#RealtyNewsRoundup: Housing Gets Rs 3,913 Cr From Delhi Budget

Presenting its Budget for financial year 2019-20, the Delhi government on February 26 allocated Rs 3,914 crore for the housing and urban development, with Rs 1,600 crore being proposed for development works in unauthorised and resettlement colonies. The Rs 1,600 crore would be spent on providing basic infrastructure facilities to improve living conditions in unauthorised colonies. The Delhi Metro's Phase-IV was allocated Rs 500 crore in the Budget.

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The committee of creditors of embattled Jaypee Infra has rejected homebuyers’ demand that a forensic audit of the realtor be carried out. Homebuyers have been demanding an independent audit of the company to establish why exactly did the developer failed to complete its housing projects.

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Owners of plots measuring between 40 square metre (sqmt) and 200 sqmt above would have to leave enough space to plant at least one tree to get their building plans approved by the Municipal Corporation of Gurugram (MCG). The owners will also have to plant a similar number of trees on the shoulder of the road is it is wider than nine metre.

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The Rajasthan government has decided not to charge stamp duty on transfer of immovable property from a husband to his wife as a gift. So far, one per cent stamp duty was charged on such transfers. Under the present system, 2.5 per cent stamp duty is charged on the market price of the property in case of its transfer in the name of father, mother, son, sister, daughter-in-law, grandson or daughter as a gift.

Source: Media reports