Key reforms proposed to boost Delhi’s real estate market
NEW DELHI: In a move aimed at simplifying regulations and boosting investors’ confidence, the joint govt-industry taskforce on real estate reforms has submitted a comprehensive report outlining key reforms for the sector in the city. One of the key recommendations is a substantial reduction in amalgamation charges for integrated commercial schemes. Currently, the charges stand at 10% of the circle rates, considered a major deterrent to development. The taskforce suggested lowering this fee to just 1% of the circle rates. Addressing the redevelopment of group housing, DDA housing and cooperative societies, the report advocates allowing redevelopment by default, especially for…