#RealtyNewsRoundUp: Mumbai's Civic Body To Build 1 Mn Affordable Homes On NDZs

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

 

Under Mumbai's revised development plan (RDP) , the city's civic body will build one million affordable homes on eco-sensitive salt pans and lands designated as no-development zones (NDZs) . The total NDZ land available for affordable homes is in excess of 5,000 acres. Read more

India's second-largest business park developer K Raheja Corp plans to build two IT parks with a total of six million sq ft leasable space in Mumbai and Pune. The two projects will developed in next two years. Read more

After a protest by farmhouse owners and objection raised by municipal corporations, the Delhi Development Authority (DDA) has simplified the requirement for low density residential plots (LDRP) in notified villages. Though the policy was notified in 2013, the corporations were not able to clear the new low density residential area (LDRA) projects or regularise existing farmhouses due to the clause. According to the clause, the minimum setback required in case of LDRP was 10 metres on front side abutting the approach road and 5 metres on other three sides. Read more

Realty major DLF formally launched its shopping mall in Noida, Mall of India, on April 27. Being touted as one of the biggest mall in the country, it was built for an investment of Rs 1,800 crore. Read more

A Chandigarh court has awarded three-year imprisonment and a fine of Rs 10,000 each on the two managing directors of real estate firm Unitech. The penalty was awarded for not complying with the Chandigarh Consumer Disputes Redressal Commission's order for returning the cost of a residential unit to a consumer and paying a fine. Read more