#RealtyNewsRoundUp: YEIDA Shortlists 8 Villages To Acquire Land For Jewar Airport

The East Delhi Municipal Corporation (EDMC) will soon start regularising east Delhi's unauthorised houses built before April 1, 2017. The conversion of properties into authorised constructions is expected to result in a sudden rise of property tax collection and also help increase the value of properties in east Delhi. The property tax collection will help EDMC to bridge the gap between income and expenditure.

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The first phase of land acquisition for the Jewar airport may begin soon as the Yamuna Expressway Industrial Development Authority (YEIDA) earmarks eight villages for the process. Under the first phase, nearly 1,200 hectares of land will be acquired from villages, including Banwariwaas, Dayanatpur, Kishorepur, Mukim Sivara, Parohi, Ramner, Rohi and Runhera.

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For the expansion of the city airport, the Coimbatore district administration has initiated the process to acquire 450 acres of land. The district administration has announced a compensation of Rs 1,500 per sq ft for residential land and Rs 900 per sq ft for agricultural land. The land will be acquired from localities, including Chinniyamapalayam, Singanallur and Uppillipalayam. The acquisition process is expected to be completed by December end.

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The Competition Commission of India (CCI) has approved a proposal by Singapore's GIC to acquire a stake in an arm of DLF, for Rs 8,900 crore. GIC is a sovereign wealth fund company established in 1981 to manage Singapore's foreign reserves. On the other hand, DLF Cyber City Developers has more than 27 million square feet of office and retail leased-out space. These properties include DLF Cybercity in Gurgaon and the DLF Emporio and DLF Promenade malls in Delhi.

Source: Media reports