Real Estate News Update for January 15
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Residential
GHAZIABAD: Homeowners may have to pay Rs 5,000 more in taxes annually from the new financial year as the civic corporation is likely to make property tax commensurate with the DM circle rate.
RERA
The Maharashtra Real Estate Regulatory Authority (MahaRERA) will be undertaking a three-level scrutiny of housing projects to ensure zero complaints from homebuyers and better compliance from developers.
Infrastructure
NEW DELHI: The central government on Sunday ordered a ban on non-essential construction work and plying of BS-III petrol and BS-IV diesel four-wheelers in Delhi-NCR amid worsening air quality in the region.
Regulatory
MUMBAI: Upbraiding the civic administration for its vigorous opposition to a petition by a doctor who challenged a cantilevered stack parking for cars in a suburban society building for constricting the path for fire engine entry, the Bombay high court on Friday said, “We know of no principle in law by which the fire safety of those living in buildings of less than 13 floors can be said to be less important than those living in highrises.
Industry
NEW DELHI: REITs and InvITs have gained popularity as preferred investment options, with fundraising, through the route, surging 10-fold year-on-year to Rs 11,474 crore in 2023, supported by measures taken by regulator Sebi and attractive returns offered by the instruments.
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