#RealtyNewsRoundUp: UP May Follow Noida Move On Circle Rate Rebate

With an aim to provide the much-needed push to the real estate sector, the Uttar Pradesh Stamps and Registration Department on July 12 directed its staff to conduct studies and revise property registration charges accordingly. It is worth mentioning here that the Noida District Administration on July 11 announced certain rebates that would bring down the cost of property registration for homebuyers in the city.

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To speed up land acquisition for highway projects, the Maharashtra State Assembly on July 12 cleared a Bill, amending the Maharashtra Highways Act of 1955. Created on the lines of the Central land acquisition Act, the Bill provides for higher compensation to acquire land for state highway projects. 

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The Delhi government has approved the final revised estimate of over Rs 1,518 crore for the construction of Signature Bridge on Yamuna river at Wazirabad. The bridge is that will connect the Outer Ring Road on the western bank of the Yamuna with the Wazirabad Road on the eastern side of the river benefitting thousands of commuters is expected to be completed by October 31 this year.

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The auctioning process of Sahara group's prized Aamby Valley properties in Pune was put off by the Supreme Court on July 12 after it was informed that the auction notice had failed to elicit any response from prospective buyers. A SC was informed about this by the official liquidator of the Bombay High Court, which was earlier directed to go ahead with the auctioning of these properties to realise the money of the investors.

Source: Media reports