Rangarajan panel on road developers bailout to be set up soon
The three-member panel will look into the issues pertaining to bailout of highway developers
Oct 18, 2013
Source : Livemint

 

DELHI: The government will soon constitute a panel, headed by PMEAC chairman C Rangarajan, to look into the issues pertaining to bailout of highway developers.

Rangarajan, who heads the Prime Minister’s Economic Advisory Council, is expected to announce the constitution of the three-member panel soon, a source told PTI, adding that it could be as early as Thursday.

The government last week approved a proposal for the postponement of premium payments by highway developers and has referred the matter to the Rangarajan panel.

The move is likely to provide relief to players such as GMR, GVK and Ashoka Buildcon. Their projects have been facing delays on account of high premium — the payment made by the developer to National Highways Authority of India under the build, operate and transfer (BOT) mode.

The premium, which is offered by companies during the bidding stage, is based on projected returns from tolls.

The ministry of road transport and highways had sent a proposal to the Cabinet seeking its nod for rescheduling of premiums of about Rs1 lakh crore in case of 23 awarded BOT (Toll) projects.

 

Latest Realty News

MCG gets nod to resume property tax collection
Oct 18, 2013
DELHI: After months of deliberation, the special committee appointed by the state government was finally able to clear the property tax muddle late on October 16, paving the way for the municipal corporation to resume tax collection in Gurgaon.
Investing in Dwarka-Gurgaon Expressway
Oct 17, 2013
DELHI: Dwarka-Gurgaon Expressway, also known as the Northern Peripheral Expressway, has been one of the hottest real estate investment destinations in Delhi/NCR with the vast potential for a robust growth.
No enhancement fee for alternative plots allotted by HUDA in Gurgaon
Oct 17, 2013
DELHI: Good news for those who were given possession of alternative plots instead of the original HUDA plot allocated to them. Now, they can avoid paying the enhancement fees in their sectors if they were originally given plots in sectors where no enhancement was demanded.
Fast track plot allotment scheme for businessmen in Delhi-NCR
Oct 17, 2013
DELHI: To counter the ongoing slowdown and shore up investor sentiment, the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has announced a fast-track allotment programme for ‘special category’ entrepreneurs. Under the new scheme, investors will be able to buy industrial plots literally ‘off the shelf’ in some of the prime HSIIDC townships in Haryana, including the ones in Bawal and Roj Ka Meo.
866 govt flats to be allotted this Diwali by Noida Authority
Oct 17, 2013
DELHI: This Diwali the Noida Authority has planned to allot 866 flats in the middle-income group, high income group, low-income group and economically weaker sections categories. A senior Authority official said around 600 flats, located in Sectors 55, 66, 71, 73, 93, 110 and 135, are of the LIG and EWS categories.
Allotment of commercial properties put on hold in Noida
Oct 17, 2013
DELHI: The Noida Authority has temporarily suspended allotment of 30 commercial properties, including two plots meant for malls in Sectors 2 and 61, for defaulting on payments amounting to about Rs 200 crore. Officials said sub-lease, mortgage and construction permission to the defaulters will also be banned. The Authority has warned of cancelling allotments of 20 more commercial properties.
Festive season is the best time to buy house
Oct 17, 2013
DELHI: The festive period, even after Navaratra is past, will continue for another couple of months. Generally, property market gets a boost as realtors offer festive deals to cut inventory.
Govt to decide soon on relaxing FDI norms for housing sector
Oct 16, 2013
DELHI: The government would soon decide on relaxing FDI guidelines for the housing sector, including easing the three-year lock-in period norm, a senior official in the DIPP said.
To unlock FDI, govt to ease lock-in period for realty
Oct 16, 2013
DELHI: Much to the cheer of foreign real estate developers, those investing in India’s construction sector might be allowed to exit before the mandatory three years stipulated at present. However, for that, they would have to complete the project and procure completion occupancy certificates from local authorities.
Commerce Ministry amends norms to prevent misuse of SEZ land
Oct 16, 2013
DELHI: Developers seeking to surrender special economic zones will have to give an undertaking that the land will be used in accordance with the recently amended guidelines so as to prevent its misuse.

Latest Realty News Of State

Realty Talk's