Jan 20 2025
Allahabad HC asks Noida authority to start registry of Meghdutam housing project
The Allahabad high court has asked Noida Authority to proceed with flat registrations at Meghdutam housing project in Sector 50, offering relief to many residents who have waited years for property documents despite making full payments. A division bench of Justices Manoj Kumar Gupta and Anish Kumar Gupta issued the interim order on Jan 15, responding to a petition filed by 19 residents. The court instructed the Authority to execute the registries based on an occupancy certificate issued a decade ago. It also asked the Authority to simultaneously pursue the recovery of dues from TGB Infra Developer the builders. The bench criticised the Authority's lack of concrete action in recovering the outstanding amount from the company. It noted that Anil Kumar Saha — one of the directors at TGB Infra — held the post in 39 other active real estate companies, which provided the Authority with ample avenues for the recovery of dues. It then scheduled the next hearing for Feb 6. The Meghdutam project, comprising 173 units across 12,750sqm, was allotted to TGB Infra in 2008. According to Authority's records, its outstanding dues stood at Rs 55.3 crore initially, but were reduced to Rs 43.7 crore after the two-year zero waiver under the state govt's rehabilitation package. But the developer did not opt for the policy.The Authority had previously issued multiple notices to TGB Infra between May and Aug last year, threatening to cancel allotment of land. In May 2024, it displayed a notice regarding unpaid dues at the project's entrance. In Oct, it warned the developer about referring its case to the Economic Offences Wing if the dues remained unpaid.
Jan 18 2025
Maharashtra government to revise ready reckoner rates in next fiscal
The state govt is likely to revise and raise the ready reckoner rate (RRR) the state's benchmark for property valuation — in the financial year 2025-26. Sources hinted at a possible upward revision following discussions between the finance and revenue departments earlier this week, senior revenue officials told TOI on Friday. The proposed revision comes after rates remained unchanged for three years and it aimed to bolster the state exchequer following the launch of several welfare schemes — including the Ladki Bahin Yojana and its proposed subsidy increase to be implemented in April. Officials attending recent departmental meetings suggested implementing GIS mapping for more accurate valuations and also taking a cue from similar exercises in Karnataka, Madhya Pradesh and Tamil Nadu. The revenue target has also been revised from Rs55,000 crore in the current fiscal to Rs66,000 crore in fiscal 2025-26, sources said, adding, "The revenue target of Rs55,000 cr for the current fiscal may undergo revision to Rs60,000 cr. Developers have opposed the increase in RRR and said it would affect market buoyancy by making property more expensive. Associations have been requesting that RRR not be hiked since it would come at a time when the realty sector is buoyant. Already a 1% metro cess on stamp duty is being collected.
Jan 17 2025
Prime minister to distribute 65 Lakh SVAMITVA property card on January 18
Prime Minister Narendra Modi will on Saturday distribute more than 65 lakh property cards under the SVAMITVA Scheme, the Panchayati Raj Ministry said. According to senior officials of the ministry, beneficiaries from more than 50,000 villages in 10 states -- Chhattisgarh, Gujarat, Himachal PradeshMadhya Pradesh, Maharashtra, Mizoram, Odisha, Punjab, Rajasthan, and Uttar Pradesh and two Union Territories -- Jammu and Kashmir and Ladakh -- will receive the cards. SVAMITVA, a scheme of the Ministry of Panchayati Raj, provides a 'Record of Rights' to village household owners with the issuance of legal ownership cards to the property owners by mapping land parcels using drone technology. The prime minister will preside over the event through videoconferencing, where he will interact with selected beneficiaries and also deliver a nationwide address, the ministry said in a statement. The scheme aims to provide an integrated property validation solution for rural India. The demarcation of inhabited land in rural areas would be done by the use of drone technology with the collaborative efforts of the Ministry of Panchayati Raj, State Revenue Department, State Panchayati Raj Department, and Survey of India.
The outcome would include creating and updating the 'Record of Rights' in the revenue registers and issuance of property cards to the owners. So far, 31 states and Union Territories have joined the scheme. Of these, Sikkim, Telangana and Tamil Nadu had participated only in the pilot phase. West Bengal, Bihar, Nagaland, and Meghalaya have not joined the scheme.
Jan 12 2025
Madras HC forms SIT to probe illegal sand mining in Kovai
Madras high court has constituted a special investigation team (SIT) comprising two IPS officers to probe the illegal sand mining by brick kilns operating near the reserve forests of Coimbatore. A special division bench appointed G Nagajothi, superintendent of police, State Crime Records Bureau, Chennai, and F Shashank Sai, SP, Organised Crime Intelligence Unit as members of SIT. The court directed the team to begin its investigation into the cases already registered by police and to register fresh cases if it came across a larger conspiracy that resulted in the creation of massive trenches near the forest areas, putting wild animals in danger. The court further directed the district authorities to obliterate illegal bridges and roads put up by the illegal miners and restore all water bodies in the area to their original form.
Jan 08 2025
Survey for land acquisition for Coimbatore metro project to begin soon
The survey for land acquisition for the Coimbatore Metro Rail project will commence shortly, said Coimbatore Corporation Commissioner M Sivaguru Prabakaran after a coordination meeting held on Monday with representatives from Chennai Metro Rail Limited (CMRL), the National Highways Department, TNEB, the Local Planning Authority, and the Survey Department. The meeting focused on land acquisition, station locations, and route alignment. CMRL plans to establish its project office within the corporation office campus. Officials are also considering a suitable location on Dr Nanjappa Road. The commissioner said they requested CMRL officials be deputed for the project in Coimbatore. This move will ensure better coordination between deparments. The corporation has asked CMRL to bear the cost of the survey for land acquisition. "CMRL will deposit the required amount with the corporation. Once the funds are received, we will conduct the survey. The survey will involve mapping the land, identifying utilities, and planning for utility relocation. After the survey, officials will determine the land required for the project. CMRL officials inspected the Gandhipuram and Ukkadam bus stands on Monday. The inspection covered areas along the proposed metro rail route. CMRL plans to acquire land along Avinashi Road and the Coimbatore-Sathyamangalam Road in March. This acquisition is part of the first phase of the metro rail project. The metro rail track in this phase will cover a total length of 34.8km. The first phase includes two corridors. Corridor-I will connect Ukkadam Bus Stand to Neelambur Integrated Station via the airport, covering 20.4km. Corridor-II will link Coimbatore Railway Junction to Valiyampalayam Pirivu, spanning 14.4km.
Jan 06 2025
Over 100 maps forged to legalize coast properties in Mumbai SIT
A special investigation team (SIT) formed following a Bombay high court order has said it has unearthed a land scam involving large-scale tampering of property records to convert Coastal Regulation Zone (CRZ) and No Development Zone (NDZ) lands into developable plots along the Mumbai coastline. Four people including two former govt employees were arrested last week for the scam linked to at least 102 property maps along the coast. In all, 18 govt staff from BMC and land records section have been summoned for questioning. The scam allegedly involves estate agents, govt staff and contractors who altered land records in Marve, Madh Island, Versova and other ecologically sensitive spots. The manipulation was first flagged by a farmer from Erangal in Malad, Vaibhav Thakur, who owns ancestral farm land. He had an FIR registered at Goregaon police station in 2021 against illegal constructions on his plot and adjoining lands. Thakur found that govt records had been forged to classify CRZ and NDZ plots as developable zones. However, authorities including BMC and Goregaon police failed to make much headway. Subsequently, deputy superintendent of land records Nitin Salunkhe lodged another FIR in 2021. He said maps and documents were forged between 2012 and 2020 to regularise illegal constructions in eco-sensitive zones. They were booked for forging records in connivance with officers from BMC and the Land Records Department. "Illegal construction on CRZ and NDZ lands have severely impacted ecological balance and caused huge revenue loss. A total of 18 officials from BMC and Land Records election process investigations were delayed,'' said a senior police official.
Jan 03 2025
Leading stock exchanges have approved the merger of three subsidiaries into a major cement company. Under the amalgamation scheme, the three subsidiaries are being integrated into one consolidated entity focused on cement and cement-related products.
The exchanges issued observation letters under the Listing Regulations with no objections to the proposed scheme. The merger had earlier been approved by the company’s board, with the aim of simplifying the group structure and creating a commercially stronger single entity.
Under the terms of the merger, shareholders of one of the subsidiaries will receive a proportionate number of shares in the combined company. The stock exchanges have also directed the parties to disclose all necessary details before the National Company Law Tribunal.
The merged entity has ongoing strategic expansion projects totaling 10.80 MTPA, which are scheduled for completion by FY27.
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