#RealtyNewsRoundUp: Door-To-Door Drive Helps Delhi Municipal Bodies Collect Rs 119 Crore More

The door-to-door survey of properties has helped south and north Delhi municipal corporations to increase their revenue collection and widen the tax net over the last one year. The South Delhi Municipal Corporation, which started the survey in September last year, has collected Rs 469.89 crore till August, Rs 67 crore more than the previous year. Till August 14, the two corporations have jointly increased their tax collection by Rs 119.33 crore and have added over 56,000 new tax payers to their records.

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The revenue department of the Greater Chennai Corporation is all set to go high-tech for measurements of property. It plans to purchase differential global positioning system (DGPS) equipment and set up a base station on the top floor of Amma Maligai on the premises of Ripon Buildings to measure new properties.

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Domestic realty major DLF and Singapore's sovereign wealth fund GIC will invest about Rs 1,250 crore over the next four years to construct a housing project in Central Delhi, named Midtown.  Earlier, in September 2015, GIC had invested Rs 2,000 crore to buy 50 per cent stake in DLF's two upcoming housing projects at Moti Nagar in central Delhi.

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The Brihanmumbai Municipal Corporation has decided to terminate the 999-year lease of legally controversial Campa Cola Compound, which is owned by the promoter company, Pure Drinks. The official has held that lease conditions have been breached because of illegal constructions on the plot, forcing the apex court to give demolition orders which were later stayed and regularisation was allowed.

Source: Media reports