#WeeklyRoundup: Centre Asks States To Implement RERA By May 1 [Video]
The Centre government has warned states of a situation of vacuum if necessary steps are not taken to implement the Real Estate (Regulation & Development) Act, 2016 with the May 1 deadline. In a letter to state chief ministers, Minister of Housing & Urban Alleviation Venkaiah Naidu has asked them to personally look into the matter and ensure timely implementation of the law.
Anyone who has got a home loan sanctioned after January 1 and has less than Rs 18 lakh annual income, will now be eligible for an interest subsidy of 3-4 per cent. This benefit can also be availed for acquisition/ construction of a new house including repurchase. Moreover, flats measuring up to 960 sq ft and 1,184 sq ft will be eligible for three per cent and four per cent interest subsidy respectively for the specified income group.
To allow more non-forest activities, including real estate projects, in the ecologically fragile Aravalis, the ML Khattar government in Haryana has moved a proposal to amend a key provision in the Regional Plan of NCR 2021, which restricts using barely 0.5 per cent of land for “recreational activities”.
In a bid to come out of the demonetisation woes, Kerala-based builder Asset Homes has come out with a plan for constructing 100 sq ft self-contained units christened `selfie' apartments in different cities of the country. Costing under Rs 10 lakh, these air-conditioned apartments are being proposed at Kochi, Bengaluru, Hyderabad, Pune and Visakhapatnam.
Mumbai International Airport Ltd (MIAL), a GVK-owned consortium running the Mumbai airport has won the bid for the much-delayed, discussed and debated Rs 16,000 crore airport projects coming up in Navi Mumbai. Rival GMR Infrastructure was the only other bidder in the final round. The project is seen as a crucial alternative to the congested airport in the city.