#RealtyNewsRoundUp: DDA Land Pooling Policy Likely To Get Approved

The much-delayed land pooling policy of the Delhi Development Authority (DDA) is now likely to get an approved. The DDA had put its revised draft land policy in the public domain in January this year, inviting suggestions and objections, and received 734 responses. There were examined by a board of inquiry and a public hearing was held in July.

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In a new turn of events in the Amrapali saga, the country’s top court on September 6 allowed Corporation Bank, which has lent the company Rs 270 crore, to move the National Company Law Tribunal against the builder. The SC has also identified 16 properties of the group for auctioning to provide NBCC with an initial corpus to start work on stuck projects. The top court also slammed Amrapali Chairman and Managing Director Anil Sharma for misreporting his net-worth. In his election affidavit filed during the 2014 Lok Sabha polls, Sharma had declared he held assets worth Rs 847 crore ─ he now claims to have only Rs 67 crore.

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Amendments to the insolvency law have helped homebuyers in Jaypee Infratech projects get a 62.3 per cent say in the committee of creditors, the panel that will take all crucial decisions. Of the total claims estimated at Rs 26,259 crore, buyers’ share stands at Rs 16,373. IDBI Bank, with claims of Rs 4,334 crore, has the next highest vote share (16.5 per cent), followed by IIFCL (3.9 per cent) and SBI (2.9 per cent.

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A Mumbai-based private firm has bagged contract worth Rs 306 crore for door-to-door solid waste collection in Noida for 10 years, while tenders were finalised for mechanised sweeping of city roads as well in a major push for the Clean India initiative.

Meanwhile, residents of the national capital will get doorstep delivery of various government services, including driving license, marriage certificate and ration cards, from September 10. In the first phase of the scheme, 40 services will be provided by the government.

Source: Media reports