Realty News Roundup: Homebuyers To Give Feedback On The Real Estate Regulatory Bill;Venkaiah Naidu Meets Top American Firms

July 03 2015   |   Proptiger

Rajya Sabha tracks the success of Real Estate Bill 2013 by seeking feedback from homebuyers.

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

 

Top News

 

A select committee of the Rajya Sabha invited home buyers to give their feedback on The Real Estate (Regulation and Development) Bill, 2013 on July 6 and 7. The Bill seeks to protect the interests of consumers by establishing a regulator for the sector. Read the full report in Times of India.

 

The US industry executives from the US-India Business Council (USIBC) met the Indian urban development minister M Venkaiah Naidu in Washington DC to discuss opportunities that would emerge from the recently launched schemes of the government of India. According to this report, the government last week announced three flagship urban renewal missions- the Smart Cities mission, Home for All by 2022 and the Atal Mission for Rejuvenation and Urban Transformation. These three flagship missions are likely to have a significant impact on India's urban development over the next few years.

 

The Maharashtra government has signed a Memorandum of Understanding (MoU) with the global technology major Cisco for making Nagpur a smart and safe city. This MoU is for using the internet and modern technology to improve the quality of life in Nagpur. Read here.

 

The Economic Times reports that when new circle rates comes into effect in Noida and Greater Noida later in 2015, they would ease the burden on buyers of flats in group home societies. The UP stamp and registry department will table a proposal to either slash the additional component charged with circle rates for extra facilities in group home societies or scrap it altogether. Read here.

 

Off the front page

 

The Ghaziabad Development Authority (GDA) has prepared a report to undertake infrastructural projects worth Rs 300 crore across the city before two major projects, the Metro corridor and the elevated road, are completed. The report is likely to be approved next week, according to this report.

 

Aspire Home Finance Corporation Ltd, a subsidiary of Motilal Oswal Financial Services Ltd, has launched a home loan division for low income women segment. The division Mahila Awas Loan from Aspire or MALA will offer loans that range from Rs 2 lakh to Rs 12 lakh to both salaried and self-employed women for purchasing and constructing affordable home units. Read more.

 

In yet another development, ArthVeda Fund Management, part of Dewan Housing Finance Corporation (DHFL), is raising Rs 2,000 crore through its new fund series 'ASHA' to invest in affordable housing projects across the country. Read here.  

 

To venture into affordable home finance segment, Non-banking finance company Fullerton India has applied for a licence. "We expect the licence to come in anytime and the due diligence is currently on," Executive vice-president of the company Rakesh Makkar said, according to this report.

 

Opinion

 

Read policy consultant Abhirup Bhunia's opinion piece in The Hindu-Business Line, on the central government's scheme for home for all. Individuals who earn about ₹6 lakh a year can buy homes. But what about those earning half that or less?  Read here.

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