#RealtyNewsRoundUp: Govt Invites SC Wrath Over Construction Workers’ Poor State

Coming down heavily of the Centre and states for ignoring construction workers, the Supreme Court on March 19 directed them to frame a model scheme before September 30 to provide them social security offered to formal workers. The top court said that more than Rs 37,400 crore has been collected for the benefit of construction workers though collection of construction cess, but only about Rs. 9,500 crore has been utilised.

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The Delhi government tabled the Economic Survey in the Assembly on March 19 where it pegged the state's gross domestic product size at Rs 6.86 lakh crore for 2017-18. It Survey also stated that despite lower collection of the Goods and Services Tax (GST), the Delhi government expects a higher overall revenue collection in the current financial year. According to the Survey, water supply has been made available to 1,209 unauthorised colonies in the city till December 2017.

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The total operational span of the Delhi Metro network will expand to over 350 km after completion of its Phase-III project, which would also enhance the daily average ridership of the mass-rapid transit system to nearly 40 lakh, the Delhi Economic Survey says. With the opening of the Pink Line's Majlis Park-Durgabai Deshmukh South Campus corridor of the Delhi Metro last week, the current operational length stands at over 252 km.

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Hong Kong-headquartered brokerage firm Credit Lyonnais Securities Asia (CLSA) said the housing cycle in India had started showing some green shoots. That could be gauged from the cement demand, developer pre-sales and the government’s affordable housing programme, the brokerage said. The brokerage house believes the Pradhan Mantri Awas Yojana -Urban Programme is moving towards reality with significant budget raises.

Source: Media reports