#RealtyNewsRoundUp: Delhi Metro Second-Most Unaffordable Transport System In World, Says Report

The Delhi Metro has received nearly 32 per cent less than the number of daily passengers it had hoped to serve this year, according to a study by the Centre of Science and Environment. The CSE has attributed fare hike as the reason behind the sudden drop in ridership. Of nine metropolitan cities across the world which have operational Metro systems, the Delhi Metro remains the second most unaffordable system in terms of percentage of income spent for using it, it said.

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The Supreme Court on September 4 assured the National Buildings Construction Corporation, the state-run company tasked with completing pending Amrapali projects, of funds to complete 46,575 flats at an estimated cost of Rs 8,500 crore. It also ordered a forensic audit of balance sheets of the private realtor to assess the extent of siphoning of funds.

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The National Green Tribunal has restrained six states falling in the region from giving environmental clearance to activities which may adversely affect the eco-sensitive Western Ghats. The green panel allowed the Ministry of Environment and Forests to republish the draft notification of the Western Ghats that lapsed on August 26, and asked it to finalise the matter within six months .

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The Punjab & Haryana High Court has come to the rescue of real estate advisors, who had moved court after the state real estate regulator asked them to pay higher registration charge. The Haryana Real Estate Regulatory Authority had ruled that an “individual” was different from his brand name. Based on that interpretation, the authority had asked several registered brokers in the state to pay Rs 2.5 lakh for licence renewal. An individual broker is liable to pay only Rs 25,000 as registration fee.

Source: Media reports