Poll sop: Freehold rights in 45 resettlement Delhi colonies
Sep 10, 2013
Source : The Economic Times

 

DELHI: Seen as a poll sop, Delhi Government will grant freehold rights tomorrow to residents of 45 resettlement colonies which were developed almost 50 years ago.

Chief Minister Sheila Dikshit said the certificates conferring freehold rights will be presented to a number of residents by Congress Vice President Rahul Gandhi at a function tomorrow.

Around seven lakh families will be benefited by the government decision.

Officials said original allottees and their legal heirs will have to pay five per cent of the existing circle rates for converting the properties to free hold while occupants who purchased properties and residing prior to March 31, 2007 will have to pay 30 per cent of circle rate for the same.

All occupants other than tenants and residing in the colonies prior to December 31, 2011 will be charged 100 per cent of the circle rate for getting free hold rights of their properties.

The resettlement colonies are situated in different parts of the city including Sriniwaspuri, Wazirpur, Satya Niketan, Janakpuri, Pankha Road and Madangir.

Union Urban Development Ministry had given its approval for granting freehold rights to the residents of the resettlement colonies.

These colonies were developed in 1970s and people putting up there have been finding it difficult to effect transfer of title as free hold rights were not offered yet.

"Hence, it has been decided to grant freehold rights to the allottees," the officials said.

Latest Realty News

South Delhi's property prices down by 20-35%, Defence Colony and Vasant Vihar worst hit
Sep 10, 2013
DELHI: Prices of homes in upscale South Delhi have dropped by 20 per cent-35 per cent over the last one year, with developers and cash-strapped investors offering big discounts to dispose off their assets in a slowing economy.
Peer review slams Delhi Master Plan 2021 draft
Sep 09, 2013
DELHI: The draft Master Plan 2021 for Delhi, now under preparation, has been criticized by the National Institute of Urban Affairs (NIUA), which has been assigned the task of doing a peer review by the urban development ministry.
RBI’s move to benefit all stakeholders: Nahar Group
Sep 07, 2013
DELHI: ”While most in the industry would feel that this move by RBI is lop-sided towards protecting the consumer and wouldn’t augur well for Banks and Developers, I think it’s a very nice move which spells a win-win situation for all. Nahar Group was the pioneer in setting up the 20:80 scheme and has sold till date thousands of apartments based on this scheme,” says Manju Yagnik, Vice Chairperson of Nahar Group.
New ‘high density’ policy will boost affordable housing in NCR
Sep 07, 2013
DELHI: The Haryana government recently approved a ‘high density’ housing policy under which agencies like the Haryana Urban Development Authority (Huda) will allow developers to increase the density of population in their group-housing projects.Realty players believe that the new high density policy will motivate builders to construct more small-sized housing units in a given area.
DDA to offer service apartments on minimum 2,000 sq mt plot
Sep 06, 2013
DELHI: Aiming at addressing housing requirements in the capital, Delhi Development Authority (DDA) has decided to offer service apartments which will be introduced on a minimum plot size of 2,000 sq mt, officials said.
L&T Realty puts 3 properties in Chandigarh on the block
Sep 06, 2013
DELHI: L&T Realty has put its 1.15-million sq ft mall, a 400,000-sq ft office building, and its under-construction Hyatt Regency hotel in Chandigarh on the block, signalling its intent to exit non-core businesses, said three people with direct knowledge of the development.
RBI prohibits banks from giving 80:20 upfront home loan
Sep 05, 2013
DELHI: It has been observed that some banks have introduced certain innovative Housing Loan Schemes in association with developers/builders, e.g. upfront disbursal of sanctioned individual housing loans to the builders without linking the disbursals to various stages of construction of housing project, interest/EMI on the housing loan availed of by the individual borrower being serviced by the builders during the construction period/specified period, etc. This might include signing of tripartite
RBI should allow flexibility in housing loan schemes: CBRE
Sep 05, 2013
New Delhi: Anshuman Magazine, Chairman & MD, CBRE South Asia Pvt. Ltd. says, “The RBI’s decision to disallow banks from granting loans for under-construction projects through innovative schemes will adversely affect the sale of projects where such schemes were prevalent. No doubt banks should do their due diligence and assess risks before agreeing to fund these schemes. However they should be allowed the flexibility of such schemes which encourages more people to own homes.”
RBI move may spoil the party for realty players
Sep 05, 2013
DELHI: The slowdown-hit realty players had found a sweet spot in the 80:20 scheme for home buyers. But the Reserve Bank of India’s move to bar banks from giving upfront loans for under-construction projects through such schemes may have disastrous consequences, developers say.
Property fraud cases to now get solved easily
Sep 04, 2013
NOIDA: From now on, cases of forgery related to registration of land and property in Gautam Budh Nagar can be resolved at the department of stamps and registration in Noida. Earlier, complainants had to move various courts to adjudicate these matters, which often stretched on for several years owing to pendency of cases.

Latest Realty News Of State

Realty Talk's