#RealtyNewsRoundup: Real Estate Bill To Bring Down Property Prices: Venkaiah Naidu
Realty News Roundup is PropGuide's selection of top stories from the real estate sector.
With the Lok Sabha giving its nod, Parliament on Tuesday passed the Real Estate Bill. The Real Estate (Regulation & Development) Bill, 2016, was passed by the Rajya Sabha on March 10. Speaking in the Lok Sabha, Naidu said: "It is a historic moment for the country as we are fulfilling the aspirations of the people who wish to own a house, giving them the needed protection. The Bill will be giving credibility to real estate sector also." Read more
The Yamuna Expressway authority will develop two hi-tech cities, an industrial township and a heritage city, adjacent to Agra, Hathras and Mathura in an area spread over 6,000 hectares. The second phase of the Master Plan-2031 was amended at a joint board meeting of Noida, Greater Noida and Yamuna Expressway authorities recently. Read more
The North Delhi Municipal Corporation has attached 350 properties across its six zones for non-payment of taxes. All the properties are either commercial or come under mixed-land use. The body is expected to mop up Rs 5.4 crore from properties in areas such as Chandni Chawk, Paharganj, Kamla Nagar, Wazirpur Industrial area, Rajendra Nagar, Naraina and Jhandewalan. Read more
The Rajya Sabha today referred the 48-year-old Enemy Property Act, 1968, to a Select Committee to propose amendments. The aim is to guard against the claims of succession or transfer of properties left by people who migrated to Pakistan and China after wars. The Enemy Property (Amendment and Validation) Bill, 2016, has been referred to a 23-member Committee headed by Bhupender Yadav. Read more
After a long battle, affluent colonies in the national capital such as Sainik Farms, Anantram Dairy and Mahendru Enclave could soon be legalised under the tag of 'unauthorised regularised colonies'. The state government has sent a revised regulation pertaining to regularisation of unauthorised colonies to the Union Urban Development Ministry for notification in this regard. Sources say the state and central governments are on the same page, though the regularisation process will take some time. Read more