Jewar Airport construction to kickstart in 2018
December 16, 2017

The Uttar Pradesh government has announced that the construction work on Jewar airport will start next year. All related departments have been directed to make necessary arrangements to ensure timely commencement. Covering 7,500 acres of land, the Jewar airport will be developed in phases. The project would be developed as the biggest airport in India in terms of space. The first phase of the upcoming international airport would involve construction of about 4,000 acres. Prabhat Kumar, Chairman, Yamuna Expressway Industrial Development Authority (YEIDA), has stated that the airport will be developed in the first phase, along with other allied services…

Over 70% homes launched in Delhi NCR between Rs 20-40 lakh budget
December 16, 2017

According to a recent report by Anarock, around 73 percent of the affordable houses launched in Delhi NCR region in the last three years are priced between Rs 20 lakh and Rs 40 lakh. However, the development of such units priced below Rs 20 lakh segment is slow and lagging. Experts opine unfavourable economics as the primary reason for developers to not construct homes within Rs 20 lakh budget. Anuj Puri, Chairman, Anarock Property Consultants, has stated that with higher incentives by the central government, we can expect increased participation from private developers in this price segment. Sales-wise, buyers were…

Dwarka Expressway to become operational by March 2018
December 14, 2017

The Northern Peripheral Road, the 24-km long 8-laned Dwarka expressway is in its final completion stage. The central government has recently acquired 22 hectares of land that had stalled the project. Officials have stated that the expressway will be operational by March 2018. The project was supposed to be completed by 2012. It has been observed that two troublesome stretches were holding back the completion of the expressway - acquisition of a 900m patch on the Delhi side of the expressway in Dwarka and a one-km stretch in New Palam Vihar in Haryana. Presence of residential units was the primary…

Greater Noida authority relaxes lease rent norms for builders
December 14, 2017

The Greater Noida Industrial Development Authority (GNIDA) has recently relaxed lease rent rules for group housing plots by approving a proposal for collecting lease rent in three instalments from builders. This move will allow at least 4,000 homebuyers to register their homes immediately.  BK Tripathi, Additional Chief Executive Officer (ACEO), GNIDA, has stated that all interested builders will now have to deposit the first instalment immediately. Later, the builder can submit the second instalment by January 15, 2018, and the third instalment by March 15, 2018. The relaxation will be given to builders who have been granted completion in the…

HUDA restricts sale or transfer of properties with pending bills
December 14, 2017

The Haryana Urban Development Authority (HUDA) has directed that all allottees with pending dues including taxes and other bills are not allowed to sell or transfer their properties. Officials have been asked not to process such property applications. The decision was taken considering the rampant increase in the number of due payments. J Ganeshan, Chief Administrator, has recently inquired about the pending dues from allottees with properties under HUDA. Officials have informed that the Authority has to collect around Rs 48.79 lakh against pending water and sewerage bill. The Authority has decided to disconnect water supply to such defaulters. As…

Gurgaon civic body to auction over 100 properties on Dec 28
December 12, 2017

Municipal Corporation of Gurgaon (MCG) will auction over 100 properties by December-end this year for not paying property taxes. Most of the properties are commercial units, located in these areas - MGF Mall, MG Road, DLF Galleria and DLF Corporate Greens. Officials have informed that overall 102 properties will be up for auction on December 28, 2017, spread across four zones of the district. The auction of properties can be called off in cases where the property owners clear the dues before the auction date, adds MCG senior official. The reserve price of the property for the auction is equivalent…

Delhi NCR emerges as the most affluent office location
December 12, 2017

According to a report by Cushman & Wakefield, Delhi NCR houses the most expensive office rental spaces across the country. Globally, Delhi NCR is positioned at the 84th place in the list of most expensive office locations. The average rental values of office spaces in Delhi NCR were recorded at Rs 430 per sqft per month. The cost of each workstation in Delhi NCR is over Rs 3.5 lakh per annum. Bandra-Kurla Complex (BKC) in Mumbai has been rated as the second most expensive location, which saw rental costs of over Rs 2 lakh per annum for every workstation. Anshul…

Construction work on Mehrauli-Manesar road to resume soon
December 9, 2017

The construction work on the Greater Southern Peripheral Road (GSPR) project, connecting Mehrauli in Delhi to IMT in Manesar, will resume soon. In 2016, HUDA had initiated the land acquisition process for the 40km long stretch, which was halted due to some legal issues.  Officials have stated that the state government is now conducting a feasibility survey as per the transit-oriented development (TOD) policy of the road project on the back of high cost of land acquisition. Expected to lower traffic chaos from Delhi to Manesar's industrial area, the road project would need to acquire about 395 acres of land…

DDA to finish development work in Rohini scheme soon
December 8, 2017

The Delhi Development Authority (DDA) today assured the completion of developmental activities in the Rohini residential scheme of 1981 post which the allotment-cum-demand letters will be issued to the remaining 14,352 allottees. Launched in 1981 by the DDA for MIG, LIG and EWS/Janta categories, the Rohini Residential scheme was expected to house 8.5 lakh population across 2,497 hectares. Facilities including group housing, community centre, conveyance shopping and other facilities were part of the proposed scheme. DDA mentioned that out of the total plots, 97 per cent plots were reserved for the allotment to the economically weaker sections. It received 82,384…

Funding of Rs 330 crore for Jewar airport project
December 8, 2017

The Uttar Pradesh (UP) government has approved sanction of Rs 330 crore to the Yamuna Expressway Industrial Development Authority (YEIDA) to start acquiring land for the Jewar international airport, which was given a go ahead by the Centre earlier this year. Speaking on the occasion, Arun Vir Singh, Chief Executive Officer, YEIDA mentioned that once the authority receives money from the government, the proposal for land acquisition will be forwarded to the Gautam Budh Nagar district magistrate. For the first phase of the airport, 1,200 hectares of land has to be acquired from the eight allocated villages - Runhera, Kishorepur,…

North Delhi civic body proposes hike in property tax rates
December 7, 2017

The North Delhi Municipal Corporation (NDMC) has proposed revised rates for property tax for the coming financial year (FY) 2018-2019. The move is likely to generate Rs 550 crore in revenue annually. Officials have informed that the last hike in tax rates was implemented in 2004.  The municipal corporation has proposed 15 percent and 20 percent property tax rates for residential and commercial properties, respectively. At present, the tax rates levied on residential properties vary from 7-12 percent. A proposal has been made to reduce the 15 percent rebate provided to owners who pay the tax before June 30 to…

Sealing drive on illegal properties in Delhi to revive soon
December 7, 2017

The Supreme Court is likely to revive the monitoring committee to identify and put a seal on all illegal structures in the national capital - Delhi. It has been observed that the authorities have failed to stop illegal constructions in the city. Therefore, the number of unauthorised properties have increased in the recent past. A proposal to restore the powers of the monitoring committee to identify and seal unauthorised properties would be tabled soon. In March 2006, the apex court had directed sealing of all illegal constructions in the city and formed a monitoring committee to conduct and monitor the…

DDA finalises Rs 5,100 as registration fee for affordable housing scheme
December 6, 2017

Delhi Development Authority (DDA) has fixed registration fee of Rs 5,100 for online subscription to the affordable housing scheme. The authority has identified various areas in the city where affordable housing projects would be developed under the public-private partnership (PPP) model. The housing project is for central (state/public/private) employees (retired and serving). The registration is open for a total number of 360 houses. Draw of these affordable homes would be held on December 12, 2017. Officials have stated that the registration amount deposited while applying online would be refunded if the applicant is not selected in the draw. It should…

Gurgaon authority approves 27 km Huda City centre-Dwarka metro route
December 6, 2017

The Gurugram Metropolitan Development Authority (GMDA) has now formally proposed a 27.5 km long new metro extension corridor, connecting Huda City Centre to Dwarka Sector 21. The proposal has been tabled after taking feedback from local residents. In October, the Delhi Metro Rail Corporation (DMRC) had suggested two routes connecting Gurgaon and Dwarka. One covers a 12 km stretch from Huda City Centre to Gurgaon railway station and further up to Dwarka Sector 21. The second proposal is a 27 km stretch that will start at Huda City Centre, crossing the expressway at Hero Honda Chowk via Subhash Chowk, to…

DDA digitisation drive underway, will be functional in 18 months
December 5, 2017

To minimise physical intervention and infuse transparency in the functioning of the authority, Delhi Development Authority (DDA) has decided to digitise all documents, data, and land details. With a wide network of 22 departments and 60 field offices, the authority has already been promoting the digital payments to stop corruption. Experts have welcomed the move as the digitisation would minimise physical movement of files and tracing them would be hassle free. Physical movement of papers is considered as one of the main reasons for corruption in the development authority. The DDA has even invited bids for this project named DDA…

Builders to deliver 10,000 flats in Noida & Gr Noida by December: CREDAI
December 2, 2017

The Confederation of Real Estate Developers Association (CREDAI) has announced that only 10,000 residential units in Noida and Greater Noida would be handed over to homebuyers by December 31, 2017. This would only be possible if the builders clear their pending dues and other formalities with the respective authorities. In September 2017, the Uttar Pradesh government had issued a directive ordering authorities in Noida and Greater Noida to hand over at least 50,000 houses to homebuyers by December 12 this year. To meet the set deadline, the state government has formed a three-member committee. Pankaj Bajaj, President, CREDAI-NCR, has stated…

DDA housing scheme 2017 results out, allotment letters within a month
December 1, 2017

Delhi Development Authority (DDA) has announced draw of lots and selected 12,617 applicants from the total number of applications received. The authority had got over 46,000 applications for the housing scheme. The selected applicants can now own flats under the DDA scheme that are located in different parts of the city including Rohini, Dwarka, Narela, Vasant Kunj, Jasola, Pitampura, Paschim Vihar and Siraspur. Officials have stated that allotment letters to the selected applicants would be dispatched soon. Once the letters are mailed, the winners are required to make payments for the flat within three months. If no payment is made…

Yamuna Authority issues completion certificates to over 1000 flats
December 1, 2017

Yamuna Expressway Industrial Development Authority (YEIDA) recently issued completion certificates to over 1000 residential units under a housing project under its jurisdiction. Another 806 plots allotted under the 2009 scheme were given possession letters as well. Officials have stated that other developers with ongoing housing projects have also applied for completion certificates. The Authority has already started the process of registering around 3000 residential units launched back in 2013. Arun Vir Singh, CEO, YEIDA, has informed that completion certificates were issued for 1041 flats in the region. Moreover, five builders with realty projects in YEIDA area with over 1700 flats,…

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