Delhi-NCR
Delhi buildings are all set to get more floor area. After Union development minister Kamal Nath declared that development of Delhi would go vertical, the mid-term review of the Master Plan 2021 seems to have put a step forward to realise the vision. Delhi Development Authority (DDA) has invited objections and suggestions for the first [...] Continue Reading »
Around 20,000 property owners from the South Delhi colonies like Green Park, Lajpat Nagar and Hauz Khas are to face criminal charges for not paying the property tax. About 1000 notices were sent to property owners by the property tax department of South Delhi Corporation. Around 30,000 properties in three of the four zones of [...] Continue Reading »
Due to the congestion caused by illegal parking in South Extension, Delhi High Court has directed the South Delhi Municipal Corporation (SDMC) and the traffic police to clap down on illegal parking in markets, lanes adjoining residential areas in the South Extension. A status will be filed by November 23 by the police and the civic [...] Continue Reading »
Gurgaon and Noida are witnessing an increased supply in the studio apartment segment due to strong economic growth. According to industry estimates, the two cities collectively will have around 9,000 studio units delivered over the next 2-3 years. Noida has seen a growing need for studio apartments while Gurgaon is catching up. Noida-Greater Noida realty [...] Continue Reading »
Dharuhera, a satellite town to Delhi, is the new residential destination in the belt. Located 30 km from Gurgaon, Dharuhera has about 70 per cent buyers as end users in FY2013. The buyers are targeting the town due to price advantage and improving infrastructure. A middle income family can get possession of a typical 2BHK, [...] Continue Reading »
Brokerage firm Motilal Oswal says that DLF, India’s largest real estate firm, is one of the major beneficiaries of recent policy reform allowing 51 per cent foreign direct investment (FDI) in multi-brand retail. The recent announcement of 51 per cent FDI in multi-brand retail and relaxation of FDI norms in single brand retail is set [...] Continue Reading »
Union finance minister P Chidambaram has stated that the ministry may soon announce a set of measures to boost the country’s real estate sector. As the realty sector is being hit by the high cost of finance and low availability of housing stock, incentives seem to be in the horizon. The finance ministry is in [...] Continue Reading »
The Rural Development Ministry sought to address the apprehensions of industries and infrastructure sectors surrounding the controversial land acquisition bill. The ministry highlighted that the requirement of consent of all for acquiring land has been diluted and a new provision will apply prospectively and not retrospectively. The Ministry has come out with a statement that [...] Continue Reading »
The Delhi Government has approved the sale and purchase of 320 unauthorised colonies. These lands were regularised earlier this month and will be on sale in a day or two. This decision was taken in a meeting by the Task Force organised to address issues relating to the unauthorised colonies. Chief Minister Shiela Dixit said [...] Continue Reading »
Residents are facing inconvenience due to unmanned gates blocking access to colonies and commuters are forced to take diversion since the gates are locked during the night and often during the day. Azhar Jamal, a resident, said that the unmanned gates do not have security personnel and a request has been sent to the Resident [...] Continue Reading »
