BCM Group

In a move that is likely to help authorities meet the twin objectives of generating more revenues and equalising the differences in rates in various sectors, the Gurgaon district administration has hiked circle rates by up to 20 per cent, for the second time in two months. The revised circle rates come into effect from April 9. It was on February 12 when circles rates were revised in Gurgaon after a gap of four years.

During a hearing on April 16, Jaypee Infratech had said that its valuation has been slashed drastically and had put forth an affidavit to the Supreme Court stating that with the help of interim funds, it can finish the flats. However, this proposal has been rejected by the apex court as the statute bars an ailing company to bid. Jaypee says that its representation should have been considered given that it had been completing 500 units every month.

The Supreme Court has allowed the Sahara Group to choose any parcel of its properties in the Aamby Valley city project in Maharashtra and sell it by May 15. It was in August 2017 that the Bombay High Court had ordered for an auction of the property for a reserve price of Rs 37,392 crore, following Sahara Chief Subrata Roy's inability to deposit Rs 5,000 crore of his total dues of Rs 14,000 crore to investors.

The development body of Yamuna Expressway had formed in September last year a panel to probe whether builders developing group housing projects in the area had willfully flouted building byelaws. According to homebuyers, developers have not followed the sanctioned building layout map approved by the development body. The alterations, accuse the buyers, have been made to gain more profits. The panel will submit its report on March 15.

To fight the rising air pollution levels across the country, ahead of the Earth Day on April 22, the Centre has launched the National Clean Air Programme. Under the project, state-level committees will be formed that would include scientists and trained professionals who would collect authentic data, form action plan and implement it. All of this will be monitored by an apex committee formed under the environment ministry.