#RealtyNewsRoundUp:NAREDCO Urges Govt To Grant Infrastructure Status To Housing Sector
Realty News Roundup is PropGuide's selection of top stories from the real estate sector.
Top News
National Real Estate Development Council (NAREDCO) has advised government to grant infrastructure status to the housing sector. It has also demanded a moratorium period for developers to enable them complete their projects in time. NAREDCO also suggests banks to hike incremental deposits to five per cent, which was three per cent earlier, reports business daily Business Standard. Read more
Altico Capital, a non-banking finance company will be investing Rs 2,500 crore in Indian real estate market yearly for five years. Altico Capital is backed by a Abu Dhabi-based investment council named Clearwater Capital and lends money for mid-income housing projects in Tier-I cities. Read more
Off the frontpage
According to a survey conducted by City and Industrial Development Corporation (CIDCO) , there are 578 illegal under-construction structures in Navi Mumbai. The survey was conducted between June 1 and December 31, 2015 in Digha-CBD, Kharghar-Panvel and Uran-Ulve areas to identify encroachments on its land. Notices have been sent to the developers to vacate and pave way for demolition. CIDCO has also filed 1,024 caveats, which will prevent stay orders on demolitions according to The Times of India. Read more
The six-lane Yamuna Bridge, parallel to Okhla Barrage, is expected to get ready by October this year. If this happens the project will get completed three months prior to the deadline. Yamuna Bridge will help commuters to avoid narrow Kalindi Kunj bridge to commute between Delhi, Faridabad, Noida and Greater Noida. Read more