Saturday, November 3, 2007

If Urban Land Ceiling Act is scraped more than 25,000 acres of land in Pune and Pimpri-Chinchwad will be released, leading to fall in property prices

The real estate players in Pune — reaping benefits of the booming market — are now going all-out to ensure that the State government postpones the decision to scrap ULC.

The Central government has made it mandatory for all states to abolish the Act if they want funds from the ambitious Jawaharlal Nehru National Urban Mission (JNNURM) for development of the city. The State government is sitting on the resolution since last few sessions.

Related Stories:

1) ULC repeal delay favours big players

2) Who is afraid of Urban Land Ceiling and Regulation Act ?

1 comment:

  1. Does this mean that the property prices in pune should be either stable. But, if you see the builders are demanding more and more inspite of this. I think they are well aware about what is going to happen..Its only end users who are going to buy flats getting affected. I think whatever out in the news is not what goes on behind the news..