#RealtyNewsRoundUp: Jaypee To Invest Rs 2,000 Cr To Complete Stalled Projects
Insolvency-hit Jaypee Infratech has assured the homebuyers that it will deliver the stalled projects in the next four years, if the National Company Law Tribunal (NCLT) gives it the go-ahead to do so. The developer says that is has submitted a proposal with the NCLT, under which it has proposed to deposit Rs 2,000 crore in an escrow account, which will be used for the completion of the stalled projects.
The Noida Authority will resend the proposal, which allows floor-wise registry of plots, to the UP government for approval. To allow floor-wise registry, the authority and the state government will have to make changes to the building by-laws and remove sub-section- III of provision 24.1 of the Building Regulations, 2010, that restricts the division of an individual residential plot.
The Delhi Metro will soon run on solar power as the Delhi Metro Rail Corporation on April 18 received 27-megawatt power from the Madhya Pradesh-based Rewa Solar Power Project. This will be the first time that the Delhi Metro will receive power from an offsite source, which will be used to operate trains. Till now, the rooftop solar plants installed on the DMRC sites were being used to power lighting and air-conditioning for stations and depots.
After the Delhi Development Authority received a lukewarm response to its land pooling policy, it now plans to promote it among the landowners in rural belts. The DDA plans to reach out through pamphlets and promotional videos that will be shown across the villages in and around the national capital. The single-window portal launched by the DDA in February has so far received 650 registrations and 250 hectare of land for pooling.
Source: Media reports