#RealtyNewsRoundup: Govt Releases Rs 345 Cr For Smart Jaipur, Udaipur

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

Rajasthan state capital Jaipur is now a step closer to being a 'smart city', with the Centre releasing Rs 186 crore allocated to it under the 'Smart City Mission'. The Centre has also released Rs 159.20 crore for Udaipur in the state. It was in January this year that the central government set the ball rolling on its Smart Cities plan by announcing the first list of 20 cities, which included two from Rajasthan. Meanwhile, the Centre would soon launch "smart village" project in a bid to ensure all-round development of villages as well. Read more

Ashiana Housing on Monday said it planed to raise Rs 20 crore through private placement of non-convertible debentures (NCDs). The Delhi-based realty company had last year raised Rs 200 crore from global investors Goldman Sachs and Creador through issuance of qualified institutional placement. Read more

A study on the Housing for All by 2022 mission by a team from Indian  Institute of Management-Ahmedabad shows the target cannot be achieved without radical reforms in existing land policies, and unless the government is ready to spend two per cent of the gross domestic product (GDP) an annum. Currently, the government has a budget of spending 0.13 per cent of the GDP annualy. Read more

The iconic Regal Building, located at Connaught Place in the heart of the national capital, is set to house the Madame Tussauds Museum. The museum, among others, will house the wax replica of Delhi Chief Minister Arvind Kejriwal. Sources said the Indian partner of the London-based museum and the owners of the building had "finalised" the decision and work on it would start in the next two months. The British-designed building had come up in 1932. Read more