MCG to allow division of plots less than 1,000sqm
Owners whose plot is lass than 1,000 square metres cannot further divide it.
Jun 07, 2013
Source : The Times of India


DELHI: The city municipal corporation has sent a proposal to the state authorities asking them to allow sub-division of plots measuring less than 1,000 square metres at a nominal fee. At present, owners whose plot is lass than 1,000 square metres cannot further divide it.

According to a source, their have been some cases in the past where owners in connivance with MCG officials have managed to divide such plots and have got their building plan approved as well.

“Due to the clause that prohibits further division of plots, residents do it on the sly and that is why we want the state government to give us the permission so that we can officially divide such plots,” said an official.

Right now, there are around 77 applications pending who want to divide the plot so that they can sell them further. “We have proposed that we will collect a sub-division charge of around Rs 60 per square metre from those who want to divide their 1,000 square metre plot into further small portions,” the official added.

“Once this relief is granted to the residents, such cases where they are done illegally will come down. We hope the state authorities allow us to carry out these changes,” he said.

Latest Realty News

Real transparency: Real estate bill will empower consumer
Jun 07, 2013
DELHI: Five years or so in the making, the Real Estate Regulation and Development ( RERD) Bill has finally been cleared by the Cabinet.
Homebuyers fear anti-forces may weaken bill
Jun 07, 2013
NOIDA: Even though homebuyers in GautamBudhNagar district have hailed the passing of the Real Estate Regulatory Bill by the Union Cabinet, they are sceptical and fear that some 'anti-forces' may weaken the proposal.
Realty regulatory bill should cover all stakeholders: CREDAI
Jun 07, 2013
DELHI: The bill to regulate real estate sector should cover the authorities responsible for giving approvals for projects, besides developers community, realtors' body CREDAI said today.
Real Estate Regulatory Bill may become breeding ground of corruption, says CREDAI chairman
Jun 06, 2013
MUMBAI: Stating that the Real Estate Regulatory Bill approved by the Union Cabinet seeks to whip only errant developers, realtors apex body CREDAI Chairman Mr. Lalit Kumar Jain has expressed fear that it could encourage corruption instead of curtailing the social menace.
Wait over, Cabinet approves Real estate regulatory bill
Jun 06, 2013
DELHI: The long wait is finally over. Real estate industry in India will now have a regulatory body. The Union Cabinet approved the Real Estate Regulatory Authority Bill on 4th June 2013. The Bill would cover all developers coming up with a project of 1000 sq meters and above.
Financial results for quarter and year end 31st Mar 2013
Jun 05, 2013
GURGAON: Unitech, India’s leading business group involved in large-scale integrated real-estate development and infrastructure projects, today announced its consolidated financial results for the Quarter and Year ended 31st March 2013.
Emaar MGF Land violated rules in $1.5 bn investments
Jun 05, 2013
DELHI: The government accused Dubai-backed real estate developer Emaar MGF Land Ltd on Tuesday of violating foreign exchange rules with investments worth 86 billion rupees ($1.51 billion) over the past eight years.
Emaar MGF slapped with Rs 8,600-crore penalty notice by ED
Jun 05, 2013
DELHI: The enforcement directorate (ED) has slapped a show-cause notice on Emaar MGF Land, a joint venture between Dubai's Emaar Properties and India's MGF Development, for violation of the Foreign Exchange Management Act to the tune of 8,600 crore.
Realtors welcome real estate regulatory bill
Jun 05, 2013
DELHI: Hailing the Cabinet's approval of real estate regulatory bill, realtors' body NAREDCO today said the proposed law will bring transparency in the sector, while helping home buyers in redressal of their grievances.
Realty portal raises $2.5 mn from Nexus Venture Partners
Jun 05, 2013
DELHI: Realty portal, started by a group of IIT Bombay students, today said it has raised $2.5 million of funding from Nexus Venture Partners.

Latest Realty News Of State

Realty Talk's