#RealtyNewsRoundup: DDA To Monitor Infra Projects Online
Realty News Roundup is PropGuide's selection of top stories from the real estate sector.
The Delhi Development Authority (DDA) has launched an online system to monitor its infrastructural projects in Delhi. The move aims to bring more accountability and transparency across functions of the authority. DDA Vice-Chairman Arun Goel said an official would have to be present at the construction site and update the progress report in real time. Read more
The Chandigarh Housing Board (CHB) has waived off the lock-in-condition of five years to transfer and sell property in the city. The housing agency had built more than 50,000 dwelling units in the City Beautiful and has included both leasehold and freehold property under the waiver. It has also allowed allottees to make internal changes without taking permission from the Board, but after fulfilling certain conditions. Read more
The Maharashtra government has decided to replace the rental housing project of the Mumbai Metropolitan Region Development Authority (MMRDA) , by an affordable housing scheme in the Mumbai Metropolitan Region (MMR) . The rental housing scheme was introduced in 2009 to allow participation of private sector developers with an aim to check the growth of slums in MMR. Read more
Now, building construction materials can be ordered online, benefitting both individual home owners and builders. Organisations such as Suppllified.com, Buildzar.com, eConstructiomart.com, Buildkar.com and mSupply.com are offering building materials such as cement, bricks, steel, tiles and more, online. These marketplaces have tied up with local retailers to standardise prices of the products. Read more
According to a leading daily, Blackstone Group, one of the world's largest private equity real estate investor, and Bengaluru-based developer RMZ Corp are likely to be the first companies to be listed in the Real Estate Investment Trusts (REITs) . On Monday, Finance Minister Arun Jaitley had exempted REITs from the dividend distribution tax (DDT) . Read more