#RealtyNewsRoundup: Extra FAR For Developers Building Housing For Poor

Description

With a special thrust given to affordable housing under the Pradhan Mantri Awas Yojna (PMAY) , the government is likely to incentivise developers who construct dwelling units for poor with extra floor area ratio (FAR) . Moreover, in another proposal developers could also be provided with land to develop high-end apartments in one part of the city, if they construct a complex of affordable houses in another location.

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In a move to mobilise funds for the Rs 34,000-crore mega loan waiver, The Maharashtra government may now increase rent and lease rates on government land as well as monetise large tracts that currently fetch little revenue. In a recent development, it was observed that the lease rents on government land have not been renewed for a long period. There were also reports of organisations flouting the lease conditions, too.

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The Pune Cantonment Board has launched an online portal to collect property tax online from residents and business owners. The assesses will be able to pay the property tax using various online payment methods, including credit and debit cards and net banking.

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The real estate arm of Adani Group, Adani Realty, is planning to sell its commercial office building in Mumbai's Bandra Kurla Complex. The complex called Inspire BKC has been valued at around Rs 2,000 crore.

Source: Media reports