#RealtyNewsRoundUp: Sell PMAY Units At Ready Reckoner Rates, Maharashtra Tells Builders

The Maharashtra government has directed developers, who are undertaking projects under the Pradhan Mantri Awas Yojana (PMAY), to sell 50 per cent of the low-cost houses at ready reckoner (RR) rates. This means these units would cost 20-25 per cent less now. Earlier, builders were selling these units at rates decided by the Maharashtra Housing Area Development Authority.

***

The eight-km South Campus-Lajpat Nagar Section of the Delhi Metro's Pink Line is now open for public. This six-station stretch, which is part of the 59 km Majlis Park-Shiv Vihar Corridor, links four major shopping destinations in the city—Sarojini Nagar, INA Market, South Extension and Lajpat Nagar.

Meanwhile, citing improved ridership figures, Housing Minister Hardeep Singh Puri has said that another hike in Delhi Metro fares was unlikely.  

***

The real estate industry is finally responding to the impact of the real estate law as branded developers are showing signs of improvement in sales numbers. According to the data released by a real-estate analytics firm, the share of top 10 developers across seven cities, in fresh home starts and sales, has climbed significantly in the last one year. Real estate companies with better compliance are gaining market share, data show.

*** 

The Noida Authority has issued a recovery notice against Shubhkamna Buildtech of Rs 78.23 crore over non-payment of dues at their project in Sector 137. This is the first major recovery notice issued by the authority through the district magistrate this year.

 Source: Media reports