The six-lane Yamuna Expressway (erstwhile Taj expressway) is all set to get ready for commuting before the Commonwealth Games. The project, scheduled for completion by April 2013, is being speeded up on orders of CM Mayawati who wants CWG visitors to get a fast ride to Agra, which will cut Delhi-Agra travel time by an hour and ease congestion on the Mathura Road route.
At a time when the real estate sector has started reviving after two and a half years of downturn, the Finance Minister appears to have put a couple of roadblocks ahead for the residential as well as commercial real estate sector.
As the countdown to Commonwealth Games 2010 has already started and the games are just 228 days away, it is time to take an account of how well the Capital is prepared for the D-day.
International Airport Pvt. Ltd (DIAL), the private operator of the Indira Gandhi International Airport in New Delhi, has successfully raised Rs 1,472 crore from the sale of 45 acres of land to developers. This is well above the Rs 912 crore it had expected to raise from the sale last year.
The Supreme Court has granted approval to the Delhi government to acquire approximately 12,000 acres of land in and around Chhattarpur in south Delhi. This acquisition is for the development of a mega sub-city Chattarpur belt on heels of Dwarka — as already envisaged in the Master Plan of Delhi (MPD)-2021.
Real estate developers met finance minister Pranab Mukherjee recently to press for incentives in the forthcoming budget to boost housing. Among their key demands was a plea to allow external commercial borrowings (ECBs) for home builders.
For the residents of NCR of Delhi seeking to buy a property, the recent housing scheme launched by Ghaziabad Development Authority is yet another chance to try your luck.
The Chief Minister of U.P. Mayawati has thrown open a new residential scheme in Greater Noida in four different sectors, namely ETA-2, Omicron-3, Omicron-1 and Omicron 1A to offer 3216 new flats ranging from Rs 19.90 lakh to Rs 38.67 lakh for fresh applicants.
Archaelogical Survey of India (ASI) has taken a serious note of the fresh construction started by Railways in a prohibited area falling within 100 meters of a notified monument.
A host of hotels in Capital to be built on land allocated to airport developer DIAL are likely to start functioning only in 2011, well after the curtains to Commonwealth Games 2010.
As there are plenty of loopholes in the existing "Property Bill' in Delhi, the draft for revised 'Property Bill' with digital registration of properties right and a nodal authority for settling fraudulent transactions is up for review .
The liberalization norms followed by MCD regarding the development of plots and a series of advantages the plot holders could get by redevlopment of old plots is now paving way for the dedicated stilt parkings for different plots under redevelopment. The same also has the added advantage of offering the old plot holders with more headroom in each floor, apart from any additional floor they can construct.