NAREDCO urges government to tackle regulatory hurdles impacting real estate growth in cities like Mumbai, Chennai, and Kolkata.
Real Estate DevelopmentAviation ConstraintsUrban PlanningNaredcoAaiReal EstateSep 11, 2024
The height restrictions imposed by aviation regulations have significantly constrained real estate development in urban areas.
NAREDCO has recommended relocating aviation facilities, extending shielding benefits, and conducting aeronautical studies to resolve legal issues.
AAI is responsible for determining areas eligible for shielding benefits and ensuring safe and efficient air travel.
Implementing NAREDCO's recommendations would unlock the potential of cities like Mumbai, Chennai, and Kolkata while maintaining safety standards.
Some of NAREDCO's recommendations have been accepted, but are yet to be implemented, while others are still under consideration.
Kalpataru, a prominent real estate developer in the Mumbai Metropolitan Region, is set to enter the 'Zero Mile City of India' – Nagpur, with a new project located close to the Samruddhi Expressway.
Uttar Pradesh Chief Minister Yogi Adityanath lays foundation stone for IKEA store in Noida, a ₹5,500-crore project set to boost commercial real estate and industrial development in the state.
COWRKS, a leading provider of premium workspaces, has announced its expansion with the opening of new centres in Mumbai and Bengaluru, adding 1.4 lakh sq ft to its total presence across India.
The Gujarat Real Estate Regulatory Authority (GujRERA) has directed all real estate developers in the state to open separate project bank accounts in Gujarat.
A luxury apartment at Lodha Sea View in Mumbai's Worli has been sold for a record-breaking Rs 187 crore. The property's prime location and ongoing infrastructure projects, such as the Mumbai Coastal Road and Metro Line-3, are driving its desirability.
Realty firm Keystone Realtors reports 45% decline in net profit at Rs 25.82 crore for June quarter FY25, citing higher expenses. Total income rises to Rs 437.20 crore during April-June period.