#RealtyNewsRoundUp: Farmers Demand Four Times Circle Rate As Compensation For Land Acquisition At Jewar
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Farmers and villagers attending the camps organised for acquiring land for the Jewar Airport in Noida have demanded four times the prevalent circle rate as compensation and all urban facilities in their villages, if their land is to be treated as urban. There are 16 villages in Jewar that have been demarcated as urban areas for developing the international airport.
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The Centre has approved construction of 1.5 lakh houses for the urban poor under the Pradhan Mantri Awas Yojana (Urban) , taking to 47.52 lakh the tally of houses under the programme so far. The latest approval entails an investment of Rs 7,227 crore with Central assistance of Rs 2,209 crore.
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The Securities and Exchange Board of India (Sebi) has imposed a penalty of Rs 10 lakh on real estate major DLF for making wrong disclosures with regard to utilisation of funds raised through initial public offering (IPO) . The regulator conducted an investigation in the script of DLF for the period June-December, 2007, to ascertain any possible violation of the regulation. It found that the company had made wrong disclosures to stock exchanges regarding utilisation of IPO proceeds.
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The Allahabad High Court has stayed the construction of a residential complex by Express Builders in Noida’s Sector 77. The HC has directed that no construction to be carried out on the site until the next date of hearing, July 10. The order was passed on the basis of an appeal made by a homebuyer, who said that the builder had overshot the construction of the tower by five floors beyond the permitted level.
Source: Media reports