#RealtyNewsRoundup: NBCC May Deliver All Jaypee Projects Within 3 Years
Description
After a meeting with homebuyers on March 11, the National Building Corporation Company (NBCC) has reached the conclusion it would be able to deliver all Jaypee Infra projects within three years. The Supreme Court appointed the state-run construction company to take over housing projects of the embattled real estate developer earlier.
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In a move to stop construction of illegal dwellings in Gurugram, the department and town and country planning has directed the electricity department to not issue power connections in such buildings. The department would also ensure illegal buildings are not supplied with water and sewage facilities either.
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The National Green Tribunal (NGT) on March 11 asked the Director of the Namami Gange and the Director-General of the National Institute of Hydrology to inspect the Yamuna floodplain in Agra and submit a report within four weeks on its demarcation. The NGT had earlier come down heavily on Agra Development Authority (ADA) for allowing construction on the floodplain of the river and had also sought response from the developers on the matter.
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Bengaluru-based Embassy Group is set to launch its Rs 4,750- crore real estate investment trust (Reit) next week, say media reports. The developer is launching the Embassy Office Park Reit in partnership with private equity major Blackstone.
Source: Media reports