Real Estate Current Affairs

Demarcation of ESZ around Okhla Bird Sanctuary completed

Union Government has completed the demarcation of eco-sensitive zone (ESZ) around the Okhla Bird Sanctuary in the national capital region (NCR) of Delhi.

It was announced by Union Environment Minister Prakash Javadekar mentioning that notification in this regard will be issued soon.

Earlier, National Green Tribunal (NGT) had passed an order barring any infrastructure development within 10 kilometre radius from the sanctuary’s boundary. This order did not allow the people to get occupancy certificates who had booked flats in this protected area.

In order solve this problem NGT had directed the Union Ministry of Environment to issue the final notification on ESZ demarcation around the sanctuary.

Once the final demarcation notification is issued by the government, the home buyers outside the ESZ will be allowed to get occupancy certificates of their flats which were pending due to NGT’s order.

About Okhla Bird Sanctuary

  • Okhla Bird Sanctuary is situated in Noida Gautam Buddh Nagar district on Delhi-Uttar Pradesh state border.
  • Location: Okhla barrage over Yamuna River at the point where the river enters Uttar Pradesh.
  • It was designated a bird sanctuary in 1990 with an area of 3.5 square kilometres by the Uttar Pradesh Government of under the Wildlife Protection Act, 1972.
  • Okhla Bird Sanctuary is known as a haven for over 300 bird species, especially waterbirds.

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Housing.com acquires HomeBuy360

Mumbai based Real estate listing portal Housing.com has acquired Bengaluru-based customer relationship management software company HomeBuy360.

The software company was acquired in a cash deal of US 2 million dollars or 13 crore rupees. This deal will help Housing.com to strive for efficiency in the Indian real estate sector and to bring down their sales and operating costs.

HomeBuy360 was a cloud-based a sales lifecycle management platform company which facilitated connecting developers, agents and buyers. It also was niched in streamlining the entire real estate sales lifecycle, by managing customer relations, tracking inventory and in effect drives efficiencies in their sale operations.

This is the third acquisition by Housing.com so far this year i.e. 2015. Earlier, they had acquired Realty B, a company that allows property buyers and financial institutions to assess risks and take decisions. It also had acquired Indian Real Estate Forum (IREF), a platform providing property information to consumers.

About Housing.com

  • It is real estate search portal established in 2012 by 12 students from the Indian Institute of Technology (IIT), Bombay.
  • The company’s portal allows customers to search real estate listings based on geography, number of rooms, and various other filter.
  • Presently, the company has around 6,000 brokers and serves in 40 cities across India including in Mumbai, Bangalore, Kolkata and Delhi.

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