#RealtyNewsRoundUp: Home Sales Increased 30% In December Quarter, Shows PropTiger.com Report

Home sales across nine Indian cities increased 30 per cent year-on-year during the October-December quarter of the current financial year (FY 2019). According to Realty Decoded, a quarterly report by PropTiger.com that analyses nine key property markets in the country, Mumbai and Pune registered the highest growth volume during the quarter. New launches also increased albeit only by three per cent during the quarter ended December. 

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To provide relief to hassled homebuyers residing in flats built by embattled Amrapali Group, the Supreme Court (SC) on January 16 indicated that it might allow them to register their residences in projects that have yet to receive completion certificates. The top court said that it might invoke powers of extraordinary jurisdiction under Article 142 of the Constitution to direct for registration of the flats with authorities concerned.

Meanwhile, the officials doing forensic audit of Amrapali told the top court that 23 companies were floated in the name of office boys, peons and drivers and were made fronts to divert homebuyers' money.

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Punjab Chief Minister Amarinder Singh on January 16 said a sum of Rs 1,500 crore would be spent on improving rural and urban infrastructure in the state. Of the Rs 1,500 crore, Rs 1,000 crore would be spent on improving rural infrastructure while Rs 500 crore would be used for urban infrastructure, to ensure the best civic amenities to residents.

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Amid reports of rising pollution levels in state capital Kolkata, the West Bengal government on January 16 asked developers to cover construction areas to prevent dust particles from spreading in the air. The dust generated during construction of buildings is the prime reason behind high air pollution levels in the city between November and March.

Meanwhile, the state Cabinet has given an approval to allot around 75 acre of land to Britannia and eight other companies in different industrial parks in the state. The biscuit major is likely to invest Rs 300 crore in West Bengal.

Source: Media reports