#RealtyNewsRoundup: Noida, Greater Noida & Yamuna E-way Authorities To Buy Land Directly From Farmers

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

In a bid to push development, the Uttar Pradesh government has tweaked the land acquisition norms for Noida, Greater Noida and Yamuna Expressway Industrial Development Authority (YEIDA) areas. The state cabinet recently approved the proposal wherein land can be acquired directly for planned development across all categories of land, including residential, industrial, institutional and commercial. This will help farmers fetch a higher rate of compensation and drastically cut down litigation. Read more

In order to address the housing deficit in the Mumbai Metropolitan Region, the Maharashtra Chamber of Housing Industry has entered into a Memorandum of Understanding (MoU) with the state government for developing affordable housing in Maharashtra. Under the pact, the developers' body will construct 569,000 affordable housing units at an estimated investment of over Rs 1 lakh crore this year. Read more

The Greater Noida Industrial Development Authority (GNIDA) has imposed a fine of Rs 50,000 each on 40 developers for violating National Green Tribunal (NGT) norms. Apart from the developers, who have ongoing construction projects in Greater Noida, six waste disposal contractors were fined for burning garbage in the open. Read more

The City and Industrial Development Corporation of Maharashtra (CIDCO) has decided to develop an integrated township 'Khalapur Smart City' at a cost of Rs 7,900 crore. An MoU was inked with three civic bodies, which represented 11 villages, which will pool 3,550 hectare of land. Read more