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#RealtyNewsRoundup: Tamil Nadu Draft Rules Mandate Jail For Project Delays [Video]

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

The Tamil Nadu government is ready to tighten the screws on developers failing to meet delivery deadlines. Developers failing to deliver housing projects in time may land in jail, says the draft rules for the real estate act released by the Tamil Nadu government. The Tamil Nadu Real Estate (Regulation and Development) Rules, 2016, also mandate registration of agents engaged in the realty sector but the rules do not address the vital issue of the single window system.

Despite the commonly perceived slowdown in the real estate sector post demonetisation, Union Minister M Venkaiah Naidu recently said it was the biggest beneficiary of the controversial move as it sparked a fall in interest rates on home loans. Expressing hope that the finance minister will announce more incentives for the sector in the upcoming budget, he said If tax net widens, the interest rates will come down further.

After dragging its feet for several years, the Chandigarh administration recently approved the rates for conversion of leasehold residential properties to freehold. The move will benefit over 50,000 leasehold property owners in the City Beautiful. As per the proposed rates, an allottee of 150 square yard plots in Sectors 1 to 12 would have to pay around Rs 9 lakh as one-time chargeable conversion fee.

Larsen & Toubro bagged orders worth Rs 1,286 crore for construction jobs in the country. The orders include heavy civil infrastructure jobs worth Rs 1,071 crore, including the underground Metro-Link Express for Gandhinagar and Ahmedabad.


Source: Media reports

Tags: Chandigarh, Video, Larsen & Toubro, propguide, RERA

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#WeeklyRoundup: Union Budget 2017 Aims To Boost Affordable Housing [Video]

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

February 04 2017

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#Budget2017: FDI Norms May Be Eased Later This Year

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#Budget2017: Affordable Housing To Get Infrastructure Status

After Finance Minister Arun Jaitley presented the Union Budget 2017-18, Prime Minister Narendra Modi said the housing sector stood to gain immensely from the new announcements.

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#Budget2017: Real Estate Sector Demands Simple And Effective Norms

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#Budget2017: Must Address Persistent Ambiguities Related To GST & Applicable Tax Rates For The Sector, Says Supertech's R K Arora

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

August 17 2016

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Is NCR Losing Out To Mumbai, Bengaluru, Pune?

The National Capital Region, for very long, has been the largest residential real estate market in India. But, is NCR losing out to Mumbai, Bengaluru and Pune?

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Here are the top stories of the week from the real estate sector.

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