Monday, November 12, 2012

No action yet on registration of properties - Real Estate India


??|?? November 12, 2012 ?? 08:19am ??|Contributed by manoja

NEW DELHI: Two months after making the announcement, Delhi government is yet to act on allowing sale and purchase of properties in over 300 unauthorized colonies on private land that were regularized along with 583 other settlements.

While regularizing 895 unauthorized colonies, Delhi government had, on September 6, set a time-frame of one month to grant sale and purchase of properties in 312 settlements that came up on private land.

Extending the provision will bring relief to lakhs of colony residents as the government had put the restriction after issuing provisional regularization certificates in 2008. Lifting the restriction will also mean residents will be able to register properties in their names and this may result in escalation of real estate rates.

Chief Minister Sheila Dikshit had on September 26 directed the Urban Development department to provide relief to the residents of such colonies in a ?day or two?. The government, sources said, may not be able to fulfil the promise any time soon as the legal department has certain reservations in allowing sale and purchase in the colonies. They said giving the relief to the residents without finalization of the layout plans by the corporation may create ?legal? obstacles.

http://timesofindia.indiatimes.com/city/delhi/No-action-yet-on-registration-of-properties/articleshow/17187452.cms

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Source: http://www.indianrealtynews.com/real-estate-india/delhi/no-action-yet-on-registration-of-properties.html

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