PROPGUIDE − A Complete Property Guide
#happyhome

#RealtyNewsRoundup: Noida Authority May Open Joint Account With Developers For Faster Project Delivery

Loading video...

Description

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

After Greater Noida, the Noida authority, too, is toying with the idea to open joint accounts with real estate developers to ensure faster delivery of projects. The move would ensure that the money collected from homebuyers is spent only on completing housing projects and is not diverted or used elsewhere. The authority will ensure 30 per cent of the money collected from the homebuyers goes into paying land dues and 70 per cent is spent on completing the project.

The National Green Tribunal (NGT) bench ordered Pune-based developer to pay an environmental compensation cost of Rs 100 crore or five per cent of the total cost of the project, whichever is less, for flouting environment clearance conditions relating to an integrated housing project at Vadgaon Budruk off Sinhagad road in the city. The bench also directed the developer, Goel Ganga Developers India Private Limited, to pay another Rs 5 crore for flouting several environmental laws.

The Maharashtra cabinet has approved the construction of Metro line 2B and Metro line 4. While Metro 2B, which is estimated to cost Rs 10,986 crore, is proposed from DN Nagar, in Andheri West, to Mandala in the eastern suburbs. Metro line 4 will connect Mumbai to Thane at a projected cost of Rs 14,459 crore.

State-owned Housing & Urban Development Corporation Ltd (HUDCO) claims to have raised Rs 1,300 crore through private placement of non-convertible bonds to finance affordable housing and urban infrastructure projects. The company said the bonds would be due for maturity on November 30, 2019, and January 22, 2020, respectively.

Source: Media reports

Tags: Noida, Mumbai, Pune, Greater Noida, Video


#RealtyNewsRoundup: Noida Approves Exit Policy For Realtors

Here are today's top news stories from the real estate sector.

October 24 2016

+ Click Here To Read This Article

#RealtyNewsRoundup: Bank of Baroda To Buy Majority Stake In Central Bank’s Housing Finance Arm [Video]

Here are today's top news stories from the real estate sector.

December 12 2016

+ Click Here To Read This Article

#RealtyNewsRoundup: UP Govt Nod To Noida-Greater Noida Metro Link [Video]

Here are today's top news stories from the real estate sector.

December 09 2016

+ Click Here To Read This Article

#RealtyNewsRoundup: Punjab Abolishes 2 Per Cent Stamp Duty

Here are today's top news stories from the real estate sector.

September 14 2016

+ Click Here To Read This Article

#RealtyNewsRoundup: Maharashtra May Revise Ready Reckoner Rates

Here are today’s top news stories from the real estate sector.

March 03 2017

+ Click Here To Read This Article

#RealtyNewsRoundup: Industry Body Urges Govt To Give Infra Status To Real Estate Sector [Video]

Here are today's top news stories from the real estate sector.

February 03 2017

+ Click Here To Read This Article

#RealtyNewsRoundup: Chandigarh Exempts Big Projects From Green Clearance  [Video]

Here are today's top news stories from the real estate sector.

February 02 2017

+ Click Here To Read This Article

#RealtyNewsRoundup: Sebi Comes Up With Norms For Public Issue Of REITs [Video]

Here are today's top news stories from the real estate sector.

December 20 2016

+ Click Here To Read This Article

Here are today’s top stories from the real estate sector.

Under the two-year redevelopment plan, 10,655 residential units will be constructed in the heart of...

The number of luxury properties in India’s Silicon Valley is growing by the day to keep pace with...

Stamp duty is a tax you pay to your state to buy a property. Franking, on the other hand, is the...

The Goods And Services Taxes has clearned a proposal to charge a cess of 15 per cent on luxury cars...

The Union Cabinet has approved the Noida-Greater Noida Metro Rail project, covering a length of...

The Phase-I of the Namma Metro will be fully operational from June 25. The new line will operate...

Amaravati is being developed as the new capital city of Andhra Pradesh. Fosters and Partners...

A building code is a set of norms that govern construction of buildings by stipulating minimum...

PropGuide simplifies complex real estate jargons for you.

Prime lending rate is the interest rate at which banks lend to its most credit worthy...

Proptiger has released it's quarterly review report on India's real estate sector. Ankur Dhawan,...

Subscribe Now

To stay tuned with real estate updates

Pick:

x +

Drop Your Query Here


Top