#RealtyNewsRoundup: Centre Open To Reviewing Real Estate Law
The Housing and Urban Affairs Ministry is open to make certain changes in the real estate regulation rules for effective implementation of the law without diluting the core features aimed to protect consumers. Different stakeholders, including state governments and regulatory authorities, have sought clarity in respect of some provisions of the Act.
The Noida Extension Flat Owners Welfare Association has demanded that registration for new apartments be granted according to carpet area and according to circle rates of year 2010. The buyers positioned these demands with the committee of visiting officers who have been deputed to address the concerns of buyers in Noida by the Uttar Pradesh government.
The Yamuna Expressway Industrial Development Authority (YEIDA) has assured homebuyers of six scrapped projects of Jaypee Group in its area that their money will be refunded “at any cost”. A total of 3,367 buyers have invested in six projects of Jaypee group in the YEIDA area.
The Centre will give about Rs 3,700 crore as incentive to states for faster completion of smart city projects in its bid to motivate the local governments to expedite works. The prime minister has asked all chief secretaries of states to monitor the progress of smart city projects for early completion.
Source: Media reports