#RealtyNewsRoundup: Noida Approves Exit Policy For Realtors

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

Authorities in Gautam Budh Nagar have cleared the exit policy for real estate developers, struggling to complete projects in Noida and Greater Noida. The Project Settlement Policy also has a series of measures to protect the interests of homebuyers.

In an effort to monetise its real estate, the railway ministry is working on a scheme to lease out its abandoned buildings and spaces near railway stations to retailers. Under the plan, e-commerce companies such as Flipkart, Amazon and Snapdeal may soon get to set up warehouses and pickup points at railway stations.

Mumbai-based Oberoi Realty has claimed to have clocked sales of residential properties worth over Rs 504 crore during the second quarter of the current financial year, up over three times from the year-ago period. The company claims to have sold 67 units in eight different projects for sales value of over Rs 504 crore.

The Pune Municipal Corporation (PMC) has issued notices to 200 property owners for illegally constructing their properties, and has also sealed three properties. To nail defaulters, the municipal body has planned to use geographical information system to register properties in the city.

Tags: Noida, Mumbai, Pune, Greater Noida, Flipkart

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