#RealtyNewsRoundup: India Needs To Urbanise Rapidly, Says Arun Jaitley

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

Finance Minister Arun Jaitley has said India needs to urbanise rapidly in the next two decades in line with its present development to help relieve the pressure on agriculture. Addressing a seminar in the national capital, the minister said urban India centres housed 31 per cent of the country's population and worked as the engines of growth.

While hearing the matter regarding the eviction of former chief ministers from their government bungalows in the state, the Uttarakhand High Court refused to allow them any more time beyond the December-16 deadline set by the state government. The judges also asked the state government to recover rent from the formers CMs with retrospective effect, and directed the government to submit its calculations to the court by November 21.

Bowing to the demand of the treasury and opposition benches, the Kerala government is likely to consider the rollback of three per cent tax that was introduced in the previous Budget for registration of land deeds among family members. The state government had set Rs 1,000 as the ceiling for stamp duty for registration of land deeds within families.

The National Highways Authority of India (NHAI) has moved the National Green Tribunal seeking permission to build a bridge across the Yamuna and its approach roads for the Delhi-Meerut Expressway. On this, the NGT has sought a response from ministries of environment & forests and urban development.