#RealtyNewsRoundup: Exit Policy for Land Defaulters In Noida Soon

Realty News Roundup is PropGuide's selection of top stories from the real estate sector.

Authorities in Noida and Greater Noida have sent a proposal to the Uttar Pradesh government, seeking an exit policy for home buyers who default their property payment. According to officials, the proposal has been sent to Mahesh Kumar Gupta, principal secretary, infrastructure & industrial development, Uttar Pradesh. If the proposal is approved, home buyers could surrender their land to the authorities in lieu of the outstanding dues. Read more

The Federation of Apartment Owner's Association (Fed AOA) has written to Uttar Pradesh Chief Minister Akhilesh Yadav, seeking his intervention in project delays in Noida, Greater Noida and Ghaziabad. The association has also urged the CM to form a special team to keep a check on assets and liabilities of developers who fail to deliver projects on time. Read more 

The government is planning to revive state-run cement factories across the country. The move is believed to bring down road and housing construction costs, apart from pushing growth in infrastructure. Road Transport and Highways Minister Nitin Gadkari has held meetings with Heavy Industries Minister Anant Geete and officials of Cement Corporation of India to work on a detailed project in this regard. A memorandum of understanding between the ministry and the Cement Corporation of India is likely to be signed soon. Read more 

As no bids have been submitted for the Dharavi redevelopment project in Mumbai so far, authorities have extended the deadline to May 20. Read more