The Delhi government is ready with a new property Bill, which through a computerised single-window operation envisages a method of foolproof land registration to minimise any chance of fraud during transaction.
This new system will now provide titles to a property owner, replacing the present practice of registration of sales deeds. While the present system is not inaccurate, the new method has a more consolidated approach to ensure undisputed ownership – doing away with the rampant practice of acquiring property by registering fake sales deeds.
In the new system, the government will become guarantor for a property when it provides it a title. In case there is still fraud, the government is liable to pay compensation to any party who has been cheated in the transaction.
More : expressindia.com
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New Delhi: Bringing relief to thousands Delhi residents living under the spectre of demolitions, the Lok Sabha on Friday passed a bill which proposes a one-year moratorium on any punitive action against unauthorised development in the national capital.
The Bill, which was piloted by Urban Development Minister S Jaipal Reddy, provides for status quo as on January one, 2006, of unauthorised development in respect of mixed land use, construction beyond sanctioned plans and encroachment by slum dwellers, hawkers and street vendors in Delhi.
Buyers who bought apartments in Gurgaon and Greater Noida from DLF Ltd and Unitech Ltd are complaining that the builders have increased maintenance charges, sought advance payment of such charges, and increased the so-called super built-up area of their flat resulting in an escalation of costs.
At least three projects around capital New Delhi—DLF Pinnacle, Unitech Horizon and Unitech The World Spa—have seen changes in charges and terms from what was originally stated in the buyers contract, buyers say.
DLF and Unitech say they are within terms of the agreements with buyers and such changes are not unusual.
More : livemint.com
Taking advantage of the fall in property prices, real estate firm Anant Raj Industries plans to invest Rs 450 crore to acquire a land bank, which it would use for developing low-cost housing in north India.
The Delhi-based firm has Rs 750 crore as cash-in-hand, out of which, it has earmarked Rs 450 crore for land acquisition while the rest would be utilised to complete existing projects.
We feel this is the right time to look at low-cost housing and the most important element of low-cost housing is land which is now available at an attractive rate, the company Director
New Delhi : There is some hope for owners of illegal builders in the capital that are now being demolished, with the government deciding to table a bill in parliament to regulate the process.
The bill will provide some relief to bring about harmony between the plans of the administrative authority and the expansion needs of the people of Delhi, said Urban Development Minister S. Jaipal Reddy.
The relief will be interim in nature, he added.
Reddy said the cabinet cleared the bill Tuesday night for providing relief to people affected by the sealing and demolition drive being conducted by the
NEW DELHI: With several Congress MLAs facing Election Commission notices on the Office of Profit issue, the Delhi Assembly, on Thursday, passed a Bill exempting 14 posts held by some of the legislators from the list of such offices amid stiff opposition from the Opposition BJP.
The Bill Members of Delhi Legislative Assembly (Removal of Disqualification) Amendment, 2006, was tabled by Chief Minister Sheila Dikshit at a specially-convened day-long session of the Assembly and was passed by a voice vote with BJP members voting against it.
