#RealtyNewsRoundup: Dwarka Expressway Gets National Highway Status

The National Highways Authority of India (NHAI) has issued a notification granting national highway status to the 28-km Dwarka Expressway starting from Shiv Murti in Delhi to Kherki Daula in Gurgaon. Under the notification, the speed limit on the expressway will be set at 80 kmph.

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The Employees Provident Fund Organisation (EPFO) and the Housing and Urban Development Corp (HUDCO) have signed a pact, under which the members of the housing scheme could avail subsidy and interest subvention under the Pradhan Mantri Awas Yojana. Moreover, the EPFO subscribers from societies could withdraw upto 90 per cent of their funds to buy homes.

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The residential and commercial establishments in Ghaziabad with area above 300 sqm will have to make rainwater harvesting system functional as the Ghaziabad Development Authority issues notices. The GDA during map approval has made rainwater harvesting system a mandatory, but city-based environmentalists claim that despite this, many establishments either have not installed the system or it is in non-functional state.

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Developers including Tata Realty, Shapoorji Pallonji, IL&FS, Reliance Infrastructure, Raheja Group and Essel Infra have shown interest are showing keen interest in the Rs 10,000-crore redevelopment project of Mumbai railway stations at Bandra Terminus, Mumbai Central, Lokmanya Tilak Terminus, Borivali and Thane. The developer who bags the project will get commercial exploitation rights for railway land for 45 years in lieu of modernising and upgrading the existing stations.

Source: Media Reports