#RealtyNewsRoundup: Government Decides To Renew Enemy Property Act

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

The government recently recommended to the President a fresh ordinance to amend the Enemy Property Act to allow custodians to continue to hold sway over such properties. The aim behind the recent move is to negate the effect of a court judgment as the Bill to replace the ordinance is pending with the Rajya Sabha, which had referred it to a select committee. Following the end of the Budget session, the ordinance had lapsed. Read more

Indiabulls Housing Finance said it would raise Rs 565 crore through an issue of debentures on private placement basis. "The company proposes to issue 5,650 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to Rs 565 crore on private placement basis," it said in a regulatory filing. Read more

The Indore Municipal Corporation (IMC) plans to provide treated water to the construction sites by setting up a hydrant at the Kabir Khedi sewage treatment plant. Indore Mayor Malini Gaud said drinking water should not be used for other purposes. According to civic body officials, the construction sites are one of the major consumers of portable water, and close to 15 million litres of water per day is required at different construction sites across the city. Read more

The Brihanmumbai Municipal Corporation (BMC) has proposed that developers must keep 30 per cent of every building's recreational open spaces on the ground in a natural state without paving, in order to maintain the ground water level. Apart from promoting rainwater harvesting, the civic body stated in its revised draft development control regulations that maintaining the ground water level will ensure that in future, during water scarcity, societies can dig bore wells to use water. Read more