Hubtown Limited

It was in 1993 when Noida was declared a no-power-cut zone. Two-and-a-half decade later, those living in the city end up witnessing regular power outages that may run as long as eight hours. Now, all the wires are going underground in Noida, something that would limit the scope of power cuts to almost nil.

In order to cater the increasing demand for loans for affordable housing, Dewan Housing Finance (DHFL) is going to raise Rs 3,000 crore through a non-convertible debenture (NCD) issue. These equity issues will have subscription limit of up to Rs 9,000 crore, taking the total fundraising to Rs 12,000 crore.

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has fined the developer of the Bhagtani Serenity project at Powai in Mumbai, JVPD Properties Private Limited, for failing to deliver the project on time. It penalised the developer with a sum of Rs 7.10 crore along with an interest of 15 per cent to be paid to 21 homebuyers. The buyers, who the developer referred to as only investors, had booked apartments under the project during 2013 and 2015 but only received a letter from the developer citing approval related delays as a reason.

The Pune Municipal Corporation launched Urban Street Design Guidelines for areas falling under the city limits in 2016. These set ground rules were formed to ensure appropriate street types and street designs. Two years into the program, Pune has won accolades from the experts as well as the central government for executing the project. So far, work on the JM Road, Bhonde Colony and the Tilak Road have been completed while the congested stretches of the Laxmi Road, the Bajirao Road and the Kumthekar Road are next in the queue.  

Those living in high-rises of Noida have a reason to cheer. Soon, property owners in high-rises will get individual electricity connections. Currently, power connections are provided to the developer of a project by Paschimanchal Vidyut Vitran Nigam Limited (PVVNL). In case the builder fails to pay the power bill within the set timelines, flat owners end up paying a penalty, or losing supply, in the worst case scenario.