#RealtyNewsRoundup: Huda To Hold Auction Of Panchkula Plots On October 27

Realty News Roundup is PropGuide's selection of the day's top stories from the real estate sector.

The Haryana Urban Development Authority (Huda) is holding an e-auction for 43 residential sites in various sectors of Panchkula Urban Estate on October 27. According to Huda officials, 14 sites in Sector 2, 11 sites in Sector 4, one site each in Sector 7 and Sector 9, and 16 sites in Sector 12 will go under the hammer. The bidders can register themselves till October 25.

Real estate company Orris Infrastructure plans to invest Rs 150 crore in developing a commercial project in Gurgaon. The company will develop 2.5 lakh sq ft of retail space and about 200 studio apartments in the four-acre project called Market City. The company has tied up with two companies, Lotus Greens and The 3C Company, to develop the two projects.

To speed up the delivery of projects, the leaseholders of plots in Mumbai's commercial business district, the Bandra-Kurla Complex (BKC), have requested the Mumbai Metropolitan Region Development Authority to review and revise the stipulated four years' time for completion of projects by another two years because of delay in receiving various approvals. In the absence of a single-window clearance, permissions required to begin construction on these plots in the BKC took one-and-a-half to two years after the allotment of land.

Bengaluru-based real estate developer Sumadhura Group has plans to launch residential projects in Pune and Chennai in the next two-three years. The company, which is in the process of exploring land parcels in the two cities, has six residential projects in Bengaluru which are expected to be completed by March 2018.

Source: Media reports