Relief for 40 lakh residents, govt to regularise colonies
Aug 08, 2012
Source : The Financial Express


New Delhi: After years of delay, the Delhi government is likely to start regularisation of hundreds of unauthorised colonies in a day or two which are home to around 40 lakh people. Sources said the government has completed all relevant paperwork to regularise at least a few hundred colonies. 
The government in June finalised boundaries of over 1,018 unauthorised colonies paving the way for their regularisation, a key poll promise of the Congress government which is due to face assembly elections in 15 months. 
Delhi government had issued provisional regularisation certificates to over 1,200 unauthorised colonies in the run-up to the assembly polls in 2008. 
The Sheila Dikshit government, while distributing the certificates, had promised to regularise the colonies if the Congress came to power for the third term. However, not a single colony has been regularised so far. 
The process slowed down considerably last year following allegations that some “non-existent” as well as “ineligible”colonies were given provisional regularisation certificates, flouting norms. 
After the Congress’s defeat in the municipal polls in April, Dikshit had asked all departments concerned to expedite regularisation process. Lack of developmental work in illegal colonies, which were traditional Congress strongholds, was identified as a major reason for the defeat in the municipal polls. The government had tasked the Survey of India with finalising the boundaries. 
Urban Development Minister A K Walia said once the settlements are regularised, the residents will be able to legally sell and buy their property. At present sale and purchase of property are not allowed in these colonies.

Latest Realty News

NRI real estate investment norms simplified
Aug 08, 2012
The purchase and sale of immovable properties in India by a Non Resident Indian (NRI) or by a Person of Indian Origin (PIO) is really a very simple and easy affair with not much hassles and problems. For a detailed and authentic answer one should always refer to the Foreign Exchange Management (Acquisition and Transfer of Immovable Properties in India) Regulations, 2000 as amended from time to ti
South Delhi property prices drop 20% on weak sales
Aug 08, 2012
NEW DELHI: Property prices in the upmarket residential areas of Delhi have dropped by as much as 20%, with slowdown in sales forcing builders to settle for less to cut inventory buildup. Of the 368 apartments that came into the south Delhi market over the last six months, only about a sixth have been sold, pressuring prices down by 15%-20%, according to Delhi-based property broking firm IndiaHo
Residential realty reflects sluggish growth
Aug 07, 2012
The news is still not rosy for real estate developers as residential realty in the region continues to follow a weak trajectory. Brokers in the region say that not much of sales are happening as of nowas weak sentiments standing as a stumbling block. Also, perception is floating that property rates should fall before buyers enter the market. Vikas Gupta, Punjab region vice-president for
Credai NCR Would Help Habitat For Humanity India !
Aug 07, 2012
Realtors' body CREDAI has said it will fund construction of houses for families of about 30 differently abled persons in the Delhi NCR (national capital region). As part of its CSR (corporate social responsibility), CREDAI NCR would help Habitat for Humanity India (HFHI) and Madok Foundation in developing these houses at Mundka & Bahadurgarh area. CREDAI-NCR said in a statement, "The pro
Bhubaneswar Municipal Corporation officials to learn from Gujarat model
Aug 07, 2012
BHUBANESWAR: The Bhubaneswar Municipal Corporation (BMC) would send a 10-member delegation of corporators to Gujarat on August 16 to help them learn the civic delivery system of Ahmedabad Municipal Corporation (AMC). It followed the invitation by AMC commissioner and senior Odia IAS officer of Gujarat cadre Guruprasad Mohapatra, who presented an audio-visual demonstration of AMC works here on Mon
Cuttack housing set for a big leap
Aug 07, 2012
BHUBANESWAR: The comprehensive development plan (CDP) for Cuttack development plan area (CDPA) was finally notified on Sunday. The plan envisages around two-and-a-half times increase in land used for residential purpose from 9.92 per cent at present to 23 per cent by 2030. The CDP suggested creation of 12,000 houses for economically weaker sections (EWS) category to rehabilitate the existing s
Realty check for new service tax regime
Aug 06, 2012
The service tax regime has been overhauled vide Budget 2012 — the 18-year-old classification-based service tax law has been replaced with ‘negative list’ based levy. This has widened the scope of services manifold. The shift to a negative list-based taxation is aimed at aligning the service tax system to the proposed Goods and Services Tax regime. It is hoped that the GST will help unify the
Real estate, election campaigns routing black money
Aug 06, 2012
NEW DELHI: Money generated through illegal means is laundered through various means, including real estate and election campaigns, in India, a report of the US State Department has said. "High-level corruption both generates and conceals criminal proceeds. Illicit funds are often laundered through real estate, educational programs, charities, and election campaigns. Companies use trade-based m
Cities should be made hubs of economic growth: official
Aug 06, 2012
Secretary in the Union Urban Development Department Sudhir Krishna on Friday said urbanisation could not be prevented and the solution lay in creating planned cities making them hubs of economic growth. Delivering the keynote address at the South India Real Estate Conference 2012 organised by Federation of Indian Chambers of Commerce and Industry (FICCI) here, Mr. Krishna said at a time when
Corporators up in arms against Berhampur MP
Aug 05, 2012
BERHAMPUR: Cutting across party lines, several corporators of Berhampur Municipal Corporation (BMC) on Friday engaged in a heated exchange with BJD MP from Berhampur Siddhant Mohapatra, holding him responsible for lack of development of the town. "The MP is not interested in the town's development. He has never attended any council meeting to discuss issues related to this, even though he has

Latest Realty News Of State

Realty Talk's