Amendments
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 »
In the recent 2012 annual budget, Rs 20,231.04 lakh was approved to Varanasi Development Authority (VDA). With the follow up of this, the vice chairman of VDA RP Goswami declared saying that Rs 17 crore aide will be given by state government for selling plots and buildings. Also, during the year 2011 VDA had planned [...] Continue Reading »
Residents of island city, Mumbai get set and ready to pay extra power tariff! There will be power tariff hike by 30 percent if BEST’s tariff proposals are accepted. Overall the monthly power bills of about 10 lakh power consumers in the island city will have to bear the burnt of this hike. Recently, BEST [...] Continue Reading »
As an initiative to increase affordable housing in the city, Maharashtra Government has made 20% of land mandatory for the same. The step has been taken keeping in mind to provide housing for economically backward classes and low income group people. Reservation of land would be done only on a 2,000 square meter of land. [...] Continue Reading »
Hyderabad realty sales went on pretty good during the year 2011. However, the city realty sales are no more the same; as the realty construction is on halt and the land sales have dropped down completely. The government order (GO 86) restrictions had paused building constructions in the congested zones in the city. Meanwhile the [...] Continue Reading »
The amendments in the prevention of Money-laundering Act is on the pace of getting approved in the parliament. Once it is approved by the parliament, realty defaulters, you have a tough time ahead! The realty norms are getting more and more tough. With the amendments made in the act, the criminal realty dealings is sure [...] Continue Reading »
Regularization of illegal buildings is growing in a rapid pace in Kolkata (Calcutta). To clear all the pending regularization issues, the state Assembly recently passed a bill to regularize the buildings constructed on the green as well as on the open space. Until now the bill had not encouraged the reduction in the regularization fee [...] Continue Reading »
Banks will now be relieved if the amendments to the Sarfaesi laws is done very soon! Under the proposed amendments in Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Sarfaesi), banks wil now be allowed to seize the defaulter borrower’s property in any case. They can even buy the asset [...] Continue Reading »
What is money laundering law? Money laundering is considered as a serious threat to whole of the global financial systems as it involves disguising of financial assets which will be later on used without detection of the illegal activity that produced them. The whole idea of money laundering is to transform the monetary proceeds into [...] Continue Reading »
The new Bill introduced in lokh sabha will soon be giving provisions for the banks to accept the immovable properties. Banks and financial institutions in New Delhi at present are not empowered to accept immovable property in concern against the defaulting borrower. The amendments will be made accordance with The Enforcement of Security Interest and [...] Continue Reading »
