#RealtyNewsRoundup: West Bengal Makes Enrolment Of Developers A Must

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

In a bid to relieve consumers from the painstaking search on the nature and legality of real estate projects before booking a flat, the state government will make realtors across the state enroll with the West Bengal Real Estate Regulatory Authority. This will help record details of their new projects, which would be available online. The mechanism is part of the rules being framed under the Real Estate (Regulation &Development) Act, 2016.

Real Estate major Godrej Properties has reported a 77 per cent year-on-year decline in its consolidated net profit at Rs 23 crore for the quarter ended September. The company said in its release that its total income for the quarter declined 73 per cent from a year ago period to Rs 368 crore.

The National Green Tribunal (NGT) has stayed the work on 268 km-long Gujarat portion of Vadodara-Mumbai six-lane expressway till November 29. A farmers’ body has alleged that the land has been acquired but they have yet to get the compensation.

Two stretches of the Hyderabad Metro Rail are expected to be thrown open to public by the middle of next year. The Hyderabad Metro’s eight km-long stretch between Nagole and Mettuguda and the 12-km journey between Miyapur and SR Nagar may commence commercial operations on June 2.

Tags: Mumbai, Hyderabad, Video, Godrej Properties, West Bengal


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