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Haryana is planning to create more space for housing - The Property News
Posted
May 13, 2016
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149
May 13, 2016
149
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2:10Now Playinghe Supreme Court has extended Sahara chief Subrata Roy's parole till July 11. It has asked him to deposit Rs. 200 crore with market regulator SEBI by then, failing which he will be sent back to Tihar jail. The apex court had granted 4 weeks parole on May 6 along with a son-in-law to attend the last rites of Roy's mother. SEBI will also be auctioning his 60 properties.
Haryana is planning to create more space for housing, as the Hayana govenment is allows to own plot owners to increase ground coverage and purchase additional Floor Area Ratio or FAR. But with the implementation of this, cities like Gurgaon, Faridabad and the NCR region will get taller and more congested.
The East Delhi Municipal Corporation has put on hold a proposed hike on property taxes after a majority of local traders and industrialists opposed it. The hike was recommended by the Third Municipal Valuation Committee or the MVC. A committee will be formed to look into the various aspects of implementing the reccomendation. This committee will also present a report to the house. Most of the industrial and commercial areas have been raised to a higher category according to the MVC report. This move had resulted in the hike on property tax rates by huge margins.
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