Govt mulls denotification of land in NW Delhi villages

Posted on May 17, 2012 by Deepti

New Delhi: The Delhi government is planning to denotify 500 acres of land,which it had acquired from 1000-odd farmers to develop a housing project. The land was notified in 2006 and a portion of the first phase of the Narela project was supposed to come up there. However, the government failed to award the special rehabilitation package of nearly Rs 100 crore to the farmers, forcing them to rise up in protest. Now, with the denotification,the farmers might get back their land.
Last October, Delhi high court had asked the government to award the package money Continue reading →

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Coming soon: Affordable housing policy for all

Posted on May 16, 2012 by Deepti

In two months, India could have a brand new affordable housing policy, an effort to give some boost to a weakening real estate sector.

The Union Ministry of Housing and Urban Poverty Alleviation (Mhupa) is in the process of finalising such a policy in two months, reports Business Standard.

The government had already allowed external commercial borrowing (ECB) for low cost houses in India in the annual Budget. But the real estate companies are not too keen on this segment because of the low margins. Hence the government is now trying to make Continue reading →

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Land Scam: I-T dept attaches chhole vendor’s properties

Posted on May 16, 2012 by Deepti

New Delhi: Almost after five years since the multi-crore land scam involving MCD and DDA officials came to light, the Income Tax (I-T) department has attached five properties of the scam’s alleged kingpin — the chhole-bhature vendor-turnedmillionaire Ashok Malhotra.

The department seized five of his properties at Mukherjee Nagar and Jahangirpuri after having pasted recovery notices. The owners of the said properties are prohibited and restrained from either transferring or changing ownership. The properties belong Continue reading →

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DDA taking measures to repair cracks in Dwarka flats

Posted on May 16, 2012 by Deepti

New Delhi: The Delhi Development Authority is taking measures to repair the cracks that have developed in several of its flats in Dwarka’s sector 13.

“Keeping in view the site condition of the flats, NCCBM (National Council for Cement and Building Material) has been appointed as consultant to inspect the flats and suggest remedial measures,” Minister of State in the Urban Development Ministry Saugata Roy said.

“DDA has informed that the repair work in dangerous roofs slab as per consultant’s Continue reading →

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Noida farmhouse scheme under UP govt scanner

Posted on May 16, 2012 by Deepti

Noida: Following allegations of a major farmhouse scam in Noida, the Uttar Pradesh chief minister, Akhilesh Yadav, has ordered an investigation into the scheme launched by the Noida Authority in 2009. In a letter addressed to the Noida Authority chairman Rakesh Bahadur,  the government has directed him to submit a report within a week.The report will deal mainly on three important points land acquisition, allotment rate and the procedure of allotment of the farms. The scheme allegedly led to a loss of nearly Rs 300 crore to the state exchequer. Continue reading →

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Noida authority stops Ponty’s City Center project

Posted on May 16, 2012 by Deepti

The firm was found to have been carrying out massive digging work in a large area, resulting in soil being piled up. NOIDA AUTHORITY

Noida: The change of guard in Uttar Pradesh has dealt a severe blow to businessman Ponty Chadha.

The Noida Authority has issued a showcause notice and asked Chadha’s realty arm Wave Mega City Center Pvt Ltd to immediately stop his ambitious City Center project spread in 162 hectares of prime land in sectors 32 and 25A. Continue reading →

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Buyers want special court for land row

Posted on May 16, 2012 by Deepti

Noida: With the Greater Noida Authority and farmers of Noida Extension deciding to move the Supreme Court to challenge the October 21 verdict of Allahabad high court, homebuyers are staring into yet another protracted round of legal battle, which would further delay construction work on their homes. Several homebuyers have now demanded establishment of a special court that could fast-track the settlement of all land-related legal disputes in Noida Extension. The Noida Extension Flat Owners and Members Association (NEFOMA) also submitted a memorandum to the PMO on Continue reading →

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No review of Noida land order,says Allahabad HC

Posted on May 15, 2012 by Deepti

Allahabad: Home-buyers in Noida and Greater Noida will have to wait longer for their flats.The Allahabad high court on Monday dismissed the plea of the Noida and Greater Noida authorities seeking review of its earlier order requiring all projects in the area to get the NCR Planning Boards approval. So, till these clearances are in place, buyers will not get possession.
However, there was some relief for the buyers as well, with the court striking down a review petition by a group of villagers who wanted the land acquisition quashed in a Continue reading →

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Godrej Properties to focus on residential space

Posted on May 14, 2012 by Deepti

Mumbai: Bullish on improvement in the real estate sector in the next couple of months, Godrej Properties, the real estate arm of Godrej Group, plans to continue its focus on residential space, a top company official said.

“Though there is negative sentiment among buyers at present, the demand for houses will continue to grow, which is a huge opportunity for developers like us. We will continue to remain very much focused on the residential space,” Godrej Properties (GPL) managing director and chief executive Pirojsha Godrej said. Continue reading →

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Affordable housing to soon become reality

Posted on May 14, 2012 by Deepti

With Chief Minister Prithviraj Chavan approving the joint venture policy for the Maharashtra Housing and Area Development Authority (MHADA) this week, the construction of at least a lakh affordable houses is expected to take off in the peripheral areas of the Mumbai Metropolitan Region in the immediate future.

The projects are spread across Thane, Kalyan-Dombivli, Vasai-Virar, Panvel and Raigad. Officials said these projects were issued the letter of intent by MHADA almost a year ago but were stuck for lack of a formal approval from the state government. Continue reading →

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