#RealtyNewsRoundup: Noida May Hike Circle Rates Only In Premium Areas

Realty News Roundup is PropGuide's selection of top stories from the real estate sector.

In a climbdown from its plan to hike circle rates in Noida, the district administration has now proposed that the increase would only be restricted to premium areas of the city. District Magistrate N P Singh said the increased rates wouldn't affect more than five per cent of the total number of new registrations, thereby not affecting the middle-class housing.

To curb congestion in the city, the Noida Authority will impose heavy penalties on developers, including cancelling their lease deeds, who are using their car parking space for other purposes. According to officials, 26 CCTV cameras will be installed at strategic spots in the city that witness heavy traffic and errant developers will be issued notices.

Haryana Chief Minister Manohar Lal Khattar has directed the Haryana Urban Development Authority (Huda) to hand over a 75-metre-wide corridor to the Union Road Transport and Highways Ministry to develop an elevated Metro corridor. This ministry had demanded a 90-metre-wide corridor for dual purposes – to increase the width of the Dwarka Expressway and develop a proposed Metro route over it.

Total Environment, a Bengaluru-based developer, has raised Rs 300 crore worth of long-term equity money from HDFC Capital's new fund. The company plans to use the money to speed up construction and accelerate delivery of five of its upscale projects in Bengaluru and Pune. 

Source: Media reports