#RealtyNewsRoundup: DDA To Penalise Buyers For Returning Flats

The Delhi Development Authority (DDA) has decided to levy a penalty on homebuyers for returning flats. This will range from 25-100 per cent of the earnest money. The move will ensure only serious buyers apply for its new housing scheme that is likely to be announced in next month. The DDA will put up 13,500 flats for sale wherein the earnest money deposit will be Rs 1 lakh for units meant for the low-income group and Rs 2 lakh for flats meant for middle-and high-income groups.

Also Read: All You Need To Know About DDA Housing Scheme 2017

The Centre has warned states against introducing rules and regulations in violation of the provisions of the Real Estate (Regulation & Development) Act, 2016, saying dilution may trigger a legal challenge. While Gujarat has kept all housing projects launched before November 2016 out of the new law's ambit, Andhra Pradesh, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh and Tamil Nadu have also diluted norms to give relief to incomplete projects.

Also Read: Do We Expect Weak RERA As States Seen Diluting Central Norms?

The Greater Noida Authority is fast-tracking the handover of the residential units to homebuyers in Greater Noida West. While 6,000 homes registries have already been completed in the past six months, the authority is getting ready to complete registries of another 8,000 homes in Noida Extension in the next six months.

The Pimpri-Chinchwad Municipal Corporation (PCMC) is giving a concession of five per cent on the general tax component of property tax to property holders paying their tax and arrears through cashless transactions. The concession is applicable only on payment through mobile app and website of the civic body.

Source: Media reports