20-Dec-2019

10-Oct-2019

06-Dec-2019

CREDAI Bengal Daily News Update | 20.12.19

WEST BENGAL NEWS

Kolkata civic body set-up cell to help thika tenants

The civic authorities decided to open such a cell at the KMC headquarters to help those

thika tenants who are likely to face problems because of lack of documents or non-

cooperation from some thika tenancy officials.

A permanent cell to assist tenants of thika land was set up at the KMC headquarters and started

operating from Wednesday.

The cell has been set up to receive applications from the thika tenants or sub-tenants for

construction of buildings on thika land. Mayor Firhad Hakim on Wednesday visited the cell and

interacted with five officials.

The civic authorities decided to open such a cell at the KMC headquarters to help those thika

tenants who are likely to face problems because of lack of documents or non-cooperation from

some thika tenancy officials.

Under the new rules, a thika tenant will now be considered as lease-holder and a sub-tenant an

assignee.

“We’ve done away with unnecessary paperwork for the thika tenants who want to construct

buildings on thika land. We also have shifted the thika tenancy office to the KMC headquarters

so that after clearance by the thika tenancy department, the KMC building department can

sanction building plans without delay,” the mayor said.

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Newspaper/Online ET Realty(online)

Date December 19, 2019

Link https://realty.economictimes.indiatimes.com/news/regulatory/kolkata-civic-body-set-up-cell-to-help-thika-tenants/72887378

OTHER NEWS

Telangana to hike land value by upto 20% for registration of

properties

The registration and stamps (R&S) department collects 6% stamp duty and registration

fee on land value for open plots and fixed price (per square feet) for flats.

After hiking liquor prices a few days ago, the Telangana government is set to enhance land

values (government value) by up to 20% for registration of properties soon.

With dwindling revenues, especially Goods and Services Tax (GST) and pending arrears from

the Centre, the desperate TRS government hopes to mobilise additional revenue if the land

prices are increased. The registration and stamps (R&S) department collects 6% stamp duty and

registration fee on land value for open plots and fixed price (per square feet) for flats.

Sources in the government said market values were last revised in 2013. “The department had

earlier proposed to increase land values. However, a series of elections, slowdown in the market

and other reasons, the state government had refused to give permission for revision,” a senior

R&S department official said.

The sources said R&S department has already begun the exercise and even held a meeting with

representatives of builders association two days ago to take their opinion. Officials of the

registration department have also been asked to send proposals by studying the existing values

and proposed hike.

The government wants to categorise locations and areas into three categories — top (where

property registrations are high), average and poor.

Industry concerned over impact of increased land rate on real estate

Areas in the city logging high property registrations, thereby generating revenue and filling

government coffers, might be increased even up to 25%, the sources said.

“We have requested the government to wait for some more time to increase land values or do it

in a phased manner. Our opinion is that the government can increase land values where there is

a huge difference between the registration (government) value and prevailing market rates,”

Newspaper/Online ET Realty(online)

Date December 19, 2019

Link https://realty.economictimes.indiatimes.com/news/regulatory/telangana-to-hike-land-value-by-upto-20-for-registration-of-properties/72888786

Confederation of Real Estate Developers’ Association of India (CREDAI)-Hyderabad chapter

general secretary V Rajasekhar Reddy, who attended the meeting, told TOI. He said the

industry has also concerns about impact of increased land rates on the real estate sector.

Officials in the registration department said the target for the current year (2019-2020) was set

at Rs 6,100 crore, but so far only about Rs 5,000 crore was earned. Going by the current trend,

the department might rake in another Rs 500 crore. In the last fiscal, while the target was Rs

5,100 crore, the department could garner Rs 6,600 crore.

“Generally, the R&S department fixes 20% more than the previous fiscal collection, i.e Rs

6,600, but it reduced the target due to slump in the realty sector,” the R&S department official

said.

Meanwhile, as per the existing rules, the government could revise land values on August 1

every year. Since it was planning enhancement in a month or so after constituting land revision

committees at mandal, revenue division and district level, the registration department’s rules

need to be amended to effect the increased rates immediately, he added.

_______________________________________________________________________________________________

Nashik civic body's property tax collection up 15% between April-

December

The Nashik East division tops the chart with maximum tax collection of Rs 21 crore

followed by Nashik West at Rs 19.83 crore.

The property tax collection figure of Nashik Municipal Corporation (NMC) this year, from

April 1 to December 16, has increased by 15% to Rs 106 crore as against Rs 91 crore during the

same period last year.

The Nashik East division tops the chart with maximum tax collection of Rs 21 crore followed

by Nashik West at Rs 19.83 crore. An NMC official said that one of the main reasons for

increase in property tax collection is the introduction of amnesty scheme between September 15

and October 15.

“We had collected Rs 30 crore in just one month through the amnesty scheme. This led to rise

in property tax collection,” he said.

Under the amnesty scheme, up to 75% rebate on penalty, warrant and notice fees was given to

defaulters if they cleared their entire tax dues in one go. “We have again re-introduced the

scheme — from December 16 to February 10, 2020. We hope it will further swell the revenue

collection,” the official said.

The NMC has set a property tax collection target of Rs 218 crore for the current financial year

2019-20, but has managed to achieve only 50% of the target.

“We have already put properties of 44 tax defaulters for auction that will be held on January 2.

We will not auction the properties if the defaulters clear all their dues before the date of

auction,” the official said.

“We also have other ways to change the ownership of properties if we do not receive good

response from the bidders for the auction. This is for the second time we are auctioning

properties of the defaulters this year,” he added.

The official said that their objective is to increase property tax collection. The NMC recovers

2% fine per month on tax dues from the last day of paying taxes. Moreover, it also recovers

expenses of notices and warrants issued to the tax defaulters.

Under the amnesty scheme, tax defaulters, who completely clear their dues in one go, are given

Newspaper/Online ET Realty(online)

Date December 19, 2019

Link https://realty.economictimes.indiatimes.com/news/regulatory/nashik-civic-bodys-property-tax-collection-up-15-between-april-december/72878879

a rebate in penalty amount, warrant and notice fees. But they will have to clear their water tax

dues as well.

The rebate in penalty will be up to 75% if paid between Dec 16 and January 31 and up to 50% if

paid between February 1 and February 10.

________________________________________________________________________________________________

Pune court rules in favour of Sanjay Kirloskar in family property

dispute case

The court has on December 3 also rejected an application filed by Suman, Atul and Rahul

Kirloskar seeking a stay of four weeks to file an appeal to challenge the restraining order

passed by the Pune court.

The district court of Pune has ruled in favour of Sanjay Kirloskar who had moved the court

against the Kirloskar matriarch Suman Kirloskar in a property dispute. The court has restrained

his mother Suman, brothers Atul, Rahul, and their kin from selling family properties, or

changing the nature of properties, during the pendency of the case.

This is part of series of disputes in the Kirloskar family, which has seen Sanjay Kirloskar on

one side and others including Atul, Rahul and Vikram Kirloskar, involving their companies and

family properties, on the other.

The court has on December 3 also rejected an application filed by Suman, Atul and Rahul

Kirloskar seeking a stay of four weeks to file an appeal to challenge the restraining order passed

by the Pune court.

The court has restrained the respondents, including Suman Kirloskar, Atul, Rahul and Vikram

Kirloskar, from creating any third party rights on the 10-acre land parcel at the family’s

bungalow in Lakaki, Pune.

In his plea, Sanjay Kirloskar had sought partition of joint properties held by the Chandrakant

Kirloskar Hindu Undivided Family (HUF) and also that one-fourth of the total properties be

given to him.

He had also prayed that the respondents may be restrained from entering into any agreement or

transaction for creating third party interest in respect of his 1/4th share in the joint family

properties. Sanjay had sought that his mother and brothers, Atul and Rahul, be restrained from

changing the nature of the suit properties without his consent or consent of his branch including

his wife and children.

ET’s separate email queries to Rahul and Atul Kirloskar remained unanswered till the time of

going to press, while Sanjay Kirloskar’s spokesperson declined to comment saying the matter is

subjudice.

________________________________________________________________________________________________

Newspaper/Online ET Realty(online)

Date December 19, 2019

Link https://realty.economictimes.indiatimes.com/news/regulatory/pune-court-rules-in-favour-of-sanjay-kirloskar-in-family-property-dispute-case/72883703

Green buildings growing at 15% per year in Indore: Jitendra

Mehta, IGBC

In Indore, the cleanest city of the country, green building concept is seen growing at a rate

of over 15 per cent with around 51 projects covering over 58 million sq ft built up area as

green in a span of two years.

Sustainable green building concept is catching up pace in the city with a gradual jump from

high-end residential buildings to commercial spaces and educational institutes while the Swachh

brand has also seen as a catalyst.

In Indore, the cleanest city of the country, green building concept is seen growing at a rate of

over 15 per cent with around 51 projects covering over 58 million sq ft built up area as green in

a span of two years, according to Indian Green Building Council (IGBC), part of Confederation

of Indian Industry (CII).

IGBC Indore chapter chairman Jitendra Mehta said, “The trend is catching up at over 15 per

cent. Most residential projects and IT campuses coming up in the city are following the

principles of sustainable green building.”

Mehta said, the trend is also growing among organsied business parks where green concept is

one of the mandatory requirements.

According to IGBC, government buildings, institutions, temples and smart city projects are the

new entrants into the sustainable green concept.

Experts claimed that it saves potable water to an extent of 30 – 50 per cent as it encourages use

of water in a self-sustainable manner through reducing, recycling and reusing strategies. While

electricity consumption also drops significantly as it focusses more on open, ventilated spaces

and on solar energy.

Experts said that green buildings enhance groundwater table and reduces municipal water

demand through effective rainwater management. Utilization of energy can be reduced with use

of insulation of walls, roof, and selection of glass, sizing of windows, lighting and efficient air-

conditioning and heating systems.

Green building consultants envisages more improved rate of growth if the procedure for

certification and paper formalities are simplified and relaxed.

Newspaper/Online ET Realty(online)

Date December 19, 2019

Link https://realty.economictimes.indiatimes.com/news/industry/green-buildings-growing-at-15-per-year-in-indore-jitendra-mehta-igbc/72878926

Jitendra Vyas, a green sustainable consultant said, “There are many green units that are

sustainable but do not go for certification due to the complex structure. Many aim to take the

certification when they start construction but leave it midway due to hassles.”

Vyas said there are around 12 projects in the pipeline for certification since past a long time.

________________________________________________________________________________________________

Andhra Pradesh cancels allotment of returnable plots under LPS in

Amaravati

Earlier, the state government had issued GO 41 on February 17, 2016 to allot 500 sq yards

of residential plot per acre for both dry and jareebu lands and 50 sq yards of commercial

plot per acre of dry land and 100 sq yards for jareebu lands as compensation under LPS.

The state government issued orders cancelling allotment of returnable plots under Land Pooling

Scheme (LPS) to purchasers of assigned lands in capital Amaravati area on Wednesday.

Earlier, the government had decided to cancel such plot allotments in the cabinet meeting.

Earlier, the state government had issued GO 41 on February 17, 2016 to allot 500 sq yards of

residential plot per acre for both dry and jareebu lands and 50 sq yards of commercial plot per

acre of dry land and 100 sq yards for jareebu lands as compensation under the land pooling

scheme to the farmers cultivating as ‘Sivaijamadars’.

The state government in its order stated based on the report given by the Andhra

Pradesh Capital Region Development Authority (APCRDA) commissioner that the GO 41

issued on February 17, 2016 attracts the provisions of Andhra Pradesh Assigned Lands

(Prohibition of Transfer) Act 1977 and question of Sivaijamadars which means who is in

continuous possession from proceedings of assigned government lands, does not arise.

Further the APCRDA commissioner stated that transfer of assigned land by the assignees to the

purchasers of given by gift which amounts to transfer, whereas the assigned lands are intended

for the purpose of eking out livelihood by landless poor and purchase of assigned land is a

violation of AP Assigned Lands (Prohibition of Transfer) Act treating them as Sivaijamadars

under GO 41.

________________________________________________________________________________________________

Newspaper/Online ET Realty(online)

Date December 19, 2019

Link https://realty.economictimes.indiatimes.com/news/industry/andhra-pradesh-cancels-allotment-of-returnable-plots-under-lps-in-amaravati/72882693

Kochi: Housing scheme stalled as corporation has no funds

The project envisages spending Rs 4 lakh per house, with contributions from the Union

government, the state government, and the local body.

The implementation of the Prime Minister’s Awas Yojana (PMAY) project, aimed at

facilitating construction of houses for poor, has been stalled due to the lackadaisical attitude of

corporation authorities in enuring funds to the project.

The project envisages spending Rs 4 lakh per house, with contributions from the Union

government, the state government, and the local body. The corporation has been unable to

disburse its share of sum to more than 4,000 beneficiaries.

Under the project, the corporation has selected 8,266 beneficiaries and each of the families were

supposed to get Rs 4 lakh. Of the Rs 4 lakh, the state government contributes Rs 50,000, the

Union government, Rs 1.5 lakh and the local body Rs 2 lakh.

“After the corporation failed to mobilize the urban local body’s share, totalling to around Rs 57

crore, the state government arranged a loan from Hudco. As per the state government’s offer,

the government will pay the interest towards the loan, but the corporation will have to repay the

loan in 15 years. Despite securing a loan of Rs 57 crore, the corporation authorities couldn’t

implement the PMAY effectively,” said C K Peter, councillor from Konthuruthy.

“As the corporation defaulted on the loan, the state government cut Rs 2.75 crore from the plan-

fund allotment. It has led to a fund crunch forcing the local body to stop the payment to the

beneficiaries,” he said.

“When the government released the first instalment of the plan fund of Rs 30 crore, it held back

around Rs 14 crore from it. It was for repaying the power and water arrears, among other

things,” Peter said.

Newspaper/Online ET Realty(online)

Date December 19, 2019

Link https://realty.economictimes.indiatimes.com/news/residential/kochi-housing-scheme-stalled-as-corporation-has-no-funds/72885507

Opposition councillors pointed out that it was the lackadaisical attitude of the ruling front that

has led to the crisis. “Many other local bodies have identified the land for rehabilitating the

homeless. But the corporation has not done anything,” said V P Chandran, secretary, LDF

parliamentary party, Kochi Corporation.

“A total of 12, 019 families have submitted applications for getting financial aid for

construction of houses under the PMAY. The apathetic attitude of the corporation authorities

has cast a shadow on the dreams of the marginalised families,” he said.

Corporation authorities said they are on an effort to secure loan from the banks for the payment

of the ULB’s share to the PMAY beneficiaries. “We have decided to secure a loan of Rs 35

crore. We have already got the Central and state governments’ share for the purpose,” said K R

Premakumar, deputy mayor, Kochi Corporation. “The corporation council, which was held

recently, has approved the proposal to take the loan. We have approached the Syndicate Bank

and the Union Bank. The offer by the Union Bank is more attractive. We expect to secure the

loan within a month and the ULB’s share can be distributed without delay,” he said.

The local body has already prepared detailed project reports for the first five phases of the

PMAY project. The sixth DPR will soon be prepared and then more beneficiaries can be

included in the scheme, the corporation officials said.

________________________________________________________________________________________________

Over 25,000 flats in Noida to get dual power connections by March

2020

Some of the complexes are Jaypee Aman, Sector 151, Tata Homes, Sector 150 and Zeal

Developers, Sector 18.

More than 25,000 new flats across 14 under-construction apartment complexes in the city will

get dual point power connection of 5 to 10 kw each (depending on requirement) by March 2020.

Some of the complexes are Jaypee Aman, Sector 151, Tata Homes, Sector 150 and Zeal

Developers, Sector 18.

The Noida power department had earlier sanctioned dual connections for the complexes.

The move follows Uttar Pradesh State Electricity Regulatory Commission’s 13th amendment in

the Electricity Supply Code of August 10, 2018, over the long-pending demand of the flat

owners.

After getting the dual connections, the electricity bills of the apartments in the district could

reduce drastically.

__________________________________________________________________

Newspaper/Online ET Realty(online)

Date December 19, 2019

Link https://realty.economictimes.indiatimes.com/news/residential/over-25000-flats-in-noida-to-get-dual-power-connections-by-march-2020/72894803

Visakhapatnam: 5,000 acres of government land to be surveyed for

housing scheme

He further added that field level teams have been appointed to conduct a spot survey to

find out the present status of all government land.

District joint collector M Venugopal Reddy announced on Wednesday that the administration

would take up the task of surveying 5,000 acres of government land for housing purpose in the

next five days.

Making the announcement, here on Wednesday at the collectorate, the joint collector observed

that the exercise was being taken up as part of the Navaratna- Housing for Poor scheme. He

urged associate departments to coordinate and ensure the successful implementation of the

programme.

He further added that field level teams have been appointed to conduct a spot survey to find out

the present status of all government land.

Venugopal Reddy ordered the tahsildars to ensure the successful completion of the audit survey

and provide land records such as the Fair Adangal, 1-B, SF-A, FMB, village map and other

records to help conduct the audit survey and identify the squatters on government land. He

further added that the details of the audit survey must be compiled and updated online on a daily

basis.

_______________________________________________________________________________________________

Newspaper/Online ET Realty(online)

Date December 19, 2019

Link https://realty.economictimes.indiatimes.com/news/residential/visakhapatnam-5000-acres-of-government-land-to-be-surveyed-for-housing-scheme/72887868

Ahmedabad: Society drags Gujarat housing board to court,

demands lifts' maintenance

Residents of Vir Savarkar Heights in Gota area claim the board stopped repair and

maintenance of 49 lifts of the residential scheme despite being obliged to carry out the

work till October 2020

The residents of Vir Savarkar Heights-1 in Gota are up in arms against the Gujarat Housing

Board (GHB). They claim that since April this year, the board has not carried out repair and

maintenance work of 49 lifts in the society that it constructed for beneficiaries of lower and

middle-income groups.

The reason it has given is that the contract for maintenance of lifts has expired and now it is the

responsibility of the residents. However, the latter argue that as per the Gujarat Affordable

Housing Policy (2014), the board is obliged to carry out maintenance work till October 2020.

The association of residents has approached the Gujarat High Court seeking directions to GHB

to carry out regular periodical repairs and maintenance of the houses, particularly of lifts so as

to avoid any accidental disaster. The court has issued notice to the board and kept further

hearing on Thursday.

The society on Gota-Ognaj Road has 14-storeyed buildings, with four flats on each floor. There

are a total of 1,228 units for lower income group beneficiaries and 432 for middle income

group, besides 68 commercial shops. As per the petition, the eligible beneficiaries made all

payments including construction cost and maintenance charges to the authorities.

"We have filed a petition on behalf of the residents in high court. The court has issued notice to

the Gujarat Housing Board and further hearing has been kept on December 19," said SH Aiyar,

lawyer appearing for Vir Savarkar Heights-1 Association through its secretary Ramesh

Shrivastav.

On January 15, 2014, the Gujarat government framed the housing policy for weaker sections

known as Gujarat Affordable Housing Policy 2014. Meanwhile, after completion of

construction of residential dwellings in Vir Savarkar Heights-1, the possession was handed over

to families in October 2017.

As per the petition, on March 27, 2019, the association received a communication from GHB

informing them that the contract for maintenance of 49 lifts had been awarded to a private

contractor and it would expire on April 30, 2019. Thereafter, the board would not be

responsible for maintenance of lifts and that the entire responsibility would lie with the

Newspaper/Online ET Realty(online)

Date December 19, 2019

Link https://realty.economictimes.indiatimes.com/news/residential/ahmedabad-society-drags-gujarat-housing-board-to-court-demands-lifts-maintenance/72882658

association.

The guarantee period of maintenance of elevators was of one year, which is over. Yet I held

meeting with residents and contractor and sorted out their issues - Mahendrasinh Sarvaiya, GHB

Chairman

The association subsequently made a representation to the GHB requesting not to discontinue

maintenance of the lifts till October 2020 as per the terms of the policy. However, they claimed,

the board authorities did not pay any heed following which they were forced to approach HC.

'Substandard lifts risky'

"It is wrong on part of GHB to refuse to maintain lifts in the society as they are under obligation

as per law. After the filing of the plea, the contractor had started maintaining lifts, but that was

just cosmetic work. One lift in L block had crashed to the ground. Fortunately, it was empty,"

said Ramesh Shrivastav, former secretary of VHS-1.

He added, "The lifts that have been installed are of substandard quality and we doubt they will

work after three years. The lifts frequently stop working and are plagued by multiple faults,

endangering lives."

The residents said that the problem of lifts has persisted since the time they moved in, adding

that they should be provided quality lift. "At present our fire lift has not been functioning and it

is difficult to climb the stairs up and down 14 floors," said Sanjay Parmar, resident of A block.

'Guarantee period over'

Chairman of GHB Mahendrasinh Sarvaiya said, "The guarantee period of maintenance of

elevators was of one year, which is over. Yet I held meeting with residents and contractor and

sorted out their issues. The main issue is that the residents are not maintaining the lifts properly

and therefore the problem persists. After the guarantee period, the residents have to pay

expenses from their fund."

________________________________________________________________________________________________

HC dismisses Kerala govt's plea to lease-out Trivandrum airport to

Adani Group

While dismissing the petitions, including that of the state government, the court said the

challenge in the petitions is towards a policy decision of the central government and that

only the Supreme Court can consider such a dispute.

The Kerala high court on Wednesday dismissed petitions filed by the state government and

others challenging central government’s move to lease out operation of Trivandrum

International Airport to Adani Group.

A division bench comprising chief justice S Manikumar and justice AM Shaffique considered a

total of seven petitions, including one filed by the state government (WP-C No. 6823/2019).

The other petitions considered by the court were filed by Mahesh G, KP Suresh, Kerala State

Industrial Development Corporation Ltd, Airport Authority Employees Union, Trivandrum

Chamber of Commerce and Industry, and CPI-M leader M Vijayakumar. The airport was

established in 1932 and converted to an international aerodrome in the 70s.

While dismissing the petitions, including that of the state government, the court said the

challenge in the petitions is towards a policy decision of the central government and that only

the Supreme Court can consider such a dispute.

Representing the central government, assistant solicitor general P Vijayakumar had argued that

only the apex court can consider a petition against the central government when there is a

dispute with the state government.

It was contended by the state government that the state state stands to lose significantly by the

central government’s decision and that such a decision is against public interest as it will not

result in better management of the airport.

State government had also opposed the move to lease out operations of the airport by stating

that it still has proprietary rights over the land in which the airport is situated. Out of the 636.57

acres of land, 258.06 acres belonged to it and Airport Authority of India (AAI) owned only

0.5756 hectares of the land. The 258.06 acres was ‘puramboke’ land, which means government

land, state government had contended.

While the state government had experience in managing Kochi and Kannur airports, central

government took away the condition requiring bidders to have prior experience in airport

management, resulting in a decision in favour of Adani Enterprises Ltd, state government had

alleged in court.

Newspaper/Online ET Realty(online)

Date December 19, 2019

Link https://realty.economictimes.indiatimes.com/news/infrastructure/hc-dismisses-kerala-govts-plea-to-lease-out-trivandrum-airport-to-adani-group/72887913

Kerala State Industrial Development Corporation Ltd (KSIDC), which had taken part in the

bidding process representing the state government, had alleged that technical and financial

qualifications were set in such a manner than a company having no experience in airport

management could submit their tender. Accordingly, Adani Enterprises Ltd was declared as the

most eligible bidder having no experience but an incredible high offer for their price bid,

KSIDC’s petition had stated.

________________________________________________________________________________________________

House prices in UK to rise 2% in 2020 as Brexit uncertainty

remains: RICS

During this time, prices fell in London and surrounding areas owing to a rise in property

purchase taxes and concerns about Brexit, though modest growth continued in other parts

of the country.

British house prices are expected to rise around 2% next year, little changed from this year, as

uncertainty around Brexit is likely to lift only briefly, the Royal Institution of Chartered

Surveyors (RICS) said on Thursday.

Britain's housing market has lost momentum since June 2016's referendum on leaving the

European Union. During this time, prices fell in London and surrounding areas owing to a rise

in property purchase taxes and concerns about Brexit, though modest growth continued in other

parts of the country.

Despite Prime Minister Boris Johnson winning a large majority at last week's election, taking

the risk of a no-deal Brexit off the table for Jan. 31, RICS said Brexit uncertainty was likely to

resume, and weigh on prices and sales volumes.

"Challenges around affordability and low stock levels will continue to drag on the market, and

Brexit uncertainty could resurface as the next deadline draws closer," RICS economist Tarrant

Parsons said.

Johnson has vowed not to extend a post-Brexit transition period past the end of 2020, regardless

of whether he can secure a trade deal with the EU to avoid economically damaging tariffs and

checks on British goods from 2021 onwards.

RICS's forecast is similar to the average in a poll of economists conducted by Reuters last

month, which predicts a 1.5% rise for 2020.

Separate data from the Office for National Statistics on Wednesday showed house prices in

October rose by an annual 0.7% across the UK, the smallest increase in more than seven years.

RICS said rents were expected to rise further and at a faster pace by 2.5% overall and by 3% in

London. The outlook for overall sales volumes is broadly flat.

________________________________________________________________________________________________

Newspaper/Online ET Realty(online)

Date December 19, 2019

Link https://realty.economictimes.indiatimes.com/news/industry/house-prices-in-uk-to-rise-2-in-2020-as-brexit-uncertainty-remains-rics/72887434