#RealtyNewsRoundUp: SC Orders Demolition Of Illegal Constructions In Forest Area Of Aravalli Hills
Terming illegal constructions in the forest area of Aravalli hills as frightening, the Supreme Court on September 111 directed the Haryana government to demolish the unauthorised structures built there after August 18, 1992. The top court said the construction activity carried out by R Kant and Company, a private realtor who is a party to the case, was clearly in violation of an August 18, 1992, notification and in blatant defiance of the court's orders.
The Supreme Court has directed real estate builder Unitech to construct 514 flats in its five projects out of the funds generated from auctioning of its Kolkata property. The property was auctioned at Rs 116.95 crore and so far around Rs 28.89 crores has been received.
The increasing incidents of lift malfunctioning has forced the Noida Authority to send notices to 29 builders, based on recurring complaints by residents. This is the first time the authority has taken such a step. Builders have been given one week’s time to respond to the notice.
In a bid to fasten recovery process, the government has advised financial institutions to create a common marketplace to auction attached properties. Laced with modern technologies, this platform should enable prospective bidders to get all details about a property under hammer, suggests the government.
Source: Media reports