Realty News Roundup: Relief For Noida Home Buyers With Centre's New Notification on Okhla Bird Sanctury; Muthoot Targets Affordable Home Buyers

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

Top News
In a major relief for more than 60,000 home buyers in Noida, the Central Government has issued a new notification that demarcates a mere 100-metre no-go radius for construction and other activities around the Okhla Bird Sanctuary. The new notification will ensure that all Noida home projects fall outside this zone. The earlier demarcation had created a 10-km eco-sensitive zone around the sanctuary, stopping work in 53 upcoming housing projects, several malls and offices. Read here.

Union Finance Minister Arun Jaitley has launched two funds by Small Industries Development Bank of India (SIDBI) for funding start-ups and to help small enterprises. These are named The India Aspiration Fund and SIDBI Make in India Loan for Enterprises (SMILE). Read more.

Reports suggest that Kolkata has welcomed posh serviced apartments, a concept relatively new to the city. One such projects Novotel, with 48 apartments, has recorded a near sell out. Read more.

Off the front page
Muthoot Housing Finance Company has set affordable homes as its target segment. Company's Chief Executive Officer, Maneesh Srivastava has said that there is a huge unmet demand in this space and this is a good space to be in. Read here.

Quote of the day: “There cannot be one single definition of affordable housing. It has to be different for different income groups. People get loans, based on their monthly salary and, therefore, the affordable housing definition should be different for different economic groups,” Ravindra Waikar, Maharashtra Housing Minister. Read here.

Opinion
Read CNBC -TV18's interview with Indiabulls Housing Finance's Vice-Chairman and Managing Director, Gagan Banga. Read here.