#RealtyNewsRoundup: Uttarakhand HC Sets Feb 15 Deadline For Ex-CMs To Evict Govt Bungalows [Video]

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

The Uttarakhand High Court has slammed former chief ministers who are still occupying government bungalows. Warning them of stern measures, including forced eviction, the court has asked the former CMs to vacate the premises by February 15.

Bringing relief to the “ruler” of Jodhpur’s Umaid Bhawan palace, the Supreme Court has held that the income earned by erstwhile rulers of a princely state or their heirs by renting out a portion of the residential palace was not taxable. Rapping the income-tax department, the top court said the palace is declared exempt from payment of income tax under the States (Taxation Concessions) Order, 1950 by the Central government if it is used by a “ruler” as his residence.

Lenders to the defunct Kingfisher Airlines have decided to reauction the plush sea-facing Kingfisher Villa in north Goa at a marginal discount of 5 percent. The lenders have set the reserve price at Rs 81 crore this time compared to Rs 85.29 crore at the first auction of the property on October 19. The mansion will go on the block on December 22.

The Mangaluru City Corporation has formed a technical advisory group, which includes economists, environmental engineers, IT and town planners, architects, and financial experts to help the government in the implementation of the Smart City Project.

Source: Media reports

Tags: Video, supreme court, propguide, Kingfisher Villa, Mangaluru


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