News Updates
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Big Property Projects must pay for Water Infrastructure Development
The Kolkata Municipal Corporation has announced that it will impose a charge for water infrastructure development on medium and large real estate projects in the city. This charge will be collected from developers and will be the first of its kind to be introduced by the civic body. The money generated will be used to improve water supply in areas where housing or commercial projects are being planned. The proposal to impose a water infrastructure development charge on mid and large real
Telangana RERA issues notices to builders for violations
The Real Estate Regulatory Authority (RERA) has taken strict action against real estate firms selling unregistered open plots and flats. Notices have been issued to several firms as a result. Neemsboro group, Excellence Properties, Prestige Group projects, Urban Yards, Happy Dream homes, Seven Hills, Kavuri Hills, Rivendell Farms, Sumadhura Infra Projects, and other companies have received notices from RERA chairman N Satyanarayana. These notices were issued due to their advertising of
West Bengal Govt Prohibits Night Demolition in Congested Areas
The department in charge of urban development and municipal affairs has released a set of 19 guidelines to ensure that proper precautions are taken during the demolition of buildings located in densely populated residential areas. In the past, developers have demolished buildings without taking any safety measures, which has resulted in air and noise pollution. According to the new regulations, it is prohibited to carry out any demolition work during nighttime, and it is mandatory to maintain
Builders Can't Get 3 yrs to Finish Stalled Projects: FPCE.
The Federation of Indian Chambers of Commerce and Industry (FICCI) has proposed that real estate developers should only receive concessions for legacy stalled housing projects, and that defaulting builders should not be granted a blanket three-year extension to complete such projects. Forum For People's Collective Efforts (FPCE) President Abhay Upadhyay has written a letter to Union Housing and Urban Affairs Minister Hardeep Singh Puri , expressing concerns on some of the recommendations made
Buyers Protest Delay in Odisha Housing Board Flats Handover
Homebuyers of Kharavela Enclave, an OSHB housing project in Khandagiri, protested on Monday at OSHB office Unit IV. They demand immediate unit handover. The homebuyers who protested said that they have already paid the full amount for their flats to the board but they still haven't received their units even though the deadline passed years ago. As many as 100 allottees demonstrated before the board's office on Monday. The board started the project in 2011 and set the deadline for
MahaRERA Mandates Real Estate Developers to Set Up Redressal Cells for Homebuyers' Issues
MahaRERA has mandated real estate developers to establish grievance redressal cells to address homebuyers' complaints. At least one grievance redressal officer is expected in these cells for developers' projects. Compliance with this provision will be a crucial evaluation criterion proposed by the regulatory authority. During the property purchase or registration process, homebuyers typically interact with the sales and marketing team. However, if issues arise later, they are often
Relief for Thika Tenancy Applicants in Kolkata
Thika tenancy is a unique system of land tenure in West Bengal, India, where tenants are granted the right to cultivate and occupy land owned by others. In Kolkata, the capital city of West Bengal, thousands of people have been waiting for years to get their Thika tenancy rights. However, their wait has finally come to an end as the government has recently announced a relief package for Thika tenancy applicants. Under the new relief package, Thika tenancy applicants who have been waiting for
MahaRERA Fines 90 Builders For Ads Without Registration Number
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has fined 90 builders for advertising their projects without a valid registration number. This move comes as part of the authority's ongoing efforts to regulate the real estate sector and protect homebuyers from fraudulent practices. Under the Real Estate (Regulation and Development) Act, 2016, all real estate projects must be registered with MahaRERA before they can be advertised or sold to the public. The registration number serves
China Property Shares Rise on Financial Support Policy
In a move to bolster the real estate sector, property shares in China experienced a significant surge after the announcement of a new financial support policy. The policy aims to provide much-needed assistance to the property market, which has been facing challenges in recent times. The Chinese government has recognized the importance of the real estate industry in driving economic growth and stability. With this in mind, they have implemented measures to stimulate investment and provide
Reasons to Buy a Property in BT Road Kolkata
BT Road, also known as Barrackpore Trunk Road, is a prime location in Kolkata that has been witnessing rapid growth in recent years. The area is well-connected to other parts of the city and offers a range of amenities that make it an attractive destination for property buyers. Here are some reasons why you should consider buying a property in BT Road, Kolkata. Excellent Connectivity BT Road is well-connected to other parts of the city through various modes of transportation. The area is
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