Highlights of developments in realty industry (To go with: Tough year for realty, no respite seen in short-run)

Following are the highlights of the developments in realty industry in 2011:

-Circle rates hiked in Delhi to curb black money flow and bring transparency.

-National Investment and Manufacturing Zones to boost industrial real estate.

-Sale deed made mandatory by Supreme Court for property transfer.

-India’s first all-woman housing society in Panchkula.

-Realty growth dips from 25-30 percent to about 15 percent.

-DLF fined Rs.630 crore for abusing its dominant position, tribunal stayed penalty.

-Sahara realty ordered to refund money to investors, order challenged.

-Number of realty firms deferred public offers.

-Government failed to introduce Real Estate Regulatory Bill.

-Land Acquisition and Rehablitation Bill also not introduced.

IANS