Top Real Estate Milestones in 70 years of independent India
India has seen many policies in recent years but certain milestones are spread over decades. As the country will soon complete seven decades of independence, it’s worthwhile to remember the milestones that have had a long lasting impact on India’s real estate industry :- 1.) Formation of Chandigarh & Gandhinagar The new capital cities of Chandigarh and Gandhinagar were formed in 1952 and 1960 respectively. These were the first, and rare, occasions of planning entirely new cities in the country. 2) 1st city development plan The Maharashtra Regional and Town Planning Act, 1966, first incorporated the practice of development plans and town planning. The Planning Commission also issued its first guidelines for district planning in 1969, which led to many states to formulate district plans. However, except a few excellent examples, these initiatives didn’t yield positive results. 3) Urban Land Ceiling Act The Urban Land (Ceiling and Regulation) Act...