Daily interesting real estate news

Punjab government to identify new quarries on private lands

The Punjab government has decided to identify and approve new quarries on private lands to provide sand and gravel at cheaper rates to people. The scrutiny or on-site inspection of the location which was shown as probable new quarries in the applications will be conducted by the sub-divisional level committee, the minister said.

Haryana RERA threatens action against real estate agents for charging arbitrary brokerage

Gurgaon bench of Haryana Real Estate Regulatory Authority (HaRERA) has threatened to barred the real estate agents if they charge arbitrary brokerage from homebuyers. The real estate regulatory authority’s warning comes in the wake of number of complaints filed on daily basis in the city where the cheated buyers or allottees turn up for relief.

Odisha: NGT imposes fine of Rs 36 crore for illegal extraction of sand

The National Green Tribunal (NGT) has directed the Odisha State Pollution Control Board (OSPCB) to initiate proceedings against lessees for recovery of penalty and environmental compensation for illegal extraction of sand from Bughabalanga river under Badasahi tehsil in Mayurbhanj district. The NGT's East Zone bench on Wednesday said given that illegal mining to the extent of over 1.49 lakh cubic metres of excess sand has been established at Mahupura, Dingiria and Arapata.

NCDRC penalises Raheja developer for delay in Revanta project in Gurugram

The National Consumer Disputes Redressal Commission (NCDRC) has penalised real estate developer Raheja and have ordered refund along with interest for delaying its project ‘Revanta’ at Sector 78, Gurgaon. The order came on the complaint of 30 homebuyers who had sought relief from commission. According to homebuyers the project is already delayed by 4-5 years and at the pace construction is on, it will take another four years to complete it.

Noida: Nine group housing plots up for grabs in sectors 146, 151

The Noida Authority has launched a group housing plot scheme in sectors 146 and 151, wherein nine plots ranging from 7,800 to 94,000 sqm will be allotted through e-auctions. The Authority has made several changes to the allotment policy to ensure that buyers don't get cheated while it gets full payment on time. Six plots ranging 18,000- 20,000 sqm are available in Sector 151 while three plots in Sector 146 range from 7,800-94,000 sqm.

Assam Land and Revenue Regulation to be amended to counter unabated encroachment

State cabinet has decided that Assam Land and Revenue Regulation, 1886 to be amended to counter unabated encroachment on over an estimated 10,897 bigha Bhoodan & Gramdan land. The amendment will involve vesting lands under the control of Assam State Bhoodan Gramdan Board to the Government, providing rights to the grantees.

Punjab National Bank hikes MCLR by 0.05% across tenors

Punjab National Bank has raised the marginal cost of funds-based lending rate (MCLR) by 0.05 per cent across tenors, making most of the consumer loans costlier. ​The benchmark one-year tenor MCLR, which is used to price most consumer loans such as car, auto and personal, will be at 7.70 per cent against the existing 7.65 per cent.

DHFL bank fraud: Court grants interim bail to businessman in Rs 34,615 crore scam

A Delhi court granted interim bail to businessman Ajay Ramesh Nawandar, arrested in a Rs 34,615 crore bank fraud case involving Dewan Housing Finance Limited, considering deterioration in his medical condition. The application seeking bail disclosed medical grounds for release which were corroborated by the report from the Medical Officer In-charge of the jail dispensary, the judge noted.

Nagpur development body allots 49 quota flats under PMAY to general category

There were 49 flats meant for poor people from various reservation categories but those were allotted to applicants of general category while 10 tenements were placed in categories other than they were meant for. NMRDA had considered applicants from general category for various reservation quotas like physically handicapped (PH), Schedule Tribe (ST), Schedule Caste (SC) and state government officials (SG) for allotment of subsidized flats under PMAY.

Property tax rebate ends in Chandigarh, fines start

With the extended period of rebate on property tax ending on August 31 (Wednesday), the defaulters will now have to pay a 25% penalty and 12% interest along with their property tax to the Chandigarh municipal corporation (MC). If the defaulters failed to deposit the tax amount, strict actions would be taken against them as per the norms, including the sealing of their buildings.