Realty News Roundup: NITI Aayog To Draft Model Land Leasing Law; Nitin Gadkari Says States Can Accept Land Acquisition Bill

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

Top News

The NITI Aayog has decided to set up a committee of experts to prepare a model 'land leasing law'. Once the model is prepared, the states will be allowed to adopt the law as per the local needs. This decision was taken at a meeting of Chief Secretaries and Principal Secretaries (revenue/land) chaired by NITI Aayog Vice- Chairman Arvind Panagariya. Read more.

The Central Government likely to take a call on convening a special session of Parliament to pass the Goods and Services Tax (GST) Bill. Read more.

The National Green Tribunal (NGT), central zone bench, has directed builders at fault to deposit 10 per cent of their developed property value as solvent security for flouting environmental norms. The decision has come after more than 90 per cent of residential projects in Bhopal were found dumping their sewage into the open without any treatment. Read more.

Union Minister Nitin Gadkari has said that state governments could accept the Land Acquisition Law, and implement their own rules. The minister's statement has come in the backdrop of the delay in passing the Land Bill in Parliament. Read more.

Off the front page

After Monday's dip, the stock market has been reported as recovering. BSE realty index has been the top gainer, up by 6.1 per cent. Read more.

Quote of the day: Rate cuts should not be seen as goodies that the RBI gives out stingily after much public pleading...Instead, what is important is sustained low inflation....And rate cuts are a natural consequence that the RBI has no hesitancy in delivering," Raghuram Rajan, Governor, Reserve Bank of India.

After raising Rs 1,000 crore through non-convertible debentures earlier this month, realty major DLF has again raised Rs 375 crore the same way. It is seen as part of the company's strategy to boost internal cash flows. Read more.

Opinion

Manisha Natarajan, Senior Editor (Real Estate), NDTV writes on her blog whether home buyers should wait to make a purchase. Read here.