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Fate of Regulatory Bill hangs in balance even after PMO steps in

Track2Realty-Agencies: The fate of the Real Estate Regulatory Bill hangs in balance even after PMO steps in to resolve differences between two ministries—Housing and Urban Poverty Alleviation and Urban Development— threatening to further delay the long pending Bill. The PMO has reportedly stepped in and directed the warring ministries to quickly resolve their issues over the bill which aims to protect property buyer’s interest from unscrupulous realtors.

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Cabinet clears, sector debates and home buyers apprehensive about housing prices

Track2Realty Exclusive: The Union Cabinet has cleared the Land Acquisition Bill, the realty sector is debating its pros & cons but the home buyers are apprehensive whether the house prices will shoot up in proportion of the higher cost of fresh land acquisition. The Bill cleared by the Union Cabinet makes the consent of 80 per cent of owners mandatory for private projects.

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Panel recommends to monetise unutilised govt land

Track2Realty-Agencies: The government should take steps to monetize under-utilized land resources of public sector enterprises, port trusts and railways, a panel set up to chart out the roadmap on fiscal consolidation has recommended.

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IT raids 10 real estate firms in Indore

Track2Realty-Agencies: The Income Tax (I-T) department has raided on 45 premises of Indore-based 10 real estate firms on Saturday, Sep 22. A team of 300 officials conducted the operations and recovered Rs 2 crore in cash and sealed 15 lockers of nine realtors. The raids are expected to continue on Sunday as well.

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No specific instance of terror funds into realty sector: Govt

The government has said “no specific instance” of flow of terror funds into the real estate sector has come to its notice. “As per the current assessment of revenue intelligence agencies…no specific instance of flow of terror funds into the real estate sector has been found,” Minister of State for Finance S S Palanimanickam said in a written reply in the Lok Sabha. However, he said, “investigations by the Income Tax Department reveal unaccounted or undisclosed income or assets in various sectors of the economy, including real estate.”

Headlines Kumari Selja, Minister of Housing and Urban Poverty Alleviation, Government of India, Delhi NCR real estate, Bangalore Real Estate, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate news, India Property, Mumbai Real Estate, India Property

Timely approvals may bring down housing costs: Selja

The government has formed a committee to evolve a workable strategy for reducing the time taken in approval of real estate projects which could ultimately reduce the cost of houses by 25 to 40 per cent, minister of housing and urban poverty alleviation Kumari Selja said on Friday, May 11.