Latest Real Estate News from India

  • Hyderabad: Govt. to spend Rs 50,000 crore on infra upgrades
    Telangana government has plans to infuse a sum of Rs 50,000 crore to uplift the infra status in Hyderabad in the next five years. KT Rama Rao, Minister for Urban Development and Municipal Affairs (MA&UD) has shared that the fund would be utilised for the development of the Hyderabad Urban… Read more »
  • Nagpur civic body to levy triple tax on buildings without OC
    The Nagpur Municipal Corporation (NMC) has proposed a penalty of threefold property tax on residential structures lacking the Occupancy Certificate (OC). As the Nagpur Municipal Corporation (NMC) plans to levy threefold property tax on residential structures lacking the Occupancy Certificates (OCs), it may affect as many as 90 percent of the buildings… Read more »
  • Mumbai: Authority commences work on a new underground metro corridor
    The Mumbai Metropolitan Region Development Authority (MMRDA) has begun the construction of 3.1 km-long new Metro Line 7A. The proposed metro corridor would comprise two stations and would connect Line 7 with the Chhatrapati Shivaji International Airport. The Mumbai Metropolitan Region Development Authority (MMRDA) has commenced the development of the Metro… Read more »
  • PMAY progress report: Centre approves 93 percent of total housing units
    The Central Government has approved around 93 percent of the total planned housing units under the Pradhan Mantri Awas Yojana-Urban (PMAY-U). By far, as many as 1.03 crore housing units have been sanctioned across the country under the said scheme. To provide affordable pucca houses to the homeless population of… Read more »
  • Ahmedabad: Over 4.6 lakh properties registered in last two years
    Ahmedabad witnessed registration of over 4.6 lakh property and land deals between February 2018 and February 2020. While the number of listings in 2018 was 2.31 lakh, it increased by 0.34 percent, i.e. 2.33 lakh in 2019. Despite the overall slowdown in the real estate market, Ahmedabad observed as many… Read more »
  • Environment Ministry proposes new norms for clearance of realty projects
    The Ministry of Environment, Forest and Climate Change (MoEFCC) has drafted the Environment Impact Assessment (EIA) notification 2020 to curb the construction violations across the country. The new draft would replace the EIA notification 2006. The Ministry of Environment, Forest and Climate change (MoEFCC) has proposed a new set of… Read more »
  • Hyderabad: GHMC to table new reform to add 50 more wards
    The Greater Hyderabad Municipal Corporation (GHMC) has decided to increase the number of municipal wards in Hyderabad through delimitation process. An Act in this regard is expected to be passed soon. Amid the preparations to roll out a new reform, the Greater Hyderabad civic body, GHMC has plans to add 50… Read more »