#RealtyNewsRoundUp: Delhi Metro Magenta Line Gets Operational, Noida-Gurgaon Travel Time Cut By 30 Min

The 24.82-km Janakpuri West-Kalkaji Mandir stretch of the Delhi Metro's Magenta Line was inaugurated by Housing and Urban Affairs Hardeep Singh Puri and Delhi Chief Minister Arvind Kejriwal on May 28. The stretch will bring domestic terminal of the city airport on the DMRC network and cut travel time between Noida and Gurgaon by at least 30 minutes. Hauz Khas (with the Yellow Line) and Janakpuri West (with the Blue Line) stations are the interchange facilities on this corridor, besides the existing Kalkaji Mandir station (with the Violet Line).

Meanwhile, the extension of Delhi Metro’s Pink Line (Majlis Park-Shiv Vihar) from Durgabai Deshmukh South Campus station to Lajpat Nagar will now open in July, instead of June as scheduled earlier. Also, the opening of Shiv Vihar-Trilokpuri section has been rescheduled to August.

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Prime Minister Narendra Modi on May 27 inaugurated two key expressways. While the Rs 7,500-crore, 14-lane Delhi-Meerut Expressway will cut down the travel time between the two cities to 40 minutes from the current two-and-half-hours, the Rs 11,000-crore Eastern Peripheral Expressway will help around 50,000 vehicles travelling up to Jammu and Kashmir, to skirt Delhi.

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The National Consumer Disputes Redressal Commission had ordered Unitech to refund Rs 1.10 crore to Noida homebuyers, who were not provided possession of their unit at the company’s Unitech Grande project even after five years of the scheduled date. An allotment letter was issued to Manish and Ruchi Gupta on June 25, 2010, in which the builder promised to deliver the units within 30 months for a total amount of Rs 1.20 crore.

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The Bombay High Court has pulled up State Bank of India for colluding with a builder to create a mortgage in its favour in a case where 300 shop buyers have waited for over five years for property possession. After going through the documents, the HC found out that the state lender granted the loan despite the developer not fulfilling as many as 27 conditions spelt in the loan sanction letter. The bank was also found of sanctioning the loan on an expired lease ─ the 30-year lease on the land given to the builder by the Maharashtra Industrial Development Corporation expired in 2006.

Source: Media reports