#RealtyNewsRoundup: Govt To Construct 51 Lakh Houses Under PMAY-G

The Central government has targeted construction of 51 lakh houses in 2017-18 to meet its target of building one crore houses by 2019 under the revised Pradhan Mantri Awaas Yojana Gramin (PMAY-G). The Centre also plans to bring down the building time to 6-12 months which currently stands at 18 months-3 years.

The Delhi State Assembly has passed the Delhi Goods and Services Tax Bill, 2017, amid concerns over higher tax rates. Chief Minister Arvind Kejriwal's Aam Aadmi Party has been demanding changes in the Central version of the new tax regime.

Nearly 72 real estate companies together owe the Noida Authority a whopping Rs 9,993 crore as of March, 2017, against land allotted to them in various housing projects in the city. This information was uploaded on the Noida Authority website. Among the top three defaulters are Unitech, Amrapali and Aims Max Gardenia Developers.

Kolte-Patil Developers is planning to enter into affordable housing, and increase its presence in real estate market of Mumbai and Bengaluru. Meanwhile, the company has completed Phase-I of its Three Jewels project at Pune.

Source: Media reports