+
Central advisory council: real estate stalled project issue
Real Estate

Central advisory council: real estate stalled project issue

The Central Advisory Council expressed hope on Tuesday that the Amitabh Kant-led committee will soon resolve the issue of stalled legacy real estate projects, resulting in the handover of housing units to home buyers.

The committee, which was formed on March 31, must submit its findings within six months of its first meeting.

The panel was formed to investigate all issues linked to legacy halted projects and make recommendations on how to execute them in a timely manner.

Union Housing and Urban Affairs Minister Hardeep Singh Puri raised the issue of delays in executing directives of real estate regulatory authorities in several states during a virtual meeting of the Central Advisory Council (CAC).

"I'm sorry to say that, while RERA (regulatory authorities) can make decisions, final implementation falls to district magistrates (DMs) or deputy collectors." The truth is that the DMs investigate these concerns in addition to other tasks allocated to them, but the good news is that we are pushing them..." he remarked.

The Central Advisory Council expressed hope on Tuesday that the Amitabh Kant-led committee will soon resolve the issue of stalled legacy real estate projects, resulting in the handover of housing units to home buyers. The committee, which was formed on March 31, must submit its findings within six months of its first meeting. The panel was formed to investigate all issues linked to legacy halted projects and make recommendations on how to execute them in a timely manner. Union Housing and Urban Affairs Minister Hardeep Singh Puri raised the issue of delays in executing directives of real estate regulatory authorities in several states during a virtual meeting of the Central Advisory Council (CAC). I'm sorry to say that, while RERA (regulatory authorities) can make decisions, final implementation falls to district magistrates (DMs) or deputy collectors. The truth is that the DMs investigate these concerns in addition to other tasks allocated to them, but the good news is that we are pushing them... he remarked.

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?