#RealtyNewsRoundUp: Bengaluru Property Owners To Pay 2% Cess For Bad Roads
Description
Are roads in your area bad? Bruhat Bengaluru Mahangara Palike (BBMP) might soon start levying two per cent Land Transport Cess on homeowners across the city. This tax will be addition to the property tax paid by owners. This move is expected to cover up the losses incurred by the Bangalore Metropolitan Transport Corporation (BMTC) which is pegged at around Rs 30 crore.
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Haryana Real Estate Regulatory Authority (HARERA) has announced that builders who have fraudulently secured occupation certificate (OC) and officials involved in the fraudulent act will face action.
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The director of Noida’s Premia Projects has been booked for allegedly cheating homebuyers under the Indian Penal Code’s Section 420 and Section 406. As many as 3,000 homebuyers had in 2017 had filed a police complaint against the developer in Greater Noida.
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To develop jointly its 12-acre land parcel in Gurgaon, real estate major DLF is looking for a strategic partner. DLF had acquired this land for nearly Rs 1,500 crore which is located at the National Highway-8 behind Oberoi Hotel. The land parcel has a development potential of 2.5 million square foot (sqf) and the construction cost is estimated to be around Rs 5,000 per sqf.
Source: Media reports