Realty News Roundup: Land Bill Panel's Term Extended To July 28; 'Lower Provisioning Requirement Will Bring Down Home Loan Rates'

June 30, 2015   |   Proptiger

It took six years for the construction of the Parliament Building to get completed. (Photo credit : Wikipedia.org)

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

 

Top News

 

Bowing to demands from the Opposition members, the Land bill panel's term was extended by a week to July 28. This means the government will now have a window of just a fortnight to get the report submitted in time for being taken up during the monsoon session, provided the members of the panel do not press for further extensions. The industry and investors are eagerly awaiting the passage of the bill. Read more.

 

Banks have asked for lower provisioning requirement on home loans, saying that it will help bring down interest rates and boost demand in the struggling construction sector that has big job creation potential. According to this report, the issue was discussed with the Reserve Bank of India and the government at a performance review meeting.

 

 

State Bank of India is taking steps to clamp down on bad loans that include web-based tracking of assets and "regular calls" to stressed accounts in retail as well as real estate segments, Chairperson of the country's largest lender Arundhati Bhattacharya has said in this report.

 

Off the front page

 

The Chandigarh Housing Board (CHB) will conduct draw of lots for registration and allotment under the general self-financing housing scheme-2008, Sector 63, on July 4-5. According to this report, the names of applicants who have not deposited installments along with interest on delayed payments will not be included in the draw. List of such applicants have been displayed on the notice board of CHB office as well as website of the Chandigarh administration (www.chandigarh.gov.in) under the tab 'public notices'.

 

The Mumbai Metropolitan Region Development Authority (MMRDA) has received a bid of 52,000 per sq metre, 4,800 a sq ft, for transferable development rights (TDRs) offered under an auction, which is the highest-ever bid received for TDRs in an auction by any government body. Read here.

 

A report in Economic Times today says industrial paints maker Kansai Nerolac on Monday said it has entered into an agreement with realty firm Brigade Properties to sell its land in Chennai for Rs 550 crore. Read here.

 

Opinion

 

An article in Mint argues that  a clutch of private equity firms plan to raise $3 billion from overseas investors this fiscal year to create dedicated funds that invest in local real estate projects, despite their sobering experience with such funds in the recent past. The writer says the development comes despite their sobering experience with such funds in the recent past. Read here.

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