Realty News Roundup: SEBI To Ease Norms For Infrastructure Investment Trusts; India's Largest Affordable Home Project Launched in Pune

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

Top News
After allowing firms to launch real estate investment trusts (REITs) in 2014, the Securities and Exchange Board of India (SEBI) has now proposed to ease norms for infrastructure investment trusts (InvITs). The new rule states that minimum commitment amount by sponsors in InvITs can be 10 per cent, as opposed to the earlier 25 per cent. Read more.

Media reports are pointing towards the possibility of the NDA government calling a special session of Parliament to pass the long-pending Goods and Services Tax (GST) Bill. This report in DNA says that "a desperate Finance Minister Jaitley is toying with a few bold options, including convening a special session of Parliament next month".

The authorities promise to hand over completion certificates to developers and builders, hit by the eco-sensitive zone controversy around the Okhla Bird Sanctuary, within a week. The authorities has also informed that the developers and builders will first have to clear their dues to get the certificates. Read here.

Off the front page

Business watch: A Group will invest Rs 1,000 crore in projects across Mumbai, Pune, Chennai, Bengaluru and the -NCR for the current financial year. The company also expects to exit two-three in projects in Bengaluru and Chennai. Read here

Upcoming projects: -based Projects has launched Gram, at Bhandgaon at -Solapur highway. The company claims it to be India's largest affordable home project. The project will come up on a 22-acres plot and will have over 2,000 affordable homes, spread across 31 modern buildings, with seven floors each. It will have multiple accommodation options, including studio apartment, 1RK, 1 and 2BHK apartments. Prices of these apartments would range from Rs 6.20 lakh to Rs 22 lakh. Read here.

In another development, Embassy One, a project of Embassy Property Developments Pvt Ltd, backed by global private equity firm Blackstone Group LP, has relaunched in Bengaluru. It is a 6.5-acre mixed project, which has a Four Seasons hotel and serviced residences. Read here.

Opinion

Vivek Kaul writes on Reserve bank of India Governor Raghuram Rajan's statement on property price cut. Read here

An inspiring story from Singapore on crowd-funding for real estate projects. Read here.

Read this piece to know why e-registration is the way forward. Read here