Page 17 - Banking Finance October 2015

HOUSING
HOUSING
NEWS
DDA Makes Leasehold-
to-Freehold Conversion
Process Easier
The Delhi Development Authority
(DDA) has de-
cided to make
the conversion
process "more
transparent" by putting up the appli-
cations online. Therefore now get-
ting your property converted from
leasehold to freehold will become
easier
"All applications complete in all re-
spects will be necessarily disposed of
within 45 days or 60 working days,
as the case may be, and the cases
will be taken up on 'First-In-First-Out' "I have always seen India as a land rich
basis for disposal,"The schedule of
FIFO will be displayed on the website
of DDA so that applicants are well
informed regarding the status of dis-
posal and there is no queue jump-
ing," the DDA said.
One of the major changes is that the
requirement of submission of docu-
ments, which were earlier two under-
takings and one affidavit, has been
reduced to submission of only 'affida-
vit' and the requirement of undertak-
ings has been totally dispensed with.
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Cricket legend Steve Waugh sets up realty portal to sell
Indian properties to NRIs
Waugh, one of the best Australian test given me so much," said Steve Waugh,
cricket captain, has set up a property Founder and Chairman of Waugh Glo-
platform specifically for Non Resident bal. "We want like-minded partners and
Indians (NRIs) looking to buy properties we will be looking for integrity, account-
in India. ability and transparency while forming
an alliance with Indian developers."
The portal, waughglobal.com, is first of
its pride platform designed Waugh has started his
to specifically serve the new venture with three
growing NRI market. The more partners-Dean
platform will sell Indian Honan, Simon Szewach
premium properties in In- and Neil Honan.
dia to NRIs and Persons of
Indian Origin (PIOs) across the world. It He is believed to be focusing on selling
will also offer other allied services includ- off luxury apartments built by top 10-
ing banks finance, property manage- 15 realty developers in India.
ment and other required assistance for waughglobal.com, which is live and is
these high networth clients. currently selling properties of Godrej
Properties, Kalpataru, K Raheja Corp,
Lodha Group, Shapoorji Pallonji Real
in opportunities and I am excited to be Estate, Sobha and Brigade Group etc.
in the Indian real estate market. I am It has tied up with 10 developers and
sure, our portal will facilitate greater selling apartments of 91 projects across
investment into the country that has seven Indian cities.
L&T plans plush township in Bengaluru to monetise
land parcel
Engineering major Larsen & Toubro (L&T) is planning to monetise its 67-acre
land parcel in one of the plush areas of Bengaluru by developing a residential
township there, said three persons with direct knowledge of the development.
The plot that used to house L&T and Komatsu joint venture's manufacturing
unit for heavy machines has now been vacated by shifting the factory.
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