#RealtyNewsRoundup: Haryana RERA Withholds Gurugram’s Affordable Housing Lottery
Description
The Haryana Real Estate Regulatory Authority (H-RERA) on April 25 suspended Gurugram’s affordable housing lottery after it received several complaints regarding the process form the citizens. The authority directed the department of town and country planning (DTCP) to withdraw the draw of lots for the scheme for now.
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The Chennai Municipal Development Authority (CMDA) has increased infrastructure development charges by Rs 15 per square metre (sqm), taking the new rate to Rs 163 per sqm. The new rate will be applicable from April 1. These charges will be directed to the Chennai’s water supply and sewerage board.
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New Bay Area in the United States has emerged as the most expensive place in the world to take up construction, a report by UK-based consultant Turner & Townsend shows. According to the report, the demand-supply gap of the labour and high tariffs have led to sky-rocketing construction costs. New York was ranked second in the list.
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The Bombay High Court has said the Mumbai civic chief does not have the authority to frame rules for laying down guidelines for determining capital value of a property for taxing purposes. The court made the observation while striking down certain rules enacted by the Brihanmumbai Municipal Corporation (BMC) for assessment of capital value of a property based on which tax could be levied on it.
Source: Media reports