#RealtyNewsRoundUp: To Make Delhi World Class, DDA Will Spend Over Rs 8,000 Cr

The Delhi Development Authority (DDA) has pegged its Budget Expenditure for the financial year 2018-19 at over Rs 8,000 crore. To turn the national capital into a "world-class city" through various projects, the DDA would spend Rs 3,633 crore on building houses and shops, Rs 765 crore on land acquisition, Rs 2,348 crore on land development and Rs 1,286 crore on establishment.

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At a time when the company is facing public ire over its failure to deliver as many as 42,000 units and its sister concern is stating at insolvency proceedings, cricket start Mahendra Singh Dhoni has sued Amrapali Group for non-payment of Rs 150 crore. Dhoni had been endorsing the real estate company past for the past seven years and severed his ties with the company in April 2016 after being trolled by homebuyers. Meanwhile, the company on April 11 has told the Supreme Court that it would need Rs 2,000 crore to complete nine housing projects in Noida and Greater Noida. Now, the top court has directed the company to give details of the money it collected from homebuyers to ascertain the fund was siphoned off.

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From its previous ranking of 143 on The Heritage Foundation’s Index of Economic Freedom in 2017, India is placed at the 130th spot this year, a jump of 13 positions. However, reforms undertaken by the government to improve the state of affairs have yet to make the desired impact. Unclear land titles are one of the major challenges India faces today, the report indicates.
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The world’s first 3D-printed house has been unveiled in the French city of Nantes. The first tenants of the public housing property are scheduled to move in by June. Researchers at the University of Nantes are responsible for the project, which was built using a robot 3D printer, known as BatiPrint3D, in only 18 days before its hollow walls were filled with cement.

Source: Media reports