- Thursday, August 17, 2017

Bengal adopts RERA, to set up regulatory authority in 60 days

The West Bengal Housing Industry Regulation Bill 2017 was passed by the state assembly, on August 16, 2017, although it missed the July 31 deadline by the centre, for adoption of the Real Estate … READ FULL STORY The post Bengal adopts RERA, to set up regulatory authority in 60 days appeared first on Housing News.

- Thursday, August 17, 2017

Government approves new metro policy with focus on private investment

The union cabinet, at a meeting chaired by prime minister Narendra Modi, on August 16, 2017, approved a new metro policy that makes the public-private partnership (PPP) component mandatory, for availing central assistance. The … READ FULL STORY The post Government approves new metro policy with focus on private investment appeared first on Housing News.

- Thursday, August 17, 2017

Maharashtra land title digitisation delayed by errors

The ambitious plan of the Maharashtra government, to complete digitisation of land title documents by August 15, 2017, has slowed down due to a high percentage of errors in data filing, a senior official … READ FULL STORY The post Maharashtra land title digitisation delayed by errors appeared first on Housing News.

- Thursday, August 17, 2017

An area not a silence zone unless declared so: Maharashtra government to HC

The Maharashtra government, on August 16, 2017, informed the Bombay High Court that an area cannot be considered as a ‘silence zone’, where anti-noise pollution rules are applicable, unless it is declared or notified … READ FULL STORY The post An area not a silence zone unless declared so: Maharashtra government to HC appeared first on Housing News.

- Thursday, August 17, 2017

NGT extends status quo order on Basai wetland in Gurugram

A National Green Tribunal (NGT) bench, headed by justice Jawad Rahim, has extended its stay on the work on a waste treatment plant being built in the Basai wetland in Gurugram, after the counsel … READ FULL STORY The post NGT extends status quo order on Basai wetland in Gurugram appeared first on Housing News.

- Wednesday, August 16, 2017

Jaypee Infratech bankruptcy: What options do aggrieved home buyers have?

Abhinav Kanchan works with a reputed developer from Bangalore. Consequently, he understands the importance of buying a home from a credible developer. Therefore, seven years ago, he booked a flat in Noida in Jaypee … READ FULL STORY The post Jaypee Infratech bankruptcy: What options do aggrieved home buyers have? appeared first on Housing News.

- Wednesday, August 16, 2017

Government considers Jaypee assets sale, to complete stuck housing projects

With hundreds of home buyers left stranded, after the National Company Law Tribunal (NCLT) admitted bankers’ plea for initiating insolvency proceedings against Jaypee Infratech, for defaulting on a Rs 526-crore loan, the government has … READ FULL STORY The post Government considers Jaypee assets sale, to complete stuck housing projects appeared first on Housing News.

- Wednesday, August 16, 2017

Deposit Rs 10 crores, to refund the investors: SC to Supertech

A Supreme Court bench, comprising justices Dipak Misra and AM Khanwilkar, on August 14, 2017, asked Supertech to deposit Rs 10 cores by September 22, 2017, in the apex court registry, while rejecting the … READ FULL STORY The post Deposit Rs 10 crores, to refund the investors: SC to Supertech appeared first on Housing News.

- Friday, August 11, 2017

Bombay HC asks Metro Corporation not to carry out construction at night

The Bombay High Court, on August 11, 2017, directed the Mumbai Metro Rail Corporation Limited (MMRCL) not to carry out any construction or ancillary activity on the Metro-3 project at night, for a period … READ FULL STORY The post Bombay HC asks Metro Corporation not to carry out construction at night appeared first on Housing News.

- Friday, August 11, 2017

Telangana Builders Federation wants buildings under RERA to be exempted from mortgage

The Telangana Builders Federation (TBF), on August 11, 2017, requested the state government to cut stamp duty and sought exemption from the mortgage clause, to boost the construction industry in the state. “Our state … READ FULL STORY The post Telangana Builders Federation wants buildings under RERA to be exempted from mortgage appeared first on Housing News.

- Friday, August 11, 2017

Maharashtra government to conduct inquiry against L&T for alleged land misuse

Maharashtra’s Minister of State for Home Ranjit Patil, on August 11, 2017, said that an inquiry would be conducted into alleged irregularity in the construction of residential buildings by Larsen & Toubro in suburban … READ FULL STORY The post Maharashtra government to conduct inquiry against L&T for alleged land misuse appeared first on Housing News.

- Friday, August 11, 2017

Ensure states notify RERA in letter and spirit: Parliamentary panel to government

The Committee on Subordinate Legislation, headed by BJP MP Dilipkumar Mansukhlal Gandhi, has expressed its displeasure over the fact that the rules notified by some states under the Real Estate (Regulation and Development) Act … READ FULL STORY The post Ensure states notify RERA in letter and spirit: Parliamentary panel to government appeared first on Housing News.

- Friday, August 11, 2017

WB to construct bridges, for better connectivity in the Sundarbans

Replying to a question in the West Bengal assembly, the state’s Sundarbans Affairs Minister, Manturam Pakhira, said that the government had undertaken a programme to construct bridges to the major islands in the Sundarbans, … READ FULL STORY The post WB to construct bridges, for better connectivity in the Sundarbans appeared first on Housing News.

- Thursday, August 10, 2017

SC rejects Sahara’s plea to put on hold Aamby Valley auction

A Supreme Court bench of justices Dipak Misra, Ranjan Gogoi and AK Sikri, on August 10, 2017, dismissed Sahara chief Subrata Roy’s plea, to put on hold the auction process of the group’s Aamby … READ FULL STORY The post SC rejects Sahara’s plea to put on hold Aamby Valley auction appeared first on Housing News.

- Thursday, August 10, 2017

Unauthorised colonies: Delhi to rope in flood control department to expedite civic works

The AAP government plans to carry out development works in around 1,700 unauthorised colonies, through the irrigation and flood control department, Delhi’s urban development minister Satyendar Jain said, on August 9, 2017. Replying to … READ FULL STORY The post Unauthorised colonies: Delhi to rope in flood control department to expedite civic works appeared first on Housing News.

- Thursday, August 10, 2017

HC pulls up DDA for trying to convert park into community hall

A Delhi High Court bench of acting chief justice Gita Mittal and justice C Hari Shankar, on August 9, 2017, stayed the construction of a community centre on a park and issued notices to … READ FULL STORY The post HC pulls up DDA for trying to convert park into community hall appeared first on Housing News.

- Thursday, August 10, 2017

Sahara files interim plea to stop Aamby Valley auction

Sahara chief Subrata Roy, on August 9, 2017, moved the Supreme Court, seeking to put a hold on the auction process to sell the group’s Rs 34,000-crore Aamby Valley property by the official liquidator … READ FULL STORY The post Sahara files interim plea to stop Aamby Valley auction appeared first on Housing News.

- Wednesday, August 09, 2017

After housing minister, now Maharashtra industries minister accused of land scam

The opposition Congress and NCP, on August 8, 2017, alleged in the legislative council that Shiv Sena leader and Maharashtra industries minister, Subhash Desai, favoured builders by de-notifying 12,000 hectares of land in the … READ FULL STORY The post After housing minister, now Maharashtra industries minister accused of land scam appeared first on Housing News.

- Wednesday, August 09, 2017

Calcutta HC allows construction of metro, over disputed land

The Calcutta High Court, on August 8, 2017, allowed the construction of the Joka-BBD Bag metro railway over a piece of disputed land, subject to the outcome of a petition challenging the railway’s right … READ FULL STORY The post Calcutta HC allows construction of metro, over disputed land appeared first on Housing News.

- Tuesday, August 08, 2017

Congress demands removal of Maharashtra housing minister over land scam

Congress leader Prithviraj Chavan, on August 7, 2017, accused Maharashtra housing minister Prakash Mehta, of giving almost one lakh sq ft of land in the MP Mills compound in Tardeo in Mumbai, in violation … READ FULL STORY The post Congress demands removal of Maharashtra housing minister over land scam appeared first on Housing News.

- Tuesday, August 08, 2017

Pallikaranai marshland: Madras HC pulls up official over registrations

The Madras High Court has suo motu initiated contempt proceedings against a senior official of the registration department, in connection with the issue of registration of documents involving the Pallikaranai marshland. When the matter … READ FULL STORY The post Pallikaranai marshland: Madras HC pulls up official over registrations appeared first on Housing News.

- Monday, August 07, 2017

No environmental damage in Lavasa construction: Minister

There was no environmental damage during the construction of Lavasa lake city, environment minister Ramdas Kadam said, in a written reply in the lower house of the assembly, on August 4, 2017. The picturesque … READ FULL STORY The post No environmental damage in Lavasa construction: Minister appeared first on Housing News.

- Monday, August 07, 2017

Unauthorised constructions have made Delhi dangerous: HC

Pulling up the three municipal corporations of Delhi, a Delhi High Court bench of acting chief justice Gita Mittal and justice C Hari Shankar, on August 4, 2017, said that the court was flooded … READ FULL STORY The post Unauthorised constructions have made Delhi dangerous: HC appeared first on Housing News.

- Monday, August 07, 2017

Non-operational SEZs: SC to hear plea on return of land

A Supreme Court bench of chief justice JS Khehar and justice DY Chandrachud, on August 4, 2017, warned states to file their responses, on a plea seeking the return of unused land acquired for … READ FULL STORY The post Non-operational SEZs: SC to hear plea on return of land appeared first on Housing News.

- Friday, August 04, 2017

Telangana notifies RERA rules

The Telangana government has notified its rules to the Real Estate (Regulation and Development) Act, 2016. According to a notification issued on July 31, 2017, the state government said these rules may be called … READ FULL STORY The post Telangana notifies RERA rules appeared first on Housing News.

- Thursday, August 03, 2017

RBI exhorts states for single-window nod to affordable housing

The Reserve Bank of India’s (RBI’s) governor, Urjit Patel, on August 2, 2017, pointed out that slow clearances are affecting affordable housing projects at the state level. “I think we need a time-bound single-window … READ FULL STORY The post RBI exhorts states for single-window nod to affordable housing appeared first on Housing News.

- Thursday, August 03, 2017

RBI’s focus on affordable housing to boost sentiment: Industry

The Reserve Bank of India (RBI), in its third bi-monthly monetary policy review for 2017-18 on August 2, 2017, slashed its benchmark lending rate by 0.25 per cent to six per cent. This rate … READ FULL STORY The post RBI’s focus on affordable housing to boost sentiment: Industry appeared first on Housing News.

- Thursday, August 03, 2017

BMC finally clears Mumbai Development Plan-2014-34, after a 3-year delay

The long-pending draft Development Plan (DP) for 2014-34, which will be the blueprint for land use in the metropolis over the next 17 years, has been finally passed by the local civic body. The … READ FULL STORY The post BMC finally clears Mumbai Development Plan-2014-34, after a 3-year delay appeared first on Housing News.

- Thursday, August 03, 2017

Nearly 2,300 CPWD buildings in Delhi ‘unsafe’

As many as 2,297 residential buildings under the CPWD in Delhi, have been identified as ‘unsafe’, the Lok Sabha was informed on August 2, 2017. The number of unsafe or dangerous buildings under the … READ FULL STORY The post Nearly 2,300 CPWD buildings in Delhi ‘unsafe’ appeared first on Housing News.

- Wednesday, August 02, 2017

Maharashtra to amend laws, to expedite sale of property in fraud cases

The Maharashtra government is planning to amend some laws, for the speedy sale of properties attached in the cases of investment frauds, so that the duped depositors/ investors can be given their money back … READ FULL STORY The post Maharashtra to amend laws, to expedite sale of property in fraud cases appeared first on Housing News.

- Wednesday, August 02, 2017

Delhi L-G forms panel for disposal of land acquisition disputes

In a move aimed at paving the way for timely execution of the government’s projects in the national capital and also to ensure compensation, rehabilitation and resettlement of people affected due to land acquisition, … READ FULL STORY The post Delhi L-G forms panel for disposal of land acquisition disputes appeared first on Housing News.

- Wednesday, August 02, 2017

Bombay HC raps MHADA for inaction against builder, over lacunae in redevelopment

A division bench of the Bombay High Court, of justices RM Savant and Sadhana Jadhav, on August 1, 2017, pulled up the Maharashtra Housing and Area Development Authority (MHADA), for its failure to comply … READ FULL STORY The post Bombay HC raps MHADA for inaction against builder, over lacunae in redevelopment appeared first on Housing News.

- Tuesday, August 01, 2017

RERA deadline ends: 23 states, UTs set up real estate regulatory body

With the deadline of July 31, 2017, for mandatory registration of ongoing projects under the real estate rules, ending, 23 states and union territories (UTs) have either established their permanent or interim regulatory authorities … READ FULL STORY The post RERA deadline ends: 23 states, UTs set up real estate regulatory body appeared first on Housing News.

- Tuesday, August 01, 2017

Maharashtra introduces changes to SRA to control corruption, delays

The Maharashtra government has introduced a slew of changes in the Slum Rehabilitation Authority (SRA), in an effort to control corruption and delays in project completion, which have plagued the authority since its inception. … READ FULL STORY The post Maharashtra introduces changes to SRA to control corruption, delays appeared first on Housing News.

- Tuesday, August 01, 2017

Haryana to grant permission for land use change, in 45 days

The Haryana government has decided to grant permission for the change of land use (CLU) within 45 days, if the application is complete in all aspects. Presently, CLU permission is granted within 60 days … READ FULL STORY The post Haryana to grant permission for land use change, in 45 days appeared first on Housing News.

- Monday, July 31, 2017

DDA housing scheme receives 5,000 applications for 12,000 flats

The Delhi Development Authority’s (DDA’s) Principal Commissioner (Housing), JP Agarwal, said that the authority had, so far, received about 5,000 applications for its housing scheme. The 2017 Housing Scheme, which offers 12,000 flats for … READ FULL STORY The post DDA housing scheme receives 5,000 applications for 12,000 flats appeared first on Housing News.

- Monday, July 31, 2017

Maharashtra to implement cycle track policy in 10 districts

The Maharashtra government is set to implement a ‘Streets With Cycle Track’ policy in 10 districts of the state, on a pilot basis, to provide an alternate mode of transport to locals. The project … READ FULL STORY The post Maharashtra to implement cycle track policy in 10 districts appeared first on Housing News.

- Thursday, July 27, 2017

Congress accuses Haryana government of diluting RERA

The Congress, on July 26, 2017, accused the Manohar Lal Khattar-led BJP government in Haryana of betraying small and medium home buyers and playing into the hands of builders, by diluting the Real Estate … READ FULL STORY The post Congress accuses Haryana government of diluting RERA appeared first on Housing News.

- Thursday, July 27, 2017

UP CM launches RERA website

Uttar Pradesh chief minister Yogi Adityanath, on July 26, 2017, said that his government was fully committed to safeguarding the interests of home buyers and redressing their problems. Adityanath launched the website of the … READ FULL STORY The post UP CM launches RERA website appeared first on Housing News.

- Wednesday, July 26, 2017

BKC convention centre delay: RIL owes government Rs 1,369 crores

The Maharashtra government, on July 25, 2017, informed that Reliance Industries Ltd (RIL) has defaulted on the payment of fine and additional surcharge of Rs 1,369.90 crores, over the delay in construction of a … READ FULL STORY The post BKC convention centre delay: RIL owes government Rs 1,369 crores appeared first on Housing News.

- Tuesday, July 25, 2017

Government approves 30,000 houses on private land under PMAY

An inter-ministerial Central Sanctioning and Monitoring Committee (CSMC), chaired by Housing and Urban Affairs (HUA) secretary Durga Shanker Mishra, on July 24, 2017, approved a first-of-its-kind affordable housing project on private land, after detailed … READ FULL STORY The post Government approves 30,000 houses on private land under PMAY appeared first on Housing News.

- Tuesday, July 25, 2017

Eight-lane flyover at Hero Honda Chowk in Gurugram inaugurated

Haryana chief minister Manohar Lal Khattar, on July 24, 2017, inaugurated the 1.4-km-long, eight-lane flyover at Hero Honda Chowk in Gurugram. Speaking on the occasion, Khattar said the flyover would ease traffic congestion at … READ FULL STORY The post Eight-lane flyover at Hero Honda Chowk in Gurugram inaugurated appeared first on Housing News.

- Tuesday, July 25, 2017

Tender process for foot-over bridge, skywalk at Delhi’s ITO begins

Delhi’s Public Works Department (PWD) minister Satyendar Jain, in a tweet, said that the “Tender process has started for the construction of a skywalk and foot-over bridge at Mathura Road, Tilak Bridge, ITO.” According … READ FULL STORY The post Tender process for foot-over bridge, skywalk at Delhi’s ITO begins appeared first on Housing News.

- Monday, July 24, 2017

India’s Smart Cities plan may adversely impact environment

Researchers from the University of Lincoln in the United Kingdom, have conducted a detailed analysis of the environmental implications of planned developments, which would see medium-rise housing (between three and five storeys) being replaced … READ FULL STORY The post India’s Smart Cities plan may adversely impact environment appeared first on Housing News.

- Monday, July 24, 2017

DDA to invite bids for integrated cities at Dwarka, Narela and Rohini

The Delhi Development Authority (DDA) has proposed to develop integrated cities with smart features, on vacant lands at Dwarka (200 hectares), Narela (218 hectares) and Rohini (259 hectares). Bids for the projects will be … READ FULL STORY The post DDA to invite bids for integrated cities at Dwarka, Narela and Rohini appeared first on Housing News.

- Monday, July 24, 2017

Tata Housing to invest up to Rs 800 crores for expansion in FY18

The implementation of the Real Estate (Regulation and Development) Act (RERA) and GST, are likely to spur consolidation in the sector, which presents an opportunity for Tata Housing to expand its portfolio, the company’s … READ FULL STORY The post Tata Housing to invest up to Rs 800 crores for expansion in FY18 appeared first on Housing News.

- Monday, July 24, 2017

NGT allows redevelopment work around Qutab Golf Course

The National Green Tribunal (NGT) has given its go-ahead to the Delhi Development Authority (DDA), to carry out redevelopment work at Qutab Golf Course, while imposing a condition that the work around the lakes … READ FULL STORY The post NGT allows redevelopment work around Qutab Golf Course appeared first on Housing News.

- Friday, July 21, 2017

DDA inks MoU with NIUA for preparing Delhi Master Plan 2041

The Delhi development Authority (DDA), in a statement, said that it has signed an MoU with the National Institute of Urban Affairs (NIUA), for preparation of the Master Plan for Delhi (MPD) 2041, as … READ FULL STORY The post DDA inks MoU with NIUA for preparing Delhi Master Plan 2041 appeared first on Housing News.

- Friday, July 21, 2017

Installing lifts without minimum power backup negligence: NCDRC

The National Consumer Disputes Redressal Commission (NCDRC), while awarding a compensation of Rs 50 lakhs to the kin of a man who died after falling into a lift pit, has said that it was … READ FULL STORY The post Installing lifts without minimum power backup negligence: NCDRC appeared first on Housing News.

- Thursday, July 20, 2017

RERA likely to impact performance of developers in FY18: ICRA

The transition to the new realty regulatory framework under the Real Estate (Regulation and Development) Act (RERA), is expected to slow down new project launches and increase the working capital requirements of developers, thus, … READ FULL STORY The post RERA likely to impact performance of developers in FY18: ICRA appeared first on Housing News.

- Thursday, July 20, 2017

NHAI agrees to construct Rs 53,500-crore Delhi rapid transit projects

The National Highways Authority of India (NHAI) has agreed to the construction of a 111-km Delhi-Sonipat-Panipat regional rapid transit system (RRTS) project worth Rs 16,500 crores and a 180-km Delhi-Rewari-Alwar RRTS of Rs 37,000 … READ FULL STORY The post NHAI agrees to construct Rs 53,500-crore Delhi rapid transit projects appeared first on Housing News.

- Thursday, July 20, 2017

Bombay HC fines MHADA for usurping land in Juhu

A Bombay High Court bench of justices BR Gavai and Riyaz Chagla, on July 19, 2017, imposed a fine and quashed a March 2017 order of the Maharashtra Housing and Area Development Authority (MHADA), … READ FULL STORY The post Bombay HC fines MHADA for usurping land in Juhu appeared first on Housing News.

- Thursday, July 20, 2017

Nagpur-Hyderabad-Bengaluru Expressway: Contract for project report awarded

Infrastructure services provider Feedback Infra, on July 19, 2017, said that it had bagged a contract from the National Highways Authority of India (NHAI), to prepare a detailed project report (DPR) for the proposed … READ FULL STORY The post Nagpur-Hyderabad-Bengaluru Expressway: Contract for project report awarded appeared first on Housing News.

- Wednesday, July 19, 2017

Bill in LS to allow construction near protected monuments

A bill, to allow the government to take up infrastructure projects within the prohibited areas around protected monuments, was introduced in the Lok Sabha on July 18, 2017, with the centre saying that development … READ FULL STORY The post Bill in LS to allow construction near protected monuments appeared first on Housing News.

- Wednesday, July 19, 2017

IFC to invest USD 1 billion in India for green buildings

The International Finance Corporation (IFC), a member of the World Bank, has planned an investment of around USD 5-6 billion, over the next five years in India, for participating in the country’s climate change … READ FULL STORY The post IFC to invest USD 1 billion in India for green buildings appeared first on Housing News.

- Tuesday, July 18, 2017

Delhi’s Signature Bridge project receives additional funds for completion

The Delhi government has released Rs 100 crores for the Signature Bridge project, which was hit by a ‘fund crunch’, slowing down its last phase of construction, tourism minister Rajendra Pal Gautam said, on … READ FULL STORY The post Delhi’s Signature Bridge project receives additional funds for completion appeared first on Housing News.

- Tuesday, July 18, 2017

Malaysia shows interest in developing Mumbai-Nagpur Expressway

The Malaysian government has evinced interest in developing the Mumbai-Nagpur Expressway, Maharashtra Public Works Department minister, Eknath Shinde said on July 17, 2017. A delegation from Malaysia called on Shinde and discussed the intricacies … READ FULL STORY The post Malaysia shows interest in developing Mumbai-Nagpur Expressway appeared first on Housing News.

- Monday, July 17, 2017

DDA staff to help prospective buyers in visiting housing sites

In a move that is aimed at making people comfortable about the features of the flats and the facilities being offered in its new housing scheme, the Delhi Development Authority (DDA) has deputed representatives … READ FULL STORY The post DDA staff to help prospective buyers in visiting housing sites appeared first on Housing News.

- Monday, July 17, 2017

NDMC’s smart city projects to be completed by 2020

According to an official release from the New Delhi Municipal Council (NDMC), most of the smart city projects will be in an implementation mode, by October 2017 and the remaining by March 2018. Accordingly, … READ FULL STORY The post NDMC’s smart city projects to be completed by 2020 appeared first on Housing News.

- Thursday, July 13, 2017

NGT stays construction of artificial lakes in south Delhi

A National Green tribunal (NGT) bench, headed by justice Jawad Rahim, on July 12, 2017, restrained the Delhi Development Authority (DDA) from carrying out any construction activity on five artificial lakes in Qutab Golf … READ FULL STORY The post NGT stays construction of artificial lakes in south Delhi appeared first on Housing News.

- Thursday, July 13, 2017

NGT notice to MoEF, Delhi on traffic congestion in east Delhi

A National Green Tribunal (NGT) bench, headed by chairperson justice Swatanter Kumar, on July 12, 2017, issued notices to the Ministry of Environment and Forests (MoEF), Delhi government, East Delhi Municipal Corporation, Delhi Pollution … READ FULL STORY The post NGT notice to MoEF, Delhi on traffic congestion in east Delhi appeared first on Housing News.

- Wednesday, July 12, 2017

Abu Dhabi tops list of cities to live in for Indians: Survey

According to a study conducted by Ipsos, given an opportunity, Indians would love to live in Abu Dhabi, followed by Mumbai, Singapore, Delhi, London, Paris, Sydney, New York, Zurich and Los Angeles. People in … READ FULL STORY The post Abu Dhabi tops list of cities to live in for Indians: Survey appeared first on Housing News.

- Wednesday, July 12, 2017

Navi Mumbai SEZs to be de-notified, if issues not resolved: Commerce ministry

The commerce ministry has urged the Maharashtra government to resolve all issues concerning the Navi Mumbai special economic zone (SEZ) by the end of August 2017. The Board of Approval (BoA), chaired by commerce … READ FULL STORY The post Navi Mumbai SEZs to be de-notified, if issues not resolved: Commerce ministry appeared first on Housing News.

- Tuesday, July 11, 2017

Rental income beyond Rs 20 lakhs to attract GST

Revenue Secretary Hasmukh Adhia, on July 10, 2017, clarified that if a house property is rent out for shop or office purposes, no Goods and Services Tax (GST) will be levied up to Rs … READ FULL STORY The post Rental income beyond Rs 20 lakhs to attract GST appeared first on Housing News.

- Tuesday, July 11, 2017

10 million sq ft office space absorbed in April-June quarter: CBRE

According to a study conducted by CBRE south Asia, on leasing activity for prime office space across eight cities, 10 million sq ft was occupied in Q2 2017, registering a 28 per cent growth … READ FULL STORY The post 10 million sq ft office space absorbed in April-June quarter: CBRE appeared first on Housing News.

- Tuesday, July 11, 2017

Maharashtra to hand over forest land for Navi Mumbai Airport

The Maharashtra government has decided to hand over 250.0635 hectares of forest land in Raigad district to the City and Industrial Development Corporation (CIDCO), for the development of the Navi Mumbai International Airport (NMIA). … READ FULL STORY The post Maharashtra to hand over forest land for Navi Mumbai Airport appeared first on Housing News.

- Tuesday, July 11, 2017

Court extends Unitech Ltd promoter’s interim bail

Additional sessions judge Virender Kumar Goyal, on July 10, 2017, extended the interim bail granted to Unitech Ltd promoter Sanjay Chandra, till August 9, on a personal bond of Rs 70 lakhs. While extending … READ FULL STORY The post Court extends Unitech Ltd promoter’s interim bail appeared first on Housing News.

- Monday, July 10, 2017

Ministries of Urban Development, Housing and Urban Poverty Alleviation merged

The government has merged the ministries of Urban Development and Housing and Urban Poverty Alleviation, which are involved in policy making in urban areas, to form the Ministry of Housing and Urban Affairs. A … READ FULL STORY The post Ministries of Urban Development, Housing and Urban Poverty Alleviation merged appeared first on Housing News.

- Monday, July 10, 2017

Haryana to link old parts of Gurugram with metro

The Haryana government, on July 8, 2017, said that it has decided to link parts of old and new Gurugram through the metro rail. HUDA City Centre would be connected with the railway station. … READ FULL STORY The post Haryana to link old parts of Gurugram with metro appeared first on Housing News.

- Monday, July 10, 2017

Delhi Metro Airport Line to be extended till Dwarka Sector 25

The Delhi Metro Rail Corporation (DMRC) has invited bids for the construction of a station and the 1.5-km-long extension of the Airport Line till Dwarka Sector 25. Currently, the high-speed corridor runs between the … READ FULL STORY The post Delhi Metro Airport Line to be extended till Dwarka Sector 25 appeared first on Housing News.

- Monday, July 10, 2017

RERA, GST may force developers to invest in project management

With the advent of GST and RERA, developers will now have to adopt higher standards of performance, compelling them to invest in project management, say experts. The government enacted the Real Estate (Regulation and … READ FULL STORY The post RERA, GST may force developers to invest in project management appeared first on Housing News.

- Friday, July 07, 2017

BMC proposes property tax exemption for homes up to 500 sq ft

The Brihanmumbai Municipal Corporation (BMC), has passed a proposal to exempt houses in the city with a carpet area up to 500 sq ft, from property tax. If the government approves the proposal, it … READ FULL STORY The post BMC proposes property tax exemption for homes up to 500 sq ft appeared first on Housing News.

- Friday, July 07, 2017

New residential launches hit all-time low in Hyderabad: Knight Frank report

Ambiguity on the implementation of the Real Estate (Regulation and Development) Act (RERA) 2016 in Telangana, has impacted new housing project launches in the city during the first half of 2017, according to a … READ FULL STORY The post New residential launches hit all-time low in Hyderabad: Knight Frank report appeared first on Housing News.

- Friday, July 07, 2017

Sales volume in Kolkata down by 22 per cent: Knight Frank report

Real estate players are planning to absorb the post-GST additional tax burden of five to six per cent, to prevent a further slump in sales, as the demonetisation hangover continues in the sector. “We … READ FULL STORY The post Sales volume in Kolkata down by 22 per cent: Knight Frank report appeared first on Housing News.

- Friday, July 07, 2017

Explore feasibility of pipeline for recycled water to south Delhi: NGT

A National Green Tribunal (NGT) bench headed by Justice Jawad Rahim, on July 6, 2017, directed the Delhi government to explore the feasibility of laying a dedicated pipeline, to supply recycled water in south … READ FULL STORY The post Explore feasibility of pipeline for recycled water to south Delhi: NGT appeared first on Housing News.

- Thursday, July 06, 2017

Karnataka government approves RERA rules

The Karnataka Real Estate (Regulation and Development) Rules, 2016, was approved by the cabinet on July 5, 2017, the state’s law and parliamentary affairs minister, TB Jayachandra said. The Real Estate (Regulation and Development) … READ FULL STORY The post Karnataka government approves RERA rules appeared first on Housing News.

- Thursday, July 06, 2017

Tamil Nadu government proposes new housing policy

The Tamil Nadu government, on July 5, 2017, proposed a new housing policy that will include a series of changes like reducing the cost of construction. Making a suo motu statement in the state … READ FULL STORY The post Tamil Nadu government proposes new housing policy appeared first on Housing News.

- Thursday, July 06, 2017

Hyderabad metro rail deadline extended to November 2018

The Telangana government has permitted the L&T Metro Rail Hyderabad Limited (L&TMRHL), to complete all the three corridors of the elevated Hyderabad Metro Rail Limited (HMRL) project by November 2018, except for a six-km … READ FULL STORY The post Hyderabad metro rail deadline extended to November 2018 appeared first on Housing News.

- Thursday, July 06, 2017

I-T Department attaches Rs 300-crore benami assets of Bhujbal, family

In fresh trouble for the jailed former deputy chief minister of Maharashtra, the Income Tax (I-T) Department has issued notices for the provisional attachment of assets of Bhujbal, his son Pankaj and nephew Sameer … READ FULL STORY The post I-T Department attaches Rs 300-crore benami assets of Bhujbal, family appeared first on Housing News.

- Wednesday, July 05, 2017

Residential property sales fall to lowest in 5 years: Knight Frank report

The residential real estate market has witnessed its lowest first-half sales and launches in the last five years, along with a resurgence of the affordable housing sector in H1 2017, says a report titled … READ FULL STORY The post Residential property sales fall to lowest in 5 years: Knight Frank report appeared first on Housing News.

- Wednesday, July 05, 2017

Delhi government to adhere to existing funding mechanism for metro

The Delhi government has decided to adhere to the existing funding mechanism of metro projects, for the upcoming Delhi Metro Phase IV, as stated by the centre. The move intends to expedite the 104-km-long … READ FULL STORY The post Delhi government to adhere to existing funding mechanism for metro appeared first on Housing News.

- Wednesday, July 05, 2017

Signal-free Wazirabad-Delhi Airport road to cut travel time to 30 minutes

Delhi Lieutenant Governor (L-G) Anil Baijal, on July 4, 2017, directed the authorities to approve a signal-free road project between north Delhi’s Wazirabad and the IGI Airport, which will bring down travel time on … READ FULL STORY The post Signal-free Wazirabad-Delhi Airport road to cut travel time to 30 minutes appeared first on Housing News.

- Wednesday, July 05, 2017

Delhi CM seeks list of bottlenecks causing road traffic woes

Concerned over traffic congestion in Delhi, chief minister Arvind Kejriwal has written to the chief secretary, asking him to direct the transport department to prepare a list of bottlenecks on the city’s roads by … READ FULL STORY The post Delhi CM seeks list of bottlenecks causing road traffic woes appeared first on Housing News.

- Tuesday, July 04, 2017

Chennai Metropolitan Area to include Kancheepuram, Tiruvallur and Arakkonam

Tamil Nadu Housing and Urban Development Minister, K Radhakrishnan, on July 3, 2017, announced that the whole of Kancheepuram and Tiruvallur districts, besides Arakkonam taluk in Vellore, would be included in the Chennai Metropolitan … READ FULL STORY The post Chennai Metropolitan Area to include Kancheepuram, Tiruvallur and Arakkonam appeared first on Housing News.

- Tuesday, July 04, 2017

NGT refuses to stay tree felling for housing society in Aravalli hills

A National Green Tribunal (NGT) bench, headed by justice Jawad Rahim, on July 3, 2017, refrained from passing a status quo order on a plea that alleged that the state government had granted permission … READ FULL STORY The post NGT refuses to stay tree felling for housing society in Aravalli hills appeared first on Housing News.

- Monday, July 03, 2017

How will GST impact the cost of homes

Under the Goods and Services Tax (GST), the effective tax on under-construction projects has gone up to 12 per cent, which is an increase of 6.5 per cent. The actual GST rate is 18 … READ FULL STORY The post How will GST impact the cost of homes appeared first on Housing News.

- Monday, July 03, 2017

Godrej Properties to develop premium group housing project, in Bengaluru

Godrej Properties Ltd (GPL), on July 3, 2017, announced that it has signed a ‘development management’ agreement, to develop a premium group housing project on Magadi Road, in west Bengaluru. This project will offer … READ FULL STORY The post Godrej Properties to develop premium group housing project, in Bengaluru appeared first on Housing News.

- Monday, July 03, 2017

Godrej Properties launches new residential project in Gurgaon

Godrej Properties Ltd (GPL), on July 3, 2017, announced the addition of a new group housing project in Gurgaon. The project will offer approximately 98,000 sq metres (approximately 1.05 million sq ft) of saleable … READ FULL STORY The post Godrej Properties launches new residential project in Gurgaon appeared first on Housing News.

- Friday, June 30, 2017

DDA launches new housing scheme, with 12,000 flats on offer

Union Urban Development Minister, M Venkaiah Naidu, on June 30, 2017, launched the Delhi Development Authority’s new housing scheme and called for the people of the city to fully utilise the scheme. Addressing a gathering … READ FULL STORY The post DDA launches new housing scheme, with 12,000 flats on offer appeared first on Housing News.

- Friday, June 30, 2017

Construction on Shendra-Bidkin node of DMIC to be completed by August 2019

The Delhi Mumbai Industrial Corridor Development Corporation Limited (DMICDC), on June 29, 2017, said that the construction work in the Shendra-Bidkin node of the DMIC project near Aurangabad in central Maharashtra, is moving at … READ FULL STORY The post Construction on Shendra-Bidkin node of DMIC to be completed by August 2019 appeared first on Housing News.

- Thursday, June 29, 2017

SDMC collects Rs 80 crores in online property tax

There has been a surge in the collection of property tax online, by the South Delhi Municipal Corporation (SDMC), with Rs 80 crores collected in the first quarter this fiscal, the civic body said … READ FULL STORY The post SDMC collects Rs 80 crores in online property tax appeared first on Housing News.

- Thursday, June 29, 2017

GST rates: Under construction properties to attract 12% tax

Although the Goods and Services Tax (GST) rates have already been finalised on most of the goods and services, calculating its real impact appears to be a mammoth task, especially for under-construction properties. The … READ FULL STORY The post GST rates: Under construction properties to attract 12% tax appeared first on Housing News.

- Friday, June 23, 2017

Centre approves 1.27 lakh more houses under PMAY

The central government, on June 22, 2017, approved the construction of 1.27 lakh more houses under the Pradhan Mantri Awas Yojana (Urban), taking the total number of houses sanctioned under the scheme to 20.95 … READ FULL STORY The post Centre approves 1.27 lakh more houses under PMAY appeared first on Housing News.

- Friday, June 23, 2017

EPF members to get housing subsidy of Rs 2.67 lakhs via HUDCO tie-up

A memorandum of understanding (MoU) signed between the Employees’ Provident Fund Organisation (EPFO) and the Housing and Urban Development Corporation (HUDCO), will club the benefits of the housing scheme introduced by the EPFO for … READ FULL STORY The post EPF members to get housing subsidy of Rs 2.67 lakhs via HUDCO tie-up appeared first on Housing News.

- Friday, June 23, 2017

Trial run begins on Pink Line of Delhi Metro

The Delhi Metro, on June 22, 2017, held trial runs on the 6.5-km-long elevated segment between Shakurpur and Mayapuri, on the Majlis Park-Shiv Vihar corridor that has been dubbed the ‘Pink Line’ and is … READ FULL STORY The post Trial run begins on Pink Line of Delhi Metro appeared first on Housing News.

- Friday, June 23, 2017

Delhi L-G approves Pragati Maidan underpass, other infrastructure projects

Delhi Lt Governor Anil Baijal, on June 22, 2017, approved several key infrastructure projects, including an underground tunnel through ITPO’s Pragati Maidan that will connect Mathura Road to Ring Road. The decisions were taken … READ FULL STORY The post Delhi L-G approves Pragati Maidan underpass, other infrastructure projects appeared first on Housing News.

- Thursday, June 22, 2017

Cities should raise funds from local markets: Venkaiah Naidu

Union Urban Development Minister Venkaiah Naidu, on June 22, 2017, exhorted municipal bodies to ‘start looking inward and raise money.’ There is enough money in the system but the local bodies need to tap … READ FULL STORY The post Cities should raise funds from local markets: Venkaiah Naidu appeared first on Housing News.

- Thursday, June 22, 2017

NGT seeks government’s reply, on waste treatment plant in Gurugram wetland

A vacation bench of the National Green Tribunal (NGT), headed by justice SP Wangdi, has sought a response from the environment ministry, the Haryana government led by Manohar Lal Khattar, the Gurugram Municipal Corporation … READ FULL STORY The post NGT seeks government’s reply, on waste treatment plant in Gurugram wetland appeared first on Housing News.

- Wednesday, June 21, 2017

I-T slaps Benami assets law against Lalu Prasad Yadav and family

The Income Tax (I-T) Department has charged six family members of Rashtriya Janata Dal (RJD) chief Lalu Prasad Yadav, under the new and stringent anti-benami assets Act, and also served notices of attachment of … READ FULL STORY The post I-T slaps Benami assets law against Lalu Prasad Yadav and family appeared first on Housing News.

- Wednesday, June 21, 2017

Haryana government prepares draft Land Pooling Policy

The Haryana government’s draft Land Pooling Policy-2017, has proposed giving land owners a part of the developed land, in the form of residential and commercial plots, in lieu of their land contribution, a spokesman … READ FULL STORY The post Haryana government prepares draft Land Pooling Policy appeared first on Housing News.

- Wednesday, June 21, 2017

Delhi’s Ghitorni to get smart city project worth Rs 15,000 crores

A proposal to develop 240 acres of land in south Delhi’s Ghitorni district, is at an advanced stage of consideration at the Ministry of Urban Development (UD), sources said. The project, estimated to cost … READ FULL STORY The post Delhi’s Ghitorni to get smart city project worth Rs 15,000 crores appeared first on Housing News.

- Wednesday, June 21, 2017

Centre’s nod to fourth phase of Delhi Metro

The Union Urban Development ministry has approved the extension of the proposed Aerocity-Tughlaqabad and Defence Colony-Saket lines of the Delhi Metro, up to Jaitpur and IGNOU, respectively. The announcement was made by BJP MP … READ FULL STORY The post Centre’s nod to fourth phase of Delhi Metro appeared first on Housing News.

- Wednesday, June 21, 2017

Housing credit growth slows to 16% in FY17: ICRA

The overall housing credit as on March 31, 2017, stood at Rs 14.4 trillion, as against Rs 12.4 trillion as on March 31, 2016, indicating a growth of 16 per cent in the financial … READ FULL STORY The post Housing credit growth slows to 16% in FY17: ICRA appeared first on Housing News.

- Tuesday, June 20, 2017

Give timeline for completion: Noida Authority to Today Homes

In a builder-buyer meeting called by the Noida Development Authority, to understand the issues and facilitate early completion and registration of flats, the authority, on June 19, 2017, asked Today Homes and Infrastructure Pvt … READ FULL STORY The post Give timeline for completion: Noida Authority to Today Homes appeared first on Housing News.

- Friday, March 31, 2017

Thane civic budget proposes 10% hike in property tax

Thane municipal commissioner Sanjeev Jaiswal, on March 30, 2017, presented a Rs 3,390.78-crore budget for the fiscal year 2017-18, which showed a surplus of Rs 24 lakhs. Jaiswal proposed a 10% increase in property … READ FULL STORY The post Thane civic budget proposes 10% hike in property tax appeared first on Housing News.

- Friday, March 31, 2017

Kolkata residents can now calculate property tax themselves

Citizens of Kolkata will now be able to calculate their property tax themselves, with the passage of the Unit Area Assessment System in the Kolkata Municipal Corporation, on March 30, 2017. There was scope … READ FULL STORY The post Kolkata residents can now calculate property tax themselves appeared first on Housing News.

- Thursday, March 30, 2017

GST Bill passed in Lok Sabha: How will it impact the real estate sector?

With 4 crucial bills on GST being passed in the Lok Sabha on March 29, 2017, it’s now a certainty that the GST would be implemented from July 1, 2017. The GST is being … READ FULL STORY The post GST Bill passed in Lok Sabha: How will it impact the real estate sector? appeared first on Housing News.

- Thursday, March 30, 2017

How has the GST been structured?

The Goods and Services Tax (GST) regime has came a step closer to meet its July 1, 2017 target of rollout, with the Lok Sabha approving four supplementary legislations. The Central GST Bill, 2017; The … READ FULL STORY The post How has the GST been structured? appeared first on Housing News.

- Wednesday, March 29, 2017

Madras HC finally allows resale of unapproved housing plots

A Madras High Court bench of acting chief justice Huluvadi G Ramesh and justice RMT Teekaa Raman, on March 28, 2017, permitted the resale of unapproved housing plots, while modifying its earlier order which … READ FULL STORY The post Madras HC finally allows resale of unapproved housing plots appeared first on Housing News.

- Wednesday, March 29, 2017

4 busy Delhi roads to be developed as model roads

The Delhi administration has announced a pilot project to develop four roads – Mehrauli–Badarpur, Aurobindo Marg, Mathura Road and Chirag Dilli Road – as model roads. “All concerned agencies will ensure that these roads … READ FULL STORY The post 4 busy Delhi roads to be developed as model roads appeared first on Housing News.

- Wednesday, March 29, 2017

Collector’s office files FIR against illegal construction in Versova’s CRZ

The suburban collector’s office has registered an FIR against 53 unauthorised structures that it had identified, in the coastal regulation zone (CRZ) in suburban Versova, an official said. Deependra Singh Kushwah, Mumbai suburban collector, … READ FULL STORY The post Collector’s office files FIR against illegal construction in Versova’s CRZ appeared first on Housing News.

- Tuesday, March 28, 2017

NHB working on revamp of its residential housing index

Housing finance regulator, National Housing Bank (NHB), is working on a complete revamp of its residential housing index or `Residex’. “We are working on a complete revamp of Residex and we are likely to … READ FULL STORY The post NHB working on revamp of its residential housing index appeared first on Housing News.

- Tuesday, March 28, 2017

Towers will be demolished if built without proper sanction: SC to Supertech

A Supreme Court bench comprising justices Dipak Misra and AM Khanwilkar, on March 27, 2017, said that if the two 40-storey residential buildings of Supertech’s Emerald Towers in Noida were constructed without proper sanction, … READ FULL STORY The post Towers will be demolished if built without proper sanction: SC to Supertech appeared first on Housing News.

- Tuesday, March 28, 2017

Falling sales to affect refinancing of realty sector: Ind-Ra report

Given that the real estate sector has mainly relied on refinancing to meet debt servicing obligations, owing to the negative cash flows, it is unlikely to witness a revival in sales in FY18 and … READ FULL STORY The post Falling sales to affect refinancing of realty sector: Ind-Ra report appeared first on Housing News.

- Tuesday, March 28, 2017

SC directs MD of Unitech Ltd to appear before it on May 5, 2017

A Supreme Court bench headed by justice Dipak Misra, on March 27, 2017, asked the directors of real estate major Unitech Ltd, including its managing director, to appear before the court on May 5, … READ FULL STORY The post SC directs MD of Unitech Ltd to appear before it on May 5, 2017 appeared first on Housing News.

- Monday, March 27, 2017

HC sets aside Maharashtra’s policy to regularise illegal buildings

Refusing to approve the Maharashtra government’s policy to regularise illegal structures in the state, a bench of justices Abhay Oka and Anuja Prabhudesai of the Bombay High Court said, “If an illegal structure is … READ FULL STORY The post HC sets aside Maharashtra’s policy to regularise illegal buildings appeared first on Housing News.

- Monday, March 27, 2017

REITs to come up in 12-14 months: Knight Frank

According to a report on real estate investment trusts (REITs) released by Knight Frank, the domestic environment is ripe for listing of REITs, an investment vehicle that invests in rent-yielding completed real estate projects. … READ FULL STORY The post REITs to come up in 12-14 months: Knight Frank appeared first on Housing News.

- Monday, March 27, 2017

Disconnect power to property of tax defaulters: TMC to MSEDC

Thane municipal commissioner Sanjeev Jaiswal, has asked the Maharashtra State Electricity Distribution Co Ltd (MSEDCL) officials, to disconnect power supply to the property of tax defaulters in the city. The Thane Municipal Corporation (TMC) … READ FULL STORY The post Disconnect power to property of tax defaulters: TMC to MSEDC appeared first on Housing News.

- Friday, March 24, 2017

TN to extend validity of building planning permissions, to 5 years

The Tamil Nadu government, on March 24, 2017, has proposed to extend the validity period of building planning permissions, from the existing three years, to five years. The move was necessitated due to difficulties … READ FULL STORY The post TN to extend validity of building planning permissions, to 5 years appeared first on Housing News.

- Friday, March 24, 2017

Altico to provide Rs 300 crores to Phoenix Group for projects in Hyderabad

Non-banking finance company Altico Capital, on March 23, 2017, said that it will provide a credit line of upto Rs 300 crores to realty player Phoenix Group. “The funding, which shall be made in … READ FULL STORY The post Altico to provide Rs 300 crores to Phoenix Group for projects in Hyderabad appeared first on Housing News.

- Thursday, March 23, 2017

Interest subsidy scheme for MIG housing to be effective from January 1, 2017

The Centre’s credit-linked interest subsidy scheme, for housing loans taken by people in the mid-income groups (MIGs), has been made effective from January 1, 2017, with EMIs to go down by over Rs 2,000 … READ FULL STORY The post Interest subsidy scheme for MIG housing to be effective from January 1, 2017 appeared first on Housing News.

- Thursday, March 23, 2017

We will not impose water tax on public: WB govt

West Bengal’s Water Resources Investigation and Development Minister, Saumen Kumar Mahapatra, on March 22, 2017, said that the state government will not impose water tax on the public. “As per the government’s resolve to … READ FULL STORY The post We will not impose water tax on public: WB govt appeared first on Housing News.

- Thursday, March 23, 2017

Affordable housing to be growth driver for housing finance market

Domestic rating agency ICRA, on March 22, 2017, said that the affordable housing segment is likely to grow over 30% over the medium term and will be the key growth driver for the mortgage … READ FULL STORY The post Affordable housing to be growth driver for housing finance market appeared first on Housing News.

- Thursday, March 23, 2017

Emami, Sheth, to develop luxury residential project in Mumbai

The Emami Group has partnered with Sheth Corp and agreed to invest Rs 350 crores, to develop a luxury residential project ‘Montana’ in suburban Mulund in Mumbai. Emami Group’s realty arm Emami Infrastructure and … READ FULL STORY The post Emami, Sheth, to develop luxury residential project in Mumbai appeared first on Housing News.

- Wednesday, March 22, 2017

Aamby Valley will be auctioned if Rs 5,000 crores not paid: SC to Sahara

The Supreme Court, on March 21, 2017, warned the Sahara Group that it will auction its prime property worth Rs 39,000 crores at Aamby Valley in Pune, if Rs 5,092.6 crores is not paid … READ FULL STORY The post Aamby Valley will be auctioned if Rs 5,000 crores not paid: SC to Sahara appeared first on Housing News.

- Wednesday, March 22, 2017

Centre approves 1.10 lakh more houses in 6 states under PMAY

The centre, on March 21, 2017, approved the construction of over 1.10 lakh houses for the urban poor, in six states at a cost of Rs 5,773 crores under the Pradhan Mantri Awas Yojana … READ FULL STORY The post Centre approves 1.10 lakh more houses in 6 states under PMAY appeared first on Housing News.

- Tuesday, March 21, 2017

Mumbai’s International Financial Services Centre to finally become a reality

Pointing out that his government has already appointed a master planner to design the International Financial Services Centre (IFSC) in Mumbai, Maharashtra chief minister Devendra Fadnavis, on March 21, 2017, said that the project … READ FULL STORY The post Mumbai’s International Financial Services Centre to finally become a reality appeared first on Housing News.

- Tuesday, March 21, 2017

Indian real estate to attract USD 4.2 billion global investment: Report

According to a report titled ‘The Great Wall of Money’ by the global consultant Cushman & Wakefield, new capital available for global real estate investment in 2017 is estimated at USD 435 billion, out … READ FULL STORY The post Indian real estate to attract USD 4.2 billion global investment: Report appeared first on Housing News.

- Monday, March 20, 2017

Parents can evict abusive adult children from their house: Delhi HC

Upholding the ‘right of senior citizens or parents to live peacefully and with dignity’, the Delhi High Court has ruled that “As long as the parents have the legal possession of the property, they … READ FULL STORY The post Parents can evict abusive adult children from their house: Delhi HC appeared first on Housing News.

- Monday, March 20, 2017

Parliamentary panel demands probe into cases of fraud in PMAY

A parliamentary panel has asked the Housing and Urban Poverty Alleviation (HUPA) Ministry to immediately get a thorough probe done into the cases of fraud being committed by unscrupulous elements, in the name of … READ FULL STORY The post Parliamentary panel demands probe into cases of fraud in PMAY appeared first on Housing News.

- Monday, March 20, 2017

Lavasa City owes Pune Rs 4 crores in land tax

The Public Accounts Committee (PAC) of the Maharashtra assembly has pointed out that Lavasa City Corporation’s various tax liabilities in Pune district, included Rs 3.97 crores of land tax. The company had purchased 214 … READ FULL STORY The post Lavasa City owes Pune Rs 4 crores in land tax appeared first on Housing News.

- Monday, March 20, 2017

Delhi Metro’s ‘heritage corridor’ between ITO and Kashmere Gate, ready for safety inspection

Delhi Metro has finally approached the safety commissioner, for the inspection of the ITO-Kashmere Gate ‘heritage corridor’, even though it is likely to miss the March launch deadline. The 5.17-km-long section, an extension of … READ FULL STORY The post Delhi Metro’s ‘heritage corridor’ between ITO and Kashmere Gate, ready for safety inspection appeared first on Housing News.

- Monday, March 20, 2017

Maharashtra to set up infrastructure SPV to raise Rs 1 lakh crore

Envisaging an investment of Rs 1 lakh crore in the next five years in the infrastructure sector, the Maharashtra government, on March 18, 2017, proposed to set up a special purpose vehicle (SPV) to … READ FULL STORY The post Maharashtra to set up infrastructure SPV to raise Rs 1 lakh crore appeared first on Housing News.

- Monday, March 20, 2017

RMZ, My Home to invest USD 1 billion in office space projects in Hyderabad

Real estate developer RMZ Corp, has announced a strategic partnership with Hyderabad-based business house, My Home Group, to develop premium commercial office spaces in the city with an investment of over USD 1 billion. … READ FULL STORY The post RMZ, My Home to invest USD 1 billion in office space projects in Hyderabad appeared first on Housing News.

- Friday, March 17, 2017

Government working on Green Urban Mobility Scheme

The government is working on a Green Urban Mobility Scheme, to promote the use of hybrid/electric vehicles and non-fossil fuels among others, for public transport, the Rajya Sabha was informed on March 16, 2017. … READ FULL STORY The post Government working on Green Urban Mobility Scheme appeared first on Housing News.

- Friday, March 17, 2017

Residents oppose demolition drive by GDA in Ghaziabad

Residents of Gulmohar Green Society on March 16, 2017, staged a protest against the demolition drive by the Ghaziabad Development Authority (GDA) and raised slogans against the colony’s builder for allegedly flouting norms. The … READ FULL STORY The post Residents oppose demolition drive by GDA in Ghaziabad appeared first on Housing News.

- Thursday, March 16, 2017

Demonetisation hit stamps and registration revenue: Karnataka CM

The demonetisation exercise caused “great” distress to people and hit Karnataka’s revenues from stamps and registration, causing a shortfall of Rs 1,350 crores during 2016-17, chief minister Siddaramaiah said, on March 15, 2017. Questioning … READ FULL STORY The post Demonetisation hit stamps and registration revenue: Karnataka CM appeared first on Housing News.

- Monday, March 13, 2017

HC pulls up Pune civic body over construction nods amid water shortage

A Bombay High Court division bench of chief justice Manjula Chellur and justice GS Kulkarni, has sought the Pune Municipal Corporation’s (PMC’s) response on the steps to tackle water shortage in the city. The … READ FULL STORY The post HC pulls up Pune civic body over construction nods amid water shortage appeared first on Housing News.

- Monday, March 13, 2017

Delhi-Jaipur Expressway to cost Rs 18,000 crores: Gadkari

The Delhi-Jaipur express highway, would be built at a cost of Rs 18,000 crore, union road minister Nitin Gadkari said, on March 10, 2017. The advanced cement-concrete 225-km express highway, will be the second … READ FULL STORY The post Delhi-Jaipur Expressway to cost Rs 18,000 crores: Gadkari appeared first on Housing News.

- Monday, March 13, 2017

Produce green clearance for building 3 metro stations: Bombay HC to Mumbai Metro Rail Corporation

The Bombay High Court on March 10, 2017, asked the Mumbai Metro Rail Corporation (MMRCL), to place before it documents pertaining to clearance from the Union Environment Ministry (MoEF) for construction of three stations … READ FULL STORY The post Produce green clearance for building 3 metro stations: Bombay HC to Mumbai Metro Rail Corporation appeared first on Housing News.

- Monday, March 13, 2017

Bengal passes KMC (Amendment) Bill, to deal with dilapidated buildings

The West Bengal assembly, on March 10, 2017, passed the Kolkata Municipal Corporation (Amendment) Bill, 2017, which would give legal power to the corporation to ensure repair and maintenance of old and dilapidated buildings … READ FULL STORY The post Bengal passes KMC (Amendment) Bill, to deal with dilapidated buildings appeared first on Housing News.

- Thursday, March 09, 2017

Piped water supply in entire Delhi by end of 2017: AAP government

Deputy chief minister Manish Sisodia, while presenting the budget for Delhi on March 8, 2017, said that the government has resolved to provide piped water supply in all the authorised and unauthorised colonies and … READ FULL STORY The post Piped water supply in entire Delhi by end of 2017: AAP government appeared first on Housing News.

- Thursday, March 09, 2017

Delhi budget: Government allocates Rs 5,500 crores for public transport

Delhi’s deputy chief minister Manish Sisodia, while presenting the budget in the Delhi assembly, has proposed a total expenditure of Rs 5,506 crores for public transport, including road infrastructure in FY 2017-18. This includes … READ FULL STORY The post Delhi budget: Government allocates Rs 5,500 crores for public transport appeared first on Housing News.

- Wednesday, March 08, 2017

CREDAI launches first all-women masons’ batch in Chhattisgarh

Extending support to the United Nations’ HeForShe campaign (UN solidarity movement for gender equality), the Confederation of Real Estate Developer’s Associations of India (CREDAI), on March 8, 2017, announced the launch of its first … READ FULL STORY The post CREDAI launches first all-women masons’ batch in Chhattisgarh appeared first on Housing News.

- Tuesday, March 07, 2017

Mumbai’s revised DP proposes scrapping of No Development Zones

The report on the revised Development Plan (DP) for 2034, for Mumbai, has done away with the controversial zoning of ‘No Development Zones’ (NDZ) and has, instead, categorised this land as Special Development Zone-I … READ FULL STORY The post Mumbai’s revised DP proposes scrapping of No Development Zones appeared first on Housing News.

- Tuesday, March 07, 2017

Ensure timely delivery of housing units: Naidu to builders

Addressing the realtors’ apex body CREDAI Conclave, Union Housing and Urban Poverty Alleviation Minister, M Venkaiah Naidu, on March 6, 2017, expressed concern over the skyrocketing land prices in some cities and said it … READ FULL STORY The post Ensure timely delivery of housing units: Naidu to builders appeared first on Housing News.

- Tuesday, March 07, 2017

Government approves Rs 4,500-crores to revive 50 airports, airstrips

The cabinet, on March 6, 2017, approved a proposal to revive 50 unserved and under-served airports as well as airstrips, at an estimated cost of Rs 4,500 crores. With the plan, the government is … READ FULL STORY The post Government approves Rs 4,500-crores to revive 50 airports, airstrips appeared first on Housing News.

- Monday, March 06, 2017

Widow has right over property bought by husband for her: Delhi court

A widow has a right to enjoy the property purchased by her husband in her name, in the manner she wants and her daughter and son-in-law cannot lay claim over it, a Delhi court … READ FULL STORY The post Widow has right over property bought by husband for her: Delhi court appeared first on Housing News.

- Monday, March 06, 2017

Kundli-Manesar-Palwal Expressway to be completed by June 2017: Officials

The Haryana government’s much awaited Kundli-Manesar-Palwal (KMP) Expressway project is likely to get completed by mid of June 2017, after missing several deadlines in the past. According to officials of the Haryana State Industrial … READ FULL STORY The post Kundli-Manesar-Palwal Expressway to be completed by June 2017: Officials appeared first on Housing News.

- Monday, March 06, 2017

Bengaluru citizens demand alternative to steel flyover, to decongest airport road

Holding placards, a group of citizens, claiming to be residents of the northern part of Bengaluru, along which the road connecting the airport passes through, demanded that alternative arrangements be made, to ease the … READ FULL STORY The post Bengaluru citizens demand alternative to steel flyover, to decongest airport road appeared first on Housing News.

- Monday, March 06, 2017

Illegal structures in Mumbai’s CRZ to be demolished

The Mumbai suburban district administration will start the process of razing illegal structures in the Coastal Regulation Zone (CRZ) in Versova next week, an official said on March 5, 2017. The administration has identified … READ FULL STORY The post Illegal structures in Mumbai’s CRZ to be demolished appeared first on Housing News.

- Friday, March 03, 2017

Benami Act violators to face rigorous imprisonment, and I-T charges

The Income Tax (I-T) department, has warned that those who undertake Benami transactions would invite rigorous imprisonment (RI) of up to 7 years and such violators would also stand to be charged under the … READ FULL STORY The post Benami Act violators to face rigorous imprisonment, and I-T charges appeared first on Housing News.

- Friday, March 03, 2017

Maharashtra seeks investment from Abu Dhabi, in infra projects

The Maharashtra government and Abu Dhabi Investment Authority, will set up a joint task force to explore and facilitate investment in key infrastructure projects in the state. The suggestion came from chief minister Devendra … READ FULL STORY The post Maharashtra seeks investment from Abu Dhabi, in infra projects appeared first on Housing News.

- Thursday, March 02, 2017

PIL for change in Muslim inheritance law: HC seeks government’s reply

A Delhi High Court bench of chief justice G Rohini and justice Sangita Dhingra Sehgal, on March 1, 2017, issued a notice to the government and directed it to examine the alleged discriminatory practice … READ FULL STORY The post PIL for change in Muslim inheritance law: HC seeks government’s reply appeared first on Housing News.

- Thursday, March 02, 2017

Knight Frank Wealth Report shows that Indian UHNWIs still bet on property investment

The annual increase in the number of ultra-high net worth individuals (UHNWIs) in India is all set to double during the next decade, according to global property consultancy, Knight Frank’s 11th edition of The … READ FULL STORY The post Knight Frank Wealth Report shows that Indian UHNWIs still bet on property investment appeared first on Housing News.

- Thursday, March 02, 2017

Builders in Haryana owe the government Rs 12,857 crores

A total of nearly Rs 12,857 crore of external development charges (EDC) were outstanding against builders in Haryana, as on December 31, 2016, with Gurugram and Faridabad accounting for the bulk of the unpaid … READ FULL STORY The post Builders in Haryana owe the government Rs 12,857 crores appeared first on Housing News.

- Wednesday, March 01, 2017

Delhi slips, Thiruvananthapuram tops city governance ranking

Delhi has slipped two places to rank ninth, while Thiruvananthapuram has retained its number one position in the annual city governance ranking, according to a survey released on February 28, 2017, which evaluated 21 … READ FULL STORY The post Delhi slips, Thiruvananthapuram tops city governance ranking appeared first on Housing News.

- Wednesday, March 01, 2017

CRZ notification for Mumbai coastal road project soon

The final coastal regulation zone (CRZ) notification regarding Mumbai’s coastal road project will be issued in a month. Maharashtra chief minister Devendra Fadnavis, said this after a meeting with Union Environment and Forest Minister … READ FULL STORY The post CRZ notification for Mumbai coastal road project soon appeared first on Housing News.

- Wednesday, March 01, 2017

Burrabazar fire: Bengal to amend house owner-tenant laws in KMC Act

After a massive overnight fire destroyed a century-old building at Burrabazar, the West Bengal government is planning an amendment to the Kolkata Municipal Corporation (KMC) Act, regarding disputes between house owners and their tenants. … READ FULL STORY The post Burrabazar fire: Bengal to amend house owner-tenant laws in KMC Act appeared first on Housing News.

- Wednesday, March 01, 2017

Thane court directs collector to auction property of Kalpataru

A court in Thane, on February 28, 2017, directed the district collector to auction the property of the now-defunct Kalpataru Marketing Company and clear the dues of the investors. Additional District and Sessions Judge, … READ FULL STORY The post Thane court directs collector to auction property of Kalpataru appeared first on Housing News.

- Tuesday, February 28, 2017

Haryana extends last date for payment of property tax, to March 31, 2017

The Haryana government, on February 27, 2017, extended the last date for payment of property tax, along with the exemption of 25%, in municipalities, till March 31. The state government had earlier granted the … READ FULL STORY The post Haryana extends last date for payment of property tax, to March 31, 2017 appeared first on Housing News.

- Tuesday, February 28, 2017

Government proposes to increase urban reform incentive fund, to Rs 3000 crores

The Urban Development Ministry has proposed a six-fold increase in its ‘reform incentive fund’ to over Rs 3,000 crores annually, over the next three years, to push implementation of various schemes in the urban … READ FULL STORY The post Government proposes to increase urban reform incentive fund, to Rs 3000 crores appeared first on Housing News.

- Tuesday, February 28, 2017

Give list of cases pending before consumer foras: SC to Unitech

A Supreme Court bench headed by justice Dipak Misra, on February 27, 2017, directed real estate major Unitech, to file the list of cases pending against it before various consumer forums and the amount … READ FULL STORY The post Give list of cases pending before consumer foras: SC to Unitech appeared first on Housing News.

- Monday, February 27, 2017

Centre frames new Transit-Oriented Development policy

The centre has formulated a National Transit-Oriented Development Policy and will discuss the same with states and union territories (UTs), at a national workshop on urban development on February 28, 2017, according to an … READ FULL STORY The post Centre frames new Transit-Oriented Development policy appeared first on Housing News.

- Monday, February 27, 2017

Lone Star and IL&FS partner, to invest in stressed infrastructure assets

With the Government of India (GoI) and the Reserve Bank of India (RBI) focusing on resolving stressed infrastructure assets, private equity firm Lone Star Funds and infrastructure financing company IL&FS, have announced a collaboration, … READ FULL STORY The post Lone Star and IL&FS partner, to invest in stressed infrastructure assets appeared first on Housing News.

- Friday, February 24, 2017

Delhi asks centre to amend 2008 notification to legalise unauthorised colonies

Urban development minister, Satyendra Jain, on February 23, 2017, said that the Delhi government wants to regularise 1,639 unauthorised colonies on an ‘as is where is’ basis and urged the centre to amend its … READ FULL STORY The post Delhi asks centre to amend 2008 notification to legalise unauthorised colonies appeared first on Housing News.

- Friday, February 24, 2017

Piramal Enterprises partners with Ivanhoé Cambridge, to invest in residential projects

Diversified firm Piramal Enterprises (PEL), on February 23, 2017, said that it has entered into a partnership with Ivanhoé Cambridge, to provide long-term equity capital to residential projects across five metros in the country. … READ FULL STORY The post Piramal Enterprises partners with Ivanhoé Cambridge, to invest in residential projects appeared first on Housing News.

- Thursday, February 23, 2017

Landmark decision for home buyers: SC allows flat buyers to directly approach apex consumer commission

The Supreme Court has upheld the order of the National Consumer Disputes Redressal Commission (NCDRC) that flat buyers can jointly approach it, in case of a dispute with a builder. A bench headed by … READ FULL STORY The post Landmark decision for home buyers: SC allows flat buyers to directly approach apex consumer commission appeared first on Housing News.

- Thursday, February 23, 2017

Benami assets: I-T books 230 cases, attaches assets worth Rs 55 crores

A total of 235 cases and instances have been registered under the Benami Transactions Act, by the Income Tax (I-T) department till mid-February, according to a report. “Show-cause notices for attachment have been issued … READ FULL STORY The post Benami assets: I-T books 230 cases, attaches assets worth Rs 55 crores appeared first on Housing News.

- Thursday, February 23, 2017

‘Smart City projects should focus more on natural calamities, climate change’

The Earth Sciences Ministry’s ex-secretary Shailesh Nayak, has said that at a time when earthquakes happen frequently and temperatures are reaching extremes, the government’s ambitious Smart City mission should talk more comprehensively about the … READ FULL STORY The post ‘Smart City projects should focus more on natural calamities, climate change’ appeared first on Housing News.

- Wednesday, February 22, 2017

M&A and InvITs to account 12% of total infrastructure fund requirement

According to India Ratings & Research, infrastructure deals, especially in road sector, in the form of Infrastructure Investment Trusts (InvITs), is likely to gain traction in 2017. “We estimate Rs 0.4 trillion (Rs 400 … READ FULL STORY The post M&A and InvITs to account 12% of total infrastructure fund requirement appeared first on Housing News.

- Tuesday, February 21, 2017

6 Indian cities among the world’s fastest growing

India is home to six of the world’s 30 most dynamic cities. In JLL’s City Momentum Index (CMI) 2017, the country’s primary IT and technology hub, Bengaluru, sits at the top. It is followed … READ FULL STORY The post 6 Indian cities among the world’s fastest growing appeared first on Housing News.

- Tuesday, February 21, 2017

Deposit 14% interest on 39 home buyers’ money: SC to Unitech

Slapping a penalty on Unitech Resorts for delaying handing over of flats, the Supreme Court on February 20, 2017, directed it to deposit 14% interest on Rs 16.55 crores, invested by 39 home buyers … READ FULL STORY The post Deposit 14% interest on 39 home buyers’ money: SC to Unitech appeared first on Housing News.

- Tuesday, February 21, 2017

Talks between union minister Rathore and Parsvnath almost complete: SC informed

Negotiations between union minister Rajyavardhan Singh Rathore and Parsvnath Developers, regarding possession of a flat is nearing completion, a panel of lawyers told the Supreme Court on February 20, 2017. A bench headed by … READ FULL STORY The post Talks between union minister Rathore and Parsvnath almost complete: SC informed appeared first on Housing News.

- Monday, February 20, 2017

Pune’s new Development Control Regulations: Small projects to benefit more

The Pune Municipal Corporation recently sanctioned the new development control regulations (DCR), which allows for higher floor space index (FSI) in certain categories, in non-congested areas. Small developments are likely to benefit more from … READ FULL STORY The post Pune’s new Development Control Regulations: Small projects to benefit more appeared first on Housing News.

- Monday, February 20, 2017

London real estate has potential to flourish, post-Brexit

According to Knight Frank’s ‘The London Report – 2017’, the central London property market has witnessed significant capital inflows since the Brexit referendum, despite an initial pause for breath. For London real estate, the … READ FULL STORY The post London real estate has potential to flourish, post-Brexit appeared first on Housing News.

- Thursday, February 16, 2017

Maharashtra’s revenue from stamp duty falls by Rs 1,000 crores

The Inspector General of Registration (IGR) offices in Maharashtra earned Rs 17,244 crores by the end of January 2016 from stamp duty collection. This year, however, the collection was Rs 16,254 crores till January … READ FULL STORY The post Maharashtra’s revenue from stamp duty falls by Rs 1,000 crores appeared first on Housing News.

- Thursday, February 16, 2017

Indiabulls AIF to raise Rs 1500 crores, to invest in commercial projects

Indiabulls Asset Management, on February 15, 2017, said that it is planning a third real estate fund and its maiden one in the commercial segment and aims to raise Rs 1,500 crores. In the … READ FULL STORY The post Indiabulls AIF to raise Rs 1500 crores, to invest in commercial projects appeared first on Housing News.

- Thursday, February 16, 2017

Piramal Fund Management okays two projects of Rs 1,020 crores, under flexi LRD scheme

Piramal Enterprises’ financial services division, Piramal Fund Management (PFM), has sanctioned two investments worth Rs 1,020 crores under its flexible lease rental discounting (LRD) scheme. The firm has approved Rs 440 crores for Wadhwa … READ FULL STORY The post Piramal Fund Management okays two projects of Rs 1,020 crores, under flexi LRD scheme appeared first on Housing News.

- Wednesday, February 15, 2017

Maharashtra government derails MMRDA’s plans to raise funds for Metro

In a major embarrassment to city’s town planning authority, the Mumbai Metropolitan Region Development Authority (MMRDA), the Maharashtra government has not agreed to become a guarantor for its plans to raise funds from international … READ FULL STORY The post Maharashtra government derails MMRDA’s plans to raise funds for Metro appeared first on Housing News.

- Wednesday, February 15, 2017

Committee to examine how to minimise tree-cutting for Mumbai Metro 3

Maharashtra’s chief minister, Devendra Fadnavis, has asked the Mumbai Metro Rail Corporation to set up a committee of government officers and citizens, which would give suggestions on how to minimise the number of trees … READ FULL STORY The post Committee to examine how to minimise tree-cutting for Mumbai Metro 3 appeared first on Housing News.

- Tuesday, February 14, 2017

GVK Group wins bid for Navi Mumbai International Airport

The GVK Group that runs the swanky MIAL (Mumbai International Airport), pipped rival GMR Group on February 13, 2017, to bag the contract for the proposed international airport in Navi Mumbai, which will ease … READ FULL STORY The post GVK Group wins bid for Navi Mumbai International Airport appeared first on Housing News.

- Monday, February 13, 2017

Pune Metro rail to be operational by 2021

The first line of the Pune Metro is likely to be operational in 2020 and second line by 2021, Maharashtra Metro Rail Corporation (Maha-Metro) managing director Brijesh Dixit has said. “We have completed 35% … READ FULL STORY The post Pune Metro rail to be operational by 2021 appeared first on Housing News.

- Monday, February 13, 2017

Brother has no right on property inherited by married sister: SC

A man cannot claim right over the property inherited by his sister from her husband, as the brother can neither be considered to be her heir, nor her family, the Supreme Court has said. … READ FULL STORY The post Brother has no right on property inherited by married sister: SC appeared first on Housing News.

- Monday, February 13, 2017

NDMC and Delhi Metro seek change in regulations for development

The NDMC and DMRC have sought changes in norms, regarding parking infrastructure and land use from the Delhi Development Authority (DDA) under its budget for the financial year 2017-18. While the North Delhi Municipal … READ FULL STORY The post NDMC and Delhi Metro seek change in regulations for development appeared first on Housing News.

- Friday, February 10, 2017

Haryana digitises land records of 94% villages

The land records of 94% villages in Haryana have been digitised and integrated with property registration software (HARIS), the state’s revenue and disaster management minister Abhimanyu said, on February 9, 2017. Consequently, the land … READ FULL STORY The post Haryana digitises land records of 94% villages appeared first on Housing News.

- Friday, February 10, 2017

Land, real estate should be brought under GST: Delhi deputy CM

Delhi’s deputy chief minister and minister of finance, Manish Sisodia, on February 9, 2017, said that keeping land and real estate outside the purview of the Goods and Services Tax (GST) and a higher … READ FULL STORY The post Land, real estate should be brought under GST: Delhi deputy CM appeared first on Housing News.

- Thursday, February 09, 2017

States’ real estate rules to be examined by parliamentary committee

Minister of State for Housing and Urban Poverty Alleviation (HUPA), Rao Inderjit Singh, in written reply to a question in the Lok Sabha on February 8, 2017, said that the ministry has received representation … READ FULL STORY The post States’ real estate rules to be examined by parliamentary committee appeared first on Housing News.

- Thursday, February 09, 2017

No rate cut is a big disappointment: Realty experts

The Reserve Bank of India (RBI), on February 8, 2017, kept its policy rate unchanged at 6.25%. This decision has been greeted with surprise, by the real estate fraternity. “While the recent demonetisation drive … READ FULL STORY The post No rate cut is a big disappointment: Realty experts appeared first on Housing News.

- Thursday, February 09, 2017

Principal employer, not contractor responsible for construction workers’ pay

Labour secretary M Sathiyavathy, on February 8, 2017, clarified that the payment of workers’ statutory dues in the construction sector, is the sole responsibility of the principal employer. Addressing the 42nd Annual Day celebrations … READ FULL STORY The post Principal employer, not contractor responsible for construction workers’ pay appeared first on Housing News.

- Wednesday, February 08, 2017

RBI keeps lending rate unchanged at 6.25%

In its first monetary policy review in 2017, on February 8, the Reserve Bank of India (RBI) has decided to keep key rates unchanged. Accordingly, the repo rate at which it lends to the … READ FULL STORY The post RBI keeps lending rate unchanged at 6.25% appeared first on Housing News.

- Wednesday, February 08, 2017

Credai expects GST rate to be neutral for housing sector

The apex body of private real estate developers, Credai (Confederation of Real Estate Developers’ Associations of India), on February 7, 2017, said that it is expecting a revenue-neutral GST rate without any adverse impact … READ FULL STORY The post Credai expects GST rate to be neutral for housing sector appeared first on Housing News.

- Wednesday, February 08, 2017

NGT seeks pollution board’s response on exemption given to construction projects

A bench headed by National Green Tribunal (NGT) chairperson Swatanter Kumar, has sought a response from the Central Pollution Control Board (CPCB), on an application filed by the Society for Protection of Environment and … READ FULL STORY The post NGT seeks pollution board’s response on exemption given to construction projects appeared first on Housing News.

- Wednesday, February 08, 2017

Smart city mission has led to comprehensive urban planning: Urban development minister

Urban development minister, M Venkaiah Naidu on February 7, 2017, said that the government’s ‘Smart Cities’ mission, has brought about a paradigm shift, wherein cities approach the challenges differently, rather than doing different things. … READ FULL STORY The post Smart city mission has led to comprehensive urban planning: Urban development minister appeared first on Housing News.

- Wednesday, February 08, 2017

Decks cleared for metro rail expansion projects in Kolkata

According to a senior officer at the Kolkata secretariat Nabanna, the expansion of the existing metro railway from Kabi Subhas-Noapara till the city airport, is expected to be completed by another one-and-a-half years’ time … READ FULL STORY The post Decks cleared for metro rail expansion projects in Kolkata appeared first on Housing News.

- Wednesday, February 08, 2017

CIDCO hoping for more bids for Navi Mumbai Airport

The City and Industrial Development Corporation of Maharashtra (CIDCO), is positive that more firms will participate in the bid for the development of its ambitious Navi Mumbai International Airport project, a senior development authority … READ FULL STORY The post CIDCO hoping for more bids for Navi Mumbai Airport appeared first on Housing News.

- Wednesday, February 08, 2017

Take steps to stop encroachment on wetlands: HC to Maharashtra government

A division bench of justices VM Kanade and PR Bora of the Bombay High Court, on February 7, 2017, directed the government to submit before it old and new Google maps of wetland areas, … READ FULL STORY The post Take steps to stop encroachment on wetlands: HC to Maharashtra government appeared first on Housing News.

- Tuesday, February 07, 2017

Delhi Metro advances Janakpuri-Noida launch deadline to September 2017

Revising its December 2017 deadline, the Janakpuri-Noida ‘Magenta Line’ of the Delhi Metro Rail Corporation (DMRC) will be ready to be commissioned by September, while a segment of the ‘Pink Line’ is also likely … READ FULL STORY The post Delhi Metro advances Janakpuri-Noida launch deadline to September 2017 appeared first on Housing News.

- Tuesday, February 07, 2017

Probe sought into denotification of 400 acres of Gurgaon land

Alleging a scam, Congress party spokesperson Abhishek Singhvi, on February 6, 2017, accused the BJP government in Haryana of being involved a scam and demanded an independent and comprehensive probe into the denotification of … READ FULL STORY The post Probe sought into denotification of 400 acres of Gurgaon land appeared first on Housing News.

- Tuesday, February 07, 2017

SC orders attachment of Sahara’s prime Aamby Valley property

The Supreme Court, on February 6, 2017, directed attachment of the Sahara Group’s Aamby Valley property in Pune, for realisation of money to be paid to its investors. The apex court also asked the … READ FULL STORY The post SC orders attachment of Sahara’s prime Aamby Valley property appeared first on Housing News.

- Monday, February 06, 2017

Government rules out tax incentive beyond Rs 2 lakhs, for second home

Stating that the tax incentive for second home loan borrowers is being virtually misused, revenue secretary Hasmukh Adhia, on February 4, 2017, citing limited resources, said that it was prudent to subsidise first-time buyers … READ FULL STORY The post Government rules out tax incentive beyond Rs 2 lakhs, for second home appeared first on Housing News.

- Monday, February 06, 2017

Qatar Holding first fund to invest in affordable housing in India, post budget

Mumbai-based ArthVeda Fund Management Pvt Ltd (AVFM), on February 6, 2017, announced that Qatar Holding (QH) has committed to invest USD 250 million in its affordable low and middle income (LMI) fund, which projects … READ FULL STORY The post Qatar Holding first fund to invest in affordable housing in India, post budget appeared first on Housing News.

- Monday, February 06, 2017

Budget 2017: 7 new rail line projects sanctioned for Maharashtra

Seven new lines, covering 3,123 kilometres and several other projects, have been sanctioned by the government for Maharashtra, in the Union Budget 2017-18 presented by finance minister Arun Jaitley. This year, the Railway Budget … READ FULL STORY The post Budget 2017: 7 new rail line projects sanctioned for Maharashtra appeared first on Housing News.

- Friday, February 03, 2017

Indian real estate gets a measly 1% share of global capital inflows

It makes for a telling revelation that considering the 11,500 developers under the CREDAI (Confederation of Real Estate Developers’ Associations of India) umbrella, the number of developers who have consistently delivered projects across all … READ FULL STORY The post Indian real estate gets a measly 1% share of global capital inflows appeared first on Housing News.

- Friday, February 03, 2017

Only 54% of land title documents digitised so far in Maharashtra

Only 54% of the total 2.5 crore 7/12 receipts (a land title document) in Maharashtra have been digitised so far, a state government said. Maharashtra’s revenue minister Chandrakant Patil, in December 2016, had announced … READ FULL STORY The post Only 54% of land title documents digitised so far in Maharashtra appeared first on Housing News.

- Thursday, February 02, 2017

Budget 2017: Expectations vs actual announcements for real estate

The real estate fraternity and home buyers, have now started analysing the fine print of the announcements made in the Union Budget 2017-18. This budget has drawn a clear distinction, between the affordable housing … READ FULL STORY The post Budget 2017: Expectations vs actual announcements for real estate appeared first on Housing News.

- Thursday, February 02, 2017

Budget 2017 analysis: Experts believe middle-class home buyers have been ignored

While the real estate fraternity has largely welcomed the announcements in the Union Budget 2017-18, certain sections in this sector, apart from the affordable housing segment, as well as buyers, are still trying to … READ FULL STORY The post Budget 2017 analysis: Experts believe middle-class home buyers have been ignored appeared first on Housing News.

- Thursday, February 02, 2017

Budget 2017: The Aam Admi’s verdict

Sandeep Doke Senior manager – telecom industry, Pune Home buyers’ confidence in the real estate industry, is likely to increase, if the Real Estate Regulation Act (RERA) is implemented at the earliest. Demonetisation has … READ FULL STORY The post Budget 2017: The Aam Admi’s verdict appeared first on Housing News.

- Wednesday, February 01, 2017

Budget 2017: Infrastructure status to give a big boost to affordable housing

With the real estate sector hoping for a push from the Union Budget 2017-18, the announcement of ‘infrastructure status’ to the affordable housing sector, can serve as a significant step in achieving the government’s … READ FULL STORY The post Budget 2017: Infrastructure status to give a big boost to affordable housing appeared first on Housing News.

- Wednesday, February 01, 2017

Budget 2017: What did developers and home buyers gain

Budget 2017: For individual home buyers   No change in home loan exemptions With skyrocketing prices of homes, in big as well as small cities, the average size of the home loan that an … READ FULL STORY The post Budget 2017: What did developers and home buyers gain appeared first on Housing News.

- Wednesday, February 01, 2017

Budget 2017: Realty welcomes reduction in long-term capital gains tenure

Reduction in tenure of long-term capital gains Real estate investors, who were looking for a quick exit option to switch their investment or to book profits, were often discouraged by the long-term capital gain … READ FULL STORY The post Budget 2017: Realty welcomes reduction in long-term capital gains tenure appeared first on Housing News.

- Wednesday, February 01, 2017

Experts hail infrastructure status to affordable housing

The real estate sector has largely welcomed the various measures that finance minister Arun Jaitley announced in his Union Budget 2017-18 presentation on February 1, 2017. “We must appreciate the fact that the government … READ FULL STORY The post Experts hail infrastructure status to affordable housing appeared first on Housing News.

- Wednesday, February 01, 2017

Budget 2017: Infrastructure status for affordable housing and other sops

“We propose to facilitate higher investment in affordable housing. Affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits,” finance minister Arun Jaitley, announced in his … READ FULL STORY The post Budget 2017: Infrastructure status for affordable housing and other sops appeared first on Housing News.

- Tuesday, January 31, 2017

Ready properties to see more demand in the short term: Colliers International

Although the implementation of various regulatory reforms, such as the Real Estate (Regulation & Development) Act (RERA), Goods and Services Tax (GST) and the Benami Transactions (Prohibition) Amendment Act, 2016, are likely to bring … READ FULL STORY The post Ready properties to see more demand in the short term: Colliers International appeared first on Housing News.

- Tuesday, January 31, 2017

West Bengal to build new townships in sync with Tagore’s ideals

The West Bengal government is planning a new township named ‘Gitabitan’, between Santiniketan and Bolpur, with all modern facilities for individuals to live close to Tagore’s dream village Sriniketan, the state’s Urban Development and … READ FULL STORY The post West Bengal to build new townships in sync with Tagore’s ideals appeared first on Housing News.

- Tuesday, January 31, 2017

Madras HC declines to vacate its order on land issue

The first bench of the Madras High Court, comprising chief justice Sanjay Kishan Kaul and Justice M Sundar, on January 30, 2017, declined to vacate the order banning the registration of plots and houses, … READ FULL STORY The post Madras HC declines to vacate its order on land issue appeared first on Housing News.

- Monday, January 30, 2017

WB government considering centralisation of conversion of agriculture land

“The West Bengal cabinet, in a recent meeting discussed that the control over the conversion of agricultural land into other purposes, should remain in the hands of the government’s top level, to avoid interference … READ FULL STORY The post WB government considering centralisation of conversion of agriculture land appeared first on Housing News.

- Monday, January 30, 2017

SC upholds HUDA’s rejection of highest bid for Gurgaon tower

In a major verdict, the Supreme Court, on January 27, 2017, upheld the decision of the Haryana Urban Development Authority (HUDA), to reject the highest bid of Rs 111.75 crores of a firm for … READ FULL STORY The post SC upholds HUDA’s rejection of highest bid for Gurgaon tower appeared first on Housing News.

- Monday, January 30, 2017

NCDRC directs Unitech to refund Rs 3.33 crores to Noida home buyer

The National Consumer Disputes Redressal Commission (NCDRC), has asked Unitech Hi-Tech Developers Ltd to refund the payment of Rs 3.33 crore made by a couple in 2010, towards the purchase of a flat in … READ FULL STORY The post NCDRC directs Unitech to refund Rs 3.33 crores to Noida home buyer appeared first on Housing News.

- Friday, January 27, 2017

Government’s urban plan aims to reduce water, power use by half

India’s future strategy for urban development intends to tap into the potential of rapid urbanisation for economic development, while at the same time addressing issues of sustainable development and climate change, announced Housing and … READ FULL STORY The post Government’s urban plan aims to reduce water, power use by half appeared first on Housing News.

- Friday, January 27, 2017

Navi Mumbai airport bids extended yet again to February 13, 2017

The City and Industrial Development Corporation (CIDCO), for the second time on January 25, 2017, extended the deadline for submitting bids for the Navi Mumbai Airport to February 13, as it received only one … READ FULL STORY The post Navi Mumbai airport bids extended yet again to February 13, 2017 appeared first on Housing News.

- Friday, January 27, 2017

Moody’s downgrades Lodha Developer’s ratings

Global ratings agency Moody’s Investors Service has downgraded the corporate family rating of Mumbai-based realty firm Lodha Developers Pvt Ltd (LDPL) to B2 from B1, citing reasons of weak liquidity position and high refinancing … READ FULL STORY The post Moody’s downgrades Lodha Developer’s ratings appeared first on Housing News.

- Wednesday, January 25, 2017

Hyderabad MMTS Phase-II to be commissioned by December 2018

The Multi-Modal Transit System (MMTS) Phase-II will be commissioned partly by the end of December 2017 and the total stretch of the project will be commissioned by the end of December 2018, revealed Vinod … READ FULL STORY The post Hyderabad MMTS Phase-II to be commissioned by December 2018 appeared first on Housing News.

- Wednesday, January 25, 2017

Germany to finance strategic infrastructure projects in India

Germany is ready to support India’s growth story and become part of India’s DNA, in key long-term strategic projects for India’s growth, according to an Indian Embassy statement, quoting Matthias Machnig, state secretary, federal … READ FULL STORY The post Germany to finance strategic infrastructure projects in India appeared first on Housing News.

- Tuesday, January 24, 2017

Government approves 3% interest subsidy on homes loans upto Rs 2 lakhs

Close on the heels of the prime minister’s new year’s eve address to the nation, where he announced an interest subsidy scheme, the central government on January 24, 2017, has cleared another similar scheme, … READ FULL STORY The post Government approves 3% interest subsidy on homes loans upto Rs 2 lakhs appeared first on Housing News.

- Tuesday, January 24, 2017

Government to utilise geo-spatial technology to build smart cities

The centre is planning to extensively utilise geo-spatial technology, to realise its vision of building 100 smart cities across the country, union urban development minister, M Venkaiah Naidu revealed on January 23, 2017. “Cities, … READ FULL STORY The post Government to utilise geo-spatial technology to build smart cities appeared first on Housing News.

- Monday, January 23, 2017

Office market to stay strong despite falling growth numbers: Colliers report

The policy changes that the government is implementing, should help improve business confidence in India and result in robust office leasing demand in the coming years. Occupiers looking for large, quality spaces, should consider … READ FULL STORY The post Office market to stay strong despite falling growth numbers: Colliers report appeared first on Housing News.

- Monday, January 23, 2017

SDMC goes cashless, to receive digital payments for taxes above Rs 500

Receipts of tax on sale of land and buildings, conversion to freehold, development charges from private parties, car parking charges, trade licenses, booking of community centers for weddings, tax on advertisement and registration of … READ FULL STORY The post SDMC goes cashless, to receive digital payments for taxes above Rs 500 appeared first on Housing News.

- Thursday, January 19, 2017

TN, WB and Kerala to get 78,500 more homes, under Pradhan Mantri Awas Yojana

The ministry of Housing and Urban Poverty Alleviation (HUPA), on January 18, 2017, has approved the construction of 78,703 additional affordable houses for the Economically Weaker Sections (EWS) in the states of Tamil Nadu, … READ FULL STORY The post TN, WB and Kerala to get 78,500 more homes, under Pradhan Mantri Awas Yojana appeared first on Housing News.

- Wednesday, January 18, 2017

Housing Minister Venkaiah Naidu warns states against diluting real estate law

Union Housing and Urban Poverty Alleviation Minister, M Venkaiah Naidu, on January 17, 2017, asked all states to implement the Real Estate (Regulation and Development) Act, at the earliest. Describing it as one of … READ FULL STORY The post Housing Minister Venkaiah Naidu warns states against diluting real estate law appeared first on Housing News.

- Tuesday, January 17, 2017

Centre, states reach consensus on GST; rollout from July 1, 2017

In a significant breakthrough in the implementation of India’s biggest tax reform, the deadlock over the administration of GST ended on January 16, 2017, after the Centre agreed to allow states control over most … READ FULL STORY The post Centre, states reach consensus on GST; rollout from July 1, 2017 appeared first on Housing News.

- Monday, January 16, 2017

Realty hit hard by demonetisation, awaits ‘white money’ buyers

Genuine buyers in the residential real estate market, appear to be holding back their purchase plans, on hopes that the interest rates would fall further and the property prices would plunge, post demonetisation, which … READ FULL STORY The post Realty hit hard by demonetisation, awaits ‘white money’ buyers appeared first on Housing News.

- Monday, January 16, 2017

Total PE into Indian real estate in 2016 vastly exceeds 2015 inflows

In 2016, equity investments witnessed a return journey to India. After the change in its regulatory framework, the country is now looking way more attractive to investors -? both, foreign and domestic ?- than … READ FULL STORY The post Total PE into Indian real estate in 2016 vastly exceeds 2015 inflows appeared first on Housing News.

- Monday, January 16, 2017

SEBI permits mutual funds to invest in REITs and InvITs

As it looks at ways to attract more investors into the capital market, the Securities and Exchange Board of India (SEBI) board, has allowed mutual funds to invest in real estate investment trusts (REITs) … READ FULL STORY The post SEBI permits mutual funds to invest in REITs and InvITs appeared first on Housing News.

- Thursday, January 12, 2017

Sobha gets top honours in India’s first ever real estate best practices audit report

Sobha Ltd has been ranked number one in Track2Realty’s Best Practices Report-2017, followed by Godrej Properties and the Prestige Group. This is the first of its kind in-depth report on best practices prevalent in … READ FULL STORY The post Sobha gets top honours in India’s first ever real estate best practices audit report appeared first on Housing News.

- Thursday, January 12, 2017

HC stays allotment of 1,000 flats in Supertech’s Greater Noida project

The Allahabad High Court, on January 11, 2017, stayed the allotment of more than 1,000 flats in Supertech Czar Suites luxury apartments at Greater Noida, after allegations that proper sanction was not obtained for … READ FULL STORY The post HC stays allotment of 1,000 flats in Supertech’s Greater Noida project appeared first on Housing News.

- Thursday, January 12, 2017

Government to add 40 more towns to Smart Cities list

Union minister, M Venkaiah Naidu, on January 11, 2017, announced that the government is planning to add 40 new cities to its list of Smart Cities, taking the total to 100. Since January 2016, … READ FULL STORY The post Government to add 40 more towns to Smart Cities list appeared first on Housing News.

- Tuesday, January 10, 2017

PropTiger and Housing.com come together to become India’s largest digital real estate company, procuring the largest investment in recent times

PropTiger.com and Housing.com, two of India’s leading online real estate service providers, today announced they will come together to become India’s largest online real estate services company. As part of the transaction, REA Group … READ FULL STORY The post PropTiger and Housing.com come together to become India’s largest digital real estate company, procuring the largest investment in recent times appeared first on Housing News.

- Tuesday, January 10, 2017

Home loans turn cheaper, as Bank of Baroda and others cut rates

The state-run Bank of Baroda (BoB) reduced its home loan rates by 70 basis points to 8.35% – the lowest across the industry and will be applicable for customers having a strong CIBIL score. … READ FULL STORY The post Home loans turn cheaper, as Bank of Baroda and others cut rates appeared first on Housing News.

- Tuesday, January 10, 2017

Mumbai legislators oppose hike in Ready Reckoner rates

Legislators from Mumbai’s suburban districts, on January 9, 2017, opposed any hike in the Ready Reckoner rates, during a meeting called by Collector DS Kushwa. Only three legislators – former minister Mohammed Arif Naseem … READ FULL STORY The post Mumbai legislators oppose hike in Ready Reckoner rates appeared first on Housing News.

- Tuesday, January 10, 2017

Madras HC declines to relax order banning registration of unapproved plots

The Madras High Court has refused to relax the ban on the registration of unapproved plots in Tamil Nadu, saying that the whole endeavour was to untangle the mess created by indiscriminate conversion of … READ FULL STORY The post Madras HC declines to relax order banning registration of unapproved plots appeared first on Housing News.

- Monday, January 09, 2017

Metro Phase IV cleared by Delhi government

The Delhi government, recently, cleared the fourth phase of the Delhi Metro project, covering 103 kilometres and taking the network to the outer areas of the National Capital Region (NCR). The mega project, as … READ FULL STORY The post Metro Phase IV cleared by Delhi government appeared first on Housing News.

- Monday, January 09, 2017

Supertech to SC: Not been able to raise funds due to note ban

Real estate major Supertech, on January 6, 2017, expressed its inability in the Supreme Court due to demonetisation, to deposit Rs 10 crores for refunding home buyers who want to wriggle out of its … READ FULL STORY The post Supertech to SC: Not been able to raise funds due to note ban appeared first on Housing News.

- Monday, January 09, 2017

Maharashtra to ease land revenue norms, for infrastructure projects

The state government has come up with an amendment in the Maharashtra Land Revenue Code, following which non-agriculture certification will no longer be required, for a land for which development plan is finalised. Unless … READ FULL STORY The post Maharashtra to ease land revenue norms, for infrastructure projects appeared first on Housing News.

- Friday, January 06, 2017

Nearly 11 million sq ft of new retail space supply in 2017: Report

According to a report by property consultant Cushman & Wakefield, in 2016, the supply of retail space touched a five-year high to 5.3 million sq ft across eight cities. “Retail mall spaces have seen … READ FULL STORY The post Nearly 11 million sq ft of new retail space supply in 2017: Report appeared first on Housing News.

- Friday, January 06, 2017

NGT asks ministry of environment to not act under new notification

A bench headed by the National Green Tribunal (NGT) chairperson, justice Swatanter Kumar, on January 5, 2017, took the Ministry of Environment and Forests (MoEF) to task, for not ‘applying its mind’, while amending … READ FULL STORY The post NGT asks ministry of environment to not act under new notification appeared first on Housing News.

- Friday, January 06, 2017

MHADA areas to be redeveloped by charging only premium

Housing minister Prakash Mehta, on January 5, 2017, announced that the Maharashtra government will only take a premium for redevelopment of Maharashtra Housing and Area Development Authority (MHADA) layouts and that the condition that … READ FULL STORY The post MHADA areas to be redeveloped by charging only premium appeared first on Housing News.

- Friday, January 06, 2017

Connaught Place to go vehicle-free for three months, from February 2017

Pedestrianisation of Connaught Place on a pilot basis, will be implemented for three months from February 2017, for ground-level testing of issues related to changes in traffic circulation, experience of pedestrians and shop owners, … READ FULL STORY The post Connaught Place to go vehicle-free for three months, from February 2017 appeared first on Housing News.

- Thursday, January 05, 2017

More banks cut rates by up to 0.9%

In a move that will help bring down the cost of home, auto and other loans linked to the marginal cost of funds-based lending rate (MCLR), more banks slashed their benchmark lending rates on … READ FULL STORY The post More banks cut rates by up to 0.9% appeared first on Housing News.

- Thursday, January 05, 2017

Lodha Group launches Startup Investment Fund

The Lodha Group, on January 4, 2017, announced the setting up of its Startup Investment Fund, which will not only provide angel funding or venture capital, but also business opportunities, industry contacts and mentorship. … READ FULL STORY The post Lodha Group launches Startup Investment Fund appeared first on Housing News.

- Thursday, January 05, 2017

Mangrove fencing in Mumbai soon, to check encroachment

Pointing out that the maximum damage to mangrove areas, have taken place in Colaba, Worli and Malvani, the Mangrove Cell of the Maharashtra government is likely to start fencing these areas by February 2017. … READ FULL STORY The post Mangrove fencing in Mumbai soon, to check encroachment appeared first on Housing News.

- Thursday, January 05, 2017

Godrej Properties sells 300 units in Pune in two months

Realty firm Godrej Properties has said that over 300 apartments of its Godrej Greens housing project in Pune, have been sold within two months of its launch. This represents more than 75% of the … READ FULL STORY The post Godrej Properties sells 300 units in Pune in two months appeared first on Housing News.

- Tuesday, January 03, 2017

Banks cut base rates; home loans to be cheaper

Taking a cue from State Bank of India, other lenders including India’s largest private sector lender ICICI Bank and state-owned Oriental Bank of Commerce and Andhra Bank, have announced cuts in their marginal cost … READ FULL STORY The post Banks cut base rates; home loans to be cheaper appeared first on Housing News.

- Tuesday, January 03, 2017

NGT issues interim stay on Pune Metro construction

The National Green Tribunal’s (NGT’s) west zone bench, on January 2, 2017, comprising justice UD Salavi and Dr Ajay Deshpande, granted an interim stay on any kind of construction of the Pune Metro route … READ FULL STORY The post NGT issues interim stay on Pune Metro construction appeared first on Housing News.

- Tuesday, January 03, 2017

Government targeting houses for 44L people, with power, water, LPG

Pursuing its aim of providing ‘homes and not houses’, the centre on January 2, 2017, said that it will not only provide a roof over the heads of as many as 44 lakh people … READ FULL STORY The post Government targeting houses for 44L people, with power, water, LPG appeared first on Housing News.

- Monday, January 02, 2017

Interest subsidy for housing loans up to Rs 12 lakhs: Modi

Prime minister Narendra Modi, in his national address on new year’s eve, announced a slew of measures, to provide homes for the poor and middle-class in both, rural and urban areas. Elaborating on the … READ FULL STORY The post Interest subsidy for housing loans up to Rs 12 lakhs: Modi appeared first on Housing News.

- Thursday, December 29, 2016

Borrowers to get additional 90 days to repay home loans

In further relief to people hit by demonetisation, the Reserve Bank of India (RBI), on December 28, 2016, gave borrowers another 30 days, over and above 60 days, for repayment of housing, car, farm … READ FULL STORY The post Borrowers to get additional 90 days to repay home loans appeared first on Housing News.

- Thursday, December 29, 2016

Maharashtra to have digitally signed 7/12 receipts from March 2017

Come March 2017, every land owner in Maharashtra, can obtain a digital copy of the land-title document, popularly known as 7/12 receipt/extract. It would be like income tax returns, which are now digitally signed … READ FULL STORY The post Maharashtra to have digitally signed 7/12 receipts from March 2017 appeared first on Housing News.

- Wednesday, December 28, 2016

MMRDA initiated projects worth Rs 80,000 crores in 2016

With a view to decongest the megapolis, the Mumbai Metropolitan Region Development Authority (MMRDA) undertook projects worth Rs 80,000 crores in 2016. This includes five metro projects – Dahisar west to DN Nagar Metro-2A … READ FULL STORY The post MMRDA initiated projects worth Rs 80,000 crores in 2016 appeared first on Housing News.

- Wednesday, December 28, 2016

Hyderabad Metro project has attained 75% overall progress

The ongoing 72-km elevated Hyderabad Metro Rail (HMR) project, has achieved 75% overall progress, its managing director NVS Reddy said. “2016 has been an eventful year for the Hyderabad Metro Rail project. Several long-pending … READ FULL STORY The post Hyderabad Metro project has attained 75% overall progress appeared first on Housing News.

- Tuesday, December 27, 2016

Housing.com partners with Tata Housing to develop digital platform

Housing.com and Tata Housing, a subsidiary of Tata Sons Limited, have signed a multi-level strategic partnership deal, in which Housing.com will create an exclusive, integrated, pan-India brand platform, showcasing the real estate major’s current … READ FULL STORY The post Housing.com partners with Tata Housing to develop digital platform appeared first on Housing News.

- Tuesday, December 27, 2016

MoEF’s notification on doing away with environment clearance for construction, under NGT scanner

Refusing to stay a December 9, 2016, notification issued by the Ministry of Environment and Forests (MoEF), exempting real estate projects from obtaining prior environmental clearance, a bench headed by NGT chief justice Swatanter … READ FULL STORY The post MoEF’s notification on doing away with environment clearance for construction, under NGT scanner appeared first on Housing News.

- Tuesday, December 27, 2016

Railways asks WB government to take charge of all ongoing and new projects

The Railways has sent a letter to the West Bengal government, stating that from now on, the state has to take responsibilities of all ongoing and upcoming projects of the suburban system, as well … READ FULL STORY The post Railways asks WB government to take charge of all ongoing and new projects appeared first on Housing News.

- Friday, December 23, 2016

PM Modi to lay foundation stone for Mumbai Trans-Harbour Link on December 24, 2016

Prime minister Narendra Modi, will lay the foundation stones for the much-delayed Mumbai Trans-Harbour Link and two metro projects DN Nagar-Mankhurd Metro-2B and the 32-km Wadala-Ghatkopar-Mulund-Thane-Kasarvadavali corridor, on December 24, 2016, in Mumbai. Apart … READ FULL STORY The post PM Modi to lay foundation stone for Mumbai Trans-Harbour Link on December 24, 2016 appeared first on Housing News.

- Friday, December 23, 2016

Funding for Noida-Greater Noida Metro Rail approved

The Noida Authority, on December 22, 2016, approved the funding pattern for the Noida-Greater Noida Metro Rail Project, at its board meeting in Lucknow. The 14.958-kilometre metro line, between Sector 71 to Knowledge Park … READ FULL STORY The post Funding for Noida-Greater Noida Metro Rail approved appeared first on Housing News.

- Friday, December 23, 2016

Haryana government makes Energy Conservation Building Code mandatory

The Haryana government has made implementation of the Energy Conservation Building Code (ECBC) mandatory, in its stakeholder departments and different organisations. These organisations include the Architecture Department, Public Works (Building and Roads), Town and … READ FULL STORY The post Haryana government makes Energy Conservation Building Code mandatory appeared first on Housing News.

- Thursday, December 22, 2016

SDMC provides high-tech ID cards to property tax payers

The South Delhi Municipal Corporation (SDMC), on December 21, 2016, started distributing unique property identification code (UPIC) cards to the 16 lakh property holders under its jurisdiction. The UPIC cards have been provided with … READ FULL STORY The post SDMC provides high-tech ID cards to property tax payers appeared first on Housing News.

- Thursday, December 22, 2016

Court cancels non-bailable warrants against Unitech’s MDs

A Delhi court has cancelled the non-bailable warrants (NBWs) against the two managing directors of real estate major Unitech Ltd, Ajay Chandra and Sanjay Chandra, in a case of alleged misappropriation of Rs 500 … READ FULL STORY The post Court cancels non-bailable warrants against Unitech’s MDs appeared first on Housing News.

- Wednesday, December 21, 2016

Bengal’s Green City Mission gets a kickstart

The Green City Mission of the West Bengal government will start, with an initial funding of Rs 50 lakhs each to all 125 municipalities, the state’s urban development minister, Firhad Hakim said. “We will … READ FULL STORY The post Bengal’s Green City Mission gets a kickstart appeared first on Housing News.

- Friday, December 16, 2016

Delhi’s Eastern, Western Peripheral Expressways likely by August 2017: Gadkari

The Eastern and Western Peripheral Expressways, being constructed at a cost of Rs 15,000 crores, are expected to be thrown open by August 2017. The two roads will reduce Delhi’s congestion by 50%, besides … READ FULL STORY The post Delhi’s Eastern, Western Peripheral Expressways likely by August 2017: Gadkari appeared first on Housing News.

- Friday, December 16, 2016

Bill passed to simplify property tax collection in Kolkata

The Kolkata Municipal Corporation (Amendment) Bill 2016, was passed in the West Bengal assembly on December 15, 2016, to simplify the assessment and collection of property tax and make the entire process more transparent. … READ FULL STORY The post Bill passed to simplify property tax collection in Kolkata appeared first on Housing News.

- Friday, December 16, 2016

Industrial township proposed for Sonepat, could generate 34,000 jobs

One of the largest real estate developers in China, the Wanda Group, has submitted a proposal for setting up a greenfield integrated industrial township in Sonepat, in a joint venture with the Haryana State … READ FULL STORY The post Industrial township proposed for Sonepat, could generate 34,000 jobs appeared first on Housing News.

- Thursday, December 15, 2016

Delhi court issues notice to Indiabulls Real Estate on cheating plea

A Delhi court has issued a notice to Indiabulls Real Estate Ltd and its subsidiary firm Athena Infrastructural Ltd, on a criminal complaint seeking the lodging of an FIR against them for allegedly cheating … READ FULL STORY The post Delhi court issues notice to Indiabulls Real Estate on cheating plea appeared first on Housing News.

- Friday, December 09, 2016

Net office absorption across the top eight cities likely to surge by up to 10% to 32.4 million sq ft, in 2017

Net office absorption across the top eight cities (Ahmedabad, Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai and Pune), is likely to surge by up to 10% to 32.4 million sq ft in 2017, the highest … READ FULL STORY The post Net office absorption across the top eight cities likely to surge by up to 10% to 32.4 million sq ft, in 2017 appeared first on Housing News.

- Friday, December 09, 2016

Right time to invest in UAE, say real estate experts, with Dubai Property Show beginning on December 9

With the real estate sector in India going through a rough patch, Dubai’s property market could stand to gain, as an attractive investment destination. “The key triggers that attract Indians to Dubai are its … READ FULL STORY The post Right time to invest in UAE, say real estate experts, with Dubai Property Show beginning on December 9 appeared first on Housing News.

- Thursday, December 08, 2016

Cabinet approves phase-1 of Pune Metro project

The union cabinet, chaired by prime minister Narendra Modi, on December 7, 2016, approved the development of Pune Metro Rail Project Phase-1, an official release said. The project will comprise of two corridors – … READ FULL STORY The post Cabinet approves phase-1 of Pune Metro project appeared first on Housing News.

- Wednesday, December 07, 2016

RBI dashes hopes of lower home loan rates, keeps rate unchanged at 6.25%

Taking markets by surprise, the Reserve Bank of India (RBI) governor Urjit Patel, on December 7, 2016, kept short-term lending rates unchanged, even as the central bank lowered GDP growth rate to 7.1% and … READ FULL STORY The post RBI dashes hopes of lower home loan rates, keeps rate unchanged at 6.25% appeared first on Housing News.

- Wednesday, December 07, 2016

Area around Mumbai’s Sanjay Gandhi National Park declared eco-sensitive zone

The Environment, Forest and Climate Change Ministry has notified an eco-sensitive zone (ESZ) around Sanjay Gandhi National Park (SGNP) in Mumbai, covering an area of 59.46 sq kilometres of which 19.25 sq kilometres is … READ FULL STORY The post Area around Mumbai’s Sanjay Gandhi National Park declared eco-sensitive zone appeared first on Housing News.

- Friday, December 02, 2016

Government may frame rules, take over pending SRA projects in Mumbai

The Maharashtra government is mulling the introduction of a regulation, to take over incomplete housing projects of SRA (Slum Rehabilitation Authority) and handing them over to other agencies through tenders. “After taking over such … READ FULL STORY The post Government may frame rules, take over pending SRA projects in Mumbai appeared first on Housing News.

- Thursday, December 01, 2016

Mumbai’s lifeline – the railways, gets a Rs 10,000-crore boost

The union cabinet, on November 30, 2016, approved the Mumbai Urban Transport Project (MUTP) Phase-III. The estimated cost of the project is Rs 8,679 crores, with a completion cost of Rs 10,947 crores. The … READ FULL STORY The post Mumbai’s lifeline – the railways, gets a Rs 10,000-crore boost appeared first on Housing News.

- Thursday, December 01, 2016

Top 8 cities will need 4.2 million houses in 5 years: Report

Total demand for urban housing is estimated at 4.2 million units for the period of 2016-2020, across the top eight cities, according to a report. Existing under-construction and planned supply of 1.0 million housing … READ FULL STORY The post Top 8 cities will need 4.2 million houses in 5 years: Report appeared first on Housing News.

- Wednesday, November 30, 2016

India could pay a hefty price of almost $1.8 trillion by 2050, for unplanned urbanisation: Study

If India continues with its current trend of ‘poorly planned, sprawling and unconnected’ pattern of urbanisation, it could cost the country upto USD 1.8 trillion by mid-century, according to a new study from the … READ FULL STORY The post India could pay a hefty price of almost $1.8 trillion by 2050, for unplanned urbanisation: Study appeared first on Housing News.

- Wednesday, November 30, 2016

Residents to participate in Gurugram’s development plans

With a view to ensure the active participation of the local residents in the development of Gurugram, a ‘Residents Advisory Council’ would be constituted, the government has said. The council will advise on issues … READ FULL STORY The post Residents to participate in Gurugram’s development plans appeared first on Housing News.

- Thursday, November 24, 2016

Rules under Real Estate Act framed for Delhi

The Urban Development Ministry, on November 23, 2016, finalised the rules under the Real Estate Act for Delhi, which provides for a regulatory authority to undertake third-party quality audit of real estate projects, to … READ FULL STORY The post Rules under Real Estate Act framed for Delhi appeared first on Housing News.

- Thursday, November 24, 2016

Madras HC pulls up authorities for not revising property tax

The Madras High Court has pulled up authorities, for not revising property tax every four years from 1998. If the revision of property tax was carried out according to the rules, the revision would … READ FULL STORY The post Madras HC pulls up authorities for not revising property tax appeared first on Housing News.

- Thursday, November 24, 2016

DDA approves development of 20 metro stations

Development of 20 metro stations and its surrounding areas under the multi-modal integration (MMI) project to facilitate last-mile connectivity for metro users, as well as several important road infrastructure projects for the national capital, … READ FULL STORY The post DDA approves development of 20 metro stations appeared first on Housing News.

- Wednesday, November 23, 2016

Madras HC steps in again to safeguard Chennai’s marshland

The Madras High Court, on November 22, 2016, directed the Inspector General of Registration of Chennai zone, to issue orders to all jurisdictional registrars, not to register any document related to Pallikaranai marshlands in … READ FULL STORY The post Madras HC steps in again to safeguard Chennai’s marshland appeared first on Housing News.

- Wednesday, November 23, 2016

National Pension subscribers may get housing loans at affordable rates

To provide housing finance options to National Pension System (NPS) subscribers, the pension fund regulator has set up a committee to look into the proposal, a senior executive announced. “We are looking at possibility … READ FULL STORY The post National Pension subscribers may get housing loans at affordable rates appeared first on Housing News.

- Wednesday, November 23, 2016

Piramal Fund to expand portfolio in commercial realty segment

Piramal Group’s financial services arm, Piramal Fund Management (PFM), plans to expand its portfolio in the commercial segment, by offering flexi lease rental discounting (LRD) for completed commercial assets and is targeting a book … READ FULL STORY The post Piramal Fund to expand portfolio in commercial realty segment appeared first on Housing News.

- Tuesday, November 22, 2016

Borrowers get additional 60 days to repay loans: RBI

In view of the cash crunch being faced by borrowers, the Reserve Bank of India (RBI), on November 21, 2016, provided an additional 60 days, for the repayment of housing, car, farm and other … READ FULL STORY The post Borrowers get additional 60 days to repay loans: RBI appeared first on Housing News.

- Tuesday, November 22, 2016

Demonetisation: Urban local bodies in Maharashtra collect over Rs 1,000 crores

The collection of taxes and arrears by urban local bodies from citizens, in the form of demonetised currency notes, crossed the Rs 1,000-crore mark, on November 21, 2016. The time for accepting demonetised notes … READ FULL STORY The post Demonetisation: Urban local bodies in Maharashtra collect over Rs 1,000 crores appeared first on Housing News.

- Monday, November 21, 2016

Bengaluru, Mumbai real estate on global fund managers’ radar

This year’s Investment Prospects survey, has revealed a strong shift towards emerging market destinations, with two Indian cities Bengaluru and Mumbai topping a list that also includes Vietnam, the Philippines and Shenzhen (in China), … READ FULL STORY The post Bengaluru, Mumbai real estate on global fund managers’ radar appeared first on Housing News.

- Monday, November 21, 2016

Demonetisation: Hyderabad tops in municipal tax collections among 22 cities

An analysis of data from the Ministry of Urban Development, for 22 corporations across the country, revealed that there was 312.04% increase in revenues in November 2016 (till 19th November), over the receipts they … READ FULL STORY The post Demonetisation: Hyderabad tops in municipal tax collections among 22 cities appeared first on Housing News.

- Monday, November 21, 2016

Demonetisation to impact real estate market till March 2017: Hiranandani

Commenting on reports of a likely huge slide in prices of property in the coming months, due to the anti-black money drive of the union government, Niranjan Hiranandani, managing director of the Hiranandani Group … READ FULL STORY The post Demonetisation to impact real estate market till March 2017: Hiranandani appeared first on Housing News.

- Monday, November 21, 2016

SC stays Unitech home buyers’ meetings on compromise scheme

The Supreme Court, on November 18, 2016, stayed all the upcoming meetings of home buyers of Unitech Ltd, for giving their approval or disapproval to a proposed compromise scheme forwarded by the company, to … READ FULL STORY The post SC stays Unitech home buyers’ meetings on compromise scheme appeared first on Housing News.

- Monday, November 21, 2016

Demonetisation effect: Maharashtra stamp duty collection drops 37%

The union government’s recent decision to demonetise Rs 500 and Rs 1,000 notes, has hit stamp duty collection in Maharashtra, which is already down by 37% across the state, the Inspector General of Registration … READ FULL STORY The post Demonetisation effect: Maharashtra stamp duty collection drops 37% appeared first on Housing News.

- Friday, November 18, 2016

Builders to pay for air pollution: NGT

The National Green Tribunal (NGT), on November 17, 2016, clarified that whenever work is halted due to air pollution caused by construction activity in the national capital, it is the builder who has to … READ FULL STORY The post Builders to pay for air pollution: NGT appeared first on Housing News.

- Friday, November 18, 2016

Chinese firm proposes industrial township at Sohna

China Fortune Land Development (CFLD), on November 17, 2016, submitted a proposal to the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC), for joint development of an integrated industrial model township (IMT) at Sohna, … READ FULL STORY The post Chinese firm proposes industrial township at Sohna appeared first on Housing News.

- Tuesday, November 15, 2016

Will the demonetisation attract foreign investments into Indian real estate?

The demonetisation of Rs 500 and Rs 1,000 notes, is likely to result in an immediate reduction in cash transactions, in the real estate sector. Buyers are expected to shift towards more legitimate transactions, … READ FULL STORY The post Will the demonetisation attract foreign investments into Indian real estate? appeared first on Housing News.

- Tuesday, November 15, 2016

Demonetisation: 3 Delhi civic bodies fetch Rs 7 crores in property tax

The three corporations of south Delhi, east Delhi and north Delhi, are accepting property tax dues and conversion charges in demonetised notes, resulting in a rush of property owners in November, which is normally … READ FULL STORY The post Demonetisation: 3 Delhi civic bodies fetch Rs 7 crores in property tax appeared first on Housing News.

- Tuesday, November 15, 2016

TVS Emerald to develop 2.5 million sq ft residential spaces near Chennai

Emerald Haven Realty Ltd, the real estate division of TVS Group, is aiming to develop houses with a total area of 2.50 million sq ft over the next three years, a top official of … READ FULL STORY The post TVS Emerald to develop 2.5 million sq ft residential spaces near Chennai appeared first on Housing News.

- Thursday, November 10, 2016

Maharashtra, Canada join hands for affordable housing, infrastructure

The Maharashtra government, on November 9, 2016, signed an agreement with Canada, to implement a joint action plan on urban infrastructure development in the state. The Canada-Maharashtra action plan seeks to introduce companies, solutions … READ FULL STORY The post Maharashtra, Canada join hands for affordable housing, infrastructure appeared first on Housing News.

- Wednesday, November 09, 2016

Flat given by Parsvnath is uninhabitable, says minister of state Rathore

The Supreme Court, on November 9, 2016, appointed a two-member lawyers’ panel, to inspect the facilities at the flat of minister of state Rajyavardhan Singh Rathore in Parsvnath Developers’ Exotica project in Gurgaon, after … READ FULL STORY The post Flat given by Parsvnath is uninhabitable, says minister of state Rathore appeared first on Housing News.

- Monday, November 07, 2016

Bengal may unveil renewable energy regulations in a fortnight

The West Bengal Electricity Regulatory Commission (WBERC), may unveil renewable energy regulations in a fortnight, paving the way for households and housing complexes to install solar rooftop panels and connect them to the grid. … READ FULL STORY The post Bengal may unveil renewable energy regulations in a fortnight appeared first on Housing News.

- Monday, November 07, 2016

Over 300 construction sites in Delhi penalised for dust pollution

Over 300 construction sites were penalised for violating dust pollution norms in Delhi, although the drive against open burning of waste did not gather as much steam. Analysis of data shared by the Delhi … READ FULL STORY The post Over 300 construction sites in Delhi penalised for dust pollution appeared first on Housing News.

- Friday, November 04, 2016

PE investment in RE increases 22 pc y-o-y, in Jan-Sept 2016: Report

Private equity investment in the real estate sector, has grown 22 per cent during January-September this year, to Rs 28,300 crores, from Rs 23,200 crores a year ago, reflecting improved confidence among investors to … READ FULL STORY The post PE investment in RE increases 22 pc y-o-y, in Jan-Sept 2016: Report appeared first on Housing News.

- Thursday, November 03, 2016

Haryana scraps absolute discretion of CM, in colony licensing

To bring transparency in Haryana’s booming real estate sector, which is plagued by charges of corruption, chief minister Manohar Lal Khattar has scrapped a decades old policy, which allowed the state’s CMs, absolute discretion … READ FULL STORY The post Haryana scraps absolute discretion of CM, in colony licensing appeared first on Housing News.

- Thursday, November 03, 2016

Governor’s intervention sought to stop east coast, salt pan development in Mumbai

The Shiv Sena’s youth wing chief, Aaditya Thackeray, met Maharashtra governor C Vidyasagar Rao on November 2, 2016 and sought his intervention, to stop the centre from monetising the eastern coast of the city, … READ FULL STORY The post Governor’s intervention sought to stop east coast, salt pan development in Mumbai appeared first on Housing News.

- Thursday, November 03, 2016

Make Connaught Place and Khan Market into ‘no vehicle zones’: Naidu to NDMC

While reviewing the implementation of smart city plans in the New Delhi Municipal Council (NDMC) area, union urban development minister, M Venkaiah Naidu, on November 2, 2016, asked the NDMC to convert Connaught Place … READ FULL STORY The post Make Connaught Place and Khan Market into ‘no vehicle zones’: Naidu to NDMC appeared first on Housing News.

- Wednesday, November 02, 2016

SBI further reduces home loan rates, ICICI offers overdraft

The country’s largest lender, State Bank of India (SBI), has announced a further reduction in interest rates by 0.15% for its home loans up to Rs 75 lakhs, while ICICI Bank has unveiled an … READ FULL STORY The post SBI further reduces home loan rates, ICICI offers overdraft appeared first on Housing News.

- Wednesday, November 02, 2016

Land records of Delhi’s villages go online

A senior officer of the Revenue Department, said that the land records of all villages of Delhi, except for villages in the north district, have been digitised and digitally signed from November 1, 2016. … READ FULL STORY The post Land records of Delhi’s villages go online appeared first on Housing News.

- Wednesday, November 02, 2016

HC issues contempt notice to Chennai Development Authority over regularisation of unauthorised buildings

The Madras High Court on November 1, 2016, issued a contempt notice to the member secretary, Chennai Metropolitan Development Authority (CMDA), asking why action should not be taken against the body for disobeying its … READ FULL STORY The post HC issues contempt notice to Chennai Development Authority over regularisation of unauthorised buildings appeared first on Housing News.

- Tuesday, November 01, 2016

Maharashtra government to remove 1,000 illegal houses on mangrove land

The ‘Mangrove Cell’ of the Maharashtra government, will remove around 1,000 houses in the first week of November, 2016, for encroaching notified mangrove areas in the city. “The demolition drive is going to start … READ FULL STORY The post Maharashtra government to remove 1,000 illegal houses on mangrove land appeared first on Housing News.

- Monday, October 31, 2016

9.6 million sq ft Grade A office space absorbed in Q3: Colliers report

Nearly 9.6 million sq ft of Grade A office space was absorbed, during the July-September quarter of this year, according to a report by property consultant Colliers International. As per the survey, southern cities … READ FULL STORY The post 9.6 million sq ft Grade A office space absorbed in Q3: Colliers report appeared first on Housing News.

- Monday, October 31, 2016

SBI, ICICI Bank cut home loan rates

Private sector lender ICICI Bank announced a cut of 0.10% in its marginal cost of funds based lending rate (MCLR) across tenors. This was followed by a similar move by the country’s largest lender, … READ FULL STORY The post SBI, ICICI Bank cut home loan rates appeared first on Housing News.

- Monday, October 31, 2016

Benami Property Act to be effective from November 1, 2016

A new law to prohibit benami transactions, which provides for up to seven years’ imprisonment and fine, for those indulging in such activities, will come into effect from November 1. With a view to … READ FULL STORY The post Benami Property Act to be effective from November 1, 2016 appeared first on Housing News.

- Wednesday, October 26, 2016

HDFC PE fund exits Lodha’s World Tower project for Rs 1,500 crores

Mumbai-based real estate developer Lodha Group, on October 26, 2016, announced that private equity player HDFC Property Fund, has exited its stake in the developer’s World Towers project in south Mumbai, for Rs 1,500 … READ FULL STORY The post HDFC PE fund exits Lodha’s World Tower project for Rs 1,500 crores appeared first on Housing News.

- Wednesday, October 26, 2016

Yamuna riverfront project to finally take off in November 2016

The Yamuna riverfront development project is set to come out of cold storage, with Delhi chief minister Arvind Kejriwal slated to launch the ‘concrete-free’ project’s first phase on November 1, 2016. A five-kilometre-long stretch … READ FULL STORY The post Yamuna riverfront project to finally take off in November 2016 appeared first on Housing News.

- Wednesday, October 26, 2016

JW Marriott debuts in Kolkata with luxury property

US-based hospitality chain JW Marriott, on October 25, 2016, threw open the doors of its luxury property in Kolkata – the first in the eastern region. The property, built jointly by real estate developers, … READ FULL STORY The post JW Marriott debuts in Kolkata with luxury property appeared first on Housing News.

- Friday, October 21, 2016

Give flat to union minister Rathore in two days: SC to Parsvnath

The Supreme Court, on October 21, 2016, directed Parsvnath Developers to hand over possession of a flat in its Gurgaon project, to minister of state for information and broadcasting, Rajyavardhan Singh Rathore, in two … READ FULL STORY The post Give flat to union minister Rathore in two days: SC to Parsvnath appeared first on Housing News.

- Thursday, October 20, 2016

SC orders Unitech to refund Rs 15 crores, to buyers of Unitech Vista project

The Supreme Court, on October 19, 2016, directed Unitech Resorts Ltd to refund Rs 15 crores to 39 home buyers in its Gurgaon project, saying a property developer must respect the contractual commitment and … READ FULL STORY The post SC orders Unitech to refund Rs 15 crores, to buyers of Unitech Vista project appeared first on Housing News.

- Thursday, October 20, 2016

MMRDA clears Mumbai Metro’s Line 5 and Line 6

Ahead of the Brihanmumbai Municipal Corporation (BMC) polls early in 2017, regional planning body Mumbai Metropolitan Region Development Authority (MMRDA), on October 19, 2016, cleared two metro projects – the Thane-Bhiwandi-Kalyan Metro (Line 5) … READ FULL STORY The post MMRDA clears Mumbai Metro’s Line 5 and Line 6 appeared first on Housing News.

- Tuesday, October 18, 2016

Home buyer satisfaction index at all-time low: Survey

A majority of Indians across the country are extremely apprehensive with the property market and feel that in spite of the slowdown, the industry’s practices have not changed. On a scale of 0-1,000, the … READ FULL STORY The post Home buyer satisfaction index at all-time low: Survey appeared first on Housing News.

- Monday, October 17, 2016

Mumbai office rental values to increase: JLL

Compared to Q2 2015, when Mumbai’s rental values had bottomed out, the city will now start to see acceleration in its rental value growth from Q2 2016, says a report titled Global Real Estate … READ FULL STORY The post Mumbai office rental values to increase: JLL appeared first on Housing News.

- Friday, October 14, 2016

India needs USD 1 trillion for housing, infra projects: Report

India will require investments of USD 1 trillion over the next five to seven years, to meet the demand from the infrastructure and housing sectors, with banks, private equity and NBFCs likely to be … READ FULL STORY The post India needs USD 1 trillion for housing, infra projects: Report appeared first on Housing News.

- Friday, October 14, 2016

Proposed Purandar airport in Pune runs into opposition from farmers

Hundreds of farmers from at least seven villages in Purandar tehsil in Pune district, where a greenfield international airport is proposed to be set up, staged a protest, claiming that the project will hit … READ FULL STORY The post Proposed Purandar airport in Pune runs into opposition from farmers appeared first on Housing News.

- Friday, October 14, 2016

Hyderabad Metro to undertake road restoration, to prevent waterlogging

According to a release from Hyderabad Metro Rail Ltd (HMRL), tenders have been floated for road restoration work, in various stretches that were badly damaged due to the recent heavy rains in the city. … READ FULL STORY The post Hyderabad Metro to undertake road restoration, to prevent waterlogging appeared first on Housing News.

- Thursday, October 13, 2016

Green panel approves phase-2 of Chennai airport modernisation

The Airports Authority of India (AAI) has received the centre’s approval for preparing the environmental impact study and has been asked to conduct a public hearing, for its proposed Rs 2,587-crore second phase of … READ FULL STORY The post Green panel approves phase-2 of Chennai airport modernisation appeared first on Housing News.

- Friday, October 07, 2016

Brookfield to acquire Hiranandani offices, retail space for Rs 6,700 crores

Global private equity firm Brookfield Asset Management, has signed an agreement with the Hiranandani Group to acquire its offices and retail space in Powai in Mumbai, for a whopping Rs 6,700 crores. Confirming the … READ FULL STORY The post Brookfield to acquire Hiranandani offices, retail space for Rs 6,700 crores appeared first on Housing News.

- Friday, October 07, 2016

SPV to be set up for Thane smart city project

A special purpose vehicle (SPV) will be set up soon by the government, to facilitate Thane’s transition into a smart city, stated Thane’s municipal commissioner, Sanjeev Jaiswal. Thane was in the list of cities … READ FULL STORY The post SPV to be set up for Thane smart city project appeared first on Housing News.

- Friday, October 07, 2016

Pune international airport to come up at Purandar

The Maharashtra government, on October 6, 2016, gave a go-ahead for carrying out a detailed project report (DPR) for the greenfield international airport, which will come in Purandar tehsil of Pune district. The proposed … READ FULL STORY The post Pune international airport to come up at Purandar appeared first on Housing News.

- Thursday, October 06, 2016

Maharashtra tops in green building footprint

India’s registered green building footprint, has risen to 3.86 billion sq ft, the second best globally after the United States, according to a statement by the Indian Green Building Council (IGBC). Data on state-wise … READ FULL STORY The post Maharashtra tops in green building footprint appeared first on Housing News.

- Thursday, October 06, 2016

NCR’s Eastern Peripheral Expressway to be completed in 400 days

The Rs 5,763-crore Eastern Peripheral Expressway project to decongest Delhi, is on a fast-track to completion in about 400 days, to become India’s first 135-km green road to be lit entirely by solar panels … READ FULL STORY The post NCR’s Eastern Peripheral Expressway to be completed in 400 days appeared first on Housing News.

- Thursday, October 06, 2016

Delhi’s East Kidwai Nagar redevelopment is an urban role model: Naidu

Describing Delhi’s East Kidwai Nagar project as a role model for redevelopment, Union Minister M Venkaiah Naidu, has said that the Rs 5,298-crore project should be replicated at other places, for development of cities. … READ FULL STORY The post Delhi’s East Kidwai Nagar redevelopment is an urban role model: Naidu appeared first on Housing News.

- Thursday, October 06, 2016

Loan against property to see greater delinquencies: Ind-Ra

Rating agency, India Ratings and Research, has warned that signs of early stress are clearly visible in the loan against property (LAP) business, indicated by a sharp rise in 90 days past due (dpd) … READ FULL STORY The post Loan against property to see greater delinquencies: Ind-Ra appeared first on Housing News.

- Wednesday, October 05, 2016

Home loans to get cheaper, as banks promise to pass on RBI rate cut

The six-member Monetary Policy Committee (MPC), headed by Reserve Bank of India (RBI) Governor Urjit Patel, on October 4, 2016, unanimously voted to reduce the repo rate or the short-term rate at which the … READ FULL STORY The post Home loans to get cheaper, as banks promise to pass on RBI rate cut appeared first on Housing News.

- Monday, October 03, 2016

Pledging PF to buy low-cost homes to be reality next fiscal

The Employees’ Provident Fund Organisation (EPFO), has revealed that it is working on a housing scheme, which will enable its subscribers to pledge their PF accumulations to buy homes and pay home loan EMIs … READ FULL STORY The post Pledging PF to buy low-cost homes to be reality next fiscal appeared first on Housing News.

- Monday, October 03, 2016

Delhi Metro plans more coaches, increased frequency

Delhi Metro has set an ambitious target, under which the frequency of its trains will go up significantly, ensuring a waiting period of not more than three minutes between trains, for commuters in almost … READ FULL STORY The post Delhi Metro plans more coaches, increased frequency appeared first on Housing News.

- Monday, October 03, 2016

DDA to skip environment clause in building bye-laws

Although it has already notified the unified building bye-laws, the Delhi Development Authority (DDA) has informed a bench headed by the National Green Tribunal (NGT) chairperson, justice Swatanter Kumar that it will not implement … READ FULL STORY The post DDA to skip environment clause in building bye-laws appeared first on Housing News.

- Monday, October 03, 2016

Delhi police to register FIRs for property defacement

The Delhi police has said that its legal cell has issued a memo, indicating that FIRs will be registered under the Delhi Prevention of Defacement of Property Act, in case of defacement of property. … READ FULL STORY The post Delhi police to register FIRs for property defacement appeared first on Housing News.

- Friday, September 30, 2016

Kolkata Metro Rail to be expanded by 14 kms, by 2018

The general manager of Metro Railway Kolkata, MC Chauhan, said that they have planned to augment the network by 14 kms, within the next one-and-a-half years. The probable sections will be Kavi Subhash (New … READ FULL STORY The post Kolkata Metro Rail to be expanded by 14 kms, by 2018 appeared first on Housing News.

- Friday, September 30, 2016

InvITs may help unlock USD 5-7 billion

According to a report by FICCI-Centrum, in the next couple of years, infrastructure investment trusts (InvITs) are slated to pick up and have the potential of unlocking USD 5-7 billion from assets, primarily in … READ FULL STORY The post InvITs may help unlock USD 5-7 billion appeared first on Housing News.

- Thursday, September 29, 2016

Kolkata may get new law to solve building collapse problem

The Kolkata Municipal Corporation (KMC), on September 28, 2016, set up a committee to enact a law to deal with the city’s old and dilapidated houses that pose danger to people. The panel, headed … READ FULL STORY The post Kolkata may get new law to solve building collapse problem appeared first on Housing News.

- Thursday, September 22, 2016

Chennai Metro from Airport to Little Mount inaugurated

Tamil Nadu chief minister J Jayalalithaa, on September 21, 2016, inaugurated the services on the second elevated corridor of the Chennai Metro Rail Project (CMRP). The second elevated corridor covers a distance of 8.6 … READ FULL STORY The post Chennai Metro from Airport to Little Mount inaugurated appeared first on Housing News.

- Wednesday, September 21, 2016

95% households in India vulnerable to earthquakes

According to a report, ‘Earthquake hazard zoning maps’, by the Building Materials Technology Promotion Council (BMPTC), as many as 95% households in the country are vulnerable to earthquakes. The BMPTC is a government-sponsored body, … READ FULL STORY The post 95% households in India vulnerable to earthquakes appeared first on Housing News.

- Tuesday, September 20, 2016

BDD chawl redevelopment to focus on MIG segment

Maharashtra chief secretary Swadheen Kshatriya, has said that the high-powered committee headed by him, has cleared the redevelopment proposals of the Bombay Development Directorate (BDD) chawls, at Naigaon and at NM Joshi Marg in … READ FULL STORY The post BDD chawl redevelopment to focus on MIG segment appeared first on Housing News.

- Tuesday, September 20, 2016

Office rent remains stable in Delhi-NCR during Jan-June: JLL

Gross rentals in the Delhi-NCR market remained static in the first half of 2016, compared to the same period of 2015. “At Rs 77 per sq ft per month (on a stock-weighted basis), the … READ FULL STORY The post Office rent remains stable in Delhi-NCR during Jan-June: JLL appeared first on Housing News.

- Monday, September 19, 2016

SC stays environment clearance requirement for Railway, metro rail projects

The Supreme Court (SC) has stayed an order of the National Green Tribunal (NGT), directing the Indian Railways and metro rail projects, to seek prior environmental clearances (ECs). “The order of the National Green … READ FULL STORY The post SC stays environment clearance requirement for Railway, metro rail projects appeared first on Housing News.

- Monday, September 19, 2016

Kalyan, Bhiwandi and Thane Metro rail projects to be approved soon

Maharashtra chief minister Devendra Fadnavis, has said that detailed project reports (DPRs) for metro rails in Kalyan, Bhiwandi and Thane, were ready and they would be approved soon. He made the announcement after performing … READ FULL STORY The post Kalyan, Bhiwandi and Thane Metro rail projects to be approved soon appeared first on Housing News.

- Monday, September 19, 2016

Maharashtra to have development plans for every district: CM

Maharashtra chief minister Devendra Fadnavis, has announced that by 2017, every district in the state would have a ‘regional development plan’. “We are in the process of finalising the development plan for Pune and … READ FULL STORY The post Maharashtra to have development plans for every district: CM appeared first on Housing News.

- Monday, September 19, 2016

68% of Hyderabad Metro Rail work completed

Works on 68% of the 72-km elevated Hyderabad Metro Rail (HMR) project has been completed, while two sections have got safety certification from the Commissioner of Metro Rail Safety (CMRS), HMR managing director NVS … READ FULL STORY The post 68% of Hyderabad Metro Rail work completed appeared first on Housing News.

- Thursday, September 15, 2016

Trump’s real estate investments in India could impact US foreign policy

In its cover story on Trump’s investments in properties overseas, the popular Newsweek noted that as the Republican National Convention was about to get underway in July, the Trump Organisation declared it was planning … READ FULL STORY The post Trump’s real estate investments in India could impact US foreign policy appeared first on Housing News.

- Monday, September 12, 2016

New highway for Delhi-Jaipur, part of Delhi-NCR connectivity measures

Union minister for road transport, Nitin Gadkari, announced that a new access control highway would be constructed between Delhi and Jaipur, which would reduce the travel time between the cities to just two hours. … READ FULL STORY The post New highway for Delhi-Jaipur, part of Delhi-NCR connectivity measures appeared first on Housing News.

- Monday, September 12, 2016

Three companies get SEBI nod to launch InvITs

The markets watchdog, the Securities and Exchange Board of India (SEBI), has finally granted approval to three companies – IRB Infrastructure, GMR and MEP Infrastructure – to launch infrastructure investment trusts (InvITs). Accordingly, these … READ FULL STORY The post Three companies get SEBI nod to launch InvITs appeared first on Housing News.

- Monday, September 12, 2016

No registration of sale deed in unauthorised layouts: Madras HC

Seeking to prevent further development of unauthorised layouts and conversion of agricultural areas for non-agriculture use in an unplanned way, the Madras High Court has restrained authorities in Tamil Nadu from registering sale deeds … READ FULL STORY The post No registration of sale deed in unauthorised layouts: Madras HC appeared first on Housing News.

- Friday, September 02, 2016

RBI directs CICs to give credit score free report to individuals

The Reserve Bank of India (RBI) has directed credit information companies (CICs), to provide one free full credit report, including score, once in a year to individuals whose credit history is available with them. … READ FULL STORY The post RBI directs CICs to give credit score free report to individuals appeared first on Housing News.

- Friday, September 02, 2016

112 buildings near Mumbai airports violate norms: DGCA

The Directorate General of Civil Aviation (DGCA) has informed the Bombay High Court that 112 buildings within a four km radius of the domestic and international airports in Mumbai, have come up in violation … READ FULL STORY The post 112 buildings near Mumbai airports violate norms: DGCA appeared first on Housing News.

- Thursday, September 01, 2016

TN to allow home buyers to prepare registration papers themselves

Tamil Nadu chief minister J Jayalalithaa, announced in the assembly that the entire procedure related to registration of documents in the Registration Department, will be fully computerised. A software developed for the purpose, which … READ FULL STORY The post TN to allow home buyers to prepare registration papers themselves appeared first on Housing News.

- Wednesday, August 31, 2016

Cabinet announces measures to revive construction sector

In an effort to revive the construction sector in the country, the cabinet chaired by prime minister Narendra Modi, has allowed contractors to move to a new, speedier arbitration process, approved the release of … READ FULL STORY The post Cabinet announces measures to revive construction sector appeared first on Housing News.

- Friday, August 26, 2016

Facing financial issues but will give flats: Parsvnath to SC

Parsvnath Developers Limited has told the Supreme Court that they were in a serious ‘financial difficulty’, as they have suffered losses of around Rs 400 crore last year but they would hand over possession … READ FULL STORY The post Facing financial issues but will give flats: Parsvnath to SC appeared first on Housing News.

- Friday, August 26, 2016

DDA Housing Scheme 2016 likely to be launched around Diwali

The Delhi Development Authority’s (DDA’s) Housing Scheme 2016, with 12,000 flats on offer, is likely to be launched around Diwali, in what could be a festive bonanza for home buyers. Out of the total … READ FULL STORY The post DDA Housing Scheme 2016 likely to be launched around Diwali appeared first on Housing News.

- Wednesday, August 24, 2016

Maharashtra to get 10 new airports

The Maharashtra government has signed an agreement with the Civil Aviation Ministry and the Airports Authority of India, for developing 10 airports in the state under the centre’s regional connectivity scheme (RCS). RCS, which … READ FULL STORY The post Maharashtra to get 10 new airports appeared first on Housing News.

- Tuesday, August 23, 2016

Delhi to get six world-class socio-cultural centres, courtesy the DDA

The Delhi Development Authority (DDA) has announced that it plans to build six socio-cultural centres in the city, on the lines of international facilities like the Sydney Opera House and John F Kennedy Centre … READ FULL STORY The post Delhi to get six world-class socio-cultural centres, courtesy the DDA appeared first on Housing News.

- Friday, August 19, 2016

Affordable housing segment nearly doubles in H1 2016

According to a study by Cushman & Wakefield, the top eight cities including Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai and Pune, recorded new launches of 61,847 units during January-June 2016, out of … READ FULL STORY The post Affordable housing segment nearly doubles in H1 2016 appeared first on Housing News.

- Wednesday, August 17, 2016

SC orders Unitech to deposit Rs 15 crores, for failure to give possession

Embattled real estate firm Unitech Ltd has been directed by the Supreme Court, to deposit Rs 15 crores principal amount by September-end, to pay back investors who had bought flats in its Gurgaon project … READ FULL STORY The post SC orders Unitech to deposit Rs 15 crores, for failure to give possession appeared first on Housing News.

- Friday, August 12, 2016

DDA to create SPV to boost green parks and nature reserves in Delhi

The Delhi Development Authority (DDA) has decided to create a special purpose vehicle (SPV), for operation and maintenance of its green projects including those related to parks, nature reserves and eco-friendly corridors, so as … READ FULL STORY The post DDA to create SPV to boost green parks and nature reserves in Delhi appeared first on Housing News.

- Tuesday, August 09, 2016

Trial run on Delhi Metro’s ‘Heritage Line’ to begin on August 10

Ending months of delay, the Delhi Metro will begin trial run on the upcoming ‘Heritage Line’, between Delhi Gate and Kashmere Gate stations on August 10, 2016, while aiming to throw it open for … READ FULL STORY The post Trial run on Delhi Metro’s ‘Heritage Line’ to begin on August 10 appeared first on Housing News.

- Tuesday, August 09, 2016

Hyderabad airport may get its own underground rail link

The Railways will explore the possibility of providing train connectivity to Hyderabad’s Rajiv Gandhi International Airport at Shamshabad from Umdanagar, through an underground network. Announcing this, railway minister Suresh Prabhu said that the feasibility … READ FULL STORY The post Hyderabad airport may get its own underground rail link appeared first on Housing News.

- Monday, August 08, 2016

Proposals invited for planning infra development in Gurgaon

The Gurgaon Municipal Corporation has said that it has invited proposals for the empanelment of consultants, for the planning and designing of infrastructure development like roads, water supply, storm water drainage, streetlight electrification and … READ FULL STORY The post Proposals invited for planning infra development in Gurgaon appeared first on Housing News.

- Monday, August 08, 2016

Cases to be filed against erring builders: Maharashtra CM

The Maharashtra government, which has decided to regularise unauthorised constructions till December 2015 on a mass scale in urban belts, has said that criminal cases will be filed against builders responsible for illegalities. Chief … READ FULL STORY The post Cases to be filed against erring builders: Maharashtra CM appeared first on Housing News.

- Monday, August 08, 2016

24,000 residential units launched during Apr-Jun: Study

According to a report by Colliers International India, Q2 2016 witnessed the residential sector on the cusp of a recovery, as the top six cities – Bengaluru, Pune, Mumbai, Gurgaon, Noida and Chennai – … READ FULL STORY The post 24,000 residential units launched during Apr-Jun: Study appeared first on Housing News.

- Friday, August 05, 2016

Maharashtra government to probe massive land lease scam in Mumbai

The Maharashtra government will probe a ‘massive land lease scam’ in Mumbai, revenue minister Chandrakant Patil informed the state assembly. Replying to a query by Shiv Sena MLA Sunil Prabhu in the lower house, … READ FULL STORY The post Maharashtra government to probe massive land lease scam in Mumbai appeared first on Housing News.

- Friday, August 05, 2016

Hyderabad Metro: Safety trials on Miyapur-SR Nagar stretch soon

The safety certification trials of the 12-km Miyapur-SR Nagar stretch of Hyderabad Metro Rail (HMR) project will be conducted soon, a top official said. “We have completed 58 kms of the metro’s foundations, 56 … READ FULL STORY The post Hyderabad Metro: Safety trials on Miyapur-SR Nagar stretch soon appeared first on Housing News.

- Thursday, August 04, 2016

GST: How will it impact home buyers

At a financial planning seminar in Delhi, a home buyer had a pertinent question: “Although GST may help the builders to avoid double or triple taxation and reduce their cost of construction and operation, … READ FULL STORY The post GST: How will it impact home buyers appeared first on Housing News.

- Wednesday, August 03, 2016

Implications of the GST Bill on real estate

The Goods and Services Tax (GST), is a comprehensive indirect tax on the sale, manufacture and consumption of different kinds of goods and services throughout India, with all other central and state taxes intended … READ FULL STORY The post Implications of the GST Bill on real estate appeared first on Housing News.

- Tuesday, August 02, 2016

Bhartiya Group and The Leela launch luxury residences in Bengaluru

The Bhartiya Group Bengaluru and The Leela, on August 2, 2016, announced the launch of Leela Residences, branded luxury houses. This collaboration makes Leela, the first Indian hospitality group to launch branded luxury residences, … READ FULL STORY The post Bhartiya Group and The Leela launch luxury residences in Bengaluru appeared first on Housing News.

- Monday, August 01, 2016

Should you buy property, in a city you don’t live in?

The tendency of most property investors in India, is to focus on the cities that they actually live in. This is because they are already familiar with the locations that have highest demand and … READ FULL STORY The post Should you buy property, in a city you don’t live in? appeared first on Housing News.

- Monday, August 01, 2016

Maharashtra to regularise unauthorised constructions up to Dec 2015

The Maharashtra government said that it has decided to regularise unauthorised constructions till December 2015, on a mass scale in the state’s urban belts. Minister of state for urban development, Ranjit Patil, informed the … READ FULL STORY The post Maharashtra to regularise unauthorised constructions up to Dec 2015 appeared first on Housing News.

- Friday, July 29, 2016

Chennai Metro may start Airport-Alandur services by August end

Extension of Chennai’s metro rail services on the Airport-Alandur sector, may get underway by the end of August, as the commissioner (railway safety), Sudarshan Naik, on July 28, 2016, said that he was satisfied … READ FULL STORY The post Chennai Metro may start Airport-Alandur services by August end appeared first on Housing News.

- Thursday, July 28, 2016

‘Better infrastructure can solve India’s urban housing shortage’

Noting that factors, such as road infrastructure and inflation seem to be closely linked to residential price movements, a report titled ‘Indian Real Estate: Comprehending the varying speeds of growth’ by JLL India and … READ FULL STORY The post ‘Better infrastructure can solve India’s urban housing shortage’ appeared first on Housing News.

- Thursday, July 28, 2016

Windfall for Maharashtra’s Bikdin area: DMIC Trust approves Rs 6,414 cr contracts

The Delhi Mumbai Industrial Corridor (DMIC) Trust has given its approval to start engineering, procurement and construction contracts worth Rs 6,414 crore for the Bidkin Industrial Area in Maharashtra, the DMIC said in a … READ FULL STORY The post Windfall for Maharashtra’s Bikdin area: DMIC Trust approves Rs 6,414 cr contracts appeared first on Housing News.

- Thursday, July 28, 2016

60% Indians to live in cities by 2050

About 60% of the population of the country will live in cities by 2050, as India’s rate of urbanisation is ‘dramatic’, stated minister of state for urban development Rao Inderjit Singh. As per the … READ FULL STORY The post 60% Indians to live in cities by 2050 appeared first on Housing News.

- Thursday, July 28, 2016

Haryana allows additional FAR

The Haryana government, has approved the Haryana Building Code, 2016, which allows additional Floor Area Ratio (FAR) on payment of charges as approved by it, from time to time. A spokesman of the Haryana … READ FULL STORY The post Haryana allows additional FAR appeared first on Housing News.

- Tuesday, July 26, 2016

Work on Mumbai Metro-7 corridor to begin post monsoon

The Mumbai Metropolitan Region Development Authority (MMRDA) has said that it is confident of starting work on the Metro-7 corridor, from Andheri (E) to Dahisar (E), after the monsoons. “Metro corridors will be the … READ FULL STORY The post Work on Mumbai Metro-7 corridor to begin post monsoon appeared first on Housing News.

- Friday, July 22, 2016

SC asks centre to take possession and secure Adarsh apartments

The Supreme Court, on July 22, 2016, asked the centre to take possession and secure the 31-storeyed controversial Adarsh apartments in Mumbai and issued notices to various stakeholders, on pleas challenging the Bombay High … READ FULL STORY The post SC asks centre to take possession and secure Adarsh apartments appeared first on Housing News.

- Thursday, July 21, 2016

Over 40% allottees returned DDA flats: Government

Over 40% of the houses allotted by the Delhi Development Authority (DDA), under its Housing Scheme 2014, have been surrendered or cancelled with some allottees complaining about the size of the flats and locality, … READ FULL STORY The post Over 40% allottees returned DDA flats: Government appeared first on Housing News.

- Thursday, July 21, 2016

Chennai Metro underground stretch to begin by year-end

The Tamil Nadu government, on July 21, 2016, announced that the passenger services in the first underground stretch of Chennai Metro, will commence by the end of this year. The state’s finance minister, O … READ FULL STORY The post Chennai Metro underground stretch to begin by year-end appeared first on Housing News.

- Tuesday, July 19, 2016

Kolkata city to lower its carbon footprint

With the aim to make Kolkata a low-carbon city, companies from the United Kingdom specialising in urban design and planning, met West Bengal government and Kolkata Municipal Corporation (KMC) officials, for collaboration in the … READ FULL STORY The post Kolkata city to lower its carbon footprint appeared first on Housing News.

- Monday, July 18, 2016

Hyderabad ORR between Shamirpet and Ghatkesar inaugurated

Telangana’s municipal administration and urban development minister KT Rama Rao recently inaugurated two packages of the Hyderabad Outer Ring Road (ORR) between Shamirpet and Ghatkesar, being implemented through an ‘official development assistance’ from the … READ FULL STORY The post Hyderabad ORR between Shamirpet and Ghatkesar inaugurated appeared first on Housing News.

- Friday, July 15, 2016

Delhi government approves Phase 4 of metro rail to outer regions

The Delhi government has approved the fourth phase of the Delhi Metro, a mega project that will take the mass rapid transit to the outer areas of the national capital. After the completion of … READ FULL STORY The post Delhi government approves Phase 4 of metro rail to outer regions appeared first on Housing News.

- Thursday, July 14, 2016

Puravankara Group and Tata Projects to develop Hyderabad affordable luxury project

Provident Housing, a wholly-owned subsidiary of Puravankara Group, has partnered with Tata Projects, for construction of its 20-acre Kenworth housing project in Hyderabad. Ashish Puravankara, managing director, Puravankara Projects Ltd commented that “The overwhelming … READ FULL STORY The post Puravankara Group and Tata Projects to develop Hyderabad affordable luxury project appeared first on Housing News.

- Wednesday, July 13, 2016

Thane residents may soon get relief from traffic congestion

In a step to make the city free of congestion, Thane has come up with a citywide hybrid simulation model for managing vehicular traffic. Under the system, the entire traffic network of the city … READ FULL STORY The post Thane residents may soon get relief from traffic congestion appeared first on Housing News.

- Tuesday, July 12, 2016

Office space absorption up by 46% at over 10.2 million sq ft: CBRE

Office space absorption increased by 46%, to over 10.2 million sq ft in the second quarter of 2016 on improved demand from corporates, according to property consultant CBRE. The National Capital Region (Delhi, Gurgaon … READ FULL STORY The post Office space absorption up by 46% at over 10.2 million sq ft: CBRE appeared first on Housing News.

- Tuesday, July 12, 2016

Mumbai to become global financial hub: MMRDA gets three bids for master plan

Even as the Maharashtra and the central governments are yet to arrive at a consensus over handing over land for the proposed bullet train project, the Mumbai Metropolitan Region Development Authority (MMRDA) on July … READ FULL STORY The post Mumbai to become global financial hub: MMRDA gets three bids for master plan appeared first on Housing News.

- Tuesday, July 12, 2016

Maharashtra withdraws plea against ban on construction on wetlands

After the Bombay High Court pulled up the Maharashtra government for not identifying the wetlands in the state, the government on July 11, 2016, withdrew its plea seeking modification of a 2013 order banning … READ FULL STORY The post Maharashtra withdraws plea against ban on construction on wetlands appeared first on Housing News.

- Thursday, July 07, 2016

Mumbai-Nagpur Super Expressway to finally become a reality

The Maharashtra cabinet on July 5, 2016, gave its approval to acquire land for the proposed Mumbai-Nagpur Super Expressway under a pooling model, wherein farmers will get around 30% of the developed land elsewhere, … READ FULL STORY The post Mumbai-Nagpur Super Expressway to finally become a reality appeared first on Housing News.

- Monday, July 04, 2016

Property: The 1st choice among 7th Pay Commission beneficiaries

Property has emerged as the first choice for investment, among serving government employees, as well as those who have already retired, with close to half of the employees in 20 cities of India, preferring … READ FULL STORY The post Property: The 1st choice among 7th Pay Commission beneficiaries appeared first on Housing News.

- Monday, July 04, 2016

Will lower circle rates make homes cheaper?

When Anita Juneja bought an apartment in Delhi, in 2012, the cost of the apartment was Rs 2 crore and the circle rate was Rs 1.4 crore. This meant, that she could benefit by … READ FULL STORY The post Will lower circle rates make homes cheaper? appeared first on Housing News.