Daily interesting real estate news

China's Kaisa Group aims to present offshore debt revamp plan in Q4 2022

Chinese property developer Kaisa Group aims to finalise an offshore debt restructuring proposal in the fourth quarter after China's party congress in October. Kaisa is working to restructure its offshore debt after missing some debt obligations last year. With $12 billion of offshore debt, it is China's largest issuer of offshore debt among developers after China Evergrande Group.

Goa's IT department takes step towards drawing up policy for co-working spaces

With the state keen on promoting marketing Goa as a co-working destination for digital nomads, the department for information and technology (DoIT) has asked international consultant EY to work on a co-working policy. Khaunte said that DoIT has already identified land at Morjim, Caranzalem and Benaulim where the three co-working spaces will come up on the beach.

Delhi: Covid, construction ban delay Nehru Palace's redevelopment

Delhiites will have to wait for the New Year to get a glimpse of a new-look Nehru Place due to several reasons, including the construction ban due to Covid-19. The work for the redevelopment of the Nehru Place District Centre was started in 2019 by the Delhi Development Authority (DDA) and was expected to be completed by mid-2022, but due to delays, the target deadline has now shifted to January next year.

Lucknow development body seeks expansion of jurisdiction

The Lucknow Development Authority will submit a proposal to the government requesting expansion of its jurisdiction in rural areas of the state capital to check unplanned development. The proposal will be first presented in the board meeting of the housing and urban planning department and then to the government for approval.

Kolkata: Online sanction of building plan in 15 days

Citizens having land not more than 3 cottah will no longer need to apply for a building sanction plan manually to bypass unnecessary delays in getting the construction permit from the Kolkata Municipal Corporation. They can apply online and get the plans approved in 15 days provided the documents that they submit comply with the civic building rules.

Chennai: Water meters planned in every household in five years

In a bid to reduce wastage of water, improve service and fulfill the mandate of the funding agency, World Bank, Metrowater has undertaken the task of metering every household in the city in the next five years. In the first phase, meters will be fixed in 50,000 commercial establishments, multi-storey buildings, apartment complexes and partly commercial establishments by March 2023. An assessment will be done and a metering policy framed.

Mumbai: BMC's stop-work order on redevelopment worries Bhendi Bazaar residents

BMC's recent stop-work notice slapped against India's largest cluster redevelopment project at Bhendi Bazaar pegged at Rs 4000 crore. Construction on the first phase of the work began in 2016 and was completed in 2019, rehabilitating 610 families and 128 businesses in two towers named Al Saadah or prosperity.

Odisha government notifies Rs 270 crore rainwater harvesting scheme

The water resources department has notified the Community Harnessing and Harvesting Rainwater Artificially from Terrace to Aquifer (CHHATA) scheme, which was recently approved by the state cabinet at an investment of Rs 270 crore. Any person owning a building having a roof area less than 200 square metres and not more than three floors in the specified civic bodies will be eligible to apply under the scheme, the guidelines said.

Delhi civic body starts tendering process for digitising 10,000 properties

NEW DELHI: The Municipal Corporation of Delhi (MCD) has initiated a tendering process for digitisation of its 10,000 properties, including maps, documents, and files, in a retrievable format. Officials said that the hard copy/original documents of some of these properties are lying in a deplorable state and their digitisation is a must for future reference.

NA land process for urban areas to be simplified: Maharashtra Deputy CM

Deputy chief minister Devendra Fadnavis said the state government will soon simplify the non-agricultural (NA) process for those in residential zones (yellow) in urban areas. Stating that citizens in urban areas have to make rounds of government offices to seek NA certificates, Fadnavis said the state revenue department will soon evaluate how to simplify the process and work out a system to do away with NA certificates.