#RealtyNewsRoundUp: Govt To Hold Contest To Assess Impact Of Smart City Projects
To measure the quality and impact of ongoing smart city projects, the Centre will hold a contest carrying total prize money of Rs 50 lakh. The Housing and Urban Affairs Ministry has circulated a concept note in this regard to all states and union territories.
Around 2,300 homebuyers of Jaypee Infratech's Wish Town project in Noida moved the Supreme Court. They have requested the SC to ensure the developer deposited the money needed to complete the project before lifting a stay on insolvency proceedings at the company. They also want the company to pay them compensation for the delay caused so far with an 18 per cent interest.
The Maharashtra Housing and Area Development Authority (MHADA)has initiated the process to attach properties of those developers, who abandoned their redevelopment projects. The move is expected to protect the interests of affected consumers.
Construction major Shapoorji Pallonji has pipped L&T to bag the government's Rs 2,600-crore project to redevelop the India Trade Promotion Organisation (ITPO) complex in the national capital into an exhibition-cum-convention centre. The ITPO complex at Pragati Maidan has been a venue for global events such as the India International Trade Fair, World Book Fair and Petrotech.
Source: Media Reports