had obtained housing licenses in 2019 and 2021 respectively. Citing the builder's negligent approach, the DTCP director asked the district deputy commissioner to ban all transactions involving land or flats in the two societies. Earlier, H-Rera had engaged experts from the National Buildings Construction Corporation (NBCC) to conduct technical and feasibility assessments of stalled Mahira Homes projects to expedite it. NBCC specialists conducted site inspections to evaluate construction progress and actual site conditions. Arun Kumar H-Rera (Gurgaon) chairman had stated that NBCC's comprehensive report would determine future actions. More than 5,000 homebuyers have been protesting against the developer due to these stalled projects that has left them grappling with uncertainties about their investments. Amid the growing tension between developers and regulatory authorities, affected residents hope for swift resolutions and stricter enforcement of housing norms. Meanwhile, this action underscores the DTCP's resolve to hold developers accountable for non-compliance with housing regulations. Experts say such measures are critical to safeguarding homebuyers' interests and curbing fraudulent practices in the real estate sector. Source : Times of India INDIA

Gaursons Sportswood Homebuyers Take Legal Action Over Registration Delays

12/16/2024 2:03:00 PM

Noida: A group of 44 homebuyers from Gaursons Sportswood — a residential project in Sector 79 — has filed a writ petition in the Allahabad high court, seeking registration of their flats that were handed to them five years ago. Unlike other housing projects — where registries are mostly marred by mounting dues — the delay in Sportswood is because of violation of the agreement. Launched in 2010, the Sportswood towers are part of Noida Authority's ambitious Sports City project — under which 70% of the land was to be set aside for sports infrastructure and the remaining designated for residential and commercial development. Four consortiums were allotted land by the Authority, with Xanadu Estate Pvt Ltd leading the development across sectors 78, 79, and 101. Xanadu subsequently subdivided the land into 16 parts, distributing them among different real estate developers within the consortium, including Gaursons. The project hit a hurdle when a 2019 audit by the Comptroller and Auditor General (CAG) identified several irregularities, including incomplete sports amenities that were supposed to come up on 70% of the allotted land. The findings prompted the Authority to suspend approvals of revised maps, stall occupancy certificates and registry applications for all Sports City projects in Jan 2021. The Sportswood buyers mentioned in their petition that the registry of their flats should be allowed because they had paid the full cost, including stamp duty. Sanwarjeet Dasoundi, one of the petitioners, pointed out that Sportswood had even received a temporary completion certificate in March 2019 after meeting construction requirements, prompting the developer to hand over flats. Gaursons was even given a no dues certificate since it cleared payments with the Authority. "But the developer failed to secure a permanent completion certificate because of unresolved policy issues related to the broader Sports City project. According to UP-Rera guidelines, completion certificates are deemed approved if not processed by the authorities after seven days. Yet, our registry process stays stalled," he told TOI. "Homebuyers have fulfilled all financial obligations, including farmer compensation, utility charges and stamp duty. But Noida Authority and the developer have failed to facilitate sublease registrations," another petitioner said. The writ petition — filed under Article 226 of the Constitution this month itself — argued that the registration delay violated the buyers' fundamental rights. It urged the court to nullify the condition linking sublease registration with permanent completion certificates so that the registries could proceed based on existing approvals. The homebuyers said they were severely impacted by the registration delay, which prevented them from selling or transferring their properties without formal ownership documentation. This limitation, they said, has also created financial hardships and restricted the buyers' ability to leverage their investments. What has compounded their concern is the possibility that circle rates in the city are expected to increase by 30% — which would significantly raise registration costs when the process eventually resumes. On Friday, the bench of Justices Manoj Kumar Gupta and Anish Kumar Gupta sought a response from the Authority on the buyers' concerns and scheduled the next hearing for Jan 10, 2025. The case's outcome could set a precedent affecting not only the 44 petitioners but also thousands of other homebuyers in Sports City projects facing similar challenges. The Sportswood project alone has 800 homebuyers. Source : Times of India INDIA

ED Acts to Safeguard Land in Goa's Anjuna and Assagao

12/14/2024 10:45:00 AM

In a significant move against illegal property dealings, the Enforcement Directorate (ED) has seized 19 properties located in the picturesque locales of Anjuna and Assagao, Goa. These seizures are linked to an ongoing investigation into a high-profile land grab case, marking a critical step in curbing fraudulent activities in the state’s real estate market. Anjuna and Assagao, known for their scenic beauty, vibrant culture, and thriving tourism industry, have become hotbeds for high-value real estate transactions. However, allegations of illegal acquisitions and land-grabbing scams have tarnished their reputation, prompting the ED to take stringent action. The seized properties include prime plots and high-value assets that were allegedly acquired through fraudulent means. This operation reflects the government’s commitment to ensuring transparency and legality in Goa's real estate sector, which has been under scrutiny for misuse by certain entities. As Goa continues to be a preferred destination for real estate investments, these developments emphasize the importance of conducting due diligence when purchasing property in the region. The ED’s proactive measures aim to restore investor confidence and uphold the integrity of Goa's real estate market. Stay informed as this case unfolds, shedding light on regulatory measures to address land-related disputes in India's coastal paradise. India

Alkem Labs Promoter Invests ₹185 Crore in Luxurious Worli Apartment

12/14/2024 10:03:00 AM

Alkem Laboratories' promoter has made headlines with the acquisition of a luxurious apartment in the upscale neighborhood of Worli, Mumbai, for an astounding ₹185 crore. This transaction is among the most expensive residential property deals in India this year, highlighting the continued demand for ultra-luxury real estate in Mumbai, a city known for its elite residences and world-class infrastructure. The newly purchased apartment is located in a premium high-rise offering panoramic views of the Arabian Sea and Mumbai’s skyline. Worli has long been a preferred destination for high- net-worth individuals (HNIs) and industrialists due to its central location, excellent connectivity, and proximity to business hubs like Lower Parel and Bandra-Kurla Complex. Such mega-deals underscore the growing trend among India's wealthy, including corporate promoters, to invest in luxury homes not just as residences but also as symbols of status and strategic investments. With world-class amenities, exclusive access, and privacy, this property aligns perfectly with the evolving aspirations of India's elite. The acquisition reflects the confidence of business leaders in Mumbai's real estate market, which remains robust despite global economic uncertainties. It also reiterates the position of Mumbai as one of the top destinations for high-value residential transactions in Asia. Stay tuned as Mumbai's real estate sector continues to attract attention with remarkable transactions like this one. India

Uttrakhand Simplifies Rules to Boost Affordable Housing

12/13/2024 11:56:00 AM

Dehradun: The state cabinet on Wednesday gave nod to the Uttarakhand Housing Policy under which it has eased norms for the economically weaker sections (EWS) for the Pradhan Mantri Awas Yojna. While the Centre permits those earning less than Rs 3 lakh for EWS homes, the state govt has raised the limit to Rs 5 lakh or less. The carpet area of EWS homes would be 30sqm and the amount charged from the beneficiaries would be Rs 9 lakh for one unit. Similarly, the criteria for lower income group (LIG) and lower middle income groups (LMIG) has also been defined. People earning Rs 5 lakh to Rs 9 lakh have been included in the LIG group and those earning Rs 9 lakh to Rs 12 lakh are in the LMIG category. The rate for LIG houses, with carpet area from 30 square metres (sqm) to 45 sqm, would be Rs 14 lakh and for LMIG homes of 45 sqm to 60 sqm would be of Rs 25 lakh per unit. The consumer state subsidy has been raised from Rs 1.5 lakh to Rs 2 lakh. Besides, the state will promote row housing in the hill areas of the state. It will also provide roads for last mile connectivity and the private developers of row housing will be given subsidies. Earlier, govt had announced 50% subsidy for consumers using less than 100 units electricity in the plains and 200 units in the hills. The cabinet has authorised district magistrates to form teams to check if consumers are violating norms to avail the subsidy both in plains and hills. "An amount which is double the subsidy availed will be recovered from those violating norms," energy secretary R Meenakshi Sundaram said. Further, Uttarakhand Transport Corporation has been authorised to purchase 100 new BS6 buses for which the principal amount will be given by the department and the interest by state govt. The project will cost Rs 34 crore. Also, the formation of the Transgender Welfare Board (TWB) has been approved to protect rights of trangender persons. Presently, 19 states and UTs have TWBs. A proposal to have concept of one-time user charges in medical colleges was also approved. The cabinet also gave nod for a secondary education department proposal which allows students, who have undergone a sex-change operation, to get the name and sex changed in their academic record. "In accordance with the central law, a provision has been made and the change has been approved by the cabinet," IAS officer Shailesh Bagauli said. The cabinet also gave a nod to a higher education department proposal for educational tours for students and teachers. Additionally, dress allowance of govt drivers in different departments has been raised from Rs 2,400 to Rs 3,000 per year. Source : Times of India INDIA

Haryana RERA Ensures Compensation for Green View Buyers Until Flat Handover

12/13/2024 11:55:00 AM

Gurgaon: The Haryana Real Estate Regulatory Authority (HRERA) ordered the National Buildings Construction Corporation (NBCC) to pay a rent of Rs 30,000 to the allottees of the Green View Society in Sector 37D. The decision came after two allottees, Saurabh Mehta and Jai Prakash Mehta, had filed a complaint with the regulatory body following structural audits conducted by IIT-Roorkee and the Central Building Research Institute (CBRI) found the Green View Society project ‘unsafe' for living. The residents were asked to vacate their flats by March 2022. "Respondents to pay amounts of compensation described above within one month of this order; otherwise, they will be liable to pay the amount with interest at 10.5 percent per annum till realization of the amount," said the order issued by the Rera court. When TOI contacted NBCC officials, they did not comment on the matter. Earlier this year, the district administration had denied NBCC permission to demolish the society, citing ongoing legal disputes and pending compensation claims, particularly from Economically Weaker Section (EWS) allottees. EWS flat owners had approached the Delhi High Court, objecting to the demolition and alleging that NBCC did not settle their compensation claims. During a Samadhan camp organized by the district administration, EWS allottees reiterated their concerns about unresolved compensation and sought clarity on their claims. The district town planning enforcement (DTPE) informed NBCC that further demolition proceedings could only take place with permission from the Delhi High Court. DTPE also urged the deputy commissioner to issue guidelines enabling EWS allottees to register their flats and secure their claims against NBCC. NBCC, in its defence, highlighted structural dangers posed by the seven towers and requested urgent approval for demolition. The developer cited a 2022 order from the district magistrate and DDMA, which underscored risks to life and property. Source : Times of India INDIA

Delhi LG Orders Security and Infrastructure Revamp in Narela to Enhance Housing Development

12/12/2024 12:03:00 PM

New Delhi: Lieutenant governor V K Saxena on Wednesday assessed security and civic infrastructure services in Narela sub-city for housing societies and industries operating in the area. During a joint meeting with, LG directed authorities like DDA, Delhi Police, MCD and the revenue department to implement some urgent measures. These included recruitment within the next 15 days of 500 ex-servicemen to provide round-the-clock security at DDA housing societies; allocation of dedicated PCR vans for night patrols; and establishment of police beats in unoccupied flats to create a safer environment. MCD was asked to complete road repairs in mission mode, ensure proper garbage disposal, and install streetlights and CCTV cameras at key spots to protect against vandalism. Delhi Police was directed by LG to launch a drive for identifying repeat offenders in the vicinity to prevent crime and illegal encroachment of public land, said an official. Saxena also stressed on transforming the place into a hub for educational and sports activities and clearing DDA's unsold inventories in various residential pockets of Narela by offering the flats at discounted and affordable prices. "Efforts are being made to improve the infrastructure in Narela industrial area, Bawana and Bhorgarh to attract industrial units," said the official. In the meeting, LG pointed out several residents had complained in their presentations about law and order problems. The DCP also apprised him of persistent issues in the locality that resulted in street crimes and petty thefts. "Delhi Police officials were directed to ensure visible policing, particularly near the housing societies, and regular patrolling by dedicated PCR vans at night in Narela. When the issue of lack of infrastructure for a police chowki was also raised, LG asked DDA to provide its vacant flats at a suitable location for creating police posts," said the official. The DCP also highlighted there were several dark spots in the area which were prone to crime. LG directed DDA officials to identify such dark stretches in consultation with local police and ensure proper lighting on an urgent basis. Incidents of scaling of low-height boundary walls of housing societies by petty criminals and destruction of CCTV cameras and streetlights were reported frequently. "DDA was asked to raise the height of the boundary walls and protect them with barbed wire fencing. CCTV cameras and streetlights were also asked to be installed at appropriate heights that would not be easily scalable," said the official. Source : Times of India INDIA

Gurugram Authority Orders M3M Woodshire to Rectify Unauthorised Connections

12/12/2024 12:02:00 PM

Gurgaon: To cut off illegal water connections and repair a deteriorated pipeline supplying water to the condominium in Sector 107, GMDA has instructed the management of M3M Woodshire to take necessary actions. This came after residents raised concerns during a grievance meeting with Badshapur MLA Rao Narbir Singh last month. During an inspection by GMDA officials, it was found that 450 kilolitres per day (KLD) of water were being drawn through the pipeline, and only 150 KLD reached the condominium. The shortfall of 300 KLD was attributed to unauthorised connections and leakages, with 8 to 10 incidents of pipeline leaks occurring weekly. "While we maintain the master water supply infrastructure, the responsibility for managing and securing internal property infrastructure, including water lines, lies with the developer or the RWA. We have already instructed them to disconnect unauthorised connections and replace the pipeline," said a senior official of GMDA. To meet their water requirement, residents of M3M Woodshire, home to around 950 families, shell out somewhere around Rs 30 lakh quarterly on water tankers. Atul Nagpal, a resident, said, "Water is a basic requirement; still, we are not getting adequate GMDA supply. A major portion of the maintenance bill is for water bills, and despite that, the quality of water is substandard. If there are challenges, government agencies must intervene, and they cannot shun their responsibility." Meanwhile, the M3M India spokesperson clarified that the Woodshire estate was handed over to the RWA in December 2020. "Since January 2021, the RWA has been responsible for the maintenance of the complex and its services," the spokesperson said. However, RWA President Swaraj Verma claimed that the project was not fully handed over to them. "While we manage the day-to-day affairs of the society, the developer is still rectifying pending deficiencies. Discussions with senior management of the developer are ongoing to replace the pipeline," he said. Source : Times of India INDIA

YEIDA to offer Hotel Plots before Noida Airport Launch

12/11/2024 1:32:00 PM

Noida: Yamuna Expressway Industrial Development Authority (YEIDA) is set to unveil a premium hotel plot scheme, months before the launch of the Noida International Airport in April next year. The scheme — scheduled for launch on Wednesday — encompasses 12 premium plots across sectors 28 and 29, specifically designed to accommodate high-end hospitality projects, including five-star hotels. In Sector 28, two expansive land parcels are being offered — a 10,000sqm plot priced at Rs 65.3 crore and a flagship 20,000sqm plot valued at Rs 130.6 crore, inclusive of location charges. These plots represent a combined investment opportunity of Rs 195.9 crore. The scheme extends into Sector 29 with 10 diverse plots ranging from 3,100 sqm to 6,400 sqm. The largest plot in this sector, measuring 6,400sqm, carries a reserve price of Rs 43.8 crore. Two 4,000 sqm plots are priced at Rs 26.1 crore and Rs 24.9 crore. Five mid-sized plots of 3,400 sqm each are valued between Rs 21 crore and Rs 22 crore, while two 3,100 sqm plots will range from Rs 19.3 crore to Rs 20.2 crore. The total value of Sector 29 plots amounts to around Rs 276.2 crore. The entire scheme, offering a cumulative area of 67,800 sqm across both sectors, represents a total investment opportunity of Rs 472.2 crore. The strategic location along the Yamuna Expressway ensures excellent connectivity to the upcoming airport, making these plots particularly attractive for premium hospitality projects. YEIDA has structured the scheme to accommodate various business entities, including proprietors, partnership firms, LLPs, and private/public limited companies, with provisions for FDI in accordance with govt regulations. The allocation process will be conducted through a transparent e-auction system. This initiative follows previous attempts at hotel plot allocation, including one in Feb this year in Sector 28, which faced scrutiny after two plots were awarded to the same company. The authority's renewed effort reflects its commitment to developing robust hospitality infrastructure in anticipation of the airport's inauguration. Source : Times of India INDIA

Ghaziabad: Development Body May Amend Bylaws to Mandate Solar Panels for Residential Buildings

12/11/2024 1:30:00 PM

Ghaziabad: Ghaziabad Development Authority (GDA) is set to amend its building bylaws to make solar panels mandatory for all plotted residential properties. Under the proposed rules, all plots of 100 sqm and above will have to generate at least 1kW of solar power. Earlier this month, Lucknow Development Authority (LDA) revised its solar panel installation guidelines to make it mandatory for all residential properties with a plot size of 1,00 sqm or more to install rooftop solar panels under the PM Surya Ghar scheme. "Once implemented, approval of building maps will be subject to provision for solar panels. No completion certificate will be issued if the provisions are not made," a GDA official said. The Authority has now asked the town planner to draw up a draft that is to be tabled before its board in the next meeting. The move, officials said, aligns with the state govt's plan to make Ghaziabad a ‘solar city' and meet cover more than 10% of the city's total electricity requirements by 2027 from solar power. The Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA), which is developing Ghaziabad as one of the 18 solar cities of the state, recently undertook segment-wise — residential, commercial, govt, industrial and educational institutions — rooftop solar photovoltaic (PV) potential of the city and found it has a potential to generate about 2,858 MW solar energy. Earlier, UPNEDA director Anupam Shukla told TOI an estimated 2,014 MW of power can be derived from solar panels installed on rooftops of residential dwellings alone. The study also showed that 616 MW solar pwer could be derived from panels installed at industrial sites, 107 MW from commercial buildings, 73 MW from educational establishments, 35 MW from govt offices and 14 MW from healthcare institutions. Compared to conventional sources, solar energy is cheaper by at least 30% with both state and central govts offering subsidies and know-how for the installation of solar panels. For the installation of solar rooftop panels in residential areas, Rs 14,588 per kilowatt is offered as a central subsidy. Beyond 3KW consumption, the subsidy will be halved to Rs 7294/KW. The state govt, on the other hand, provides a subsidy of Rs 15,000 per kilowatt, with a maximum of Rs 30,000 per KW. For a three- or four-bedroom flat, the estimated cost of installing solar panels comes to around Rs 2 lakh. There is also the concept of net metering, under which excess or unused solar energy will be passed on to the main grid of the power department, and the amount subsidised during billing. Source : Times of India INDIA

Gurugram: All towers of Chintels Paradiso declared unsafe, set for demolition

12/10/2024 12:42:00 PM

GURGAON: The last of Chintels Paradiso's towers to be assessed for structural defects was declared unsafe for habitation on Monday, closing a 34-month loop that has seen all nine residential towers of the condominium where flats sold for at a range of Rs 75 lakh to Rs 1 crore when it went to the market in 2012. In its latest report, Central Building Research Institute (CBRI) has found that Tower B has severe structural flaws, including widespread cracks, corroded reinforcement bars and substandard concrete, findings similar to those in the other towers. What this means is that Tower B will also have to be evacuated and Paradiso will become perhaps the first modern condominium in the country – Paradiso was completed in 2011 – that will be brought to the ground, another dubious first for NCR, which has already seen the razing of the Supertech twin towers in Noida. The structural assessments of Paradiso's towers began after a vertical collapse of living rooms of flats across five floors in Tower D on Feb 10, 2022 led to the death of two residents, which was followed by days of protests on the compound, with residents accusing the developer of not reacting on time to concerns like sagging balconies that they had raised. Tower D was evacuated immediately after the cave-in. The other towers followed over the months, a process that was slow but had an air of inevitability about it as tower after tower was found to have the same defects. "Corrosion in reinforcement bars, poor concrete quality, and significant structural deterioration were identified as critical safety risks. Experts also noted visible puffing of tiles, bulging floors and damaged balconies, with many elements showing signs of advanced corrosion. The building is beyond repair and recommended demolition is the only feasible solution," the CBRI report says of Tower B. Read the report on any of the other towers (A-J, the condominium has no Tower I) and the inference is similar – poor concrete and corrosion. The condominium, where possession of flats began from 2014-15, has a total 532 flats. Developer Chintels India, which wants to rebuild the condominium, has now written to the district administration, urging it to expedite evacuation of Tower B and towers A and C, where families continue to live. In its letter, Chintels highlighted the urgent need for demolition to prevent potential disasters. The letter also noted that the administration had previously applied the National Disaster Management Act to six towers—D, E, F, G, H, and J— and ordered their demolition in April 2024 after they were declared unsafe. Chintels has announced a one-time shifting allowance of ₹40,000 for each flat owner in towers A, B and C. Edifice Engineering, the company that brought the twin towers down, has been engaged to demolish Paradiso and Chintels has revised its contract to include Tower B. The company, which has given a buyout option to residents who sought a refund, said owners of flats in Tower B would be entitled to the same, based on current market value of their flats and interior costs at rates determined in collaboration with the administration. In Feb 2022, the administration had called IIT-Delhi to assess the structural safety of the towers. Subsequently, towers E and F were declared unsafe in March 2023, G in June 2023, H in July 2023, J in Jan 2024, C in Aug 2024 (done by CBRI), A in Oct 2024 (CBRI), and finally B (also CBRI). Towers D, E, F, G, H and J have been fully vacated. A total of 56 residents remain in flats in tower A, 54 in B, and around 30 in C. So far, the district administration has officially declared towers D, E, F, G, H and J as unsafe and ordered demolition. The administration has assured residents demolition will be carried out in a phased manner to minimise disruption. Mukesh Singhal, a resident of tower B, said, "I am a retired person with no pension or any other source of income. We are being asked to vacate the flat for no fault of ours. At the age of 72, I cannot wait 5-6 years for the house to be reconstructed. For me, the best option is that the developer buys back at the current market rate." Santosh Vasudevan, who lives in B-304, had a different view. "Looking at the current situation arising out of the tower being declared unsafe, our demand is clear and uncompromising. We demand rebuilding and a house of the same size at the same location, and the builder to pay rent at the market rate from the date of vacation till the possession of the newly built apartment," he said. RWA president Rakesh Hooda said, "The builder should meet and address towers A, B and C flat owners' concerns and get them on board for reconstruction so that the complete project can be taken up together." Source : Times of India INDIA

Lift Registrations in Noida Stalled Due to Disagreement between Resident and Administration over Guidelines

12/10/2024 12:40:00 PM

Noida: Since the implementation of the Lift Act in UP, the registration process for elevators has ground to a virtual halt — with both residents and administration officials pointing fingers at each other for the delay. Residents alleged they were neither invited to clarification meetings nor issued any guidelines regarding the registration of lifts in their compounds. "There has been no official communication from the administration regarding lift registration, nor are residents aware of how to carry out the process. Consequently, lift registration has taken a backseat," said Abhishek Kumar, president of NEFOWA (New ERA Flat Owners Welfare Association), which represents around 100 highrises in Greater Noida West. On Nov 21, a delegation from Noida Federation of Apartment Owners' Association (NOFAA) — representing over 100 societies in Noida — met the district magistrate and additional district magistrate, seeking clarity on the registration process. RWAs, however, have yet to initiate lift registrations since that meeting. "We have been waiting for proper guidelines from the administration to streamline the registration process and clarify our doubts regarding document submission and other queries. The ADM promised a meeting with all AOAs, but this hasn't materialised yet," said NOFAA president Rajiva Singh. The situation is no different in Ghaziabad, where Deepak Kumar, president of the Federation of AOAs, confirmed they haven't received any information about lift registrations. "The Ghaziabad administration should meet AOA representatives to create awareness about the registration process. Currently, residents are uninformed about the procedure," Kumar said. Administration officials, however, insisted that the responsibility of registering lifts lies solely with the residents. Atul Kumar, additional DM (finance/revenue) of Noida, said, "All registrations must be completed through the UP directorate of electrical safety website (updeslift.org). The district administration has issued multiple public advisories and announcements through press releases. Some societies have already begun the process." His Ghaziabad counterpart Saurabh Bhatt added, "We will soon send notices to highrise societies and other establishments with lifts, reminding them to register under the UP Lift Act." This lack of coordination has left crucial safety measures in a limbo and raised concerns about compliance and accountability. Lift accidents, meanwhile, have been continuing. On Sunday night, lift operations in Tower 4 of Shree Radha Sky apartment in Greater Noida West were suspended for an hour. On Friday, a couple were trapped in Tower F's lift at Gulshan Botnia society in Sector 144 for nearly an hour. Residents subsequently filed a police complaint against the maintenance agency. Under the UP Lift Act, all lifts and escalators must be registered within six months. Noida DM Manish Verma clarified that in residential societies, RWAs and AOAs are responsible for registration. In societies without established RWAs or AOAs, maintenance agencies or developers must handle registration. The Act requires lift operators to maintain accident logbooks, sharing them with local administration or electrical safety officers when requested. Negligence or failure to comply attracts penalties. For lift-related accidents, the DM can conduct joint investigations with electrical inspectors and executive magistrates. Source : Times of India INDIA

Gurugram Focuses on Clean Air: Rs 37 Lakh Collected in GRAP Fines to Improve Environment

12/9/2024 12:26:00 PM

Gurgaon: MCG has issued 879 challans since the implementation of the graded response action plan (GRAP), imposing penalties amounting to Rs 36.7 lakh for various environmental violations. Over half of the fines (56%) were issued to construction sites smaller than 500 sq metres for failing to implement dust control measures. Penalties worth Rs 6 lakh were also levied for the illegal dumping of construction waste, officials said. Illegal dumping of solid waste accounted for the highest number of challans (331), with fines totaling Rs 5.4 lakh. Additionally, 259 challans worth Rs 2.18 lakh were issued for the use of single-use plastic, and 21 challans amounting to Rs 1.05 lakh were imposed for waste burning under GRAP guidelines. MCG commissioner Ashok Kumar Garg emphasised the collective responsibility for environmental protection. "A clean environment is crucial for life, and everyone must contribute to protecting it. Activities prohibited under GRAP, such as waste burning, using single-use plastics, or transporting uncovered debris, will result in penalties and possible legal action," Garg said. GRAP guidelines are enforced based on the air quality index (AQI). Stage 1 is implemented when AQI is between 201-300, Stage 2 for AQI between 301-400, Stage-3 for ‘severe' AQI (401-500), and Stage 4 for AQI beyond 500 (‘severe+'). To mitigate pollution, the MCG has deployed anti-smog guns to spray treated water from sewage treatment plants on roads and trees. Additionally, mechanical sweeping of roads is carried out at night, officials added. Source : Times of India INDIA

Delhi Metro Expands to Kundli, Boosting Connectivity and Real Estate Growth in NCR

12/9/2024 12:23:00 PM

New Delhi: Kundli in Haryana will become the sixth NCR city for the Delhi Metro to enter after Noida, Gurgaon, Ghaziabad, Bahadurgarh and Faridabad. The Rithala-Narela-Kundli will be an extension of the Red Line (Rithala to Shaheed Sthal). The Union cabinet approved this metro corridor on Friday, which is set to become the first-ever corridor to connect Haryana and Uttar Pradesh via Delhi. This new corridor will be an extension of the Red Line, which goes all the way up to Ghaziabad in Uttar Pradesh, covering important locations in central and east Delhi. The Red Line will be the fourth line to enter Haryana after the Yellow Line (Gurgaon), Violet Line (Faridabad) and Green Line (Bahadurgarh). Apart from Haryana, Delhi Metro's network covers two cities of Uttar Pradesh: Noida and Ghaziabad through two Blue Lines. With a total length of 26.5 kilometres, the Rithala-Narela-Kundli corridor will have 21 stations. Narela and Rohini sub-cities will also get a major connectivity boost after this corridor becomes operational. Many housing projects and educational institutes are being developed in these two sub-cities. As this corridor goes up to Kundli in Haryana, it will have no interchange station. The main stations on the corridor will include seven sectors of Rohini, Barwala, Sanoth, New Sanoth, the Bawana industrial area, Anaaj Mandi, Narela DDA Sports Complex, Narela Village, Depot Station and Narela Sector-5. In March, the cabinet approved the Lajpat Nagar to Saket G Block and Inderlok to Indraprastha corridors, which are extensions of the Golden and Green lines, respectively, under Delhi Metro Rail Corporation's phase IV expansion. "Both corridors are in the pre-tendering stages and work is in progress regarding getting the necessary statutory clearances," said a senior DMRC official. Besides, DMRC is currently constructing 65-km of three priority corridors under phase IV—Janakpuri West to RK Ashram, Majlis Park to Maujpur, and Aerocity to Tughlaqabad. The 12.3-km corridor from Majlis Park to Maujpur (Pink Line) is expected to be ready by 2025, while the construction of Aerocity to Tughlaqabad (Golden Line) and Janakpuri West to RK Ashram (extension of Magenta Line) is likely to be completed by 2026. However, DMRC plans to open different sections of the priority corridors in a phased manner by 2026. A 2.5-km long section from Janakpuri West to Krishna Park Extension on the Janakpuri West-RK Ashram Marg Metro corridor of Phase-IV is expected to open to the public soon. Source : Times of India INDIA

Son Wins Rs 37 Lakh Compensation for Property Possession Delay in Landmark NCDRC Ruling

12/7/2024 10:24:00 AM

In a significant judgment, the National Consumer Disputes Redressal Commission (NCDRC) has ordered a builder to pay Rs 37 lakh as interest compensation to a homebuyer for an inordinate delay in handing over property possession. The complainant, a son fighting for justice on behalf of his family, argued that the builder failed to meet the promised timeline for delivering the residential property, causing financial and emotional distress. The compensation was calculated based on the agreed interest rate on the amount already paid by the buyer. This case highlights the growing reliance on consumer forums like the NCDRC and the Real Estate (Regulation and Development) Act (RERA) to address grievances in the real estate sector. Such rulings are reshaping the landscape of Indian real estate by holding builders accountable and ensuring better protection for homebuyers. The decision reinforces the importance of timely project completion and adherence to contractual obligations, making it a landmark victory for consumers across the country. Learn how this ruling could influence future real estate disputes and improve transparency and accountability in the sector India

₹190 Crore Penthouse Sold in Gurugram’s DLF Camellias: A Record-Breaking Luxury Real Estate Deal

12/7/2024 9:41:00 AM

DLF Camellias, Gurugram's ultra-luxury residential project, has witnessed a record-breaking transaction with the sale of a ₹190 crore penthouse. Spanning an impressive 16,000 square feet, this opulent property features 8 spacious bedrooms, a private swimming pool, and a stunning terrace garden. This deal highlights the growing demand for high-end real estate in India, showcasing the allure of exclusive living spaces equipped with world-class amenities. Positioned as one of the most expensive residential property transactions in the country, it reaffirms Gurugram's status as a hub for luxury real estate. Explore the rise of premium property investments in India through this landmark sale. India

Gurugram DC Encourages Builder to Prioritize Timely Safety Audits

12/5/2024 12:07:00 PM

Gurgaon: Deputy commissioner Ajay Kumar, in a meeting with builder management teams, stressed the urgency of expediting the structural audit in residential societies. He expressed dissatisfaction with builders delaying deposit of their share of audit fees, calling such behaviour ‘irresponsible' towards citizens' safety. "Delaying the structural audit and fee deposits shows a lack of accountability towards citizens' safety. Such behaviour is unacceptable," he stated, directing the defaulting resident welfare associations (RWAs) to attend a separate meeting and instructed builders to ensure compliance swiftly. Additional deputy commissioner (ADC) Hitesh Kumar Meena clarified that in order to ensure faster completion of audits, builders were also given the option of choosing non-empanelled agencies with RWA approval. In the first phase, 15 societies were covered. District Town Planner (DTP) Manish Yadav said that while testing in 11 of these were complete and repairs initiated in two, pending fees in others was delaying the process. In the second phase, which included 23 societies, builders of 20 societies and RWAs of 22 societies were yet to submit their fees. According to the DC, structural audits were critical for identifying vulnerabilities and initiating timely repairs to prevent potential hazards. He warned builders of strict action if further delays occurred, reiterating the administration's commitment to safeguarding residents' well-being. He also stressed on the importance of builders and RWAs working collaboratively and complying with directives to avoid penalties. Source : Time of India INDIA

Gurugram : Buyers Alert! Orris Infrastructure Clarifies Impersonation Fraud Case

12/5/2024 12:06:00 PM

Gurgaon: Three men have been charged with cheating after they allegedly cheated property buyers of Rs 1 crore by posing as real estate company sales representatives. The fraudsters posed as agents of Orris Infrastructure and sold some plots on behalf of the company. This came to light after Puneet Sain, the company's representative, registered a cheating case against Gurmet Singh, Parminder from Palam Vihar, and others involved in the scam. Sain alleged that in April 2023, they found that the accused took cash in the name of token money from the victims to facilitate the plot allotment, and the buyers never received the confirmation letter, they visited the company's office and found out about the scam. "On April 4, two customers, Amit Jain, and Vipul Jain, approached us saying that they paid Rs 3.5 lakh in cash to Gurmet and Parminder. Each of them also gave checks for Rs 10.61 lakh in the company's name. The fraudsters used to ask victims to issue checks in the company's name to appear legitimate," the complainant said, adding that "the accused took a token amount in the form of cash from the victims for facilitating the plot allotment in one of our ventures, the Wood View Residency Project at Sector-89." The complainant explained, "The same fraudsters duped about 10 to 11 victims for about Rs 1 crore and collected cash towards the token amount for plot allotment." A case was registered on Tuesday under sections 420 (cheating and dishonestly inducing delivery of property) and 120-B (criminal conspiracy) of the IPC at Sector-10 PS against the accused. "We registered a case on the complaint of Orris Infrastructure Pvt Ltd, and now the Economic Offences Wing will investigate it," said police. Source : Time of India INDIA

YEIDA Hi-Tech Township: Over 34000 Registrations Highlight Strong Interest Near Jewar Airport

12/4/2024 1:01:00 PM

Lucknow: Over 34,000 people registered for YEIDA's hi-tech township coming up near the Jewar International Airport, an official spokesperson said on Thursday. "This ambitious project is situated in Sector-24A of Noida, which is one kilometre from the International Film City, 500 metres from the Yamuna Expressway, and close to the MotoGP track. As many as 62,865 individuals purchased brochures, while 34,180 people registered for it," the spokesperson stated, informing that the final date for registration is Nov 30, with the lottery draw scheduled for Dec 27. The township, which promises state-of-the-art amenities and enhanced living standards for residents in the region, will offer 451 residential plots in various sizes. The details are as follows: 100 plots of 120 square metres, 169 plots of 162 square metres, 172 plots of 200 square metres, 6 plots of 250 square metres, and 4 plots of 260 square metres. Additionally, 17.5% of these plots have been reserved for the state's farmers. TNN Source : Times of India INDIA

Gurugram Air Quality: Improvement Needed as Construction Continues Despite Measures

12/4/2024 12:15:00 PM

Gurgaon: One day after the city witnessed a short-lived respite with ‘moderate' air, the air quality again dipped to the ‘poor' category with no expected improvement. Continued construction activities, despite the enforcement of stage 4 restrictions under the Graded Response Action Plan (GRAP) across Delhi-NCR, only added to the woes. It continues in areas such as Sushant Lok, sectors 30, 51, 28, and 44. Due to their smaller scale of operations, house redevelopment and expansion sites often evade getting caught. Additionally, construction waste is dumped along roadsides, and workers are busy grinding stones. A fine layer of dust covers everything — buildings, trees, vehicles, and even the workers who continue working without dust masks. The air quality index (AQI) was recorded at 226 (poor) on Tuesday. At a reading of 267, Teri Gram was the worst hit, followed by Sector 51 (254), and Gwalpahari (247) -- all in the ‘poor' category. The monitoring station at Vikas Sadan recorded a ‘moderate' AQI of 108. Most construction sites operating despite the ban in Gurgaon do not follow the basic guidelines of the Union Ministry of Environment, Forests and Climate Change, including shuttering the construction area with green sheets, sprinkling water, and covering vehicles carrying construction and demolition (C&D) waste. As a result, their immediate vicinity has turned into dust bowls. "Seasons change throughout the year, but what remains constant are the lanes covered in dust. Nobody cares about the health of residents. The civic bodies do not visit the sectors to check whether the construction activities have stopped given the GRAP orders," said Sector 45 resident Amit Yadav. Rohit Rai, a resident of Sushant Lok, said, "Construction activities continue at night in residential areas, which also violates the norms. The sites do not have any covers to stop dust from dispersing. The HSPCB officials keep a tab on the large construction sites but the smaller ones operate without any checks." Though the norms are very clear, most of the sites that TOI visited were found transporting construction material in trucks without covering. The truck wheels were not washed, thus carrying dust outside of the premises. C&D waste was seen dumped along the roadsides, and stone grinding was being carried out in the open. The authorities, meanwhile, claimed they are taking measures to mitigate air pollution. "We are taking action against sites that are more than 20,000sqm in area. Smaller sites are under the jurisdiction of MCG. The civic agencies have been asked to ensure that their sites follow the norms," said Vijay Chaudhary, HSPCB regional officer of Gurgaon. Source : Times of India INDIA

Godrej Properties Raises Rs 6000 Crore for Expansion and Innovation

12/3/2024 12:16:00 PM

Shares of Godrej Properties Ltd are in focus on Tuesday morning after the company said it has concluded its qualified institutional placement (QIP), raising a total of Rs 6,000 crore from five qualified institutional buyers. Shares were issued to Franklin India ELSS Tax Saver Fund (20,84,584 shares or 9.01 per cent of total issue size), Government Pension Fund Global (15,41,425 shares or 6.66 per cent), BlackRock Emerging Markets Fund (14,53,233 shares or 6.28 per cent), Government of Singapore (14,07,618 shares or 6.08 per cent) and NPS Trust- A/C SBI Pension Fund Scheme - Central Govt (14,06,551 shares or 6.08 per cent). The issue ran from November 27 to December 2. Godrej Properties shares settled at 2,905 on Monday, up 4.64 per cent. The stock is up 45 per cent in 2024 so far and 52 per cent in the past one year. Godrej Properties said the QIP placement committee of its board has, at its meeting held today i.e. December 03, approved the issue and allotment of 2,31,21,387 equity shares to eligible qualified institutional buyers at an issue price of Rs 2,595 per equity share, which includes a discount of Rs 132.44 per equity share or 4.86 per cent over the floor price of Rs 2,727.44, as determined in terms of the SEBI ICDR Regulations. "Pursuant to the allotment of securities in the issue, the paid- up equity share capital of the company stands increased from Rs 139.03 crore, comprising of 27,80,62,112 equity shares to Rs 150.59 crore, comprising of 30,11,83,499 Equity shares," Godrej Properties said. Source : Economic Times INDIA

Smartworks Gets SEBI Approval for IPO, Unlocking New Growth

12/3/2024 12:15:00 PM

Logistics firm Ecom Express and coworking space provider Smartworks have both received approval from the Securities and Exchange Board of India (SEBI) for their initial public offerings (IPOs). Ecom Express, which filed its draft red herring prospectus (DRHP) in August, aims to raise Rs 2,600 crore through its IPO. This includes a fresh equity issue of up to Rs 1,284.5 crore and an offer for sale (OFS) totalling Rs 1,315.5 crore. As part of the OFS, Partners Group will divest shares worth up to Rs 931 crore, while Warburg Pincus and BII (formerly CDC Group) will sell shares valued at Rs 211 crore and Rs 137 crore, respectively. This marks the 13-year-old firm's second attempt at going public after pausing its Rs 4,860 crore IPO plan, which was approved in February 2022. In the logistics sector, Delhivery and Blackbuck are already listed, with Shadowfax also preparing for their IPO. Meanwhile, Smartworks, which filed its draft IPO papers in August, plans to raise Rs 550 crore through a fresh equity issue and an offer for sale (OFS) of 67.49 lakh equity shares by its promoters. As of March 2024, Smartworks operates in 13 cities, including Bengaluru, Kolkata, Delhi NCR, Mumbai, and Pune, with a portfolio of 41 centers covering 8 million square feet. Smartworks is set to become the second coworking firm to list on the stock exchanges, after Awfis. Other players like WeWork India, Simpliwork, Table Space, DevX, and Indiqube are also gearing up for their own IPOs. Source : Economic Times INDIA

Noida : YEIDA Launches 20 New Plots Across Three Sectors, Offering Fresh Investment Opporunities

12/2/2024 12:32:00 PM

Noida: To boost residential development, the Yamuna Expressway Industrial Development Authority (YEIDA) has launched a new group housing scheme, offering 20 plots across Sectors 17, 18, and 22D. The scheme features six plots in Sector 17, five in Sector 18, and nine in Sector 22D, with sizes ranging from 11,513.72 sqm to 89,034 sqm. In Sector 17, plots range between 11,513.72 sqm and 24,282 sqm, with a base price of Rs 32,375 per sqm. Sector 18 includes uniformly sized plots of 16,188 sqm, while Sector 22D offers the widest range, with plot sizes starting from 20,235 sqm and going up to the largest plot in the scheme, which spans 89,034 sqm. Meanwhile, developers are required to pay a registration fee or an earnest money deposit (EMD) ranging from Rs 3.73 crore to Rs 30.27 crore to participate in the scheme. The application process began Thursday and will remain open until Dec 18. An e-auction to allocate the plots is scheduled for Jan 20, and incremental bid values are set at 1% of the base price. Source : Times of India INDIA

Delhi Development Authority Empowers Residents with 83 Conveyance Deeds Under PM-UDAY

12/2/2024 12:31:00 PM

Noida: The Allahabad high court's Lucknow bench has quashed orders by Noida Authority and UP govt that rejected a building map application filed by two landowners. Kapil Misra and another villager — the petitioners — sought the Authority's permission to construct residential buildings on a Sector 45 plot that they received through an exchange agreement over a decade ago. The case dates back to 2011, when the two petitioners received land from the govt. They initially owned a 10,870sqm plot in Rohillapur village of Sector 132, which the state govt acquired from them in 2006 for development. But the high court quashed this acquisition in 2009. The Authority then compensated the villagers by transferring land of equivalent size in Sadarpur of Sector 45 through an exchange deed in 2011. In 2021, the petitioners sought the Authority's permission to develop group housing on the Sector 45 land. The Authority, however, rejected the application in Sept 2023, citing non- compliance with its 2010 Building Regulations — which require a lease deed to be signed for such applications. A revision petition filed with the state govt was dismissed as well in April 2024. The petitioners argued that the deed of exchange qualified as a valid transfer document, granting them full rights over the land that was handed to them. They contended that the Authority's rejection violated their constitutional rights to property under Article 300A, which includes construction rights. They also maintained that the Authority's interpretation of the building regulations was "overly restrictive and contrary to legal principles protecting property rights". The Authority argued that its rejection was based on three arguments — the mandatory requirement of a lease deed under building regulations, the undeveloped status of the Sector 45 plot with no designated land use, and a potential impact on its lease-based revenue model. The court, however, found these arguments insufficient. On Nov 22, the court of Justice Alok Mathur deemed the Authority's rejection "illegal" and asked it to conduct a fresh hearing on the petitioners' application, emphasising their constitutional rights as property owners. The court ruled that the deed of exchange between the petitioners and the Authority constituted a valid transfer deed under the Transfer of Property Act and UP Industrial Area Development Act, 1976. "We find no reason for the Authority not to consider the petitioners' application for building plan sanction, and the reasons for rejection are clearly illegal and arbitrary," the court observed. The Authority was told to pass a fresh order within four weeks of receiving a certified copy of the judgment. This ruling sets a significant precedent for similar cases and emphasises the need for administrative bodies to consider property rights while interpreting regulations. Source : Times of India INDIA

Allahabad HC: Reliefs for Developers as Noida Authority’s Building Plan Rejection Overturned

12/2/2024 12:30:00 PM

Lieutenant governor VK Saxena on Sunday inspected a special camp organised by the Delhi Development Authority (DDA) to dispose of applications under the PM-UDAY (Unauthorised Colonies in Delhi Awas Yojana) scheme. LG Saxena was accompanied by West Delhi MP Kamaljeet Sehrawat and former Delhi minister Kailash Gahlot. “Visited and oversaw the functioning of special camp organised by DDA for on-spot disposal of applications under PM-UDAY Scheme, at Shyam Vihar in Najafgarh...Also distributed certificate of ownership/coveyance deed to 40 residents of various unauthorised colonies, whose applications were disposed of at the special camp. 10 such camps were organised in different unauthorised colonies across Delhi,” LG Saxena posted on X. The PM-UDAY scheme was devised by the central government in 2019 for residents of unauthorised colonies in Delhi to allow ownership rights in these areas for residents. DDA is the nodal agency wherein residents can submit documents and apply to get land ownership. The LG has also directed DDA to form 10 teams that will be deputed at several locations over the next four weeks. The camps will be organised in various unauthorised colonies in Sant Nagar, Burari, Mukundpur, Ganesh Nagar, Pandav Nagar, Nilothi, Sangam Vihar, Nangloi, Baprola, Budh Vihar, Khirki Extension and Najafgarh, among others The camps will be held every Saturday and Sunday from November 30 to December 29 in the 10 processing centres located inside these unauthorised colonies. “I have directed officials to dispose of the 62,000 pending as well as fresh applications, in a mission mode. The camps at people’s doorsteps have a ‘Single Window Clearance Mode’ with facilitation for documentation and their uploading on the portal, scrutiny, notarisation and other ancillary activities along with on the spot regularisation of their properties in a flexible and humane manner, as the PM-UDAY Scheme envisages,” the LG added. DDA in a statement said that the camp received good response. “On day one, as many as 414 new applications/registrations were done, whereas 411 pending applications were cleared from deficiencies. In all, 113 applications were approved and 83 conveyance deed and authorisation slip were executed in various unauthorised colonies. LG also directed DDA to clear all pending 62,000 applications expeditiously while also disposing of the fresh applications in a mission mode so as to benefit the maximum number of people,” DDA said in a statement. “I urge people to come in large numbers and get their pending issues resolved as government has come to their doorstep,” the LG said. The details of the camps are available on DDA’s website Source : Hindustan Times INDIA

Circle Rates in Gurugram are Set to Increase by 10-30% Starting December 2024

11/30/2024 12:18:00 PM

GURUGRAM: Circle rates for registering properties are set to increase in a range of 10- 30%, a development that could drive up housing prices in the city, which is already among India's costliest real estate markets. The new circle rates, district administration officials said on Friday, will come into effect from Dec 1 and will be applicable at least till Mar 31, 2025. The decision to hike circle rate was taken at a meeting of deputy commissioner Ajay Kumar with sub-divisional officers and revenue department officials on Friday. Officials said most areas of the city will see circle rates hiked by 10% to 20%. But the city's most sought-after areas near Golf Course Road, Southern Peripheral Expressway and Dwarka Expressway will see hikes up to 30%. DC Ajay Kumar said the range was decided based on market value of properties within specific areas. "There are some key areas in the district where the market value is significantly high. This is why an increase of up to 30% in collector rate was decided for those locations," he said. Kumar explained that changes in collector rates, or circle rates, are recommended by a district-level committee that carries out market research before giving its advice. New rates come into effect after the state govt gives its final approval. Officials said they have received approval from the govt, but a detailed order on the exact hike in circle rates is awaited. Realtors said property prices in Gurgaon are only expected to go up. "Despite very high property prices, Gurgaon's real estate sector leads not just in NCR, but it's also among the top performers in the country. Therefore, an increase in circle rate will bring it on par with market rate," said Mohit Kalia, vice-president (sales), Raheja Developers. Sanjeev Arora, director of 360 Realtors, said the impact of circle rate on property prices will be limited. "In most of the major micro- markets of Gurgaon, such as Golf Course Road, Golf Course Extension Road, SPR and MG Road, property prices are already much higher than the existing circle rates. In other emerging areas also, such as Sohna, New Gurgaon and Dwarka Expressway, property prices are higher. That's why we don't foresee any major jump," Arora said. He said prices will continue to increase in the city due to high demand and limited supplies. "People across age groups and profiles take homeownership seriously. The market will continue to gain steam," he added. Those looking to buy houses in the city said property rates were already over-the-top in Gurgaon, and a consistent increase would make it completely out of reach for the middle class. "Property prices are in several crores, and it keeps on increasing. An Increase in circle rate will further increase prices and the dream of owning a house in Gurgaon will become a distant dream for common people," said Kamlesh Bist, a resident of Sector 84, who is looking for a new house to purchase. Source : Economic Times INDIA

Gurugram: Chintels Paradiso's builder seeks approval for phase-wise redevelopment

11/30/2024 12:17:00 PM

Gurgaon: Chintels Paradiso's builder has submitted an application with the department of town and country planning to redevelop the society in phases. DTCP (headquarters) is expected to send a report to the enforcement wing of the department in Gurgaon soon. If accepted, the builder will be able to reconstruct the towers declared unsafe at the Sector 109 society in one phase and repair the ones considered habitable in another. Of the nine towers at Paradiso, six have been declared unsafe by the district administration. Two others were also declared unsafe by CBRI, the organisation that the builder independently brought in to carry out structural audits, but these were not officially declared unfit for habitation. According to the builder, this approach will expedite reconstruction of unsafe towers. Homebuyers are closely following the process as phase-wise development could affect reconstruction and repair timelines. For homebuyers of the towers considered unsafe who opted for reconstruction, it could mean that they get their flats sooner. Residents of habitable towers are eager to see if there are any major changes in layout, and if there are infrastructural upgrades, would they require homebuyers' consent. "We've been living in uncertainty for far too long. The phasing process might be a step forward, but our main concern is the timeline for redevelopment and whether it will truly address the safety issues," said a resident of one of the habitable towers at Chintels Paradiso. Source : Times of India INDIA

Haryana RERA: Builders to Submit Reports within 30 Days

11/29/2024 12:19:00 PM

Gurgaon: The Haryana Real Estate Regulatory Authority (HRera) has issued a strict directive to real estate promoters, mandating submission of annual reports for their under- construction projects within 30 days. The move comes after the regulator observed widespread non-compliance by promoters, raising concerns about transparency and accountability in the sector. During a recent review meeting, Rera noted that several promoters failed to file these mandatory reports, despite repeated reminders. As a result, it's now issuing show-cause notices to defaulters. These notices demand compliance within the stipulated timeframe, warning that failure to do so will lead to significant financial penalties. In its order, Rera emphasised that non-filing of annual reports is a serious violation of the Real Estate (Regulation and Development) Act, 2016 (Rera Act). Promoters, who fail to file the reports within 30 days of receiving the notice, will face an initial penalty of ₹5 lakh. Moreover, an additional penalty of ₹10,000 per day will be imposed for continued non- compliance beyond 60 days. The submission of annual reports is a critical requirement under Section 4(2)(l)(d) of the Rera Act. Promoters are obligated to get their project accounts audited by a certified chartered accountant within six months of the end of each financial year. The audit must verify that the funds collected for a project are utilised exclusively for its intended purpose and that withdrawals are made in proportion to the project's completion status. Rera highlighted that any promoter providing false information or contravening Section 4 provisions could face penalties extending up to 5% of the project's estimated cost under Section 60 of the Act. This provision underscores the importance of maintaining financial integrity in project execution. The regulator has also reiterated that these measures are aimed at ensuring greater transparency and accountability in the real estate sector. Promoters are urged to comply with these regulations promptly to avoid severe financial and legal repercussions. Rera's warning reflects its commitment to safeguarding the interests of homebuyers and ensuring that project funds are utilised responsibly. Source : Times of India INDIA

Delhi Slum Redevelopment Approved: New Homes Under ‘Jahaan Jhuggi Wahin Makaan’

11/29/2024 12:18:00 PM

NEW DELHI: Lieutenant Governor VK Saxena on Thursday approved the redevelopment of slum areas under the "Jahan Jhuggi Wahin Makaan" Scheme, an official statement said. The modification in policy will allow projects to be more viable and more players could come forward for in-situ slum projects and thereby more houses could be built, officials said. The move comes ahead of the Assembly elections due in Delhi early next year. The Delhi Development Authority (DDA) in its meeting chaired by Saxena, who is also the chairman of the department, approved major changes in slum and JJ policy to make in-situ rehabilitation, as envisioned by the prime minister under Jahan Jhuggi Wahin Makaan Scheme, more viable and implementable, an official statement said. The modifications in terms of density relaxation, revised apportionment of land area for remunerative and non-remunerative components, floor area ratio (FAR), clubbing of clusters for redevelopment spread across a radius of five kilometres etc. were approved in the authority meeting, the statement said. This, apart from providing the right to dignified housing to the slum dwellers of the city, will also create affordable housing stock as well as commercial space for Delhi residents, it read. As per the modifications, an increased FAR of 500 has been allowed for the residential and remunerative components in the in-situ rehabilitation projects on plots measuring 2,000 square metres and above. This is a significant increase from 300 FAR to 500 FAR for the commercial component. For the rehab component, FAR has been increased from 400 to 500, it said. Under the new modifications, at least 40 per cent of the total plot area will be utilised for residential purposes while the remaining area could be utilised for remunerative or commercial purposes. Further, any unutilised FAR in the rehabilitation component will also be allowed to be availed by the developers in the remunerative or commercial plot area, the statement said. This decision will ensure more number of dwelling units for the slum dwellers as well as more commercial space to make the project financially viable for the developers. This will also ensure that 100 per cent of the beneficiaries (slum dwellers) will be accommodated in-situ, it said. In terms of allowing clubbing of plots over an area spread over five kilometres, the developer will be able to redevelop a particular site only for the rehabilitation of slum dwellers in modern multi-storey complexes. The other site could be utilised exclusively for the development of residential or commercial complexes for remunerative use by the developer, it said. This initiative will provide eligible residents of informal JJ clusters with modern housing, along with essential public amenities. This comes as a major step towards social empowerment, as the programme offers ownership titles to residents, giving them a sense of security and stability, it started. By upgrading housing and infrastructure, the In-Situ Slum Rehabilitation (ISR) programme supports the integration of slum dwellers into the formal urban fabric, contributing to social mobility and improving the overall quality of life for the urban poor. The approved proposal will now be sent to the Ministry of Housing and Urban Affairs, Government of India for issuance of final notification, it added. Source : Economic Time INDIA

Noida Authority to Develop Industrial Zone on 25 Hectares in Sector 165

11/28/2024 11:10:00 AM

Noida: The Noida Authority will soon acquire land off the Noida Expressway to develop an industrial zone in Sector 165. The acquisition will cover approximately 25 hectares of land spread across four villages – Mohiyapur, Gulawali, Dostpur Mangrauli, and Nalgarha. Land for the same will be bought from farmers through mutual consent, which officials noted is a collaborative approach to ensure smooth proceedings. Officials revealed that while the Authority already has a similar area under its possession for Sector 165, about 90% of the required land is located in Gulawali village. The remaining land is either encroached upon or inhabited. Some portions of land are already under the Authority's possession in Mohiyapur and Dostpur Mangrauli, while no land has yet been acquired in Nalgarha. The Authority had originally decided to expand its urban area by developing six new sectors – sectors 161 to 166 – along the Noida Expressway over four years ago. This expansion required the acquisition of about 540 acres of land. To date, around 40% of the land was acquired. DGM (Civil) Vijay Rawal said that land acquisition in sectors 163 and 166 was partially completed, while no progress has been made in Sector 161. Sector 164 remains inhabited, and plans are underway to allot land parcels in the acquired portions of sectors 162 and 164. According to officials, sectors 162, 164, and 165 will be dedicated to industrial units, while Sector 161 was designated for institutional purposes. Mixed-use development, comprising commercial and residential buildings, is planned for sectors 163 and 166. The institutional sector is expected to include IT/ITeS facilities, govt agencies, hospitals, gas stations, private institutes, and religious or spiritual centres. The Authority chose to acquire the land through mutual consent in order to address concerns and resistance from farmers over compensation and benefits. This staggered acquisition process aims to foster trust and minimise disputes, officials said. The Authority's focus for these new sectors is to attract industries with various incentives, thereby bolstering economic growth and infrastructure development in the region. Source : Times of India INDIA

Noida Authority Seeks Resolution for Issues with Logix Developers

11/28/2024 11:06:00 AM

The Noida authority on Tuesday said that it has decided to write to the economic offence wing in Delhi to launch an investigation against Logix Blossom Zest realty project that allegedly failed to clear its financial dues and also didn’t deliver apartments to homebuyers. The reality firm, however, has rejected the allegations. The move comes after the authority realised that the realtor Logix Group has allegedly misused funds collected from the homebuyers. The partially completed project -- Logix Blossom Zest – is located in Sector 143. On April 8, 2024, the Noida authority allotted 100,080.98 square metre land to develop the housing project along the Noida-Greater Noida Expressway. On June 14, 2011, the authority executed the lease deed of the land. “The realty firm Logix Group has not paid the land cost dues despite repeated notices served in the past. The realty firm neither paid the land cost dues nor delivered the project to the homebuyers within the fixed deadline,” said Lokesh M, chief executive officer, Noida authority. “Apart from this, promoters of the Logix Group that include Devendra Mohan Saxena, Shakti Nath, Vikram Nath, and Meena Nath sold the apartments to homebuyers thereby creating the third party interests on this land, without bothering to clear the financial dues of the Noida authority,” the CEO added. The promoters have used the funds collected from the homebuyers for different purpose than completing the project, said the authority officials. As a result, the homebuyers are made to suffer and financial interests of the authority have been affected. “In view of these anomalies including misuse of the funds, the authority has written to the economic offence wing of Delhi to probe into accounts of the realty firm to determine where the funds have gone,” the CEO said. Refuting the allegations made by the Noida authority, Shakti Nath, promoter, Logix Group, said, “The Delhi economic offence wing has already completed its probe and there were no irregularities of any kind established.” The Noida authority, meanwhile, has also decided to take action against two other housing projects -- Lotus Zing located in Sector 168 and GSS Procon in Sector 143B. “Promoters of these two housing projects have committed irregularities in valuation of their assets in these two projects to cause financial loss to the Noida authority and also the homebuyers. Therefore, the authority has decided to file a complaint before the insolvency and bankruptcy board of India (IBBI) for suitable action as the matters are pending before the national company law tribunal,” Lokesh M added. The developers of these two projects -- Lotus Zing and GSS Procon were unavailable for a reaction on the matter despite repeated attempts. Source : Hindustan Times INDIA

Punjab Government Eases Registration of Small Plots in Illegal Colonies Without NOC for 90 Days

11/27/2024 10:35:00 AM

In a significant move aimed at benefiting property owners in Punjab, the state government has temporarily removed the requirement for a No Objection Certificate (NOC) for registering small plots (up to 500 square yards) in illegal colonies. This decision, which is valid for a 90-day period, comes as part of an effort to streamline property transactions and provide relief to residents who have already made payments or acquired plots in unauthorized areas. This move is expected to impact thousands of property owners across the state, particularly in the 14,000+ illegal colonies in Punjab, though it does not imply regularization of these colonies. To deter the development of unauthorized colonies in the future, the government has also implemented stringent penalties for those involved in the illegal development of land. With this change, the government aims to simplify the property registration process while maintaining strict checks on future land development activities​ India

Odisha Government to Amend Real Estate Laws for Easier Sale Deed Registration

11/27/2024 10:30:00 AM

The Odisha government is set to revise its real estate laws to streamline the sale deed registration process, making it more transparent and buyer-friendly. This amendment aims to separate the registration charges for apartments and common areas, preventing homebuyers from incurring unnecessary costs. Additionally, a nominal fee model inspired by other states is being considered to ease financial burdens, especially for pre-RERA projects. In another major step, the Odisha Apartment Ownership Act will enforce certification for apartment associations, empowering them to manage shared amenities more effectively. By addressing compliance issues and ensuring a clear breakdown of costs, the government is working toward a more structured and fair real estate sector in Odisha, safeguarding homebuyers’ interests and boosting confidence in property transactions​ India

Noida Authority Takes Action Against Logix Developers for Financial Irregularities

11/27/2024 10:21:00 AM

The Noida Authority has lodged a complaint with the Economic Offences Wing (EOW) of the Delhi Police against Logix Developers, accusing them of financial irregularities and fund misappropriation in several real estate projects. According to the complaint, Logix Developers allegedly diverted funds meant for ongoing projects and formed unauthorized third-party agreements without proper approvals, violating established regulations. This misconduct has left numerous homebuyers stranded, with projects either delayed or incomplete, causing financial and emotional distress. Noida Authority CEO Lokesh M. emphasized that such actions undermine the trust of homebuyers and tarnish the image of the region’s real estate market. The Authority’s move to involve the EOW signals its intent to hold developers accountable and protect the interests of investors. This action reflects the Authority’s commitment to enforcing transparency and ensuring that developers adhere to legal and financial compliance standards. The case is expected to set a significant precedent for financial discipline and accountability within Noida’s booming real estate sector, reinforcing buyer confidence and market integrity. India

Union Minister Piyush Goyal Urges CREDAI to Tackle Pollution, Build Affordable Housing, and Formalise Real Estate Sector

11/26/2024 9:31:00 AM

Union Minister Piyush Goyal, at CREDAI's 25th foundation day, urged real estate developers to adopt sustainable practices to reduce air pollution, particularly in metropolitan cities. He recommended CREDAI establish a team to study the adverse effects of construction on air quality and encouraged the use of steel and precast fabrication for faster, cleaner construction. Highlighting the need for affordable rental housing to prevent slum proliferation, Goyal assured government support in creating such projects to rehabilitate slum dwellers with dignity. The minister emphasized greater formalization in the sector, such as digital payments, EPFO enrollment, and worker benefits like ESIC, to enhance real estate's contribution to India’s GDP. He lauded RERA's role in eliminating malpractice and strengthening buyer confidence. Additionally, Goyal encouraged developers to venture into international markets and contribute to service exports. The speech reflects a holistic approach to making real estate environmentally sustainable, socially responsible, and globally competitive. India

Yeida Finalises Blueprint for New Agra Urban Centre: A Modern Hub of Tourism, Heritage, and Industry

11/26/2024 9:27:00 AM

The Yamuna Expressway Industrial Development Authority (Yeida) has unveiled the blueprint for the New Agra Urban Centre, a transformative project along the Yamuna Expressway. Spanning 105,000 hectares across 60 villages, this ambitious initiative aims to urbanise agricultural land into a thriving hub of tourism, heritage, industry, and environment. The plan includes eco-friendly industrial units, theme parks inspired by international attractions, green belts, and modern transport systems, all designed to promote environmental sustainability and enhance connectivity. With a focus on preserving Agra’s rich historical legacy, including the Taj Mahal and Fatehpur Sikri, New Agra is set to become a vibrant, modern city that balances development with heritage conservation. India

Chandigarh Administration Forms Special Panel to Explore Metro Feasibility

11/25/2024 11:52:00 AM

In an effort to enhance public transport and address growing commuting challenges, the Chandigarh administration has formed a special panel to assess the feasibility of a metro project in the city. The panel will thoroughly evaluate critical factors such as potential metro routes, project costs, and the required infrastructure. This initiative aims to explore the viability of implementing a metro system to provide residents with a more efficient, sustainable, and modern mode of transportation. With an increasing population and traffic congestion, the metro could play a pivotal role in easing travel across Chandigarh, making it a more connected and accessible city. The findings of this feasibility study are expected to shape the future of Chandigarh’s public transport system, offering a long-term solution to the city's transportation needs. India