#RealtyNewsRoundUp: Come Up With Own Plan To Finish Project, UP-RERA Tells Buyers

The Greater Noida Bench of the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has asked around 700 homebuyers of Subhkamna Tech Home to come up with a financial plan to complete the housing project in Sector 137. Sold in 2011, the Tech Home project was due for completion and handover in 2014.

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The Income Tax Appellate Tribunal (ITAT) has ordered that taxpayers, who sell a commercial property on which depreciation has been claimed and then make an investment in a new residential house within the specified time will be able to claim benefit under Section 54F of the Income Tax Act.

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The National Green Tribunal (NGT) has slapped a fine of Rs 50 crore on the Delhi government for not taking action against steel pickling units in residential areas as they fall under the prohibited list of industrial activity. The NGT also directed the state government to shut these units with immediate effect.

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Property tax collection of the Nashik Municipal Corporation (NMC) has increased 40 per cent in the first six months of the current fiscal, as compared to the corresponding period in the last financial year. NMC officials said increase in property tax structures led to rise in the collection. The NMC administration hiked property tax rates in the range of 37- 40 per cent and started implementing it from the current fiscal year.

Source: Media reports