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#RealtyNewsRoundup: Urban Development Ministry To Help Redevelop Railway Stations

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

In order to make railway stations smarter by equipping them with better passenger amenities, easy access and improved aesthetics, a memorandum of understanding has been signed between the Urban Development Ministry and the Indian Railways to redevelop 100 railway stations on the lines of smart cities. The ministry will redevelop 10 model stations in Varanasi, Delhi’s Sarai Rohilla, Bhubaneswar, Lucknow, Jaipur, Kota, Thane, Margao (Goa), Tirupati and Puducherry.

Chinese real estate giant Dalian Wanda, which is planning to invest $10 billion in India, has sought permission from the Central government to be allowed to sell plots that are undeveloped or only partly developed in its proposed industrial park in Haryana. India’s foreign direct investment policy, however, only permits the sale of developed plots, which means roads, water supply, street lighting, drainage and sewerage need to be in place.

Bengaluru Urban Deputy Commissioner V Shankar said the district administration would take over the properties of Kannad actor Darshan Thoogudeepa and former minister Shamanur Shivashankarappa as the properties sit on the government land at RR Nagar in south Benglauru. The city administration has issued eviction orders to 69 persons and the deadline is October 22.

Around 24,000 families waiting for plots in Delhi’s Rohini for the last three decades can finally breathe easy. The Supreme Court dismissed petitions filed by farmers who had challenged the land acquisition. The SC said any land acquired for Rohini Residential Scheme-1981 could not be returned back to farmers but they could apply for "enhanced compensation” under the new Land Acquisition Act.

Source: Media reports

Tags: Bhubaneswar, Lucknow, Thane, Jaipur, Dalian Wanda

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