#RealtyNewsRoundUp: Wealth In India's Realty May Double In 5 Years, Says Report
Wealth in real estate in the country is likely to double to Rs 121 lakh crore in the next five years, signifying a turnaround for the sector in future, says the Karvy India Wealth Report. While stating that the implementation of the note ban, the real estate law and the goods and services tax is transforming India's real estate sector, the report also says that individual wealth in real estate grew by 8.62 per cent to reach Rs 60.25 lakh crore in the financial year 2016-17.
The Uttar Pradesh government on December 13 approved the draft of a Bill to enact a stringent law on the lines of the Maharashtra Control of Organised Crime Act (MCOCA) to combat land mafia, mining mafia and organised crimes in the state. The Bill is expected to be introduced in the Winter Session of the State Legislature, which starts today.
The Supreme Court has asked the Centre whether it has looked into the aspect of the economic loss due to health hazards caused by severe air pollution in the national capital region. The top court raised the question while referring to an affidavit filed by the Ministry of Environment and Forest which said it had constituted a high-level task force to look into the issue of stubble burning and options to discourage the burning of crop residues.
The Supreme Court on December 13 pulled up governments of Uttar Pradesh and West Bengal for showing "lack of concern" over the issue of providing shelter to urban homeless, and asked their chief secretaries of these states to appear before it. The apex court had on November 23 directed UP, West Bengal and Haryana to place before it a road map on the implementation of the scheme for urban homeless.
Source: Media reports