New Delhi
New Delhi- Owing to delay in initiating projects, prices of properties in India have shot up by 40 percent, reports Economic Survey 2013. Before the construction activity of a project has to be started, the builder of the project has to complete 34 procedures to get clearances which would take at least six months time [...] Continue Reading »
The widening of a road in Vasant Kunj has been stayed by a district court on a petition by residents. The residents complained that the construction violates their right over the land and their safety is at risk. The road widening work was done to develop an all new, congestion-free link to the airport and [...] Continue Reading »
New Delhi- With more and more number of green buildings sprawling across the country, the environment ministry has decided to relax the green building norms in an attempt to foster which has been impacted with the high interest rates. A large number of buildings will be de-linked by the ministry as the buildings can come [...] Continue Reading »
New-Delhi- The Phase III metro stations which are being constructed along Ring Road and Outer Ring Road will have no parking area as space is premium in these localities. They will instead have designated pick-up and drop-off points at every station. According to a Delhi metro official, line 7 has many stations on the Mukundpur-Shiv Vihar corridor, which is [...] Continue Reading »
New Delhi- Reserve Bank of India (RBI) has softened norms to allow realty firms and brokers to apply for banking licenses. The RBI final guidelines are likely to be announced by February end. According to sources, these guidelines seem to strand reservations for realty firms and brokers. RBI had released draft guidelines in August 2011, [...] Continue Reading »
Delhi-NCR- In terms of commercial real estate, Delhi-NCR is expected to beat other places with mounting real estate rates compared to other prime commercial destinations. Connaught Place in New Delhi stands in the world’s fourth most expensive office location, revealed a recent report by Cushman & Wakefield, which ranks locations across 63 countries to compare [...] Continue Reading »
New Delhi- The Comptroller and Auditor General (CAG) alleged that the Delhi airport Metro link operator is involved in various misdeeds related to the project, flouting government norms and making huge financial benefits. In a draft report, CAG has mentioned that the Delhi Airport Metro Express Line (DAMPEL) has been puzzled with concessions to DAMPEL, [...] Continue Reading »
New Delhi- The new Real Estate (Regulation & Development) Bill proposes that the real estate developers will have to first seek all the requisite permissions and approvals before they set out to announce their projects and get the buyers to sign up. The proposed Housing Bill makes it mandatory for the builders to get permissions [...] Continue Reading »
New Delhi- The highway builder’s apex body, NHBF has written to the Prime Minister seeking to direct NHAI to invite bids only after land acquisition and other clearances are put in place. The letter stated that the sector is going through a difficult phase with a large number of projects yet to achieve financial closure. While [...] Continue Reading »
The opening of Kalindi Kunj Bridge has not only come as a relief for thousands of commuters, but senior Delhi traffic police officers also said that they are relaxed as the situation has become better than before the repairs began. For the last two months, commuters have been facing massive traffic issues across different routes [...] Continue Reading »
