#RealtyNewsRoundUp: India Jumps 23 Notches To Rank At 77 In Ease Of Doing Business

At a time when the Prime Minister Narendra Modi–led Central government was facing severe criticism over the weak state of economy, India has managed to register a 23-spot jump in the World Bank’s ease of doing business index. India is now placed at the 77th spot at the 190-country index that is topped by New Zealand. Especially remarkable improvement is seen in India providing construction permits. From 184 in 2014, India now ranks 52 on this parameter.

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The Supreme Court on October 31 directed embattled Amrapali Group to disclose the names of all the companies with which it had any kind of transactions after forensic auditors pointed out that there might be a web of more than 200-250 such firms where homebuyers’ money was transferred. The apex court also refused to bosses Anil Kumar Sharma, Shiv Priya and Ajay Kumar who are currently in in a Noida hotel under police surveillance, to visit home on Diwali.

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The Uttar Pradesh Real Estate Regulatory Authority has said it will rate builders between 1 and 5 after assessing their track record with reference to completing the projects on time. The regulator is also in process of hiring a private agency that will monitor the projects.

Meanwhile, the UP-RERA has directed development authority officials in Noida to conduct a health audit of all unfinished projects. This study will focus on finding the stages at which the projects are stalled and the reasons behind the same.

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The Maharashtra Housing and Area Development Authority (Mhada) is launching software to digitise its land records. The housing authority will subsequently conduct mapping of all kind of plots owned by it and then the data will be put up on its website with its current status. The process for the same has already started, and it will take a year to complete the project

Source: Media reports