#RealtyNewsRoundUp: Noida Authority Approves Land Conversion Of Leasehold Properties To Freehold

The Noida Authority, on November 1, approved the plans to convert leasehold properties into freehold. After the authority’s in-principle approval, the matter is now subject to a go-ahead from the Uttar Pradesh government. The authority also agreed to take feedback from the public over allowing floor-wise sales of houses built in residential areas. According to media reports, the authority has also given a go-ahead for the construction of stilt parking in residential areas where the plot size is less than 125 sq metres.

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In the wake of the Supreme Court slamming the Delhi Development Authority (DDA) and other civic agencies for ignoring the misuse of residential premises for commercial purpose, the North Delhi Municipal Corporation has sealed over 516 illegal units in a week. The north Delhi’s civic body has sealed factories and warehouses operational in residential areas. On the other hand, the apex court has announced that in case the owner of the property being misused is unable to provide relevant documents within 48 hours before authorities, the premises should be sealed.

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The government-run National Building Construction Corporation (NBCC) is planning to focus on co-development projects across the country. For this, the company would formulate a new policy by next week. Besides, next week it will also submit a detailed project report (DPR) to the Supreme Court for the construction of 16 stalled Amrapali projects.

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In a study conducted by the Ministry of Civil Aviation, cities, including Mumbai, Delhi, Goa, Visakhapatnam, Jaipur, Pune, Ahmadabad, Rajkot, Patna, Kolkata and Bengaluru, would need a second airport by 2030. By 2035, the report suggests, more cities will join this list. Going ahead, the ministry will then ask the respective state governments to identify land for a new airport at least five years before the airport reaches its capacity.

Source: Media reports