|
|  |
| |
|
| | The Pune Entrepreneurs Network Network is not currently active and cannot accept new posts | | ULC goes... Or does it? | Views: 294 | | Nov 30, 2007 5:33 am | | ULC goes... Or does it? | # | 
Shrinath Navghane | | Thursday, November 29, 2007 (Nagpur/Mumbai):
The Maharashtra government on Thursday scrapped a law that regulates holding of urban land, a move that is likely to free large tracts of prime land in India's financial capital Mumbai and other cities.
Authorities hope the scrapping of the three-decade-old law, the Urban Land Ceiling Regulation Act (Ulcra), will reign in the burgeoning real estate prices and make housing more affordable for millions of middleclass families.
Mumbai had on Monday witnessed a record selling price at the suburban high-tech hub of Bandra Kurla Complex when a private developer bagged a 7,107 sq metre plot for a mind boggling Rs 8.31 billion, which works out to Rs 46,883 per sq ft.
Real Estate deals in India have been rocking the world. Are we positioned to be one of the most expensive Real Estate market globally? Will clearance of ULC Act free lands and stabilize the price? Let us know your views.
Cheers!
Shrinath Navghane
Private Reply to Shrinath Navghane | | |
| |
| |
