#RealtyNewsRoundup: Parliament Passes Enemy Property Amendment Bill
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The Lok Sabha on March 14 passed the Enemy Property (Amendment and Validation) Bill, 2016. The law denies inheritance rights to the heirs of individuals, who left India for Pakistan and China after partition. The Rajya Sabha gave its assent to the long-pending legislation last week.
The Karnataka government has finally come out with its development rights policy, clearing the way for property development using parcels of notional land that will be available in the form of transferable development right (TDR) certificates. The latest policy brings the curtain down on uncertainties on the use of TDR certificates in Bengaluru and other prominent cities of the state.
Meanwhile, the Bruhat Bengaluru Mahanagara Palike plans to confiscate assets of property tax defaulters. According to a media report, assets of tax defaulters -- this includes articles of furniture, too---- will be confiscated by the municipal body.
A Dubai-based construction company has announced plans to build the world's first 3D-printed skyscraper. The company, named Cazza, has confirmed that the skyscraper will be built in the United Arab Emirates. The company would be using the crane printing technology to construct the building.