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#RealtyNewsRoundup: Delhi Set To Implement Real Estate Act

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Realty News Roundup is PropGuide’s selection of the day’s top stories from the real estate sector.

National capital Delhi is likely to be ready to implement the Real Estate (Regulation & Development) Act, 2016, by November 27. The Urban Development Ministry is planning to notify the rules in this regard for the national capital, and is looking to simplify procedures for project registrations.  The deadline for notifying the regulations has now been extended to November 27 from October 31. Meanwhile, Delhi municipal corporations have extended the deadline till November 24 for paying property tax and other charges using Rs 500 and Rs 1,000 notes.

In the largest transaction in Mumbai’s Nariman Point’s history, Singapore’s multinational financial institution DBS Bank is set to pick up one lakh sq ft of prime office space spread over total five floors in Blackstone Group’s commercial property, Express Towers.

As it allowed taxpayers to submit their old Rs 500 and Rs 1,000 currency notes, the Greater Hyderabad Municipal Corporation has collected a whopping Rs 110 crore in taxes in the past three days. This comes days after the Central government announced the withdrawal of the Rs 500 and 1,000 denominations. Official sources said that while the municipal body’s monthly average expenditure was Rs 200 crore, it got only Rs 30 crore from property tax collections, building fees and other taxes.

Maharashtra has become the first state to adopt the Fly Ash Utilisation Policy. The state will use fly ash to make construction materials. Earlier, use of fly ash was allowed only within a 100-km radius of power plants. Now, it has been extended to 300 kms.

Tags: Delhi, Hyderabad, Property tax, Video, Ministry of Urban Development

Planning To Buy A Home After May 1? Mind These

Apart from enforcing accountability, the Real Estate (Regulation & Development) Act, 2016, that is scheduled to come into effect on May 1 fixes home buyers’ responsibilities, too. What are these?

April 19 2017

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#Budget2017: FDI Norms May Be Eased Later This Year

Finance Minister Arun Jaitley announces the abolition of Foreign Investment Promotion Board (FIPB).

February 01 2017

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#Budget2017: Affordable Housing To Get Infrastructure Status

After Finance Minister Arun Jaitley presented the Union Budget 2017-18, Prime Minister Narendra Modi said the housing sector stood to gain immensely from the new announcements.

February 01 2017

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#Budget2017: Real Estate Sector Demands Simple And Effective Norms

One of the major announcements was of the Real Estate (Regulation & Development) Act 2016 (RERA), which is expected to be profitable for both customers as well as builders, will bring about a great deal of transparency.

January 31 2017

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#Budget2017: Self-Employed & Those Without An HRA Component Eager to Be Addressed

India's self -employed workforce as well as those who do not have an HRA component in the lump sum that they get from their workplaces is looking forward to Budget 2017. Their only demand being a rational look at the amount that is allowed for exemptions.

January 19 2017

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#RealtyNewsRoundup: States Don’t Have The Power To Dilute Real Estate Act, Says Naidu [Video]

Here are today's top news stories from the real estate sector.

January 18 2017

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#RealtyNewsRoundup: NGT For Environmental Audit Of Govt Buildings In Delhi

Here are today's top news stories from the real estate sector.

November 24 2016

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#WeeklyNewsRoundup: Govt Bans Notes, Property Prices May See A Correction

Here are the week's top news stories from the real estate sector.

November 12 2016

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Here are today’s top stories from the real estate sector.

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