#RealtyNewsRoundup: Travelling In Delhi Metro May Get Costlier, Year After Year

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If the recommendations of a Centre-appointed panel are accepted, the Delhi Metro will again increase fares in January, 2019.  The two-phase fare increase that was implemented in May and October this year was recommended by the same panel, headed by M L Mehta.  In its report, the Fourth Fare Fixation Committee (FFC) , constituted under the Metro Railway Act, has also recommended an "automatic annual fare revision", under which commuting tariff will go up by up to seven per cent.

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The Central Bureau of Direct Taxes (CBDT) has asked the taxman to go after taxpayers who have filed a revised income tax return (ITR) after demonetization. The CBDT has told the Income-Tax (I-T) Department to slap a "higher tax rate" in case there is any hint of unaccounted money in such cases. The policy-making body of the I-T Department has issued a two-page directive to all regional chiefs of the department on November 24, suggesting ways to assess cases selected for suspicious financial activity after the note ban.

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The Haryana government has appointed the chiefs of the Real Estate Regulatory Authority (RERA) for its Gurgaon and Panchkula Benches.  While K K Khandelwal has been appointed as RERA chairperson for Gurgaon, Rajan Gupta will hold the post in Panchkula. Khandelwal is an additional chief secretary with the government while Gupta is a retired IAS officer.

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Even as foreign investors, primarily from the Asia-Pacific region, are expecting the country's maiden real estate investment trust (REIT) to be launched in the first quarter of 2018, domestic investors are still in a wait-and-watch mode. According to a survey by PwC and Urban Land Institute, the maiden REIT is likely to be listed towards the end of the first quarter of 2018, providing a long-awaited exit route for investment funds now active in the market or a strategy for those planning to enter the domestic market.

Source: Media reports