PROPGUIDE − A Complete Property Guide
#happyhome

#WeeklyRealtyNewsRoundup: DMRC To Sell Apartments In Delhi

Loading video...

Description

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

The Centre recently said the Navi Mumbai International Airport, which will act as the aerial bypass to ease traffic at the Chhatrapati Shivaji International Airport, may start operations by December 2019. Minister of state for civil aviation Jayant Sinha said all major clearances had been obtained, including acquisition of 160 hectares and the phase-I of aircraft operations with a capacity to handle 10 million passengers per annum is expected to commence by December 2019. 

Unable to sell its commercial space at metro stations, the Delhi Metro Rail Corporation (DMRC) has decided to sell residential property in the national capital. The DMRC will construct 93 flats at Okhla and 350 apartments in Janakpuri in 2BHK and 3BHK configurations. The flats, which would be allotted through draw of lots, are likely to cost between Rs 80 lakh and Rs 1 crore. 

In an effort to make real estate investment trusts (REITs) more attractive to realtors and investors, the Securities and Exchange Board of India (Sebi) has relaxed norms for related party transactions and allowed these trusts to invest more in under-construction assets. The proposed move would allow up to 20 per cent investment by REITs in under-construction projects, up from 10 per cent allowed currently. 

The Maharashtra government told the Bombay High Court that it had taken back over 38 sq km of land given on a lease or occupancy basis to private entities following breach of terms of allotment. An affidavit by the Department of Revenue and Forests states that nearly 1,513 sq km was allotted to 81,141 entities and 5,119 cases were reported in which land was being misused. 

The Union Cabinet has given its go-ahead to introduce amendments to the Benami Transactions (Prohibition) (Amendment) Bill, 2015. Under the Bill, those disclosing assets under the black-money window — the Income Disclosure Scheme (IDS) — will get immunity from the stringent Benami Act. 

Tags: News, REIT, Realty news, REITs, Realty news Delhi and NCR, Realty News Roundup, 2015, Maharashtra government, DMRC, Video, Real Estate Investment Trusts, Weekly Roundup, Chhatrapati Shivaji International Airport, propguide, Delhi Metro Rail Corporation, Navi Mumbai International Airport, Benami Transactions (Prohibition) (Amendment) Bill, Weekly News Roundup


Why Real Estate Is So Expensive In Mumbai

In India’s most prosperous city, half the population live in slums. In Savills' top 12 most expensive cities in the world, Mumbai was the cheapest city to live in. Yet, why is real estate in Mumbai the most expensive real estate is the world?

May 18 2015

+ Click Here To Read This Article

#RealtyNewsRoundup: Navi Mumbai Airport To Start Operations By Dec 2019, Says Minister

Here is PropGuide's selection of top news stories from the real estate sector.

July 22 2016

+ Click Here To Read This Article

#RealtyNewsRoundup: Uttar Pradesh To Hike Stamp Duty, Circle Rates

Here are the top news stories from the real estate sector.

July 21 2016

+ Click Here To Read This Article

[VIDEO] New Metro Link To Revive Noida As A Hot Real Estate Market

Noida and Greater Noida will soon be connected by Metro and further to Delhi through Janakpuri West to Botanical Garden line. PropGuide on this development will bring the twin cities back on the country's real estate map as the hottest market.

June 01 2016

+ Click Here To Read This Article

Is NCR Losing Out To Mumbai, Bengaluru, Pune?

The National Capital Region, for very long, has been the largest residential real estate market in India. But, is NCR losing out to Mumbai, Bengaluru and Pune?

November 10 2015

+ Click Here To Read This Article

Housing for All by 2022, act as a major driver for the upliftment of construction industry. in the...

PropGuide simplifies complex real estate jargons for you.

The real estate sector is currently in a recovery phase after a prolonged slowdown and the recovery...

The Akrama-Sakrama Scheme came into force in March 23, 2015. The owners now have an extended...

Union Urban Development Minister Venkaiah Naidu says India will soon have a more efficient parking...

Reports show authorities in Noida are mulling an exit policy for developers to surrender vacant...

Here is all you need to know about 'betterment fees'.

A building code is a set of norms that govern construction of buildings by stipulating minimum...

Proptiger has released it's quarterly review report on India's real estate sector. Ankur Dhawan,...

PropGuide simplifies complex real estate jargons for you.

Sunil Mishra, Chief Business Officer, PropTiger, talks on new online realty platforms for NRIs.

Subscribe Now

To stay tuned with real estate updates

Pick:

x +

Drop Your Query here


Top