Emami Realty, part of the Kolkata-based Emami Group, plans to invest Rs 100 billion over the next seven years to expand its real estate portfolio. The company aims to develop 22 million square feet of residential and commercial space in major urban centres like Mumbai, Chennai, and Kolkata, with projects also planned in emerging cities like Bhubaneswar and Jhansi. The expansion, expected to unlock Rs 150 billion in revenue potential, will include 19 million sq ft of residential and 3 million sq ft of commercial space, offering a mix of residential, commercial, and mixed-use developments.Contact: Emami RealtyWebsite: www.emamirealty.comTel - +91 7676722222 Govt Allocates 3.8 Million Houses under New PMAY-GRural Development Minister Shivraj Singh Chouhan announced that 3.8 million houses under the Pradhan Mantri Awas Yojana-Gramin (PMAY-G) had been allocated to 18 states this fiscal year, part of the 20 million homes targeted for construction over the next five years. An initial Rs 106 billion has been released for house construction, with Rs 1 trillion spent so far from the allocated Rs 1.84 trillion. In August, the cabinet approved Rs 3.06 trillion to build 30 million homes nationwide over five years, including 20 million under PMAY-G. The government has built 26.8 million of the 29.5 million homes planned this fiscal year.NGT halts Noida projects lacking necessary clearancesThe National Green Tribunal (NGT) has issued an order halting construction in Greater Noida and Noida for projects lacking necessary clearances. This follows a petition alleging illegal construction of houses, shops, and complexes violating environmental regulations. The petition accused developers of extracting topsoil and operating unauthorized borewells. On December 9, the NGT bench, led by Justice Prakash Shrivastava, found certain projects continuing without mandatory approvals like Consent to Establish (CTE), Consent to Operate (CTO), and Environmental Clearance (EC). The tribunal instructed state authorities to prevent construction in such cases and ordered the Pollution Control Board to stop illegal land plotting in floodplain zones.Contact: National Green Tribunal (NGT)Website: www. greentribunal.gov.inTel - 011-23043528GIFT City seeks bids for construction of 754,000 sq ft commercial towerThe Gujarat International Finance Tec-City Company (GIFTCL) has invited global bids for developing a 754,000 sq ft commercial tower in GIFT City's special economic zone. Bidders, including domestic and international companies or joint ventures, must design, finance, construct, and maintain the tower. The project will be leased for 99 years, with construction to be completed within five years. Bidders must have a turnover of at least Rs 3.22 billion in the last three years and a net worth of Rs 1.61 billion. They must also have experience in large-scale projects. Bids are due by January 31, with a pre-bid meeting on December 27.Contact: Gujarat International Finance Tec-City Company (GIFTCL)Website: www.giftgujarat.inBirla buys 71-acre land parcel near Mumbai for over Rs 1.04 billionBirla Estates, a wholly-owned subsidiary of Aditya Birla Real Estate, acquired a 70.92-acre land parcel in Boisar, near Mumbai, for Rs 1.04 billion, according to a stock exchange filing on December 17. Boisar, located in the Palghar district of Maharashtra, is the largest industrial suburb in the Mumbai Metropolitan Region. This acquisition is part of Birla Estates' strategy to expand its real estate portfolio in and around Mumbai. In 2024, the company also purchased a 24.5-acre plot in September from Hindalco for Rs 5.37 million, and a 16.5-acre land in Pune for a Rs 25 billion housing project. Birla Estates is focusing on key markets like Mumbai, Pune, Bengaluru, and NCR.Odisha launches PMAY-U 2.0 drive for urban housingTo improve living standards for urban residents, Odisha’s Housing and Urban Development Department has directed Urban Local Bodies (ULBs) across the state to begin the application process for the Pradhan Mantri Awas Yojana (Urban) 2.0 (PMAY-U 2.0). Gangadhar Nayak, Director of the Odisha Housing Urban Mission (OUHM), has urged ULBs to conduct awareness drives through ward-level camps, banners, hoardings, and audio announcements. Collaborations with Jan Seva Kendras will ensure affordable and smooth application support for citizens. Applicants need Aadhaar cards, income certificates, and land ownership documents. Launched on 17 September 2024, PMAY-U 2.0 aims to deliver affordable housing and underscores Odisha’s commitment to inclusive urban development and quality living standards.Contact: Pradhan Mantri Awas YojanaWebsite: www.pmaymis.gov.inTel - 011-23060484Amaravati, Guntur and Vijaywada emerge as new residential favourites in South IndiaAccording to Magicbricks, property portal, Amaravati, Guntur, and Vijayawada are emerging as the new residential favourites in South India for 2024. Based on the preferences of over 20 million customers, Amaravati (49.10 per cent  YoY), Guntur (38.27 per cent  YoY), and Vijayawada (31.95 per cent YoY) witnessed a significant rise in searches (demand). However, this surge led to a decline in residential supply: Guntur (-22.57 per cent YoY), Amaravati (-6.7 per cent  YoY), and Vijayawada (-18.46 per cent YoY). This mismatch caused notable price increases. In Q3 2024, Vijayawada’s average residential prices rose 20.06 per cent  YoY to ₹5,759 per sq ft, while Guntur and Amaravati saw rises of 3.27 per cent and 3.29% YoY to ₹4,962 and ₹4,470 per sq ft, respectively.Contact: MagicbricksWebsite: www.magicbricks.com Karnataka government scraps town and country planning amendment billThe Karnataka government has withdrawn the Town and Country Planning (Amendment) Bill, citing flaws in its provisions. Urban Development Minister Suresh BS announced the decision in the Assembly, stating the government had identified certain shortcomings, though specific details were not disclosed. The bill had also faced objections from Governor Thaawarchand Gehlot, whose concerns contributed to the decision. Sources within the Urban Development Department revealed that the bill aimed to regularise illegal layouts through a betterment fee. However, the Supreme Court’s stay on the contentious ‘Akrama Sakrama’ scheme, which sought to legalise unauthorised constructions, complicated matters. Legal constraints and the risks of judicial conflict ultimately led the government to prioritise compliance and halt the bill’s progress.UP Government tightens norms for commercial land bidsThe Uttar Pradesh government has revised its guidelines for commercial plot allotments to enhance transparency and accountability. Under the new rules, individual bidders must now independently meet all technical criteria, including net worth, solvency, and turnover, rather than relying on their holding companies' qualifications. This revision follows controversies over land allotments to two subsidiaries of Gurgaon-based M3M Group earlier this year. In May, the state government cancelled plots allotted to Lavish Buildmart and Skyline Propcon due to violations of eligibility terms. Allegations arose that these plots were awarded at non-competitive rates, with minimal bid increases. The updated guidelines aim to eliminate procedural irregularities and ensure fair competition in commercial land allocations.Contact: Uttar Pradesh Government Website: www. up.gov.in MahaRERA recovers Rs 2 bn for homebuyers from realtorsThe Maharashtra Real Estate Regulatory Authority (MahaRERA) has announced the successful recovery of over Rs 2 billion from developers to compensate homebuyers for their losses. The authority also plans to intensify its recovery efforts. MahaRERA issued 1,163 warrants statewide to recover a total of Rs 7 billion, with Rs 2 billion collected from 283 warrants across 139 real estate projects. Rs 3.78 billion is due from Mumbai suburban and Pune, where efforts are underway to expedite recovery, including the appointment of retired Tahsildars (revenue officials) in district collectorate offices. Recovery delays persist in these regions, but MahaRERA's actions are guided by the Real Estate (Regulation and Development) Act, 2016.Contact:Maharashtra Real Estate Regulatory AuthorityWebsite: www. maharera.maharashtra.gov.in