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Wednesday 29 August 2012

Real estate prices are set to rise in Delhi


Chief Minister Sheila Dixit is all set to fulfill her promise to regularize 1,639 unauthorized colonies in the Capital as center decided to give green signal for regularization of 917 unauthorized colonies on Monday night.
Upbeat by the decision, she also requested the centre to consider regularization of colonies built on forest land.
She even gave the portfolio of urban development to Arvinder Singh Lovely in a major cabinet reshuffle as A.K walia was being too careful of the regularization process. There was huge clamor against slow process acquired by A.K walia as government wants the process to be expedited. Notably government has got only 15 months in hand before next elections to complete the regularization process.
With the issuance of notification by the centre, sale and purchase of properties in these colonies will now become legal, which is expected to boost the real estate market and prices are set to soar in the national capital region.
Affluent colonies like Mahendru enclave, Sainik Farms and Anant Ram Dairy, to be named a few in the list of unauthorized colonies.


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