2022-08-31
The Pune Municipal Corporation (PMC) carried out a major drive against illegal structures in the Erandwane and Karvenagar areas, focusing on constructions carried out without proper permissions, including those in the prohibited areas of the green zone. The drive was conducted by the building permissions department. This was the second phase of action against constructions in the green zone of the riverbed near DP Road in Karvenagar.
2022-08-30
Top officials along with the Noida police commissioner inspected the twin tower demolition site as the issue of debris management remained a concern for them as well as residents of nearby societies. Edifice Engineering said it would take 90 days to clear the debris, estimated to be around 80,000 tonnes of concrete, steel and iron. A meeting with residents was held at the Emerald Court society in the afternoon by officials of Edifice Engineering, Jet Demolitions, Central Building Research Institute and the Noida Authority.
2022-08-30
Punjab government will come out with a comprehensive real estate policy to check illegal and haphazard development in urban areas, said Housing and Urban Development. The cabinet minister assured the developers that all their legitimate demands will be considered sympathetically and he will discuss them with the chief minister.
2022-08-30
Realty firm Macrotech Developers Ltd said its board has approved raising of up to Rs 250 crore through the issuance of of listed, rated, secured, redeemable, transferable, non-convertible debentures. The company did not disclose the utilisation of the proceeds of the proposed Non-Convertible Debentures (NCDs) issue. Macrotech Developers has a major presence in Mumbai Metropolitan Region (MMR) and Pune market. The company has recently forayed into Bengaluru.
2022-08-30
SHANGHAI: Agricultural Bank of China Ltd (AgBank), the country's third-largest commercial lender by assets, said that the value of its property bad loans rose 19% in the first half of this year. AgBank's non-performing loan ratio for the sector hit 3.97% at the end of June, compared to the bank's overall NPL ratio of 1.41%, it said.
2022-08-30
Unauthorised colonies outside the city and MC area will now get basic facilities. The district town planning department has issued a list of requirements. If the builder/developer fulfills these, they will get approval for some basic facilities. A 6-month deadline has been given to legalise the illegal colonies. On the classification and criteria for application, the DTP said four categories have been formed.
2022-08-30
The Maharashtra government's City and Industrial Development Corporation (CIDCO) said it had completed the casting of 500 slabs for tenements under the Pradhan Mantri Awas Yojana in just 489 days. The residential complex for which these slabs have been cast is coming up in Taloja node of Navi Mumbai, an official said. We have been able to cast over one slab per day at this site using modern technology, he said.
2022-08-30
The comptroller and auditor general (CAG) of India has said property tax collection had a low efficiency of 53% across urban local bodies (ULBs) in Maharashtra from fiscal 2015-16 to 2019-20, and the BMC was among the worst performers with collection touching barely 28%. Civic officials said BMC's total outstanding property tax was Rs 3,048 crore.
2022-08-30
Municipal commissioner Iqbal Chahal issued a stop-work notice for the 16.5-acre Bhendi Bazaar cluster redevelopment project. The notice came within two days of deputy chief minister Devendra Fadnavis announcing an in-depth inquiry into the project following complaints of change in layout plans affecting road widths.
2022-08-29
US financial services major JP Morgan has picked up over 1.16 million sq ft office space at Nirlon Knowledge Park in Goregaon suburb of Mumbai through a long-term lease of over 10 years with an option of extending the same by additional 10 years. they will be paying rentals of Rs 145 per sq ft a month for the leased office space, taking its payout in the first year alone to nearly Rs 202 crore.
