#RealtyNewsRoundup: Govt To Build Homes For Poor On PSU Land

The government has identified vast tracts of land in eight cities belonging to sick public sector undertakings (PSUs) to be monetised or leased for low-cost houses for the poor. These cities include Gurgaon, Hyderabad, Pune and Ranchi.

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Any building and construction project with built-up area of up to 1.5 lakh square metres in urban areas in Maharashtra will not need a green approval from the environment and forest ministry. Local authorities concerned have been delegated the powers to give all such approvals now.

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With the construction of the 45 km-long stretch of Phase-1 nearing completion, the Chennai Metro Rail Limited (CMRL) has begun preliminary work for acquiring land for the three-line Phase-2 of the project. The second phase will cover a stretch of more than 107 km, and is expected to cost about Rs 85,047 crore.

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The Karnataka government has notified the Real Estate Regulatory (Regulation and Development) Act, 2016, making it mandatory for all developers to register with the regulator. The Karnataka Real Estate (Regulation and Development) Rules, 2017, shall come into force from the date of their publication in the Official Gazette.

Source: Media reports