Government replaces building code with a new standard

Government has replaced the National Building Code with National Building Construction Standards. These new standards are now voluntary guidelines. A significant change is in fire and life safety rules. Previously mandatory, these provisions are now advisory. The height threshold for these rules has also increased. This shift aims for more flexibility and innovation in construction.

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Dubai eases visa rule for single property buyers

Dubai has removed the minimum property value for its two-year residency visa for individual buyers. This move aims to boost realty demand. For jointly owned properties, the minimum stake per investor is now AED 400,000. This change is expected to attract mid-tier professionals. The decision follows a significant slump in real estate sales volumes in Dubai.

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Co-working spaces trigger GST registration hurdles

Businesses using co-working spaces in Gujarat are facing increased GST registration scrutiny, with tax authorities questioning the validity of shared premises. Applicants are being asked for proof of exclusive possession, leading to rejections due to multiple firms at one address. Experts advise clearer guidelines and robust documentation for flexible workspaces.

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Our objective is to give houses to 22,000 homebuyers of ailing Unitech: SC

The Supreme Court has taken decisive action to resolve the plight of 22,000 Unitech homebuyers by appointing a new board to oversee the troubled real estate firm. Seeking collaborative solutions, the court has asked for input from the board, financial institutions, and banks. The ultimate aim is to facilitate the delivery of homes to buyers who have been left waiting.

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ED attaches Raheja Developers' assets worth over ₹1,110 crore

In a significant crackdown, the Enforcement Directorate has frozen assets worth over Rs 1,100 crore belonging to Raheja Developers. This move is part of an ongoing investigation into allegations of fraud aimed at homebuyers. During recent raids, the agency recovered substantial amounts in gold and foreign currency.

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Delhi development body put 142 major plots on sales to generate revenue

The Delhi Development Authority (DDA) is boosting revenue by e-auctioning over 140 diverse land sites and plots for residential, industrial, commercial, and institutional uses. This initiative aims to monetize vacant land and assets, with registrations open until May 22 for properties across prime Delhi locations.

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Soon high-rises on nine-metres roads across Mumbai

Mumbai's BMC is easing building height restrictions, allowing skyscrapers on narrow roads. An amendment to DCPR 2034 introduces graded height permissions based on road width, potentially unlocking redevelopment for thousands of old buildings. While boosting urban renewal, concerns remain about infrastructure strain and emergency access.

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