Multiplexes, parks OK in NCR’s green zones
Feb 25, 2014
Source : The Times of India


DELHI: The NCR Planning Board’s green light to more real estate construction activities in ecologically fragile zones like the Aravalis not only allows more commercial activities in the name of tourism but also gives state governments virtually a free hand in deciding how they to want to use these areas.

All a state government has to do is frame a tourism policy to use these regions commercially. This emerged from minutes of the meeting circulated among NCRPB members. The minutes mention that the clause “as per state policy” is to be inserted after the words “including tourism” in the list of permitted activities in these regions.

No such activity was permitted earlier. The revised plan was cleared by the board despite serious reservations from some of its members, including Delhi Lt Governor.

A circular issued on February 21 says the modifications, including the provision to allow construction beyond 0.5% with prior permission of environment and forest authorities, have been “approved” by the board and the revised regional plan will be notified.

Haryana’s tourism policy, which incentivizes mega tourism projects, says 70% of the area will be used for games and rides, 15% for other commercial activities and the remaining 15% for parking and green space. Commercial activities includes building multiplexes, restaurants and accommodation. The policy also allows mega tourism projects to be set up on land ranging from 2.5 to 10 acres.

TOI had earlier reported how both Haryana and the real estate lobby had pushed for tourism activities to be allowed according to a state government’s policy in their suggestions to the draft revised plan.

The minutes circulated by the NCRPB secretariat record that Lt Governor Najeeb Jung said the new rules should “strengthen rather than dilute the earlier provision”. He had stressed this was essential considering its impact on developments in adjoining areas of Delhi.

But Haryana chief minister Bhupinder Singh Hooda said that the planning committee’s recommendation to allow tourism activities and construction beyond 0.5% with conditions “does not dilute the existing provision” and is an “environment safeguard” since specific permissions have to be obtained.

Latest Realty News

However, realtors still seen tapping customers
Feb 25, 2014
DELHI: Most developers and consultants have put in an “uncertain” clause in their annual planning for real estate projects, and have decided to fine tune schemes only after election results in June. But even as upcoming elections have slowed down real estate launches and announcement of new projects in the country, developers and brokers are using this time not just to clear inventory but also to tap customers in a slow market.
Noida land scam: Court rejects bail to real estate director
Feb 25, 2014
DELHI: A director of a real estate firm, who was accused in a cheating case relating to a land scam in Noida, has been denied bail by a Delhi court which said it is a matter of concern that agricultural land is being taken over by land mafia with political support without any fear of law.
Indians, Pakistanis make 1/3 of property brokers in Dubai
Feb 25, 2014
DELHI: As many as 676 real estate brokers from India and Pakistan are operating in Dubai out of a total 2,238 in the Gulf emirate, according to a new report.
Removal of the toll plaza, might hike Gurgaon Expressway property rates
Feb 25, 2014
DELHI: After the removal of the toll plaza, Gurgaon seems to have brought more than traffic to speed. According to real estate experts, dealers and builders, there is already increased activity in the real estate market and prices in Gurgaon could see an increase of about 10 to 20%.
Demand up for luxurious realty in Millennium City
Feb 25, 2014
DELHI: Millennium City Gurgaon today has a growth story that mirrors India’s growth over the last decade. Registering rapid urbanization, Gurgaon has become the city with the third highest per capita income in India.
DDA offers penalty relief
Feb 25, 2014
DELHI: In its board meeting on February 24, DDA decided to launch a one-time relief scheme for those who stayed away from the leasehold to freehold conversion camp conducted recently.
DLF sales bookings up 46 per cent to Rs 3,760 crore in April-December
Feb 25, 2014
DELHI: Realty major DLF's sales bookings rose 46 per cent to Rs 3,760 crore during April-December period of this financial year despite a slowdown in the real estate market.
Private equity inflow in realty sector up 13 per cent to Rs 7000 crore: Report
Feb 25, 2014
DELHI: Private equity investment in the real estate sector increased by 13 per cent to Rs 7,000 crore last year on higher inflows in the residential segment, global property consultant Cushman & Wakefield said.
Steep hike in circle rates likely in Delhi
Feb 24, 2014
DELHI: The capital may witness a 20-30 per cent hike in circle rates across various categories of properties over the next fortnight. The hike may be steeper for the upscale colonies in categories like A and B.
Sebi relies on Sahara order to nail fraudsters
Feb 24, 2014
DELHI: Sebi may still be fighting a legal battle to make Sahara pay over Rs 20,000 crore for refund to investors, but the regulator has cited Supreme Court order in this high-profile case to bring to book operators of at least five illicit money-pooling schemes.

Latest Realty News Of State

Realty Talk's