#RealtyNewsRoundup: YEIDA To Cancel Land Allotment Over Non-Payment Of Dues
Days after the Greater Noida Authority cancelled a group housing plot in the city, the Yamuna Expressway Industrial Development Authority (YEIDA) has initiated the process of cancellation of seven allotments in its area. Developers whose allotments have been cancelled owe the Authority about Rs 525 crore, say reports.
According to housing department officials, Maharashtra would follow the blueprint provided in the Central government’s Real Estate (Regulation and Development) Act, 2016. The state is planning to publish the final rules of the law this month so that it could be implemented from May 1. According to the officials, the file for publishing the rules is in the final stages of approval.
Meanwhile, the western state may soon join the league of states that have been promoting the public-private partnership (PPP) model to boost affordable housing under the Pradhan Mantri Awas Yojana (PMAY). This model will involve private developers entering into a partnership with the government to build affordable housing.
Online home buyers' group Fight for RERA has urged the Centre to declare March 10 as homebuyer’s day to empowerment those, who have been suffering in the hands of developers.