Realty News Roundup: Uncertainty On The Real Estate Bill Prevails; Punjab Launches Helpline Number For Property Related Information

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

Top News

The fates of two bills that are crucial for the real estate sector (Real Estate Bill and Land Acquisition Bill) are uncertain because the logjam between the ruling party and the opposition continues in the parliament. Read more.

The NDA government recently agreed to retain the key clauses of the UPA government's land acquisition bill. But, the CII expressed its dissatisfaction with the clauses that stipulate that 'consent' and 'social impact assessment' are mandatory. Chandrajit Banerjee, Director General, CII said, "Stipulating mandatory consent requirement and social impact assessment even for core infrastructure verticals like affordable housing, rural electrification and industrial corridors will make the whole process very cumbersome and time consuming." Read more.

CREDAI, the apex body of real estate developers, demands further repo rate cuts from the Reserve Bank of India (RBI). CREDAI's President, Getamber Anand said that further rate cuts are required to stimulate the real estate sector. Read more.

In an annual message to shareholders, Realty major DLF's Chairman, KP Singh said that the real estate sector needs major policy reforms. KP Singh said that the NDA government's new schemes have aroused great expectations. Read more.

Off the front page

According to reports, Anil Ambani's Reliance MediaWorks (RMW) will sell some of its real estate properties, including the multiplex Imax Wadala, for Rs 200 crore. Read more.

The North Delhi Municipal Corporation (NDMC) announced that it will digitize all property tax records. Read more.

In Punjab, the revenue department has launched a free helpline to share information about land records and other details about property. Helpline No. 1800-1800-168. Read more.

Opinion

Read Hariani & Co's Anirudh Hariani's article on the Real Estate Bill here.

Read this article in the Financial Express on how to sell your property at a higher price.

Sukanya Kumar, Founder and Director of RetainLending.com, on what happens to your home loan when your residential project is delayed.