#RealtyNewsRoundup: MahaRERA Maps 4,500 Registered Projects Under GIS

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The Maharashtra Real Estate Regulatory Authority or MahaRERA has mapped over 4,500 registered projects under the Geographical Information System. This will enable homebuyers to have a micro view of the project through maps and make a guided choice. So far, 16,000 properties have been registered with MahaRERA.

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For the construction of the 48 stations on the Phase-II of the Chennai Metro, the Chennai Metro Rail Limited has identified 800 properties, to which notices will be issued for land acquisition. So far notices have been issued to nearly 410 owners who have properties along the alignment planned for 19 stations on the 107.55-km corridor. 

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The state-run construction company, NBCC, has received a clearance from the environment ministry for the Sarojini Nagar’s redevelopment project. Over 18,000 apartments will be constructed at an estimated cost of Rs 11,660 crore. It was earlier that a controversy had emerged against NBCC for felling of over 16,500 trees in three of the redevelopment colonies in south Delhi. 

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Coming as a big relief for traders, now the conversion charges under the Delhi Master Plan 2021 will be a one-time affair. Earlier, the traders had to pay an annual conversion fee. Under the new amendment, the traders who have paid an annual charge for 10 years are exempted. However, they will have to pay the newly added charges for using the basements.

Source: Media reports