Maharashtra forms panel to examine TDR relief for properties facing redevelopment hurdles

Maharashtra government has formed a 12-member committee to re-survey river flood lines across the state, including Pune and Pimpri Chinchwad. The panel will review existing norms and suggest amendments to the UDCPR for TDR utilization on properties built before the 2009 flood line demarcation. This move aims to resolve redevelopment hurdles for numerous properties.

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Construction debris from 2,000 redevelopment projects in Mumbai ‘go missing’

A civic investigation revealed that construction debris from nearly 2,000 Mumbai redevelopment projects never reached designated disposal sites. Environmentalists suspect the waste was sold to the land mafia for encroaching on mangrove and wetland areas. The Brihanmumbai Municipal Corporation has now halted further construction permissions until developers contract with official recycling plants.

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Every land parcel in Delhi to geta 14-digit Aadhaar number

Delhi has launched Bhu Aadhaar, assigning a 14-digit Unique Land Parcel Identification Number (ULPIN) to every land parcel to modernize records and enhance accountability. This initiative aims to combat corruption and land disputes by creating a digital 'Aadhaar' for property ownership, ensuring greater transparency and streamlining transactions.

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NCLT appoints two-member committee to address grievances of Jaypee Infratech allottees

The NCLT Delhi has appointed an independent committee of experts to address homebuyers' grievances regarding Jaypee Infratech projects, now under Suraksha Realty. The committee will assess construction progress against the resolution plan and report on project status and any outstanding issues. This move aims to safeguard allottees' interests and ensure timely redressal of their concerns.

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Civil aviation ministry studying relaxation of height norms for real estate projects

The government is exploring relaxing building height limits to boost city development. This move aims to facilitate vertical growth as land becomes scarce. India's real estate market is projected for significant expansion. The civil aviation minister highlighted this potential. More airports are also planned, which will positively impact construction and housing sectors.

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DevX inks record coworking deal, takes 27-storey Ahmedabad office tower

Dev Accelerator has secured a massive 27-storey office tower in Ahmedabad. This deal, valued at over Rs 850 crore, is the largest coworking transaction in India. The agreement is structured as a development management deal. The project is currently under construction and will be ready in about 2.5 to three years.

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Maharashtra: NA tax finally abolished, to push redevelopment & regularisation of aging housing societies

Maharashtra has permanently abolished the annual non-agricultural (NA) tax, a move expected to accelerate redevelopment of housing societies. The reform eliminates the need for separate collector permissions for NA land use, replacing it with a one-time premium at the building-plan approval stage. This structural correction aims to boost real estate and industrial activities while enhancing transparency.

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