vijay estate agency

As concerns on rising pollution levels in the periphery deepened, the Union environment ministry asked authorities in the NCR to follow construction norms. However, it is found that government agencies themselves are failing to do that.

The Greater Noida Authority has decided to impose a heavy penalty on security agencies whose guards are found missing from their duty sites. About 10-15 per cent of the monthly contract fee that the authority pays to private security agencies will be deducted in case security guards fail to stick to their area of operation.

Those living in high-rises of Noida have a reason to cheer. Soon, property owners in high-rises will get individual electricity connections. Currently, power connections are provided to the developer of a project by Paschimanchal Vidyut Vitran Nigam Limited (PVVNL). In case the builder fails to pay the power bill within the set timelines, flat owners end up paying a penalty, or losing supply, in the worst case scenario.

The online system that was launched by the Brihanmumbai Municipal Corporation (BMC) in 2016 to give building plan approvals online is faulty, say those who have been using the platform. The number of glitches seen in the system, known as automating development control regulations (Auto DCR) system, is no less than over 100, they say.

The RBI’s recent move to ease external commercial borrowing (ECB) norms would ensure housing finance companies have enough money to lend to India’s real estate developers. Under the expanded scope of ECB, HFCs will be able to borrow from oversees without having to seek an approval from the central bank. The RBI has also increased the ECB liability-to-equity ratio to 7:1 on direct borrowing from foreign entities from the earlier 4:1. This relaxation means HFCs will be able to borrow more, and lend more, in turn.