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Here’s Why Leases Are For 99 YearsLeasehold properties are those where developers acquire land development rights through lease for a period between 30 and 99 years, from the time of construction. The figure of 99 years is considered an approximate period encompassing three generations and covering the life expectancy of any lessee or lessor while also securing the property ownership of the lessor.
Purvanchal Expressway Moves A Step Closer To RealityThe Uttar Pradesh government has approved various proposals submitted by shortlisted builders for different packages of the expressway. These projects will be implemented in engineering, procurement and construction (EPC) model. The expressway will be constructed between capital Lucknow and Ghazipur connecting interior and semi-developed towns of the state.
Court Stays Construction Work In Noida’s Express ZenThe Allahabad High Court has ordered to stop the construction work at Noida Sector 77 project, Express Zenith till July 10. The order has come on the basis of an appeal made by one of the homebuyers alleging that the builder has constructed floors beyond the permitted limit sanctioned by the Noida Authority.
Much-Delayed Dwarka Expressway Is Nearing CompletionSince “all obstacles have been removed”, the 29-kilometre Dwarka Expressway could be ready in another one-and-a-half year, says Gurugram Metropolitan Development Authority Chief Executive Officer V Umashankar. The project, aimed at decongesting the Delhi-Gurgaon highway, was stuck owing to land acquisition issues at New Palam Vihar and Kherki Daula.
Tier-II Cities Top The Charts In Smart City RankingsThe Ministry of Urban Development has released smart city rankings which places Nagpur on top, followed by Vadodara and Ahmedabad. These rankings were based on various parameters, including expenditure, project implementation and performance of civic bodies in the past four years. Out of 99 smart cities, 12 were not evaluated since the third list was released very recently.