#RealtyNewsRoundUp: Race Against Time To Finish 20,000 Flat Registries In Noida

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

The stamps and registration department of Uttar Pradesh will work on all the remaining days of this month, except for Holi on March 24, to register the highest number of flats before the stamp duty raise comes into effect from April 1. The task includes over 20,000 pending registries, of which more than 16,000 flats are in the Okhla Bird Sanctuary zone, where registries were not carried out for almost two years now. Gautam Budh Nagar District Magistrate N P Singh said the decision had been taken to ease some burden on home buyers. Read more

 

To tide over its financial crisis, the Haryana Urban Development Authority (Huda) is planning to auction as many as 96 commercial properties in Gurgaon, Dharuhera and Rewari on March 31. The auction is expected to raise around Rs 300 crore, which will be used for development works. Read more

 

Hundreds of allottees of the Delhi Development Authority's (DDA) 1981 Rohini scheme staged a protest at Jantar Mantar claiming that the land-owning agency had not provided basic facilities like electricity, water, sewer at the site despite taking lakhs for the plots. Following the Supreme Court's order, the DDA had started the allotment of plots to the 11,000-odd allottees of the scheme in November last year. Read more

 

Now, some good news if you are planning to take a loan. From April, the cost of taking loans for homes, cars, televisions and washing machines is likely to become cheaper, regardless of whether Reserve Bank of India Governor Raghuram Rajan cuts interest rates or not. The switchover to the marginal cost-of-funding formula, coupled with sharp cuts in small savings rates, will force lenders to pass on the benefits to customers. Read more