Gurugram: Compensation Plan Prepared for Chintels Paradiso Flat Owners

2/18/2025 11:28:00 AM

Gurgaon: In a relief for homeowners of towers A, B, and C of Chintels Paradiso in Sector 109, a high-level meeting chaired by the deputy commissioner proposed two compensation options for them, upholding the Central Building Research Institute (CBRI) report, that deemed the towers structurally unsafe. The homebuyers can opt for a full refund at the market rate with additional compensation. The prevailing market rates are: Rs 7,900 per square foot for Towers A and B, and Rs 7,500 per square foot for Tower C. Additional compensation includes a refund of the stamp duty paid, with 18% annual interest. An additional Rs 10 lakh will be paid as exemplary damages. The homeowners can also opt for the reconstruction of towers A, B, and C. Residents who choose this will be paid a fixed rent for alternate accommodation, the Supreme Court ordered on Jan 4 last year. The committee also reaffirmed that rent payments for displaced residents would continue as per the orders issued by the divisional commissioner on June 6, 2024. The meeting, convened after homeowners' representations, also considered the reply submitted by Chintels India Pvt. Ltd. The discussion centred around the structural integrity of the buildings and possible rehabilitation measures. An investigation by CBRI concluded that the structures were beyond repair, necessitating urgent action. The structural assessments of Paradiso's towers began after a vertical collapse of living rooms of flats across five floors in Tower D on Feb 10, 2022, led to the death of two residents, which was followed by days of protests on the compound, with residents accusing the developer of not reacting on time to concerns like sagging balconies that they had raised. Spokesperson for the developer said "Now that the value of flats is determined, we will offer to buyback at the rate determined by the govt. approved valuator." Source : Times of India INDIA

Over 200 Supertech employees finally get salary for December 2024

2/17/2025 10:59:00 AM

Noida: Supertech has disbursed Dec salaries to 237 employees, totalling over Rs 1 crore, following an order from the National Company Law Appellate Tribunal (NCLAT) issued on Feb 10. The payment adheres to the plan prepared and submitted by interim resolution professional (IRP) Hitesh Goel in consultation with the Apex Court Committee (ACC), which oversaw the process. The plan also includes disbursing Jan 2025 salaries, contingent upon the HR head submitting verified attendance records along with the processed salary sheet. The IRP emphasised the importance of accurate and timely documentation to ensure the continuation of salary payments. On Feb 10, NCLAT had directed the IRP to disburse Dec salaries within seven days and begin processing Jan payments. A hearing regarding the non-payment of salaries from Sept to Nov 2024 is scheduled for Feb 18. The employees, who were without salaries since Sept, recently approached NCLAT seeking intervention to clear their dues. Many struggled with basic expenses such as house rent, loan repayments and school fees. Feb 4, employees gathered at Supertech's Sector 96 office and staged a protest. During the Feb 10 hearing, NCLAT took note of the prolonged salary delays and instructed Supertech's HR head, Arun Mathur, to cooperate in providing employee details and ensuring timely salary payments. Goel had informed the tribunal that instructions for the bank transfer of December salaries were already issued, and the process for clearing Jan payments was underway. The NCLAT order stated, "In view of the aforesaid, we direct the salary for the month of Dec to be released within one week from today, that is by Feb 17, and with regard to salary for Jan, as submitted by IRP, the processing may be done and as early as possible the salary for Jan may also be released." Supertech Ltd has been undergoing insolvency proceedings since 2022. In Dec 2024, NCLAT mandated state-backed NBCC to complete 16 of Supertech's unfinished projects. Source : Times of India INDIA

Noida: Over 1,400 SDS NRI Township buyers protest against builder's additional compensation demand

2/17/2025 10:58:00 AM

Noida: More than 1,400 homebuyers of SDS NRI Township in Sector 26A off Yamuna Expressway have initiated a protest against the developer's demand for 64.7% additional farmers' compensation at the rate of Rs 8,746 per sqm. This demand by SDS Infracon will translate into an unexpected financial burden of around Rs 8-10 lakh for each buyer, despite a majority of them still lacking legal possession of their plots in the 125-acre township after more than a decade. The controversy dates back to 2011, when the compensation for farmers who had parted with their land was initially set at Rs 1,770 per sqm. The amount, however, escalated significantly because of SDS Infracon's delayed payments, accumulating interest on mounting dues and penalties. On May 19, 2022, the Supreme Court favoured a demand by Yamuna Expressway Industrial Development Authority (YEIDA) for additional farmers' compensation. After the court verdict, the developer asked the buyers of plots to bear the additional cost, citing terms of the sub-lease deed. "The YEIDA since then is pressing for recovery of the said additional farmers' compensation, however, at an excessive rate and that too with penal interest. Our various letters/representations to YEIDA for corrective actions/reliefs are still being considered by YEIDA," the letter to buyers read. Of the 1,400 affected buyers, only 500 could register their plots between 2011 and 2015, when YEIDA issued temporary and conditional completion certificates. The remaining 900 are yet to get their land registered. But those with registered plots aren't any better either. They cannot begin construction because of severe infrastructure deficiencies, including the absence of basic amenities like electricity, water, and sewerage systems. Tarun Sharma, general secretary of the NRI Township Yamuna Plot Owners Association, expressed outrage at the compensation demand, saying their investment in the project had increased nearly four times. "This unreasonable demand shows the builder's complete disregard for buyers' hardships. On the other hand, they remain unaccountable for the project's incomplete infrastructure," he added. The situation has been further complicated by YEIDA's inconsistent policies regarding construction penalties. While fines were waived from 2017 to Dec 2022 because of lacking infrastructure, the authority unexpectedly enforced penalties for 2023. Though the waiver was reinstated in 2024, uncertainty remains about the 2025 policy. There are additional challenges regarding the township's expired layout plan, which has not been renewed since 2018. This has prevented even registered buyers from obtaining approvals of their construction maps. Source : Times of India INDIA

Ghaziabad Development Authority Plans Land Acquisition for Growth in Harnandipuram Villages

2/15/2025 11:34:00 AM

Ghaziabad: GDA has decided to chip the proposed Harnandipuram township by nearly 150 hectares. The township was proposed to come up on 521 hectares — almost the same size as Indirapuram — which would require the Authority to acquire land from 8 villages at an estimated Rs 5,000 crore. The costs were to be shared equally by GDA and UP govt under the CM Urban Expansion New City Promotion Scheme. GDA secretary Rajesh Kumar Singh informed a six-member panel, set up for supervising the land acquisition process under UP govt's direction, that for now, it has decided not to acquire land from three villages from it was to acquire over 150 hectares—Shahpur Morta (77.4 hectares), Bhowapur (68.9 hectares) and Morta (5.4 hectares). "The financial status of the GDA is not sufficient to acquire land from all eight villages in one go," Singh said. The official added about 127 hectares are to be acquired from farmers of Nagla Ferozepur, Mohanpur, Atour, Champat Nagar, Shamsher, Bhenda Khurd, Mathurapur and Shapur Morta. The rest—about 242 hectares— is either with the GDA already or is gram sabha land. DM Deepak Meena told TOI that at the meeting on Thursday, they also discussed the rates at which land will be acquired for the township. "The panel has decided that land acquisition rate will be determined on mutual consent between GDA and landowners as the process was less time consuming. In case there is no consensus, plots will be acquired under the Land Acquisition Act," he said. GDA has now been directed to start a land survey. "The development authority has some land parcels in its bank. With three villages out of the purview now, only 127 hectares need to be acquired," Meena added. The map of the new township, vetted at the GDA Board's meeting in Aug last year, showed that the township will span from Pipeline Road in the north of the city to Northern Peripheral Road in the east and Morti in the south. As per one estimate, Rs 10,000 crore will be needed to develop Harnandipuram, and nearly 50% will go into acquiring land. The six-member committee, comprising, the DM, ADM (finance and revenue), GDA vice chairperson, an official from the tehsil level, the stamp department and the GDA Secretary, was set up in keeping with a govt order, which mandates that a committee must be set up to decide on land rates if the cost of acquisition is more than Rs 10 crore. Source : Times of India INDIA

Punjab Government Announces Affordable Housing Project for Economically Weaker Sections on 1500 Acres

2/15/2025 11:33:00 AM

Chandigarh: To provide houses to the economically weaker sections (EWS), the Punjab cabinet gave nod to a policy for "optimum utilisation of land reserved for EWS". Under the scheme, scattered land pockets located in different housing colonies will be sold off and the money raised would be utilised to acquire 1,500-acre land in different cities of the state. The state development authorities will "generate reasonable revenue" through auction of the scattered land pockets. Separate chunks of land would then be used for to provide either plots or houses to the EWS. Finance minister Harpal Singh Cheema said, "The developers have to set aside 5% area for the EWS. But since 1995, not even a single plot has been given to any EWS during the Akali and Congress regimes. This section was neglected. Over 700 acres of scattered land in various housing colonies in cities lie undeveloped. We have identified that land and sell it in the open market. It is estimated to raise funds to buy 1,500 acres of land in the key cities of the state. It is a historic decision of the AAP govt." "The existing pockets cannot be developed properly, and it has been decided to buy and development alternate land for the EWS," he added. Utilisation of EDC The cabinet also approved a policy to utilise the external development charges (EDC) collected by various development authorities on behalf of the govt from promoters who develop their projects under Punjab Apartment and Property Regulation (PAPRA) Act, 1995. As per this policy 50% of the EDC collected from promoters will be utilised for development of infrastructure within the periphery of the colony or township whereas the remaining 50% will be utilized by the government for development of major projects in the state. Relief to acid attack victims enhanced The cabinet decided to rename the scheme for financial assistance to acid victims as ‘The Punjab Financial Assistance to Acid Victims Scheme, 2024' by including the males and transgenders victim in the scheme besides increasing the financial assistance of Rs 8,000 per month being given to the victim to 10,000 per month Earlier, only female acid attack victims were covered and provided with a financial assistance of Rs 8,000 per month. Amnesty for defaulting land allottees The cabinet approved an amnesty policy for the defaulted allottees who were not able to deposit the money against the plots allotted to them by Puda and other development authorities. As per this scheme, the defaulters can deposit their dues in lump sum along with scheme interest without any penalty. 6 spl courts for NRIs The cabinet approved setting up special fast track NRI courts in six districts in Jalandhar, Hoshiarpur, Kapurthala, Shaheed Bhagat Singh Nagar, Moga and Ludhiana. This will ensure smooth dispensation of justice to the NRI brethren, giving a big relief to them. Bathinda thermal plant land It was decided that the 253 acres of land of the thermal power plant Bathinda will be "optimally utilise" by the Bathinda Development Authority for residential and commercial sites, water treatment plant, bus stand, hospital and schools. Besides, 1,235 acres will be returned to the PSPCL. Apart from this, the administrative control of three lakes falling in 173-acre land of thermal plant will remain with the Bathinda Development Authority and the ownership rights will remain with the PSPCL. This area will be developed by the authority concerned as a tourist spot which will make the city as a tourist hub and the profit from this will be divided. e-auction policy for housing The cabinet gave approval for amending e-auction policy of the housing and urban development department. On the basis of feedback received after e-auction conducted in Sept-Oct, 2024, and after examining e-auction policies of other development authorities like Noida, Greater Noida Industrial Development Authority, and Jaipur Development Authority, changes have been made in the policy to generate revenue. The eligibility fees for all types of properties except chunk sites has been increased and a formula for the reduction in the reserve price of unsold properties after two consecutive auctions has been devised. If a site is not sold in two consecutive auctions, the reserve price will be reduced by 7.5% at the level of chief administrator of the authority. If the same site is not sold in the next two consecutive auctions, reserve price shall be reduced by 7.50% of the originally fixed reserve price for the first auction. Rental housing accommodation policy amended The cabinet approved changes in Rental Housing Accommodation Policy 2018 thereby making it more rational. The amendment stipulates that rental housing accommodation projects would also be permissible in institutional zones of Master Plans (except Master Plan of Mohali) and New Chandigarh. Further the accommodations will be allowed construction to house 1000 students instead of the existing limit in 500 over one acre of land. Pilot project for 200 solar pumps To promote renewable sources of energy for agriculture purposes, the Cabinet also gave go ahead for launching a pilot project to install 200 solar pumps for agriculture purposes and 90% funding for this project will be done by the Punjab govt. Bio methanation plant for Buddha Nullah To check the pollution caused due to cow dung in the Buddha Nullah of Ludhiana, the cabinet also gave nod for setting up an "ultra-modern" bio methanation plant in the industrial city. The plant will be spread over 2.5-acre land and will have a capacity of 300 tonne daily. Extension of Papra licensed projects The cabinet accorded approval to allow extension of time period for Papra licensed projects for two years up to Dec 31, 2025, at an extension fee of Rs 25,000 per acre per year. Similarly, extension of one year up to Dec 31, 2025, for mega projects at an extension fee of Rs 25,000 per acre. Subsidy for paddy straw-based boilers For paddy straw management, the cabinet gave consent to give Rs 1 crore capital subsidy on setting up of new paddy straw-based boilers and Rs 50 lakh for upgrading the existing plant. Sub-divisions of villages changed The cabinet gave consent to include Mahru, Tiwana and Tasalpur village in Ghanaur sub-tehsil, Rajpura tehsil, Patiala district, from Dudhan Saadhan sub-division, Patiala. Likewise, it was also decided to include Namol village in Sunam Udham Singh Wala sub-division, Sangrur, from Cheema sub-division. UGC scales for sports univ The cabinet gave a green signal to provide UGC scales to the teaching faculty in the Maharaja Bhupinder Singh Punjab Sports University, Patiala. BOX Stamp duty was not on agenda: Cheema Replying to a question about the proposal to impose stamp duty for the transfer of property among blood relations, finance minister Harpal Singh Cheema said that the issue was only being reported in a section of the media but was not on the agenda for the cabinet meeting. There were reports that the AAP govt was keen on bringing back stamp duty on the transfer of land among relatives, which was earlier withdrawn in 2014 by the Akali govt. The plan was to impose a 1% stamp duty on direct transfers from parents to children and grandparents to grandchildren, while all other transfers, including those between brothers, sisters, and spouses, were to invite a stamp duty of 2.5%. Source : Times of India INDIA

NGT Highlights Issues in Greater Mohali Development , Calls For Action

2/14/2025 11:32:00 AM

The National Green Tribunal has come down heavily on the Greater Mohali Area Development Authority over blatant environmental violations at its Purab Premium Apartments project in Sector 88. On Wednesday, the green court directed GMADA’s chief administrator (CA) Moneesh Kumar to conduct an inquiry to find officers responsible for these violations, demanding action within three months and an action-taken report before its registrar general. The tribunal warned that failure to comply would lead to further scrutiny. “We are hopeful that the GMADA chief administrator will do the needful as directed so that the tribunal may not be compelled to presume otherwise,” the National Green Tribunal (NGT) bench, headed by chairperson justice Prakash Shrivastava, said. Moreover, over two years after the Punjab Pollution Control Board (PPCB) in September 2022 imposed a compensation of ₹1.02 crore on GMADA for environmental violations at the project, the tribunal asked the board to impose further penalty on the authority. While GMADA had paid the penalty then for violations between August 31, 2022, and March 31, 2023, NGT found that violations were committed even before and after this period. The tribunal’s action came following a petition by the Purab Premium Apartments Allottees Association and resident SK Loona, accusing GMADA of violating essential Environmental Clearance (EC) conditions, including non-installation of a Sewage Treatment Plant (STP). The project had got EC for construction of 6,360 flats in an area of 117.118 acres — 1,080 of Type 1; 2,520 of Type 2 and 2,760 of Type 3. But, the petitioner submitted, only 1,620 flats in 37 acres had been constructed and residents were deprived of fresh drinking water. The petition also highlighted non-compliance of safety protocols, such as securing a fire safety certificate. It was further alleged that the applicants were compelled to take possession of uninhabitable apartments based on an allotment letter and offer of possession containing the condition to take possession within 30 days or the allottee shall not be entitled to take benefit of any rebate or refund on any ground whatsoever. ‘GMADA not above law’ Raising concerns over GMADA’s casual approach to legal compliance and notices, the tribunal observed, “It is apparent that there are gross violations of compliance of EC conditions by GMADA, which is a statutory authority. It has acted in clear contravention of the law and conditions of EC, and has proceeded with the project even without obtaining the Consent to Establish and Consent to Operate, which are statutory requirements.” “GMADA is bound by law and cannot treat itself above the provisions of law,” it further remarked. Notably, in light of the green violations, PPCB in July 2024 had restricted GMADA from continuing construction or selling flats at Purab Premium Apartments until the violations were rectified. ENVIRONMENTAL NORMS THROWN TO WIND An NGT-appointed three-member joint committee had highlighted the following violations following a visit to the project site in November 2023: GMADA did not install a Sewage Treatment Plant (STP) and is discharging the entire untreated domestic sewage into sewer leading to STP, Mohali Fresh water being used for toilet flushing and plantation/horticulture purposes instead of treated sewage water No record regarding maintenance of rainwater harvesting pits Despite the site being a bulk waste generator, no arrangements made for management of biodegradable solid waste Construction waste and mixed solid waste dumped in the basement Solar energy not utilised for illumination of common areas Drinking water supply line and fresh water supply line for horticulture and flushing not colour-coded Consent to establish and consent to operate not obtained Environment Management Cell not established Environmental Clearance not renewed after expiry in February 2020. Source : Hindustan Times INDIA

Allahabad HC Safeguards 81 Apartments Owners From Demolition in Lucknow

2/14/2025 11:31:00 AM

Lucknow: The Lucknow bench of Allahabad High Court has granted major relief to several flat owners of 81 apartments whose residents were slapped notice by LDA for vacating the apartments so that the said apartments could be demolished in pursuance to demolition orders issued to their builders about 19 to 20 years ago. In-fact, on suggestion of LDA itself, the bench has permitted the flat owners to apply to the LDA for compounding their flats by depositing the requisite penalty. The bench has , however, clarified that it would fix the accountability of the LDA officials who had failed to execute the demolition orders issued to builders 19 years ago. The bench was of the view that for the fault of the builders, the flat owners, who had purchased the flats from their hard earned money and were not aware of notices to builders should not suffer. A bench of Justice Rajan Roy and Justice OP Shukla passed the order on a writ petition filed by some flat owners of Royal Green Apartment situated in Mahanagar. The bench has stayed demolition of the apartment . Earlier, LDA counsel Ratnesh Chandra informed the bench that LDA had proceeded to demolish the said apartments owing to an order passed by a co-ordinate bench in a 2012 PIL. Source : Times of India INDIA

Gurugram Authorities Take Steps to Ensure Compliance with Building Codes

2/13/2025 11:37:00 AM

Gurgaon: The district town planner (enforcement) has issued a show-cause notice to Ansal Properties & Infrastructure Ltd and the NRI Group Housing, Celebrity Homes, Palam Vihar, over unauthorised commercial activities and illegal alterations in the residential complex. The notice, issued under Section 10(2) of the Haryana Development and Regulations of Urban Areas Act, 1975, highlights violations of approved building plans and warns of legal action if corrective measures are not taken immediately. A complaint on potential encroachments prompted a site inspection by town planning officials. The inspection confirmed the existence of unauthorised commercial setups, including a gym, fresh mart and play area, along with structural modifications in the stilt area, which is legally designated only for parking purposes. These alterations were found to be in violation of Section 3B of the Haryana Development Act, which mandates that all construction within a licensed colony must adhere strictly to approved plans. The stilt area modifications and commercial use of residential property violate licensing norms for Palam Vihar, a project developed by Ansal Properties & Infrastructure Ltd. Authorities have warned that if the violations are not rectified immediately, strict legal action will be initiated. The notice directs the developers and resident welfare association of Celebrity Homes to remove the illegal constructions and restore the building in accordance with the approved layout. "Submit authenticated copies of the approved building plan and relevant permissions. Appear before town planning officials at Huda Complex, Sector 14, Gurgaon, on Feb 25, 2025, at 11.00am to justify their actions," the notice stated. Many residents have welcomed the crackdown, citing growing concerns over unauthorised commercial activities within the residential complex. "We bought homes here expecting a peaceful residential environment, but unauthorised shops and commercial activities have disrupted our daily lives. Parking space has been reduced due to these illegal modifications," Amit Sharma, a resident of Palam Vihar, said. Source : Times of India INDIA

Noida Launches Initiative to Streamline Lift Registrations For Societies

2/13/2025 11:36:00 AM

Noida: The district administration is taking steps to address the alarmingly low registration of lifts under the state's new Lift Act, with only 88 of 80,000 elevators recognised in the city so far. In response, the additional district magistrate's (ADM) office has announced training camps to help RWAs with the online registration process. Atul Kumar, ADM (finance/revenue), said that of the registered lifts, 68 were in residential highrises, while commercial and industrial establishments accounted for the remaining ones. "All registrations must be completed through the UP Directorate of Electrical Safety website (updeslift.org). Despite multiple public advisories and announcements from the district administration, the response has been minimal," he added. UP govt has set a March 25 deadline for registering all lifts, according to a notification issued on Sept 25 last year. The first training camp is scheduled for next Tuesday, involving 47 societies in Sector 62. SK Gupta, president of the Federation of Sector 62 RWAs — which represents 45 societies with lifts — highlighted the challenges faced during registration. "None of our member RWAs has successfully completed the online registration process. We requested the ADM's office for a demonstration to facilitate the process," he said. Surojit Dasgupta, president of the Exotica Fresco AOA in Sector 137, who successfully registered 20 lifts, said, "The registration process is comprehensive and requires extensive documentation, including specific information from lift manufacturers." The Lift Act — passed by the state legislature in Feb last year after a spate of accidents involving elevators in societies — aims at regulating the installation, maintenance, and safe operation of lifts and escalators across UP. This legislation is particularly crucial for Noida, where elevators are integral to daily life in numerous highrises. The administration has laid down a stringent penalty system for delayed registrations. Late fees can range from Rs 100 a day for delays up to seven days to Rs 200 a day for delays between 8-15 days, and Rs 500 for delays between 16-30 days. If registration isn't done even after 30 days, lift operations will be suspended immediately, with a hefty penalty of Rs 10,000 for reinstating them. In Jan this year, the district administration issued reminders to 200 residential societies, malls, hotels, and commercial complexes regarding the mandatory registration. The ADM's office plans to extend these training camps to other clusters of societies, which will ensure comprehensive coverage and compliance with the new regulations. "We understand the challenges faced by residents and are committed to facilitating smooth registration of lifts through these training camps," Kumar added. Source : Times of India INDIA

DLF Achieves Rs 2680 Crore in Sales Over the Last Two Years, According to Panchkula Real Estate Update

2/12/2025 11:43:00 AM

Real Estate News , Panchkula Real Estate Market , DLF Latest Update: In a major boost to Panchkula’s real estate landscape, DLF Limited, one of the country's largest real estate developers, registered Rs 2680 crore in sales over the past two years. According to sources, the company's impressive sales figures stem from its two marquee projects -- The Valley Gardens and The Valley Orchards. Both these residential projects have witnessed overwhelming demand from homebuyers. These developments are part of the larger 175- acre DLF Valley township, a premium residential hub that continues to attract high-end buyers. Panchkula real estate news: DLF The Valley Gardens Launched in 2022, The Valley Gardens spans 34 acres and offers luxury independent floors on 500-square-yard and 269-square-yard plots. With sales surpassing Rs 1,150 crore, the project has set new records for premium housing in Panchkula. Recent transactions indicate that 4BHK+Study units have been sold at prices exceeding Rs 4 crore, highlighting the growing appetite for luxury homes in the region. Panchkula real estate news: DLF The Valley Orchards DLF’s latest launch, The Valley Orchards, introduced in December 2023, has also seen an extraordinary response. This 15.8-acre low- rise development features 512 residences in 3BHK and 3BHK+Study configurations. Market insiders report that over 95% of the inventory has already been sold, prompting speculation that DLF may announce additional phases to cater to surging demand. Panchkula real estate market , DLF in Panchkula DLF’s stronghold in Panchkula’s luxury segment comes amid increased activity from other major developers expanding their presence in the Tricity region. While DLF has focused on luxury residential projects, players like Omaxe and Sushma Group are catering to the affordable and mid-segment housing markets in New Chandigarh and Mohali. Additionally, developers such as ATS Infrastructure, Emaar India, Ireo, Maya Estatz, Hero Realty, Spaze Group, and Elante Developers are capitalizing on the region’s rapid urbanization and improving connectivity. Earlier in a statement, the company spokesperson highlighted that its projects have attracted a diverse clientele, including NRIs, defence personnel, government employees, and corporate professionals from across North India and international markets. Complementing its regional success, DLF announced a 61% increase in consolidated net profit, reaching Rs 1,058.73 crore for the quarter ending December 31, 2024. The company recently announced its Q3 FY25 results and said “Our development business continues its growth trajectory, delivering record new sales bookings of Rs 12,093 crore during the quarter. Our latest super luxury offering, The Dahlias in DLF 5, Gurugram, performed exceptionally well, garnering Rs 11,816 crore of new bookings in the opening quarter. The overwhelming response to our new offering has resulted in the company surpassing its annual guidance. New sales bookings for the first nine months of the fiscal year stands at Rs 19,187 crore” Source : Times of India INDIA

Haryana RERA Confiscates Security Deposits From Six Developers for Breaching Registry Regulations

2/12/2025 11:42:00 AM

Gurgaon: Haryana Real Estate Regulatory Authority (HRera) has seized security deposits worth Rs 2.25 crore from six promoters for failing to comply with registration conditions. In a major crackdown on errant developers, the authority in the city also imposed penalties of Rs 25 lakh each on two promoters for not adhering to project timelines, as mandated under Section 4(2)(l)(C) of the Real Estate (Regulation and Development) Act, 2016. The authority has warned that strict action will continue against developers who fail to meet their commitments. Despite the penalties, the Rera registration certificates for the affected promoters remain valid, though with revised project timelines. An HRera official said on Tuesday, "Timely completion of real estate projects is essential to maintaining consumer trust in the real estate sector. Developers must adhere to their commitments, or they will face stringent penalties." For homebuyers, HRera actions serve as reassurance that regulatory bodies are taking steps to hold developers accountable. Experts believe such penalties will deter developers from delaying projects and encourage compliance with regulations. Section 4(2)(l)(C) of the RERA Act requires developers to submit an application for registration, clearly specifying the timeline for project completion. Any deviation from this timeline without due approval is considered a violation, subjecting the developers to penalties. HRera emphasised that these actions are aimed at ensuring accountability and protecting homebuyers from indefinite project delays. HRera's Gurgaon office has been actively monitoring real estate projects to prevent delays and ensure that homebuyers receive their properties within the promised timeframe. The decision to forfeit security deposits linked to delayed projects and impose penalties is seen as part of the real estate authority's broader effort to enforce discipline in the sector. Homebuyers have often raised concerns about stalled projects and delays, which lead to financial burden and emotional distress. For developers, the penalties for failing to adhere to timelines and agreements highlight the need for stricter planning and execution of projects. The real estate sector has faced challenges in meeting deadlines due to factors such as financial constraints and irregularities, regulatory approvals and market fluctuations. Gurgaon: Haryana Real Estate Regulatory Authority (HRera) has seized security deposits worth Rs 2.25 crore from six promoters for failing to comply with registration conditions. In a major crackdown on errant developers, the authority in the city also imposed penalties of Rs 25 lakh each on two promoters for not adhering to project timelines, as mandated under Section 4(2)(l)(C) of the Real Estate (Regulation and Development) Act, 2016. The authority has warned that strict action will continue against developers who fail to meet their commitments. Despite the penalties, the Rera registration certificates for the affected promoters remain valid, though with revised project timelines. An HRera official said on Tuesday, "Timely completion of real estate projects is essential to maintaining consumer trust in the real estate sector. Developers must adhere to their commitments, or they will face stringent penalties." For homebuyers, HRera actions serve as reassurance that regulatory bodies are taking steps to hold developers accountable. Experts believe such penalties will deter developers from delaying projects and encourage compliance with regulations. Section 4(2)(l)(C) of the RERA Act requires developers to submit an application for registration, clearly specifying the timeline for project completion. Any deviation from this timeline without due approval is considered a violation, subjecting the developers to penalties. HRera emphasised that these actions are aimed at ensuring accountability and protecting homebuyers from indefinite project delays. HRera's Gurgaon office has been actively monitoring real estate projects to prevent delays and ensure that homebuyers receive their properties within the promised timeframe. The decision to forfeit security deposits linked to delayed projects and impose penalties is seen as part of the real estate authority's broader effort to enforce discipline in the sector. Homebuyers have often raised concerns about stalled projects and delays, which lead to financial burden and emotional distress. For developers, the penalties for failing to adhere to timelines and agreements highlight the need for stricter planning and execution of projects. The real estate sector has faced challenges in meeting deadlines due to factors such as financial constraints and irregularities, regulatory approvals and market fluctuations. Source : Times of India INDIA

Haryana RERA Orders Builder to Refund Rs 6 Lakh to Homebuyer

2/11/2025 11:43:00 AM

Gurgaon: The Haryana Real Estate Regulatory Authority (H-Rera) this month ordered the developer of a residential project in Sector 103 to refund Rs 5.8 lakh paid by a homebuyer to book a flat in 2019 along with annual interest of 11% for failing to honour its commitments. HRera gave the ruling after the homebuyer filed a petition to the authority. The buyer, Bharat and Poonam Gupta, had booked a 2BHK flat in Mahira Homes in April 2019 for up-front amount of Rs 1.15 lakh. The Guptas received a letter on July 1, confirming that flat number 703, spanning 570sqft, in Tower G was allotted to them for a basic sale price of Rs 23.3 lakh. The buyer paid an additional Rs 4.7 lakh via cheque, bringing the total payment to Rs 5.88 lakh, but the developer did not issue a receipt for this payment. The same month, the buyer also sought a builder-buyer agreement from the developer to get a home loan, but the developer refused, citing lack of environmental clearance certificate for the project by the govt. Despite this, the homebuyer alleged, the developer continued raising demands for further payments for the flat. The buyer was also refused a home loan by the Punjab National Bank, and in Jan 2020, Mahira Homes cancelled the flat's booking unilaterally, he alleged. The homebuyer in Jan last year approached HRera, alleging that the developer was not refunding the amount paid by him after the flat was booked. The regulatory authority noted in its hearings on Jan 17 and Feb 21, 2024, that the developer did not file any responses despite multiple directives. On Feb 5, HRera struck off the defence and ruled in favour of the homebuyer, saying that the developer of Mahira Homes violated Section 13(1) of the Real Estate (Regulation and Development) Act, 2016, which prohibits collecting more than 10% of the total price of a property without executing a sale agreement. Additionally, HRera also observed that project had since come under regulatory scrutiny as its accounts were frozen and the developer was blacklisted in May 2022 due to several violations. On March 11, 2024, HRera revoked the project's registration as well to prevent the developer from selling unsold units. Citing these factors, HRera ordered the developer to refund the full amount paid by the homebuyer along with 11.1% annual interest. The developer has 90 days to comply, failing which further legal action will be taken. Source : Times of India INDIA

Private Firm to Assess Value of Gurgaon’s Chintels Paradiso Flats

2/11/2025 11:42:00 AM

Gurgaon: The department of town and country planning (DTCP) has appointed consultants to assess the market value of flats and their interiors in towers A, B and C of Chintels Paradiso, months after these buildings were also declared unsafe in a second audit organised by the developer. Audits at the Sector 109 society began after a vertical collapse of five floors at Tower D killed two women in Feb 2022. Soon after the incident, the district administration brought in IIT experts to assess the structural safety of residential towers at the apartment complex. IIT reports declared towers E and F unsafe in March 2023, followed by Tower G in June 2023, Tower H in July 2023 and Tower J in Jan 2024. Later, the developer – Chintels India – asked the Central Building Research Institute – to audit the remaining towers. Tower C was declared unsafe by CBRI in Aug 2024, followed by Tower A in Oct 2024 and Tower B in Dec 2024. In all, all nine towers of the complex are likely to be demolished. The process to raze towers D, E, F, G, H and J has already begun, and all residents of these buildings have been vacated. The valuation work of flats in towers A, B and C -- ordered by the deputy commissioner this week -- will take the process forward and determine the financial repercussions for homebuyers. "We will pay these fees (to the consultant) as we did for the first phase of valuation. Once the value is determined, then we will offer to buy back flats from homebuyers at the rate determined by the govt-approved valuator," a spokesperson for Chintels India said on Monday. The decision to go ahead with valuation was taken after DC Ajay Kumar on Monday held a meeting with homebuyers of Paradiso to address their concerns. The consultant has to submit a final report on valuations within 15 days after receiving necessary documents. On Monday, residents of the society held a candle-light march to mark three years since their ordeal began. They said both the district administration and developer have delayed the rehabilitation and compensation process to give them relief. Source : Times of India INDIA

Residents of 32 Noida Societies Protest Over Delay in Property Registration

2/10/2025 11:53:00 AM

Noida: Homebuyers from 32 societies, including 7x sectors and Sectors 141, 167, and 137, staged a conch shell (shankhnaad) protest within their societies on Sunday evening. The protest highlighted the residents' frustration over the delay in pending registries. They also demanded the implementation of the original Amitabh Kant Committee report and the chief minister's intervention on the matter. Approximately one lakh registries are pending in Noida, of which about 25,000 are from 7x and neighbouring sectors, comprising over 1.5 lakh population. In the meanwhile, about 16 residents from Skytech Matrott Sector 7x are currently visiting Mahakumbh at Prayagraj, where they also held a banner protest against pending registries. They also held a black flag protest on Jan 26. Meanwhile, on Saturday, residents' anger erupted against the professional appointed by the NCLT court regarding the pending registries of Supertech Eco Village 1 and 2. They said that NCLT-appointed the officials have been constantly procrastinating for past three years and paid no attention to the matter. Residents stated that it is high time the authority should collect its dues from the builders by auctioning their land, projects, or private property. They also added that they were trying to draw the Authority and UP govt's attention to the matter. Saurabh Sinha, a Skytech Matrott Sector 76 resident, told TOI that he, along with 16 homebuyers from his society, raised the protest on pending registries with banners from the Kumbh ground. Speaking to TOI via telecon from the Mahakumbh ground in Prayagraj, Sinha said it's a do-or-die situation for the homebuyers as they are suffering heavy financial burden due to pending registries. Earlier on Saturday, residents' anger erupted against the professional appointed by the NCLT court regarding the pending registries of Supertech Eco Village 1 and 2. Source : Times of India INDIA

NGT Panel Identifies Environmental Compliance Gaps at ACC Cement Plant in Himachal Pradesh

2/10/2025 11:52:00 AM

Bilaspur: A joint committee of National Green Tribunal (NGT) has identified environmental compliance lapses at Adani Group's ACC Limited cement plant in Barmana, Himachal Pradesh, raising concerns over air pollution in the region. In its report to the tribunal, this committee of Bilaspur subdivisional magistrate (SDM) Abhishek Garg, Himachal Pradesh State Pollution Control Board (HPSPCB) regional officer Pawan Sharma, and Central Pollution Control Board (CPCB) scientist Narender Sharma has outlined deficiencies in the plant's environmental safeguards after inspecting the unit on Jan 18. The committee observed dust emissions from clinker, ash, and cement silos, as well as inadequate measures to prevent accidental discharges, despite directives from the HPSPCB. While metal sheets and nets were installed near a complainant's residence to mitigate dust, their height was deemed insufficient for effective control. Even though the plant has implemented a truck wheel washing system at the exit point to prevent dust dispersion, it lacks a mechanism to remove oil and grease from wastewater before recycling it for washing purposes. Additionally, the committee noted the absence of a mandated three-layer tree plantation system to counter air and noise pollution. The report acknowledged the installation of 111 air pollution control devices, including 109 bag filters and two electrostatic precipitators, aimed at capturing dust generated during production. The report highlighted that the ACC cement plant has faced seven complaints over the past three years. In April 2022, the HPSPCB imposed an environmental compensation of ₹1.29 crore on the company for air pollution and untreated wastewater discharge, a penalty that ACC has since paid. A previous ruling in 2015 saw the NGT impose a ₹50 lakh fine on ACC for similar environmental violations in Barmana. At the time of inspection, the plant was undergoing an annual maintenance shutdown and operating at only 25% capacity, with mining and crushing activities halted. The committee has requested an additional eight weeks to conduct a follow-up inspection when the plant is fully operational. The NGT initiated the investigation following a petition by Kashmir Thakur, a Barmana resident, who alleged that airborne dust from the plant was contaminating roads, pathways, and residential areas. The petitioner also claimed that ACC Limited had failed to manage emissions effectively despite years of operation. The tribunal is expected to review the findings in the coming weeks. box Key findings at Barmana >> Dust emissions | From clinker, ash, and cement silos, contaminating roads, pathways, and residential areas >> Accidental discharge prevention | Inadequate despite directives from the HPSPCB >> Dust control | Metal sheets and nets installed near residential area are of insufficient height >> Truck wheel washing system | Exit-point dust dispersion measure doesn't remove oil and grease from wastewater before recycling it for washing purposes >> 3-layer tree plantation system | Absent despite being mandated to counter air and noise pollution >> 111 air pollution control devices | 109 bag filters and two electrostatic precipitators, capturing dust generated during production >> Complaints | Seven over the past three years >> Environmental compensation | Rs 1.29 crore, imposed on ACC in April 2022, for air pollution and untreated wastewater >> Fine | Rs 50 lakh, imposed on ACC by the NGT in 2015 >> Current operating capacity | Only 25% at the time of inspection due to annual maintenance shutdown Source : Times of India INDIA

Builder Unable to Fix Issue; 700 Families in Gurugram left Without Power

2/10/2025 11:50:00 AM

Gurgaon: Around 750 families at Mapsko Mount Ville in Sector 79 were left with electricity for 23-hour power after DHBVN disconnected supply due to the developer's failure to repair a faulty breaker at the Sector 72 substation. The disconnection occurred at the 33kV switching station at 6pm on Friday and was only restored at 5pm on Saturday, with residents claiming no prior notice was given to them. "Despite no fault, the ring main unit in Sector 79 remains racked out and locked, with no keys provided to the operations and maintenance contractor. We tried contacting DHBVN officials, but there was no response. The disconnection came without any intimation, and we only learnt about it the next morning. Does DHBVN have the right to deprive residents of electricity even after timely payment of bills?" asked Sumit Duggal, RWA president of Mapsko Mount Ville. Meanwhile, a senior DHBVN official said that the developer and facility management failed to act on multiple warnings, adding that a notice was also served to the management, allowing seven days for rectification of the fault. "The vacuum circuit breaker at the Sector 72 substation was faulty for the last 25 days. Since its repair falls under the developer's scope, we served a notice giving them seven days to take action. Meanwhile, power was supplied through an alternate source, but no remedial measures were taken despite repeated follow-ups. This failure affected power supply to other areas as well. The supply has now been restored on the assurance that the fault will be fixed within three days," the DHBVN official said. When TOI reached out to the representative of the developer, they did not respond for comment. Residents, however, said that they had to bear the brunt due to the tussle between the developer and the discom and also pointed out the financial burden on them caused by prolonged reliance on diesel generators. "We have spent approximately Rs 8 lakh on diesel for gensets, which not only burns a hole in residents' pockets but also harms the environment. If there was a delay in repairs, the developer should have been penalised instead of harassing the residents. We have already deposited Rs 25 lakh as an advance payment for electricity, making this disconnection completely illegal," said Raghu Tiwari, general secretary of Mount Ville RWA. Source : Times of India INDIA

ACC Cement Plant in Himachal to Undergo Review For Cleaner Air Solutions

2/8/2025 10:47:00 AM

Kullu: Taking cognizance of a complaint that has accused Adani Group-owned ACC cement plant in Barmana village of Himachal Pradesh's Bilaspur district of causing air pollution, the National Green Tribunal (NGT) set up a joint committee to inquire into the matter. In a recent order, Justice Sudhir Agarwal directed the committee members to visit the cement factory and determine whether the firm had taken necessary measures to contain environmental pollution or there were any violations. The panel will have to submit a factual report to the tribunal. The committee members include officials from the Himachal Pradesh State Pollution Control Board (HPSPCB) and Central Pollution Control Board (CPCB) along with the Bilaspur deputy commissioner. The NGT appointed the CPCB as the nodal authority for coordination and compliance of its order. The NGT order came on a letter petition filed by Kashmir Thakur, a resident of Barmana village, who stated that flying dust from the factory during cement production process settles on pathways, concrete roads, and residential accommodations in the area. The petition added that ACC Limited has been manufacturing cement for the last several years but has not been able to manage and control dust emission from its plant effectively. "The dust separation system is not properly functioning or has not been properly erected by the proponent, due to which it has not been able to control fugitive emissions," according to the petition. Reacting to the points raised in the petition, the NGT observed that "before taking any action, we find it appropriate to obtain a factual report by constituting a joint committee." The NGT in 2015 imposed an environmental penalty of Rs 50 lakh against ACC Ltd for causing air pollution and thereby a health hazard in Barmana. The penalty amount was meant to be used for healing the environmental damage caused in the area and to ensure there is no pollution in the future. ACC Limited, along with Ambuja Cements, was taken over by the Adani Group from Holcim Group, a Swiss company, in May 2022. Source : Times of India INDIA

YEIDA Allocates Four Hotel Plots Near Noida International Airport For Development

2/8/2025 10:46:00 AM

Noida: Yamuna Expressway Industrial Development Authority (YEIDA) has auctioned plots for four hotels near Noida International Airport, securing bids significantly above the reserve price. The plots, ranging from 3,400-4,000 sqm in Sector 29, received the highest bid of Rs 31 crore. Equasocio Digital Technologies was allotted a 4,000-sqm plot at least Rs 5 crore above its reserve price of Rs 26 crore, officials said. Two 3,400 sqm plots were auctioned for Rs 23 crore each, against a reserve price of Rs 22 crore, to Balaji Enterprises and Ranchor Infra Developers. Net2Source Consulting emerged as the highest bidder for another 3,400 sqm plot, acquiring it for Rs 29 crore against a reserve price of Rs 23 crore. The Authority earned a cumulative revenue of Rs 106 crore, about 12% more than the reserve price of Rs 94 crore from the sale of plots. It anticipates a total investment of over Rs 200 crore in these projects. The Authority also allocated a 2,100 sqm plot for a fuel station in Sector 18 to Bharat Petroleum Corporation Ltd at Rs 12.2 crore. The e-auctions for both the schemes were conducted on Thursday. The hotel plot scheme was launched in Dec last year, offering 12 plots ranging from 3,100 sqm to 20,000 sqm for allotment through e-auction. The scheme for the fuel station plots was introduced in November last year and offered two plots of 2,100 sqm and second one of the 1,600 sqm. Source : Times of India INDIA

Chandigarh Housing Board Aims to Address Rs 4.5 Crore Deficit in FY25

2/7/2025 11:34:00 AM

Chandigarh: With no major project undertaken for the past several years, the Chandigarh Housing Board (CHB) is now losing money and running deficits. As per the financials submitted for three financial years, 2022-23, 2023-24, and 2024-25, the CHB's receipts are less than its payments. From generating a surplus of Rs 25 crore in FY 2022-23, the CHB is heading to run a deficit of around Rs 4.5 crore in FY 2024-25. In the previous year, FY 2023-24, CHB generated a surplus of Rs 17.4 crore. When the board of directors of the CHB meets on Feb 12, this worsening financial position will be on top of the agenda. The budget will be submitted to the board of directors for its approval. CHB has proposed to tap into its accumulated savings to tide over the deficit. The receipts of CHB have been decreasing consistently. As per budget estimates 2023-2024, the receipts were pegged at Rs 473 crore. The actual receipts were Rs 108 crore. For the outgoing financial year, the receipts are pegged at Rs 120.26 crore. "The actuals are likely to be lower, which will be calculated at the end of the financial year," said a CHB official. The major source of income for CHB is derived from the sale of residential and commercial property, service charges, and user charges being charged from various allottees. A CHB official said, "The decrease in receipts in the revised estimates during 2023-24 was due to non-finalisation of schemes in IT Park (Rs 300 crore), UT Employees (Rs 5 Crore), and Sector 53, against which the provision was made in the previous year. The increase in the estimated receipt for the next financial year 2024-25 has been proposed due to the auction of vacant residential property, commercial property, and rental income." Similarly, the official said, the decrease in payments in the revised estimates during 2023-24 was due to non-finalisation of schemes in Sector 53, UT Employees, and IT Park Scheme and due to the decrease in CHB Works (Rs 134 Cr), Income Tax (Rs 48 Cr). The increase in the estimated payments for the financial year 2024-25 is due to an increase in CHB works from Rs 10.75 crore to Rs 44.13 crore, said the official. The working of the CHB has come under the scanner and its relevance questioned with its failure to launch any new project after 2016. But it has continued to add to its employee strength, the latest being the addition of 38 engineers. CHB pays around Rs 2 crore per month in salary/wages to its employees, whose strength is around 500. In the last five years, CHB has not much to show for. During this period, it completed 200 two-bedroom flats in Sector 51, office building ‘B' block in CHB Complex, constructed a boundary wall at the complex of small flats complex at Dhanas, renovated rental accommodation of CHB employees, and renovated toilets in Hotel Chandigarh Beckons Sector 42. Recently, UT chief secretary-cum-CHB chairman directed it to undertake a fresh demand survey for the Sector 53 housing scheme. CHB is yet to start the survey. Source : Times of India INDIA

Aadhar Housing Finance Q3 Profit Jumps 17.17%, Shows Strong Growth

2/7/2025 11:32:00 AM

Non-banking finance company (NBFC), Aadhar Housing Finance posted an increase of 17.17% in its net consolidated profit for the third quarter of FY25. Non-banking finance company (NBFC), Aadhar Housing Finance posted an increase of 17.17% in its net consolidated profit for the third quarter of FY25. The profit after tax (PAT) stands at ₹239.34 crore in the third quarter which is an increase from ₹204.37 crore registered in the same quarter last financial year, as per the firm's disclosure to Bombay Stock Exchange (BSE). It registered ₹797.64 crore in net consolidated total income in the quarter ended from ₹673.08 crore, registering an increase of 18.51% in the same quarter previous fiscal. The company's assets under management (AUMs) witnessed a growth by 21% to ₹ 23,976 crore from ₹ 19,865 crore. "There has been consistent growth in our AUM, and we have reached an AUM level of Rs 23,976 crore as at the end of Q3 FY25 which is a 21% year-on-year growth in AUM," said Rishi Anand, MD & CEO, Aadhar Housing Finance. Its gross non-performing assets improved marginally to 1.36% this quarter from 1.40% of December 31, 2023. "Disbursements have remained strong with a growth of 20%. PAT for nine months ended December 31, 2024 stood at Rs 667 crore, a growth of 22% year-on-year basis," he added. Ahead of earnings, the HFC's shares ended at ₹394.30 up nearly 1% on BSE. Source : Economic Times INDIA

Centre Denies Ownership Rights to Chandigarh Rehabilitation Colony Resident

2/6/2025 11:36:00 AM

Chandigarh: The central govt, on Tuesday, refused to give ownership rights to allottees of rehabilitation colonies of Chandigarh. It was stated that there was no such provision and houses were given to allottees on a monthly rent basis. Incidentally, local BJP leaders claimed in the past that the party would ensure ownership rights for residents of rehabilitation colonies. The clarification came on a question asked by city MP Manish Tewari in Parliament on Tuesday. Raising the issue of rehabilitation colonies, Tewari asked whether the Union govt was aware of any survey conducted by the estate office of Chandigarh to ascertain ownership rights of houses under rehabilitation schemes in Chandigarh. If so, he requested details thereof, and if not, the reasons. Replying to the question, Union minister of state, home affairs, Nityanand Rai said, "These houses were allotted to economically weaker sections of society on a monthly licence fee basis or leasehold basis. In these rehabilitation schemes, there is no provision to get ownership rights." Replying to another question regarding the total number of such houses built under rehabilitation schemes in the city since financial year 1980-1981 to financial year 2018-2019, the minister replied that Chandigarh has 34,965 such houses under rehabilitation schemes. As per the record provided, maximum number of houses, 11,616, were built in 2010-2011, followed by 6,161 houses in 1992-1993 and 4,960 in 2018-2019. The issue of ownership has been a major election issue, affecting lakhs of people. The MP said, "It is very unfortunate that the NDA, BJP govt is short-changing poor people and not giving them the ownership rights as they promised in the 2014, 2019, and 2024 Lok Sabha elections." Source : Times of India INDIA

Zomato Plans to Lease 2 Million Sq Ft Office Space in Gurugram

2/6/2025 11:36:00 AM

Food delivery company Zomato is in advanced discussions to lease about 1 million sq ft in Gurugram with an option to add another 1 million sq ft, in one of the largest office space transactions in the country, two people aware of the development said. Zomato, which currently occupies more than 300,000 sq ft of office space developed by ASF and the Pioneer Group in Gurugram, is in talks with the same developers for built-to-suit assets. “The demand for Grade-A office spaces will continue to remain strong in 2025. This deal highlights the robust demand Indian corporates will generate this year,” said Peush Jain, managing director – commercial leasing and advisory, at real estate consultancy Anarock Group. “Institutional-owned and campus-sized developments are preferred, as they provide growth opportunities along with numerous common amenities for occupiers. Recently, Zomato leased around 750 seats with Smartworks, which operates 450,000 sq ft of office at ASF’s Insignia Campusin Gurugram. The ASF Insignia Campus is primarily a special economic zone, and the company is in the process of de-notifying certain areas to lease to non-IT tenants. Last year, Hines, one of the world’s largest privately held real estate investors and developers, signed an agreement with property developer Pioneer Group to develop 1.25 million sq ft of office space along Golf Course Extension Road in Gurugram. Zomato currently occupies a large office complex in a Pioneer Group building in the same area. "Zomato is looking to consolidate its office space and, in the future, wants to have a single office campus in the NCR (National Capital Region). It is exploring both options. ASF has the advantage of lower rental costs," said a person aware of the deal. While the majority of the ASF’s campus is developed, the builder has the capacity to develop an additional 2 million sq ft. ASF has delivered over 5 million sq ft of commercial real estate projects. Source : Times of India INDIA

Greater Noida Authority May Extend Relief on Flat Registration Penalties

2/5/2025 11:32:00 AM

Noida: GNIDA is likely to extend the penalty waiver for homebuyers unable to register their flats due to developers' outstanding dues, for another six months, in its upcoming board meeting. Introduced in July 2024 for a six-month period, the waiver has already benefited over 6,500 homebuyers, each receiving a waiver of penalties ranging from Rs 2 lakh to Rs 2.5 lakh. According to officials, the initiative encouraged more property registrations and helped reduce legal disputes. "Since the implementation of the govt's policy for stalled projects in Dec 2023, over 11,500 registries were executed, and out of these, 6,500 homebuyers availed the penalty waiver benefits," said Saumya Srivastava, OSD at GNIDA. The Noida Extension Flat Owners' Welfare Association (NEFOWA) and other homebuyer groups have urged GNIDA to extend the scheme, citing financial constraints faced by many buyers. "Many homebuyers are eager to complete their registries but are struggling to arrange funds. They should be given more time to deposit the registry amount, and we are hopeful that the Authority will consider our request," said NEFOWA president Abhishek Kumar. The relief was initially introduced to assist nearly 40,000 homebuyers across numerous stalled projects. Despite receiving occupancy certificates many buyers were unable to execute their registries due to their developers' failure to clear dues, leaving them without legal ownership of their flats. Previously, in 2018, GNIDA granted a similar waiver, allowing buyers to register their flats without penalties. However, those whose developers had outstanding dues were still barred from completing the process. Once the relief window closed, these buyers faced daily penalties—Rs 50 for flats under 100 sqm and Rs 100 for larger homes—resulting in accumulated fines of Rs 2 lakh to Rs 2.5 lakh per buyer. The issue gained further attention in Dec 2023 when the Uttar Pradesh govt introduced a rehabilitation policy for stalled projects. Under this policy, 78 builders in Greater Noida availed benefits under a "zero-period" waiver on interest and penalties accrued during COVID, provided they paid 25% of their recalculated dues upfront. In early 2024, homebuyer groups petitioned the authority to waive these fines. Following discussions at a board meeting in June 2024, a six-month penalty waiver was approved, which was in effect from July 22, 2024, until Jan 31, 2025. With thousands of buyers benefiting from the relief but many still unable to gather the necessary funds, the upcoming board meeting will determine whether the waiver will be extended. Source : Times of India INDIA

Supertech Employees Seek Resolution For Pending Salaries in Noida

2/5/2025 11:32:00 AM

Noida: More than 300 employees of Supertech Limited — currently under insolvency proceedings — staged protests on Tuesday along with hundreds of vendors, demanding that salaries and payments due to them for several months be cleared at the earliest. Both groups have recently approached the National Company Law Appellate Tribunal (NCLAT), seeking its intervention and an order to interim resolution professional (IRP) Hitesh Goel to clear the dues. Employees gathered at the company's Sector 96 office in Noida on Tuesday morning, expressing their frustration over five months of unpaid salaries. The protesters vowed not to resume work until their salaries were cleared. The 300-odd workers have been without pay since Sept last year, causing them severe financial hardships. Many said they had been struggling with basic expenses such as monthly house rents, loan payments, and school fees. Some of them claimed facing the risk of their children being expelled from schools. Supertech Ltd is one of many companies floated by Supertech group. The National Company Law Tribunal ordered the initiation of insolvency proceedings against it in March 2022. Following an appeal by Ram Kishor Arora — a former Supertech promoter — the NCLAT in June 2022 allowed the formation of the committee of creditors for Ecovillage 2 while keeping other projects under the supervision of the IRP. Several vendors of Supertech Ltd — who have formed Shri Shyam Vendors Association to register their protest — began an indefinite sit- in pat Supertech Square, demanding settlement of their dues exceeding Rs 200 crore. Association president Dinesh Bhati has also called on National Buildings Construction Corporation (NBCC) to release at least 50% of their pending payments before initiating work on Supertech's stalled housing projects. The state-backed NBCC, which was mandated by NCLAT in Dec 2024 to complete 16 unfinished projects of Supertech, has yet to respond to the contractors' demands. The vendors have also filed a petition with NCLAT, which heard their plea last week and requested IRP Goel for a written submission. Following Supertech's insolvency proceedings in March 2022, the IRP had assured vendors that dues incurred during corporate insolvency resolution process would be settled "on priority". This commitment, however, remained unfulfilled. The association of vendors also argued that while issuing its order asking NBCC to complete the unfinished projects in Dec last year, NCLAT failed to acknowledge the priority of payments due to operational creditors — as mandated by the Insolvency and Bankruptcy Code. The payments included expenses for maintaining essential supplies and facilitating the completion of the projects and handovers of flats. NCLAT has scheduled hearings for the employees' case on Feb 10 and the vendors' petition on Feb 11. Source : Times of India INDIA

Noida Tribunal Ensures Swift Resolution: Tenant Ordered to Vocate with Rs 20 lakh Penality

2/4/2025 11:32:00 AM

Noida: The district rent tribunal has ordered a tenant who refused to vacate an apartment at Great Value Sharanam in Sector 107 and not paid rent for four years to cough up a stiff fine of Rs 20 lakh and move out within a month. Presiding over the tribunal, additional district magistrate (finance and revenue) Atul Kumar passed the order under UP Urban Premises Tenancy Regulation Act on Jan 21, warning of further legal action if the tenant fails to comply. The flat's owner, Manorama Devi, is an elderly widow and the tenants, Mukesh Gupta and his wife, are also senior citizens. In her complaint, Manorama claimed she rented her 19th- floor flat in Tower B of Great Value Sharanam to Gupta on May 1, 2019. A lease agreement was signed between them for 11 months at Rs 20,000 per month rent, excluding maintenance charges. After the lease term ended on March 31, 2020, it was not renewed and Gupta allegedly refused to vacate the property. Subsequently, Manorama issued a termination notice on Dec 12, 2021, but the tenant neither vacated the flat nor paid rent. "She sent them a second notice on Feb 21, 2022, but the tenants did not reply. Ultimately, the matter was taken to the rent tribunal on Feb 19, 2024," her advocate KK Singh said. During the hearings, Gupta told the tribunal, set up under the ADM court, that according to the UP Tenancy Act, he paid Rs 9 lakh in cash in two instalments as advance rent for 3 years in March 2020. However, with no formal lease agreement to support his claim, the court dismissed the argument. On Jan 21, the court finally ruled in favour of Manorama and ordered Gupta to vacate the flat and pay the penalty within 30 days. "The fine was fixed at Rs 20 lakh to include unpaid rent calculated under tenancy laws that impose penalties of double rent for the first two months of non-payment and four times the rent thereafter," Singh said. According to ADM Atul Kumar, several such disputes are heard by the rent tribunal daily since the implementation of the Tenancy Act in 2021. "Eviction orders have been issued for several more such cases, though the penalty for each case varies. This case is among the highest penalties calculated as per the Tenancy Act," the ADM said. Source : Times of India INDIA

Allahabad HC Upholds Urban Planning: Unauthorized Shops in Noida Residential Area to be Removed

2/4/2025 11:31:00 AM

NOIDA: The Noida authority is set to demolish the shops built in violation of the building bylaws in Gardenia Gateway society in Sector 75 after the Allahabad high court issued a demolition order following residents’ plea for an action. The decision to demolish shops came after the Allahabad high court dismissed a petition, challenging the demolition order of the Noida authority against illegally built shops in the Gardenia Gateway project. The court upheld the authority’s decision on the ground that the occupants had no legal right to the properties due to absence of an occupancy certificate and sub-lease deed. The petition, meanwhile, was filed by a group of buyers, seeking quashing of the demolition order dated August 9, 2024. The authority’s order directed to demolish shops and kiosks built on front and side setbacks without official approval. The petitioners, who had been allotted shops in the complex by the developer, challenged the authority’s order on the grounds that they had not been served any independent notice before the action was taken. However, the court, comprising justices Manoj Kumar Gupta and Anish Kumar Gupta, observed that the petitioners’ possession was unauthorised. The developer had handed over shops’ possession to allottees without obtaining an occupancy certificate from the Noida authority. On January 22, the court noted that the agreement between the petitioners and the developer clearly stipulated that possession could only be granted after the execution of a sub-lease deed, which had not been done. During the hearing, the petitioners’ counsel conceded that no occupancy certificate had been issued for shops. The Noida authority argued that the petitioners’ possession was illegal as the constructions contravened building norms. Citing a recent Supreme Court judgment in a recent case, the high court emphasised that unauthorised occupations could not be allowed. The apex court had directed authorities to undertake strict action against such violations. Dismissing the petition, the court ruled that granting the petitioners a hearing would serve no purpose, given the clear violations. It further stated that the petitioners could seek legal recourse against the developer to recover their payments or pursue any other remedy available under law. Residents had sought that the Noida authority must demolish all illegal shops without any delay because these pose safety hazards. There are at least 400 residents living in the society who have filed many complaints before the Noida authority against the realtor, which has built shops at the ground floor. “We had demanded that the Noida authority demolish these illegal shops. But they did not act initially. On court’s order, the authority demolished a few shops, and most of the units are yet to be demolished. We will meet the Noida authority any day this week to demand action against all illegal shops,” said Virendra Ganjoo, a resident of Gardenia Gateway society. Source : Hindustan Times INDIA

Himachal RERA Takes Action : Former Chief Under Probe For Fund Misuse

2/3/2025 12:04:00 PM

Shimla: Former deputy advocate general Vinay Sharma has filed a complaint in the state vigilance and anti-corruption bureau against former chief secretary Shrikant Baldi. He is seeking a thorough probe into the financial transactions made during Baldi's tenure as Real Estate Regulatory Authority (RERA) chairperson over the last five years. The complainant has also sought the registration of an FIR against Baldi under Section 13(1) and (2) of the Prevention of Corruption Act. In a complaint submitted to the director general of the state vigilance and anti-corruption bureau on Saturday, Sharma stated that he learned from the media reports, based on information sought under the Right to Information (RTI) Act, that Baldi distributed free apples worth approximately Rs 10 lakh from govt funds to IAS and IPS officers across the country over a span of five years while he was serving as the RERA chairman. When contacted, Baldi, the former IAS officer of the 1985 batch, told TOI: "I don't want to comment on anything." A day after his retirement, Baldi had joined as the first chairperson of the Himachal Pradesh RERA on Jan 1, 2020. His term ended on Dec 12, 2024. Sharma further said Baldi did this despite no provision in the rules allowing such expenditures. "This act not only raises serious concerns about financial mismanagement but also amounts to the misuse of public funds for personal and unofficial benefits," read the complaint. The former deputy advocate general has sought a thorough inquiry into the financial transactions made during Baldi's tenure as RERA chairman, identifying and holding accountable any officials involved in approving such expenses. He has also sought recovery of the misused amount from the individuals concerned and appropriate legal and disciplinary action against those responsible. Source : Times of India INDIA

NGT Pushes for Accountability: Ludhiana Civic Body to Address Illegal Structures

2/3/2025 12:03:00 PM

Ludhiana: The NGT has asked the MC commissioner to appear in person or via virtual mode in a disposed of case pertaining to non-compliance with orders on removal of the MC extension office building and dumpyard in Sarabha Nagar as well as closure of some commercial outlets at Model Town Extension Road. The orders mention that the registry is directed to issue show cause notices to the MC commissioner, CEO, Ludhiana Smart City Limited, deputy commissioner and chairman, Improvement Trust Ludhiana to show cause as to why action not be taken against them as mentioned above and also requiring them to file a compliance report at least three days before the next date of hearing, Feb 17. Engineers Kapil Arora and Vikas Arora were petitioners in this case. The NGT, in its final orders on July 4, 2024, directed the MC to remove the illegal structures and encroachments from green belts situated in Sarabha Nagar and Model Town Extension in two months. The MC commissioner submitted a compliance report on Sep 8, 2024, seeking 15 days time to remove the statue of Lord Shiva. The MC issued a letter on Aug 16, 2024, directing the assistant town planner to take action against unauthorised construction, whether temporary or permanent, from the premises of the park, namely Leisure Valley, and other establishments that have encroached upon the green belt. On Sep 4, 2024, the civic body demolished unauthorised construction in the green belt, including the birth and death registration office, scrap yard, and office of the junior engineer in Leisure Valley under the supervision of the district magistrate and a representative of the Punjab Pollution Control Board. It was submitted that despite their efforts and negotiations with religious representatives regarding removal of the Lord Shiva statue, 15 more days were needed to identify an appropriate place to re-establish it. On other structures, the MC said that they removed temporary sheds of a restaurant from the green belt and took steps against other violations. The civic body reiterated its commitment towards the creation of green belts for the benefit of city residents. However, petitioner Kapil Arora said that the scrap yard had not been demolished. He also claimed that commercial outlets which had been sealed by the MC at the green belt in Model Town Extension were operational again. Taking cognisance of this, the registrar general reopened the case as a miscellaneous application and the matter was heard recently. The Tribunal observed that non-compliance with the order passed by the NGT constitutes an offence punishable under Section 26 of the National Green Tribunal Act, 2010 (NGT Act, 2010), and the order passed by the Tribunal is also executable as a civil court decree under Section 25 of the NGT Act, 2010, as per modes of execution provided for in the Code of Civil Procedure, 1908, including the mode of arrest and detention in civil prison. Ankit Siwach, advocate had appeared and accepted the notice on behalf of the MC commissioner. Source : Times of India INDIA

Chandigarh's Rs. 2.73 Billion Development Projects: A Game-Changer for Tricity Real Estate Market

2/2/2025 12:52:00 PM

Chandigarh, the planned city known for its impeccable infrastructure and high quality of life, is set to witness a massive transformation with the announcement of Rs. 2.73 billion worth of development projects. These projects, aimed at enhancing the city's infrastructure, connectivity, and overall livability, are expected to have a profound impact on the Tricity real estate market, which includes Chandigarh, Mohali, and Panchkula. The development initiatives include the expansion of road networks, the construction of new flyovers, the upgrading of public transportation systems, and the creation of smart city features. These improvements are not only set to make Chandigarh more accessible and convenient but are also likely to boost property values across the Tricity region. For real estate investors and homebuyers, this presents a golden opportunity. The enhanced infrastructure will make the Tricity area more attractive for both residential and commercial investments. Properties in well-connected neighborhoods are expected to see a significant appreciation in value, making now the ideal time to invest in Chandigarh's real estate market. Moreover, the development projects are expected to create a ripple effect, benefiting the surrounding areas of Mohali and Panchkula. As Chandigarh becomes more developed, the demand for housing and commercial spaces in these adjacent cities is likely to surge, further driving up property prices. In conclusion, Chandigarh's Rs. 2.73 billion development projects are a boon for the Tricity real estate market. Whether you're a homebuyer looking for a dream home or an investor seeking lucrative opportunities, now is the time to capitalize on the growth and potential that these projects bring to the region. India

Budget 2025: Tax Benefits Now Available on Two Self-Occupied Homes

2/1/2025 2:30:00 PM

In a significant move announced on February 1, Finance Minister Nirmala Sitharaman relaxed the conditions for tax relief on self-occupied properties in the Union Budget 2025. Taxpayers can now claim tax benefits for two self-occupied houses, a major change from the previous rule that allowed relief for only one property. “Presently tax-payers can claim the annual value of self-occupied properties as nil only on the fulfilment of certain conditions. Considering the difficulties faced by taxpayers, it is proposed to allow the benefit of two such self-occupied properties without any condition,” the Finance Minister announced in her budget speech. “This reform significantly eases the tax burden for individuals who own and live in multiple properties, offering financial flexibility and promoting homeownership. By acknowledging the diverse housing needs of families, this decision not only provides greater tax relief but also encourages real estate investment. The move aligns with the government’s broader focus on financial empowerment and ease of living, strengthening the middle class while simplifying the tax structure,” said Adhil Shetty, This is a positive move also for residential real estate investment. The simplified TDS on rent decreases the compliance burden and enhances liquidity for landlords and will positively impact the rental housing market, especially in metro cities. Previously, homeowners could claim only one self-occupied property as tax-free; now, they can claim two – thereby removing taxation on notional rental income from a second home. “This step minimizes tax pressures, promotes homeownership, and facilitates real estate investment, especially in second homes and Tier 2 and 3 cities. Middle-class homebuyers, landlords, and investors can now benefit from reduced tax liabilities, better affordability, and less compliance hassles. By simplifying financial constraints and tax rules, the budget has made property ownership and rental housing more accessible. This gives a significant fillip to the real estate sector, specifically to and housing demand,” said Anuj Puri, Chairman, ANAROCK Group. Source : Financial Express INDIA

Haryana to Soon Begin Door-to-Door Drive for Property ID Verification

2/1/2025 11:56:00 AM

Gurgaon: The govt will start door-to-door verification of property IDs in districts of South Haryana. This will address irregularities in property ownership documents, a major concern for citizens and one of the issues brought up during the assembly elections campaign. The administration and civic bodies of the districts have been directed to first fix the issues related to property before streamlining the collection of property tax. After the formation of the govt, CM Nayab Singh Saini started a "Samadhan Sivir" at the district level, and most of the complaints received at these camps were found to be related to property ID and Parivar Pehchan Patra (PPP). Division commissioner R C Bidhwan said the verification of property IDs in the districts of Gurgaon, Rewari, and Mahendragarh should be completed within the next two months and urged municipal units to initiate a door-to-door campaign for the same. "Property ID verification process needs to be expedited. Municipal corporations of Gurgaon, Manesar, and Pataudi, along with councils and committees of Rewari, Mahendragarh, Narnaul, Dharuhera, Sohna, Farrukhnagar etc should conduct a door-to-door campaign for property ID verification," he said, adding that only after verifying the IDs could the property tax collection campaign be effectively directed. After online property IDs were introduced in 2023, Haryana govt made them mandatory to execute sale and purchase deeds. A property ID provides a unique identification number of the property and has attached the details of its owner, such as their name, contact number, address of the property, dimension, etc. These IDs are for paying property tax online, recordkeeping and executing sale deeds. Haryana has around 48 lakh registered properties. However, the property tax database is incomplete, with crucial information about owners missing from it. Govt data reveals that 42% of the registered properties, from residential to industrial or commercial, do not have the contact details of the owners, while 34.1% of the property IDs are missing the names of the owners. Among all the municipal corporations, Gurgaon has the highest number of inconsistencies in property IDs. Around 39.4% out of 9.15 lakh properties in the district lack contact numbers, and 2.53 lakh (27.7%) properties have missing property owner names. Faridabad follows closely, with missing contact numbers for 3.4 lakh properties and absent property owner names for 2.76 lakh properties. In Ambala, 1.3 lakh properties have missing contact numbers, and 1.1 lakh properties have missing names. Moreover, residents have accused the system of property IDs to be deliberately manipulated and mismanaged. They believe this is to force them to offer bribes in order to get their work completed. Meanwhile, the division commissioner, while reviewing pending revenue cases in Tehsildar, SDM, and deputy commissioner courts, urged all officials to act promptly for their resolution. "Revenue cases should not remain pending for long. Quick resolution of land-related disputes will provide relief to the public, enabling them to continue their agricultural activities smoothly," he said. Source : Times of India INDIA

Budget 2025: What the Real Estate Sector Expects!

2/1/2025 11:55:00 AM

Finance Minister Nirmala Sitharaman will present Budget 2025 today, and the real estate sector anticipates a strong focus on affordable and middle-income housing. Industry stakeholders are seeking an expanded definition of affordable housing, tax benefits for homebuyers to boost affordability, and incentives for developers to drive the construction of budget-friendly homes. The need of the hour is to provide more tax sops for both homebuyers and developers wanting to undertake affordable and middle-income housing projects. Real estate experts say the government should raise the deduction limit for interest payments on home loans from the existing ₹2 lakh a year to ₹5 lakh, which will add momentum to housing demand. Boost to Affordable Housing Increase budgetary support and incentives to make housing more accessible. The current growth trajectory is skewed towards luxury and premium housing. Considering the specific housing needs of India’s middle class, this momentum cannot ride solely on higher-priced homes while affordable housing continues to languish. Experts say the government should focus on providing more sops for affordable and mid-segment housing. According to Anuj Puri, chairman of Anarock, the current definitions of affordable housing, based on size, price, and buyer income, require urgent revision. While the size criterion (60 sq. m. carpet area) is reasonable, the price cap of ₹45 lakh is unrealistic in high-cost cities like Mumbai. The cap should be raised to at least ₹85 lakh in Mumbai and ₹60-65 lakh in other metro cities to reflect market realities. Such revisions would enable more properties to qualify as affordable housing, granting buyers access to lower GST rates (1% without ITC) and other subsidies. According to the Ministry of Housing and Urban Affairs, affordable housing is defined based on property size, price, and buyers’ income. For instance, affordable housing is a house or flat with a carpet area of up to 90 sq. m. in non-metropolitan cities and towns and 60 sq. m. in major cities and valued up to ₹45 lakh for both. On the other hand, the central bank’s definition is based on the loans given by banks to people for building a house or buying apartments. With such price revisions, more homes would qualify for the affordable price tag and more buyers could avail of benefits such as lower GST rates at 1% without ITC and government subsidies, said Puri. Tax Relief for Homebuyers Higher deductions on home loan interest and principal repayment. On the demand side, real estate experts have urged for a separate and higher deduction for housing loan principal repayment (up to ₹500,000), currently capped at ₹150,000 under section 80C. The limit on tax deduction on interest paid can be increased from the current ₹2 lakh to about ₹4-5 lakhs in case of let-out property. They say tax benefits for first-time homebuyers in applicable affordable housing projects under 80EEA should be expanded. The current capping of ₹150,000 and loan sanction timeline until March 2022 can also be expanded to boost housing for the masses. Tax exemptions should be offered on rental income to boost housing demand, especially among investors, they say. According to G Hari Babu, national president of Naredco, “The Union Budget 2025 presents a critical opportunity to address key challenges and propel the real estate sector towards sustainable growth. Revising the affordable housing price cap from ₹45 lakhs to ₹60 lakhs, which has remained unchanged for a decade, is imperative to account for rising input costs and inflation. Similarly, increasing the income tax deduction limit on interest payments under Section 80C from ₹2 lakhs to ₹5 lakhs and reducing home loan interest rates will make homeownership more accessible.” Restore the 100% Tax Holiday for Developers To boost supply and incentivize developers to build more affordable housing, the government can re-introduce the ‘100% Tax Holiday’ benefit they previously enjoyed under section 80-IBA in the Finance Act, 2016. This section provided for major tax relief on the profits earned from developing and building affordable housing projects. To boost the supply of affordable housing, CREDAI recommends extending the lower 15% income tax rate, currently available to manufacturing companies, to affordable housing projects. This measure would incentivize developers to increase their focus on affordable housing developments, thus bridging the housing gap. Increased Allocation for Stressed Projects Through the SWAMIH Fund This can improve liquidity in stressed residential developments, said experts. The finance ministry should allocate ₹50,000 crore to the second tranche of the Special Window for Affordable and Mid-Income Housing (SWAMIH) fund in the upcoming union budget for FY 2024-2025. This should be accompanied by other budgetary support and relaxations, including allowing input tax credit under GST and incentives for rental housing to achieve the housing for all targets. Simplification of GST laws A pre-budget expectations survey by Grant Thornton Bharat said rationalising input credits to developers under GST would reduce project costs, improve working capital efficiency for developers, and potentially lower property prices for consumers. Encourage Rental Housing The government should prioritise funding and incentives for rental housing development to meet growing housing demand and high ownership costs. This will increase affordable rental options, benefit a broader segment of society, and encourage private sector investment to address housing shortages and improve urban affordability, the survey said. Source : Hindustan Times INDIA

Birla Cotton Mills in Delhi to Turn into a Modern Residential Hub

1/31/2025 11:58:00 AM

Texmaco Infrastructure & Holdings Limited (TIHL, An Adventz Company), Hines, Conscient, and HDFC Capital have entered into a partnership to develop a premier residential- led mixed- use project on the site of the former Birla Cotton Mills in Kamla Nagar, Delhi. “This land parcel, owned by our Group for over 100 years, required the right development partners to realize its full potential. Hines and Conscient bring a unique combination of global expertise and deep local market knowledge, making this an ideal collaboration,” said Akshay Poddar, Chairman of Texmaco Infrastructure & Holdings Limited. Spread over 10 acres, the project will feature around 3 million square feet of modern condominium residences and premium retail spaces. “This is our first joint investment with HDFC Capital. This project provides a platform for us to leverage our global development expertise to address the shortage of modern residential options in one of the city’s most sought‐after location. The Project will also address the serious lack of Grade A retail spaces in the region,” said Amit Diwan, Country Head of India, Hines. Source : Times of India INDIA

Noida: 200 Buildings Advised to Register Lifts by March 25 for Safety

1/31/2025 11:55:00 AM

Noida: Over 200 residential societies, malls, hotels and commercial complexes are yet to register elevators under the Uttar Pradesh Lifts and Escalators Act. With the March 25 deadline not far away, the district administration recently sent them reminders to complete the procedure or pay a penalty. The Lift Act was passed by the state legislature in Feb 2024 to regulate the installation, maintenance and safe operation of lifts and escalators across the state, especially Noida, a bustling hub of high-rise buildings where elevators are a crucial part of daily life. On Oct 29 last year, the Noida administration issued a directive that made it mandatory for building owners and RWAs to register lifts on their society's premises within six months from Sept 25. Four months since, only two residential societies—Exotica Fresco and Purvanchal Royal Park, both in Sector 137—have registered their 68 lifts. This is a fraction of the estimated 80,000 lifts in Noida and Greater Noida. "We have been sending reminders since Jan 15, and the process is ongoing as more such reminders will be sent. Establishments are being informed that penalties will be imposed if lifts are not registered by the March 25 deadline," ADM (finance) Atul Kumar said. AOAs, however, told TOI that the registration process was tardy. Surojit Dasgupta, Exotica Fresco apartment owners' association president, said the registration process on the UP Directorate of Electrical Safety portal was "cumbersome". "One of the key challenges in the registration process is the requirement to submit multiple documents, including lift drawings, safety details and an affidavit from the lift manufacturer. Many societies and associations are struggling to gather these mandatory documents on time, leading to delays in the registration process," he added. Kumar agreed there were technical and administrative hurdles in the online registration process. "As of now, we are unable to monitor how many registrations are taking place in Gautam Budh Nagar through the online portal, as the information is directly sent to officials in Lucknow. We have requested modifications to the website to allow local monitoring," Kumar said. As per the Lift Act, all agencies involved in annual maintenance contracts (AMCs) and lift manufacturing must also register with the Directorate of Electrical Safety. "The registration of AMC agencies and lift manufacturers is conducted at the state level. However, at the district level, every registered lift requires AMC details to be filled out separately during document submission," an official said. The cost for registering a lift is Rs 5,000, which is a one-time fee. The registration fee for a lift manufacturing company is Rs 25,000, valid for five years, while lift maintenance agencies must register annually for Rs 25,000. As per the rules, if the delay to register lifts is seven days or less, then a late fee of Rs 100 per day will be charged. If the delay is more than 7 days and up to 15 days, then a late fee of Rs 200 per day will be charged for the entire period. If the delay is more than 15 days and up to 30 days, then a late fee of Rs 500 per day will be charged for the entire period, and if the delay is more than 30 days, then the operation of the lift or escalator will be stopped immediately and it can be restarted only after compliance with the provision with a late fee of Rs 10,000. Source : Times of India INDIA

Gurugram DTCP Pushes Developers to Fast-Track Affordable Housing Project

1/30/2025 11:19:00 AM

CHANDIGARH: The Gurugram Zonal Office of the Directorate of Enforcement (ED) on Tuesday claimed to have provisionally attached nine residential flats of M/s Bansal Poles Pvt. Ltd & Kailash Gupta, situated at Omaxe Executive Homez, Omaxe City, Bahadurgarh, District Jhajjar, Haryana, valued at Rs. 3.14 Crore (approx.) on January 27, 2025, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in a bank fraud case related to M/s Supergold Pipes Pvt. Ltd. ED initiated an investigation based on an FIR registered by the Economic Offences Wing (EOW) of the CBI, New Delhi, under various sections of IPC, 1860, and the Prevention of Corruption Act, 1988, against M/s Supergold Pipes Pvt. Ltd., its former Directors—Parmod Gupta, Kailash Gupta, and A.P. Saxena, and unknown public officials of the erstwhile Oriental Bank of Commerce. ED investigation revealed that the accused individuals unlawfully siphoned off and diverted the funds obtained through a loan from the erstwhile Oriental Bank of Commerce documents and caused a wrongful loss to the tune of Rs. 13.40 Crore (approx.). Out of this, the bank recovered an amount of Rs. 5.19 Crore (approx.) through selling the mortgaged properties. ED investigation further revealed that the loan was obtained by mortgaging land whose valuation was fraudulently inflated through the forgery of No Objection Certificates (NOCs) issued by the District Town Planner of Jhajjar. ED investigation so far has revealed that a portion of the loan, originally sanctioned for the purpose of expanding the business operations of M/s Supergold Pipes Pvt. Ltd., was diverted by the company’s former directors Parmod Gupta and Kailash Gupta. A significant portion of the diverted loan amount was subsequently utilised for the acquisition of residential flats. Further investigation is in progress. Source : Times of India INDIA

ED Recovers Rs Crore in Bank Fraud Case Involving Supergold Pipes

1/30/2025 11:18:00 AM

Gurgaon: The department of town and country planning (DTCP) held a review meeting with over a dozen builders in the city to assess the progress of affordable housing projects. DTPC reviewed the status of 55 ongoing projects, of which 40 were found to be progressing on time while around 15 were running behind schedule, causing inconvenience to homebuyers. While Agranta Realty's project, which received environmental clearance in 2019, has only completed 76% of construction, Revital Realty's project has made only 9% progress and Renuka Traders' project remains only 86% complete even after six years. Agranta Realty's project developer cited pollution-related restrictions under the Graded Response Action Plan (GRAP) as a reason for the delay and sought an extension until Dec 2025. Under DTCP regulations, projects must be completed within four years of receiving environmental clearance. However, several developers failed to meet this deadline, leaving homebuyers uncertain about their future. DTCP expressed dissatisfaction over slow progress and warned builders of strict actions against non-compliant developers. Regular review meetings will be held to ensure timely completion, and developers must submit progress reports periodically. "Builders must complete projects within the stipulated four-year timeframe, failing which strict action will be taken. Regular reviews will be conducted, and developers are required to submit progress reports periodically," said Renuka Singh, senior town planner, DTCP. Projects by MRG Eco World, Apricus Hills, GLS Infracon, and Prime Infra Developers were noted for their satisfactory progress and while in projects by Signature Global Private Limited and Pareena Builders & Promoters Private Limited, some towers were completed and work on several others remained slow. Meanwhile, homebuyers, many of whom are struggling with prolonged waiting periods and financial strain, demanded accountability and swift action on the part of builders. Source : Times of India INDIA

Noida Authority Takes Action Against Builders For Rs 825 Crore Unpaid Dues

1/29/2025 11:08:00 AM

Noida: Noida Authority has filed a complaint with Delhi Police's economic offences wing (EOW) against developers Shubhkamna Buildtech and IVR Prime Developers for failing to pay dues and diverting funds collected from the sale of flats. Accusing the promoters — Shubhkamna Buildtech and IVR Prime Developers — of misappropriating funds collected from the sale of apartments but not paying up their dues, Noida Authority argued that it not only caused big financial losses but also left homebuyers in distress. Noida Authority CEO Lokesh M said Shubhkamna promoters Mukesh Khurana, Diwakar Sharma, Kamal Singh Rothan, Harish Kumar and Piyush Tiwari created third-party rights by selling flats at their group housing project Shubhkamna Tech Homes in Sector 137 but diverted the funds without clearing its land dues. As per the Authority's data, the builder's dues exceed Rs 165 crore, even as no occupancy certificate has been issued for the Rs 692 flats. Subsequently, a complaint was filed with the EOW on Tuesday, seeking an investigation into the discrepancies. The developer was allotted a 22,566 sqm plot on March 23, 2010, for the project. Possession of the land was granted on Aug 20 of that year after a lease agreement was executed in July. IVR Prime Developers (formerly IVRCL Infrastructure) was allotted 1.3 lakh sqm of land on April 18, 2007, for Ajnara Ambrosia project in Sector 118. The project has 4,065 sanctioned flats, but only 3,385 units have been constructed, none of which have been registered. The developer owes Noida Authority over Rs 660 crore. A statement issued by the Authority states the promoters, Ila Reddy, E Sudhir Reddy, K Ashok Reddy, R Balrami Reddy, E Sunil Reddy, TN Chaturvedi, RC Sinha, TRC Bose and Ashish Dhawan, allegedly created third-party rights by selling flats and misusing the proceeds. A formal complaint was submitted to the Delhi Police EOW as the promoters failed to clear dues or complete the project despite repeated notices. The Authority has also issued a recovery notice of Rs 57.6 crore against Sethi Buildwell. The promoter was allotted 20,000 sqm of land on June 9, 2010, for the Sethi Max Royal housing project in Sector 76. Of the 726 sanctioned flats, only 455 have been registered, while 281 remain unregistered. Officials said the developer had opted for the state govt's rehabilitation policy for stalled projects, rolled out in Dec 2023, but failed to deposit 25% of the recalculated dues upfront. On Tuesday, the Noida Authority directed the DM to recover the dues as land revenue through a recovery certificate. Lokesh M told TOI the steps were crucial to safeguard the interests of homebuyers and ensure adherence to financial and regulatory obligations. In Sept, Noida Authority decided to write to the EOW to investigate defaulting developers, conduct financial audits, and track whether funds received from homebuyers were diverted. Subsequently, it issued a final notice to developers of seven residential projects, including IVR Prime, cumulatively owing Rs 1,035 crore in land dues, to pay up. In Nov last year, it filed a complaint against promoters of Logix City Developers Pvt Ltd over Rs 666 crore unrealised dues and missed delivery timelines for its Blossom Zest housing project in Sector 143. Source : Times of India INDIA

High Court Approves Private Lifts in South Delhi Buildings

1/29/2025 11:07:00 AM

New Delhi: Delhi High Court has given its approval to a resident of a multi-storey building to install a private lift on the ground floor, ruling that public interest and compliance with necessary approvals outweigh individual grievances, provided adequate safeguards are in place. Justice Ravinder Dudeja on Monday rejected a plea from the ground floor occupant of a residential building in south Delhi, who had claimed that the lift would invade his privacy, obstruct access to common areas, disrupt essential services, and affect the building's structural stability. The ground-floor resident argued that the lift would cause irreparable harm to the 45-year-old structure. "The court is in agreement with the trial court's finding that the privacy concern must be balanced against the practical need for modern amenities such as lifts, especially in multi- storeyed residential buildings," HC said. It noted that the lift and the window of the ground floor room open into a common area facing the road, and that this open area is already accessible to the public. The court ruled that the installation of the lift would not further impact the ground floor occupant's privacy. The court also clarified that the sanctioned plan for the building shows that the proposed lift does not obstruct the ground floor occupant's bedroom window. Furthermore, there is enough space between the lift and the adjacent washroom window to ensure that light and air are not affected. The building consists of flats on the ground, first, second, and third floors. The second and third floors are a duplex owned by the resident who received permission from the MCD to build the lift. When the ground-floor neighbour raised concerns about violations, the court ordered an inspection by the MCD, which found no cause for alarm and noted that 75% of the lift installation had already been completed. In its ruling, the high court emphasised that "public interest and compliance with statutory approvals outweigh individual grievances, provided adequate safeguards are in place." The court further stated that halting the project or dismantling the lift structure at this stage would cause greater harm, not only to the duplex owner but also to other residents who would benefit from the lift. Source : Times of India INDIA

Omaxe Plans Rs 2500 Crore Investment for Exciting New Projects

1/28/2025 11:52:00 AM

Realty firm Omaxe Group on Monday said it will invest Rs 2,800 crore to develop projects under a new brand BeTogether. In a regulatory filing, Omaxe said the new brand is dedicated to reshape urban and economic development through collaborative real estate projects. "The current projects being undertaken by BeTogether would entail a total investment of over Rs 2,800 crore," it added. Under the new brand BeTogether, the company will focus on joint ventures, collaboration and development through the Public-Private Partnerships (PPPs) model. BeTogether's project portfolio currently includes the joint venture initiative, 'BeTogether Centre Point Vrindavan'. In addition, the brand is partnering with the Uttar Pradesh State Road Transport Corporation (UPSRTC) on several PPP projects to upgrade bus terminals in key cities, like Lucknow, Ghaziabad, Kaushambi, Ayodhya, Amausi, and Prayagraj. In the last 37 years, Omaxe has established a strong footprint in 31 cities in 8 states of North and Central India and has delivered more than 1,350 square feet of area. Source : Business Standard INDIA

Noida International Airport Set to Open on April 17, Boosting Connectivity

1/28/2025 11:51:00 AM

Noida: ATC – check. Runway – check. Navigation systems – check. Over 80% of work at the terminal building is complete, and the remaining is on track for the April 17 launch of the Noida International Airport in Jewar. Officials said on Monday that the flooring of the terminal building is complete, and escalators and baggage handling systems have been installed. Construction of the roof is underway, said Shailendra Bhatia, nodal officer of Noida International Airport Ltd (NIAL), the agency monitoring the project. "The terminal building has achieved significant progress, with further finishing works progressing rapidly. Once the terminal building is fully completed, the installation of 10 aerobridges will commence," Bhatia said. He said that 90% of the funds for the airport's first phase of construction have been utilised. "Rs 9,024 crore has been spent out of the total sanctioned budget of Rs 10,056 crore. This includes Rs 4,326 crore allocated by the UP govt for acquisition of 1,334 hectares of land and Rs 5,730 crore earmarked for project development by the concessionaire, Yamuna International Airport Private Limited, a subsidiary of Zurich AG," the official added. Work on the air traffic control (ATC) tower, including its glass façade and the operational systems mandated by the Airport Authority of India (AAI), has been completed. "Land-side development, which includes the passenger terminal, access roads, parking facilities, and public transport connections, has made 78.7% progress. On the air-side, which comprises runways, taxiways, aprons and navigation systems, 88.9% of the work is complete," Bhatia said. The airport concessionaire, last month, applied for an aerodrome licence after a successful ‘validation' test flight. In the exercise, an Airbus 320 touched down and took off from the runway to assess NIA's airport's flight readiness. On board were officials from the Directorate General of Civil Aviation (DGCA) and AAI as passengers. Officials said the aerodrome licence, which is mandatory for commercial operations to begin, is likely to be granted by March. Authorities are aiming to start commercial flights from the airport from April 17. Built along the Yamuna Expressway, the Noida International Airport is meant to be an alternative to India's busiest Indira Gandhi International airport in Delhi. Officials said they expect to cater to 12 million passengers annually in the first phase. Separately, a 750m eight-lane elevated road with four cloverleaf interchanges that connect the airport with the Yamuna Expressway is ready. The elevated road is part of a 31km road that will eventually connect the airport with the Delhi-Mumbai Expressway at Ballabgarh in Haryana. This link road will take a few months to be completed. Progress has also been made regarding the MRO hub and a second runway to be developed for the second phase of the airport project. Tender documents are being prepared and sent to the govt to advance the process for the MRO hub. Source : Times of India INDIA

Nirala World Purchases 2.5 Acres of Land in Greater Noida For Rs 175 Crore

1/27/2025 12:59:00 PM

Real estate company Nirala World has bought 2.5 acre land in Greater Noida to develop a 8 lakh square feet commercial project to meet rising demand of office and retail spaces.In a statement, Nirala World said the company bought this land through an auction, from Greater Noida Industrial Development Authority (GNIDA).It has won bid to acquire a 10,400 square metre (2.5 acre) commercial land parcel worth Rs 175 crore. "We recently purchased a land parcel in Greater Noida West through an auction process," said Suresh Garg, Chairman and Managing Director of Nirala World.He said the company will develop its second commercial project in Greater Noida. Garg said the project will have retail spaces, high street, food court, multiplex, office spaces.The total development potential in this project will be 7.87 lakh square feet. In October last year, Nirala World had purchased a 2.6-acre land parcel in Sector 10, Greater Noida West to develop its first commercial projects. Nirala World said the company will continue to look for land parcels in Delhi-NCR. To expand its footprint, the company intends to enter the Gurugram commercial and housing markets. Nirala World is already developing a luxury residential project situated in Sector 2, Greater Noida West by the name of 'Nirala Trio'.The project comprises 400 units in which 40 per cent units are already sold. Nirala World has developed a 25-acre project by the name of Nirala Estate in Greater Noida West comprising 4,050 homes out of which possession of 3,600 units has been given to the buyers and 450 units will be delivered soon in its last phase. Source: Nirala World INDIA

Haryana Revises Project Licensing Rules to Enhance Transparency

1/27/2025 12:58:00 PM

Chandigarh: In a bid to facilitate the colonisers and also ensure safety of home buyers, the Haryana's town and country planning department has changed the conditions for granting the licence for a project. As per the old rules, the department first assessed the financial capacity of the builder at the time of issuing the letter of intent (LoI). The financial strength of the builder was examined once again before the issuance of the licence. These rules came into existence in 2012, and later in 2018, the department made some changes to the norms. The existing rules were further amended on Jan 13, and supersede the previous guidelines, according to an internal communication of the department. Department officials said earlier, the builder had to go through the same exercise twice and there were instances where the title of the land changed between the period of issuing the LoI and the licence. This impacted the credibility, they said. Now, the builder will be asked to furnish the details regarding financial capacity only ahead of getting the licence. The company or builder must prove that its financial capacity was more than the cost of the entire project. In the case of shareholding, the company's financial capacity should match its paid-up capital. "Our priority is to facilitate the home buyers as well as the project holders. We have to protect the interests of both. Adopting a dual system sometimes delayed the scheduled start and completion (of the project). Now, at least the time taken to scrutinise the project and the builder will be reduced. The rest of the terms and conditions remain unchanged," said a senior official of the department. In the case of collaboration, the financial capacity of collaborators shall also be calculated, said the official. This will be in addition to the close monitoring of the strategy adopted by companies for fund generation as well as the sale of project units, the official added. Chandigarh: In a bid to facilitate the colonisers and also ensure safety of home buyers, the Haryana's town and country planning department has changed the conditions for granting the licence for a project. As per the old rules, the department first assessed the financial capacity of the builder at the time of issuing the letter of intent (LoI). The financial strength of the builder was examined once again before the issuance of the licence. These rules came into existence in 2012, and later in 2018, the department made some changes to the norms. The existing rules were further amended on Jan 13, and supersede the previous guidelines, according to an internal communication of the department. Department officials said earlier, the builder had to go through the same exercise twice and there were instances where the title of the land changed between the period of issuing the LoI and the licence. This impacted the credibility, they said. Now, the builder will be asked to furnish the details regarding financial capacity only ahead of getting the licence. The company or builder must prove that its financial capacity was more than the cost of the entire project. In the case of shareholding, the company's financial capacity should match its paid-up capital. "Our priority is to facilitate the home buyers as well as the project holders. We have to protect the interests of both. Adopting a dual system sometimes delayed the scheduled start and completion (of the project). Now, at least the time taken to scrutinise the project and the builder will be reduced. The rest of the terms and conditions remain unchanged," said a senior official of the department. In the case of collaboration, the financial capacity of collaborators shall also be calculated, said the official. This will be in addition to the close monitoring of the strategy adopted by companies for fund generation as well as the sale of project units, the official added. Source : Times of India INDIA

DLF’s Q3 FY25 Net Profit Jumps by 61.46%

1/25/2025 12:13:00 PM

Realty major DLF on Friday reported a 61 per cent year-on-year (Y-o-Y) increase in its consolidated net profit for the third quarter of the current financial year (Q3FY25) at Rs 1,058.73 crore, up from Rs 655.71 reported in Q3FY24. DLF’s revenue from operations grew marginally by 0.5 per cent to Rs 1,528.7 crore in Q3FY25 from Rs 1,521.2 crore reported in Q3FY24. On a sequential basis, the Gurugram-based realtor’s net profit fell by 23 per cent and revenue by 22 per cent from Rs 1,381.2 crore and Rs 1,975 crore recorded in Q2FY25, respectively. The net profit growth can be attributed to the company’s performance in development and rental businesses. DLF stated that its development business continued its growth trajectory in the ongoing quarter, after delivering record new sales bookings of Rs 12,093 crore in Q3FY25. “Our latest super luxury offering, The Dahlias in DLF 5, Gurugram, performed exceptionally well, garnering Rs 11,816 crore of new bookings in the opening quarter,” the company added. The company added that the overwhelming response to its new offering has resulted in the company surpassing its annual guidance. For its rental business, DLF said that development of subsequent phases of Downtown, Chennai, and Downtown, Gurugram, totalling around 11 million square feet (msf) remains on track. “Our ongoing projects, including Atrium Place in Gurugram and three retail malls are expected to be completed soon with rents commencing in the next financial year,” it added. The operating cash surplus generated during Q3FY25 was Rs 1,850 crore. Consequently, the net cash position stood at Rs 4,534 crore at the end of the period. The company posted its results after market hours. On Friday, DLF’s stock fell by 2.80 per cent, ending the day’s trade at Rs 695.05 apiece on the BSE. Source : Business Standard INDIA

SWAMIH Fund Achieves Milestone of 50,000 Homes Completed Since 2019

1/25/2025 12:12:00 PM

The Special Window for Affordable and Mid- Income Housing (SWAMIH) investment fund has achieved a milestone by completing 50,000 homes and aims to deliver 20,000 homes every year for the next three years. Funded by the finance ministry, the fund is designed for debt financing of stressed and brownfield residential properties. It was set up in 2019 and is managed by SBICAP Ventures Ltd, a State Bank Group company. It has no precedent or comparable peer fund in India or in the global markets. "Milestones achieved: 50,000 homes completed under SWAMIH Fund. Transforming lives of homebuyers in stalled projects, redefining impact investing and setting benchmark in real estate," SBI Ventures said in a post on X. The fund has raised Rs 15,530 crore so far with the aim of providing priority debt financing for the completion of stressed, brownfield, and Real Estate Regulatory Authority (RERA)- registered residential projects that fall in the affordable and mid-income housing category. The target corpus of the fund was Rs 12,500 crore, with a green shoe option of Rs 12,500 crore. The fund achieved its first close with a capital commitment of Rs 10,037.5 crore and its final close with a capital commitment of Rs 15,530 crore on 6 December 2022. The sponsor of the fund is the Secretary, Department of Economic Affairs, Ministry of Finance, Government of India, on behalf of the Government of India. Since the fund considers first-time developers, established developers with troubled projects, developers with a poor track record of stalled projects, customer complaints, and NPA accounts, and even projects with litigation issues, it is regarded as the lender of last resort for distressed projects. A study by PropEquity, commissioned by SBI Ventures Ltd in 2019, estimated that about 1,500 projects with 4.58 lakh housing units were stalled or stressed and required aggregate funding of Rs 55,000 crore to complete the stalled projects. In the upcoming Union Budget, real estate players expect increased fund allocation for stressed projects through the SWAMIH fund to improve liquidity in stressed residential developments. Sharad Mittal, Founder & CEO of Arnya Real Estates Fund Advisors, said that on the financing front, developers seek easier access to credit and lower interest rates to ease liquidity challenges. “Policies can be outlined for priority financing for affordable housing projects to incentivise the developers to take up such projects and bridge the demand-supply gap. Further investment through schemes such as SWAMIH (The Special Window for Affordable and Mid- Income Housing) to enable the completion of stuck projects will instil confidence in buyers to make purchase decisions,” stated Mittal. Source : The New Indian Media INDIA

EFC (I) Reports a 91.71% Surge in Net Profit for Q3 FY25

1/24/2025 11:52:00 AM

NEW DELHI: EFC (I) has reported a growth of 91.71 per cent in its net consolidated profit during the quarter ended December 31, 2024. Its profit after tax stood at Rs 40.47 crore in Q3 FY25 as against Rs 21.11 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at Rs 181.50 crore in Q3 FY25, a growth of 4.50 per cent from Rs 173.68 crore it recorded in the similar quarter later year. In its rental segment, assets under management (AUM) exceeded 2.6 million sq ft across 70 sites, with a seating capacity over 57,000 and an average occupancy rate of 90%. Rental revenue grew to Rs 96.34 crore, a 31% year-on- year increase, with 5,650 seats added during the quarter. EBIT for the vertical increased by 157% year-on-year. The design and build vertical executed projects totalling over four lakh sq ft and the total project pipeline stands at Rs 92 crore, with Rs 32 crore completed and Rs 60 crore in progress. Revenue increased by 51%, with a 27% growth in EBIT. Its furniture division delivered Rs 13.33 crore in revenue from completed projects, with Rs 2.65 crore in progress. Rs 8.57 crore worth of projects are slated for completion within 30 days and Rs 14.35 crore within 30–60 days. The company recently acquired 4,07,897 equity shares of MPF Systems (formerly known as Mather and Platt Fire Systems) through preferential allotment representing 15% paid- up capital. The stake has been acquired through the corporate insolvency resolution process (CIRP) as the resolution plan of EFC (I) was approved by the COC and NCLT. Source : Economic Times INDIA

Ghaziabad Development Authority to Propose Compulsory Structural Audits for High-Rise Buildings

1/24/2025 11:51:00 AM

Ghaziabad: As the first board meeting of Ghaziabad Development Authority (GDA) this year draws near, it is deliberating on the agenda that will be taken up in the meeting scheduled for Jan 27, with "a compulsory structural audit proposal" topping it. Prior to this, a meeting was called by the Meerut divisional commissioner on Thursday to discuss the agenda. Sources in the GDA said that a compulsory structural audit proposal will be placed before the board. A GDA official said, "According to the proposal, a structural audit of multi-storey buildings will be made mandatory every three years. It will be the responsibility of the developer to ensure the structural audit and in case maintenance is transferred to the apartment owners' association (AOA), the responsibility will be with them. The proposal has listed IITs, NITs and equivalent institutes to carry out the structural audit." The Housing Board earlier adopted the UP govt's structural audit policy, which was implemented. "After the proposal is passed in the board, the GDA will also adopt the policy, which will go a long way in ensuring the structural safety of buildings and also fixing accountability on the maintenance body," the official said. The structural audit policy is based on two major defects of construction, which will be classified under major and minor defects. "Under major defects, cracks in the foundation of the building or cracks in walls or floors will be considered, while under minor defects, peeling off plasters, etc., will be considered. If in the structural audit the fault is major in nature, the maintenance agency will have to get it rectified within six months, and the work has to commence within one month. If the defect is minor in nature, it has to be rectified within six months, and the cost will have to be borne by the maintenance agency," the official said. Ashish Kumar of Supertech Icon Society in Indirapuram said, "There have been instances when the structure of a building weakened, resulting in the peeling of plasters and cave-ins of ceilings, causing injuries. The developers, on their part, absolves themselves of any such incidents once the handover is made, and RWAs or AOA many times dither in getting such structural defects rectified because of cost involvement." "On a major level, I am not aware of a robust mechanism to deal with structural issues of a building, but a proposal of this nature with such salient features, where accountability is fixed and rectification will have to be done within a stipulated time, will serve the purpose," Kumar said. The fact that Delhi-NCR comes under seismic zone-4 makes such structurally deficient buildings prone to earthquakes, so a compulsory structural audit of a building on a regular basis is very important, he said. Source : Times of India INDIA

Mohali Development Authority Clears Unauthorized Constructions in Nayagaon For Better Urban Planning

1/23/2025 11:13:00 AM

Mohali: Greater Mohali Area Development Authority (Gmada) demolished 40 unauthorised under-construction structures in Nayagaon on Tuesday. The demolition drive was organised in two illegal colonies at Karoran village, Majri tehsil, near Nayagaon. Around 30 to 40 structures were razed during the operation. The enforcement action was undertaken by the office of the district town planner (regulatory), Gmada, on the directions of additional chief administrator. Assistant town planner (ATP) Gagandeep Singh and junior engineer (JE) Kushal Sharma supervised the proceedings. ATP Gagandeep Singh said, "We have many such structures on our target which will soon be demolished. We have zero tolerance for illegal construction and occupation of govt land." Junior engineer (JE) Kushal Sharma said that the initiative was aimed at suppressing unauthorised construction and enforcing regulatory adherence in the vicinity. Residents have been cautioned against investing their savings in unauthorised colonies, as such properties face stringent legal consequences, including demolition. Mohali: Greater Mohali Area Development Authority (Gmada) demolished 40 unauthorised under-construction structures in Nayagaon on Tuesday. The demolition drive was organised in two illegal colonies at Karoran village, Majri tehsil, near Nayagaon. Around 30 to 40 structures were razed during the operation. The enforcement action was undertaken by the office of the district town planner (regulatory), Gmada, on the directions of additional chief administrator. Assistant town planner (ATP) Gagandeep Singh and junior engineer (JE) Kushal Sharma supervised the proceedings. ATP Gagandeep Singh said, "We have many such structures on our target which will soon be demolished. We have zero tolerance for illegal construction and occupation of govt land." Junior engineer (JE) Kushal Sharma said that the initiative was aimed at suppressing unauthorised construction and enforcing regulatory adherence in the vicinity. Residents have been cautioned against investing their savings in unauthorised colonies, as such properties face stringent legal consequences, including demolition. Source : Times of India INDIA

Max Estates and M3M Group Lead Bidding in Noida Authority’s Commercial Land Auction, Promising Future Growth

1/23/2025 11:12:00 AM

The Noida authority on Wednesday said it has sold four commercial plots to different companies, netting a revenue of ₹1,500 crore. The four plots include a small-sized plot in Sector 50, while the three bigger plots are located in other areas that are already developed, authority officials said. The authority launched the plot scheme with eight large plots -- 20,000 square metres or more in size -- on September 9, 2024, and December 5, 2024. It also launched a smaller sized plots scheme -- each plot has an area of less than 20,000 square metres -- between November 30, 2024 and January 1, 2025. “The authority selected the companies that placed the highest bid against the reserve price during the e-bidding process. The authority is likely to issue the allotment letter shortly, after completing all formalities,” said Lokesh M, chief executive officer, Noida authority. The e-bidding process was held on January 21 and 22 , said officials. The authority allots the commercial plots through a competitive bidding process to the applicant that places the highest bid against other applicants in the bidding system. The Noida authority has allotted 41,835.46 square metres of plots in Sector 105 to realty firm Max Estate Limited. And it has allotted 24,000 square metres in Sector 98 to Manglam Multiplex Private Limited, 23,570.92 square metres to M3M India Private Limited in Sector 97; and 812.73 square metre plot to Vertex Construction, said officials. Officials said very few companies showed an interest in the plots, which remained unsold in the earlier schemes. “The rule is that at least more than two firms should participate in the e-bidding system so that the authority earns a profit. And except for these four plots, not enough companies have participated in the bidding process for the other plots. The authority will try to sell the remaining plots in a new scheme that may be launched soon,” said an authority official, asking not to be named. Source : Hindustan Times INDIA

Gurugram: Raheja Developers to be Penalized for not depositing Rs 77 Lakh for Structural Audit

1/22/2025 11:43:00 AM

Gurgaon: Raheja Developers has come under scrutiny for failing to deposit Rs 77.28 lakh for the second phase of a structural safety audit for its group housing projects — Raheja Vedanta in Sector 108 and Raheja Atharva in Sector 109 — in the city. Despite repeated reminders and commitments, the developer has not complied with the payment directives issued by DTPE. Deputy commissioner Ajay Kumar has now recommended stringent measures, including halting the grant of future permissions to Raheja Developers, until the pending payments are made to ensure the compliance. In a letter to DTCP director Amit Khatri, Kumar said, "Raheja Developers may be directed to deposit the said amount in the escrow account and in case of failure, strict action may be taken against the developer or further grant of any permission be stopped till the said amount is deposited by the developer." DTPE Amit Madholia said, "If Raheja Developers continues to defy orders, authorities are likely to escalate the matter, with possibilities of legal action and stricter penalties to safeguard public interest. For now, the residents of Vedanta and Atharva anxiously await resolution and assurance of their safety." The district administration officials stressed that completing the audit is critical to ensuring the safety of thousands of residents. The audits were initiated following complaints from RWAs of these societies, raising concerns about the structural integrity of the buildings. The developer initially issued a statement but later withdrew saying company will take legal advise and comment later. In Sept 2022, the DTP (E) Gurgaon issued memos outlining the terms for the structural audits. The first phase, involving visual inspections, was completed after the developer paid the initial amount. However, Raheja Developers has not deposited the required amounts — Rs 56.87 lakh for Vedanta and Rs 20.41 lakh for Atharva — for the second phase, which includes critical NOT. RWAs of both societies have repeatedly approached the district administration and the DTP (E), demanding action against the developer for delaying the structural audit process. On Dec 3, 2024, a meeting chaired by the DC Ajay Kumar saw Raheja Developers' representatives requesting a 20-day extension to make the payment. Over a month has passed and the developer has failed to deposit the funds. Source : Times of India INDIA

Delhi: ED Sezies Assets Worth Rs 82 Crore in PMLA Case Against MGF Developments

1/22/2025 11:42:00 AM

Gurgaon: The Delhi zonal office of Enforcement Directorate (ED) has provisionally attached immovable properties worth Rs 82 crore owned by MGF Developments Ltd. The action — under the Prevention of Money Laundering Act (PMLA), 2002 — follows allegations of fraudulent transactions amounting to Rs 180 crore by Shravan Gupta, the director of MGF Developments, in a case filed by Emaar India Ltd. "The properties attached are proceeds of crime derived from fraudulent transactions orchestrated by Shravan Gupta through his companies," an ED statement read. The properties that were attached included a 42,364sqft commercial space valued at Rs 50.8 crore at Metropolitan Mall of Gurgaon, and another spanning 33,601sqft worth Rs 31.5 crore in Metropolitan Mall in Saket, Delhi. The case came under ED's scanner based on an FIR registered by the Economic Offences Wing (EOW) of Delhi Police for fraud and other relevant sections. The ED investigation, officials said, revealed that Gupta allegedly siphoned off around Rs 180 crore from Emaar MGF Land Ltd — a joint venture between Dubai-based Emaar PJSC and MGF Developments Ltd. The embezzled funds were allegedly diverted through two shell companies — Nanny Infrastructure Pvt Ltd and Saum Infra Pvt Ltd — under the pretext of providing services to the joint venture. These transactions were carried out with the help of fraudulent and backdated agreements, officials said. The misappropriated funds were linked to two residential projects in the city — Palm Hills in Sector 77 and Imperial Garden in Sector 102. The development of these projects, being built under the joint venture company, were adversely affected after Gupta allegedly diverted the funds. After ED took over the case, Gupta was issued multiple summons, but he did not respond to them, prompting the investigating agency to accuse him of non-cooperation. Gupta is also named as an accused in the high-profile AgustaWestland helicopter scandal and is believed to have left the country. Source : Times of India INDIA

Growing Opportunities for Women in India’s Real Estate Sector

1/21/2025 11:18:00 AM

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

Gurugram Takes Steps to Enhance Accessibility in Residential Areas

1/21/2025 11:17:00 AM

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

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

1/20/2025 11:25:00 AM

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

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

1/20/2025 11:23:00 AM

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

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

1/18/2025 11:13:00 AM

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

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

1/18/2025 11:12:00 AM

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

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

1/17/2025 11:38:00 AM

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

Haryana Government Addresses Concerns Over Illegal Buildings in DLF Areas

1/17/2025 11:37:00 AM

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

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

1/16/2025 11:31:00 AM

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

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

1/16/2025 11:29:00 AM

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

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

1/15/2025 12:03:00 PM

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

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

1/15/2025 12:02:00 PM

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

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

1/13/2025 12:08:00 PM

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

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

1/13/2025 12:08:00 PM

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

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

1/11/2025 11:10:00 AM

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

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

1/11/2025 11:04:00 AM

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

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

1/10/2025 12:12:00 PM

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

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

1/10/2025 12:11:00 PM

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

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

1/9/2025 12:20:00 PM

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

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

1/9/2025 12:19:00 PM

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

Noida authority reclaims floodplain land worth Rs 480 crore from encroachers

1/8/2025 12:04:00 PM

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

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

1/8/2025 11:57:00 AM

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

Chandigarh Municipal Corporation Seeks Private Companies for Property Management

1/7/2025 11:09:00 AM

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

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

1/7/2025 11:08:00 AM

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

Chandigarh Housing Board Ensures Fairness by Addressing License Fee Issues

1/6/2025 11:20:00 AM

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

Noida Authority Seeks State Support for Industrial and IT Growth

1/6/2025 11:18:00 AM

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

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

1/4/2025 11:21:00 AM

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

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

1/4/2025 11:19:00 AM

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

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

1/3/2025 10:44:00 AM

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

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

1/3/2025 10:34:00 AM

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

Chandigarh to Develop New Housing in Manimajra with Land Auction

1/2/2025 11:10:00 AM

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

Jaypee Greens Kosmos Gets Maintenance Services Back on Track in Noida

1/2/2025 11:09:00 AM

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

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

12/31/2024 11:35:00 AM

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

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

12/31/2024 11:34:00 AM

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

How 2024 Influenced Architecture and what to expert in 2025

12/30/2024 11:19:00 AM

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

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

12/30/2024 11:14:00 AM

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

Income Tax Department Raids Real Estate Firm in Zirakpur

12/29/2024 12:17:00 PM

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

New Chandigarh: The Next Real Estate Hotspot

12/29/2024 12:09:00 PM

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

Mohali Takes Action to Ensure Safer and Legal Constructions

12/28/2024 11:55:00 AM

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

Mohali Stremlines Plot Registrations with New Nodal Officer

12/28/2024 11:51:00 AM

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

Ghaziabad to Begin Allotment of Affordable flats Soon

12/28/2024 11:34:00 AM

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

GNIDA Takes Action to Protect Homebuyers in Greater Noida

12/27/2024 11:19:00 AM

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

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

12/27/2024 11:19:00 AM

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

Mohali Civic Body Identifies 97 high-rise Buildings for improvemnent

12/26/2024 11:49:00 AM

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

Delhi Civic Body Ensures Welfare Benefits for Construction workers through Registation

12/26/2024 11:48:00 AM

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

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

12/25/2024 10:59:00 AM

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

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

12/25/2024 10:58:00 AM

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

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

12/24/2024 2:15:00 PM

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

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

12/24/2024 2:14:00 PM

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

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

12/23/2024 12:03:00 PM

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