Mumbai's slums are growing upwards, with shanties transforming into illegal multi-storey structures that defy height restrictions. This unchecked vertical expansion places an immense strain on the city's aging water, sewage, and sanitation systems, leading to potential infrastructure collapse and water shortages. Despite official awareness and promises of action, enforcement remains a...
The company entered corporate insolvency resolution process (CIRP) in July 2023 on a plea by Beacon Trusteeship Ltd. It has two secured creditors-Beacon Trusteeship with Rs 902 crore and 60.54% committee of creditors share, and Assets Care and Reconstruction Enterprise Ltd with Rs 589 crore and a 39.46% share. Source link...
Credai Ahmedabad has requested a six-month extension for housing projects from GujRERA, citing rising construction costs and supply disruptions due to the West Asia conflict. Developers are facing a 10-20% increase in project expenses and material shortages, impacting their ability to meet deadlines. The association seeks relief under force majeure provisions, similar to the Covid-19 period. Source...
India's home interior sector is turning to AI to combat high customer acquisition costs and operational expenses. Companies like Homelane and Livspace are leveraging AI to boost designer productivity and streamline operations, aiming for profitability amidst stiff competition from the unorganized sector. Source link...
Government has replaced the National Building Code with National Building Construction Standards. These new standards are now voluntary guidelines. A significant change is in fire and life safety rules. Previously mandatory, these provisions are now advisory. The height threshold for these rules has also increased. This shift aims for more flexibility and innovation in construction. Source link...