#RealtyNewsRoundup: Maharashtra May Revise Ready Reckoner Rates

The Maharashtra government may announce an increase in the ready reckoner (RR) rates in April to tide over the “low collection of stamp duty”. The hike will be enforced despite vehement opposition from district level committees and developers.

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The first Metro train from Noida to Greater Noida could begin as early as this December, three months before the March 2018 commissioning date. The 29.7-km corridor to be dubbed Aqua Line is racing to the finish line and, as per the DMRC, will be the fastest and economical Metro project built in India in less than two-and-a-half years.

A pan-India home buyers' pressure group, 'Fight for RERA', is asking the separate Parliamentary Committee on Subordinate Legislation (COSL) of the two houses of Parliament to intercede so that states do not weaken the federal Real Estate (Regulation and Development) Act & ensure that final rules are framed and implemented within the ambit of RERA. After the Act was notified on May 1, 2016, states were required to notify final rules within six months.

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The Consumer Disputes Redressal Forum, South Goa, has passed orders in two separate cases directing a builder to execute deeds of sale for apartments he sold in 2010 and 2011 in Vasco and pay compensation of Rs 4 lakh for not building a swimming pool as agreed.

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