#RealtyNewsRoundUp: Govt Approves 33% Increase In Carpet Area Of Houses Under PMAY-Urban

The government has increased the carpet area of houses eligible for interest subsidy under the Credit-Linked Subsidy Scheme (CLSS) for the Middle-Income Group (MIG) under the Pradhan Mantri Awas Yojana (Urban). Now, the carpet area of houses for the MIG-I category has been increased to 160 square metre (sqmt) while the carpet area for homes for the MIG-II category has been fixed at 200 sqmt. Earlier the carpet area for the MIG-I category was fixed at 120 sqmt and 150 sqmt for the MIG-II category.

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About 2,500 homebuyers who have made bookings in four projects of Jaycee Homes Corp staged a protest at Mumbai’s Azad Maidan on June 12, demanding their money back. Dipesh Bhagtani, one of the directors of the firm, is in judicial custody in a case for allegedly cheating homebuyers. The protesters said 2,500 people had incurred a loss of over Rs 500 crore.

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At a time when residents and villagers are gearing up to “physically” stop the dumping of waste at the proposed Sector 123 dumping yard site in Noida, the city administration has announced it would collect only dry waste from residential sectors from June 30. This means residents will be responsible to segregate waste at source.  Those found dumping unsegregated waste at sites would also be punished to ensure compliance.

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In a move that would boost construction activity in the state, the Punjab Cabinet has approved new building rules. The rules are applicable on all areas outside municipal limits and are expected to be notified soon. Under the new rules, a developer can now purchase unlimited floor area ratio for group housing, commercial, public office, hotel and industrial buildings.

Source: Media reports