#RealtyNewsRoundup: 425,000 Houses Sanctioned Under Pradhan Mantri Awas Yojna
Realty News Roundup is PropGuide's selection of top stories from the real estate sector.
President Pranab Mukherjee said the government was committed to providing 'housing for all' by 2022. Under this plan, he sanctioned over 425,000 houses under the Pradhan Mantri Awas Yojana at a cost of more than Rs 24,600 crore recently. Under the scheme, which was launched in June last year, the government aims to build more than 20 million houses in the next six years. The plan will benefit slum dwellers, urban poor and those belonging to the economically weaker sections and lower-income groups. Read more
In one of the largest domestic fund-raising exercises for real estate investments, ASK Group has acquired Rs 1,400 crore through its fourth real estate fund ASK Real Estate Special Opportunities Fund II. The fund, which was launched in October 2014, will invest in mid-sized self-liquidating residential projects. The fund aims to invest in six major cities, including Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai, and Pune. Read more
Houses in Noida are likely to get costlier. The Uttar Pradesh stamps and registration department said it will hike registration charges from the current five per cent to seven per cent to bring the rate in Noida on par with the rest of the state. If implemented, the move will be a double whammy for many home buyers, who were forced to wage a legal battle on the demarcation of an eco-sensitive zone around the Okhla Bird Sanctuary (OBS), in whose vicinity they had bought flats but could not register them. Read more
For the second time in a row, Hyderabad has been hailed as the best Indian city to live in by the Mercer's Quality of Living rankings 2016. The city has been ranked 139 in the world owing to its relatively `lower crime rate', `lesser air pollution' and 'improved options for international and reputable English speaking schools'. Pune emerged as a close second to Hyderabad at 144th position, while Chennai was named one of the safest cities in India along Hyderabad and Pune. Read more
In an effort to keep a tab on mushrooming illegal constructions in Pune, the Maharashtra government is planning to rope in retired police officers for the Pune Metropolitan Region Development Authority (PMRDA) region.
District guardian minister Girish Bapat said the administrative process had been initiated to implement the proposal. Read more