To keep you abreast with the recent happenings in the world of real estate, here’s our weekly bulletin.
BANGALORE
BDA to develop 300 more villas
Surprised by the great response for its villa project in the city, the Bangalore Development Authority (BDA) is planning to develop a similar project and has invited tenders to improve real estate. The project will be developed at Dasanapura, off Tumkur Road and will have about 300 premium villas.
Alur Villa project, BDA’s first villa project, had a 90% absorption rate. It offered 104 3BHK duplex villas sized 1,800 sq. ft. at Rs 50 Lakh. The new villas, however, will be priced slightly higher.
BDA to rope in private marketing professionals to boost sales
While the villa project received a positive response, the BDA is struggling to find buyers for its flats. At present, there are over 2,000 unsold flats across the city. To clear this huge inventory, the authorities have now decided to rope in private marketing professionals. The town planning authority has invited bids for the project.
Show-cause notice to 99 apartments
The Karnataka State Pollution Control Board (KSPCB) has issued show-cause notices to 99 apartments in the Bellandur catchment area. These projects are under the scrutiny of the authorities for releasing sewage into the Bellandur and Varthur lakes.
These apartments are required to set up their own sewage treatment plants (STPs) by December 2018. KSPCB is yet to make the list of such apartments public.
CHENNAI
TN registration department switches to offline registration
Just two days after announcing the launch of online registrations, the Tamil Nadu registration department was forced to switch back to manual registration after several technical glitches.
Over 50 more projects registered with TNRERA
In January, about 52 residential projects were registered with the Tamil Nadu Real Estate Real Authority (TNRERA). Out of the 52 projects, over 50% are situated in Chennai, Kanchipuram, and Thiruvallur districts.
HYDERABAD
Hyderabad raises Rs 200 Crore for Smart City project
To support the Smart City mission, the Greater Hyderabad Municipal Corporation (GHMC) has raised Rs 200 Crore by selling muni-bonds. Greater Hyderabad has a road network of more than 9,000km and the government is now widening roads and building flyovers to improve connectivity and infrastructure in the city.
Telangana’s first integrated township to come up at Tellapur
The first integrated township in Telangana will soon come up at Tellapur. Spread across 100 acres, it is being developed by Tellapur Techno-City Project Limited (TTPL) in association with Hyderabad Metropolitan Development Authority (HMDA).
Now file online reports on illegal structures in Hyderabad
Citizens in Hyderabad can now report any illegal or unauthorised construction activity to the Hyderabad Metropolitan Development Authority (HMDA) online. HMDA has launched an online facility called Unauthorised Construction and Layouts Information System. If the information provided is proved right, the authorities will issue a notice to the builder and take appropriate action.
2BHK scheme update
Work on GHMC’s 2BHK scheme is expected to be completed over the next six months. The authority has identified 102 locations where culverts have to be widened.
Further, the foundation for 2BHK houses in Secunderabad Cantonment was also laid recently. Under the scheme, a total of 368 houses will be constructed at Sri Ram Nagar and Gandhi Nagar, while 536 will be built in Old Maredpally. The government will spend about Rs 9 Lakh on each house.
MAHARASHTRA
Maharashtra doubles FSI to attract private players
To attract private players to develop small land parcels under the integrated industrial area policy, the state government has doubled the Floor Space Index (FSI) for such projects. Further, a 50% relaxation in stamp duty has also been offered.
Corporators seek expansion of Smart City project ambit
In a proposal presented before the Pune Municipal Corporation’s standing committee, the corporators have proposed to include more areas under the purview of the Smart City project. As of now, the Pune Smart City Development Corporation Limited (PSCDCL) has taken up Aundh, Baner, and Balewadi for the initial plan.
One comment