#RealtyNewsRoundup: 240-Acre Smart City To Come In Ghitorni

The government is planning to develop a 240-acre greenfield city with smart features at Ghitorni in the national capital, with an estimated to cost over Rs 15,000 crore. The project is proposed to be jointly developed by the Central Public Works Department (CPWD) and the National Buildings Construction Corporation (NBCC) on a self-financing basis, according to a government release.

***

The Greater Noida Industrial Development Authority has put out a list of 1,363 real estate developers, including group housing and industrial developers, who have defaulted on payment. The GNIDA has warned of strict action, including lease deed cancellations and issuance of recovery certificates, if defaulting allottees do not opt for the rescheduled payment plan.

***

The Brihanmumbai Municipal Corporation has demolished a part of film actor Arshad Warsi's bungalow at Versova for allegedly constructing an additional floor illegally. The move comes four years after the alleged illegality came under the BMC scanner. As the bungalow was locked when civic officials visited the premises, they carried out only symbolic demolition.

***

The Union Cabinet is likely to approve setting up of a Rs 2,000-crore credit guarantee fund by July-end with a view to provide funding facilities to startups. Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek told media that the fund would be used to lend to startups without any collateral.