The Maharashtra Housing and Area Development Authority’s (MHADA) Mumbai Repair and Reconstruction Board has will take over redevelopment projects of 165 buildings in island city which are not completed for more than 10 years or so. Last week minister of state for housing Ravindra Waikar chaired the meeting of MHADA officials and local MLAS and in the meeting it was decided that, MHADA will take over these projects and redevelop these buildings.
IIT Madras has been appointed the Indian coordinator for the 'Smart City' working group of Heritage Network, an Indo- European network of 20 higher education leading technical Institutions. The network, which coordinates for international projects on Smart Cities, collaborates on research and academic activities. A 'Smart City working group' was constituted during the 2nd General Assembly Meeting of the Heritage Network held earlier this month to formulate a workable action plan for the Heritage Network consortium. During this meeting, IIT Madras and IIT Kanpur were chosen as the Indian coordinators along with Universidad Politecnica de Madrid (UPM) and KTH Royal Institute of Technology, Stockholm, selected as the European coordinators.
While chief minister Devendra Fadnavis is expecting Rs 10 lakh crore investment during the three-day Magnetic
Maharashtra: Convergence 2018 Summit, the state has lost an investment of Rs 59,260 crore following withdrawal-
closure of 80 special economic zones. A top bureaucrat confirmed to TOI on Friday that in view of ups and downs in the market, out of the 147 SEZs approved by the Centre for the state, 80 proposals have either been withdrawn or de-notified.
Nearly 100 construction workers took out a rally from Kamla Nehru Park near Sadar Bazar till PWD minister Rao Narbir Singh’s residence on Friday morning to protest against mandatory online registration of workers. According to the protesters, many workers do not have means or knowledge for online registration and the state government should give them an option of offline registration, as well. “All workers’ benefits are linked to their registration cards. However, of late, workers are having trouble getting themselves registered or renewing their registrations as the process is online,” said Rajinder Singh, district secretary, Centre of Indian Trade Unions (CITU), Gurgaon.
In a stern warning to those who keep objecting to redevelopment projects in the city, the Bombay high court slammed one set of such “incessant objectors” and barred them from society membership till final possession of the new flats in Wadala. This is the first such order where the court has directed that, though eligible for rehabilitation, a bunch of 30-odd former occupants from among nearly 250 in a row of chawls on a large tract of land in Wadala, cannot be made members of the cooperative housing society unless the project gets completed and everyone is handed possession of permanent new houses. It suggested that a new rule be formulated to deprive such “incessant objectors” from all benefits, including rehabilitation eligibility.
Victims of unauthorised construction not only have the right to get the illegal construction razed, but they can also claim damages suffered due to such structure, by attaching the violator’s properties, Madras high court has ruled. A division bench of Justice M Venugopal and Justice S Vaidyanathan made the observation while hearing a plea moved by Golden Enclave Owners Association, Anna Nagar, Pammal, Chennai.The petitioner wanted the court to direct the commissioner of Pammal municipality to demolish unauthorised structure in the ground floor of their apartment complex constructed in deviation of the planning permission.
More than three years have passed since the housing and urban affairs ministry came out with the draft model tenancy act to bring relief to thousands of commercial property owners in Delhi, Mumbai and other major cities. But there has not been much progress as traders’ lobby in big cities are in favour of status quo. Housing ministry officials said the proposal is in the works, though the the draft was brought out in 2014 to replace the Rent Control Act of 1948 aimed at addressing the difficulties of landlords and tenants. The proposed outcomes include mutual fixing and revising of rent between the landlord and tenant, unlocking the existing properties which can be rented out and faster adjudication.Currently, majority of the commercial property owners in prime locations get rents fixed way back in 1960s.
The Yogi Aditya Nath government has set aside substantial amounts for the metro project and the regional rapid transport system in Ghaziabad, a move aimed at boosting connectivity in NCR. In the budget tabled in the Assembly on Friday, Rs 500 crore has been earmarked for various metro projects in the state, including the under-construction Dilshad Garden- New Bus Stand corridor in Ghaziabad that has been progressing at a snail’s pace apparently because of delay in release of funds by various stakeholders. A sum of Rs 250 crore has also been allocated for the construction of the Delhi-Ghaziabad- Meerut RRTS corridor, which is being undertaken by the NCR Transport Corporation (NCRTC).
Scam-hit Punjab National Bank (PNB) will not be able to raise additional funds by selling its entire stake immediately in PNB Housing Finance, with capital-market rules prohibiting the state-run lender from doing so within three years of listing. The housing finance company, which was listed on November 7, 2016, has a market capitalisation of Rs 20,000 crore, and PNB’s 33% holding in the listed subsidiary would fetch the lender Rs 6,700 crore at current market prices. Punjab National Bank cannot sell the entire stake in the listed mortgage company because of the lock-in until November 7, 2019.
A Dalmia Bharat-Bain Piramal Resurgence Fund consortium leads bids for debt-laden cement maker Binani Cement,
exceeding Aditya Birla-led UltraTech Cement’s offer by a few hundred crore rupees. The consortium has offered to pay more than Rs 6,300 crore for Binani, while UltraTech Cement came a close second with its bid of Rs 6,100 crore, they said. The Dalmia-Bain Piramal offer is a combination of cash and equity with the latter forming a small portion of the total value. However, UltraTech Cement would score higher in the technical and management qualification, experts said.