#RealtyNewsRoundUp: Haryana Makes Solar Plants Mandatory For Housing Societies, Industry

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

Haryana has made solar power plants mandatory for housing societies, industries and other specified categories of buildings. The state's solar power policy states that the state government will provide various incentives including industrial status, exemption from change of land use approval and cess, free-wheeling and banking facility, exemption of T&D and cross-subsidy charges. Besides, the government has decided to purchase solar power over and above the solar Renewable Purchase Obligation. Read more

The New Delhi Municipal Council has registered a record revenue collection of Rs 3408.29 crore surpassing the target for the financial year 2015-16 by Rs 122 crore. The NDMC exercises civic jurisdiction over an area that is home to some of the richest people in the city. It has also posted the highest collection in property tax in five years, with an increase of 20 per cent over its haul previous year. Read more

Realty firm Logix has developed a mixed-use project comprising a 6 lakh sq ft shopping mall in Noida at an investment of Rs 600 crore and expects to earn an annual rental income of about Rs 80 crore. Noida-based Logix group is also in the process of giving final exit to Bahrain-based TAIB Bank from its Logix Techno Park project for about Rs 102 crore, company's Chairman and Managing Director Shakti Nath said. Read more

American hospitality chain Hyatt recently said as part of its expansion plans it will launch three more hotel properties in the country this fiscal. The company will open Hyatt Place at Hyderabad, Rameswaram and Andaz at Delhi in current financial year. The company also has plans to open Grand Hyatt at Kochi which will take time. Read more