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#RealtyNewsRoundup: Govt To Nail Benami Property Holders Soon, Says Naidu [Video]

#RealtyNewsRoundup: Govt To Nail Benami Property Holders Soon, Says Naidu [Video]

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

Union Minister Venkaiah Naidu recently confirmed that post-demonetization, the government would now shift its focus on nailing benami properties in the country. Promising to carry forward the war against corruption and black money, he said the government would soon put into effect a strong law to stop transaction of such properties.

The railways has decided to rope in private companies to redevelop and modernise 23 stations, including the iconic Howrah Junction, Mumbai Central and Chennai Central in the country. Media reports say the cost of re-development of the 23 core station areas will be around Rs 4,000 crore, with the Centre hoping to earn at least the same amount as upfront fee from the developers that bag the rights. The overall cost of building facilities in and around the stations is pegged at Rs 25,000 crore.

The central government has approved the construction of additional 78,703 affordable houses for urban poor under the Pradhan Mantri Awas Yojna (PMAY) in Tamil Nadu, Kerala and West Bengal, taking the total homes approved under the scheme to over 15 lakh homes. 

In one of the largest real estate transaction of this year, RMZ Corp has agreed to acquire 100 per cent stake in Essar Group’s commercial project Equinox Business Park in Mumbai's Bandra-Kurla Complex for about Rs 2,400 crore. The park is being renamed as RMZ Equinox Business Park.

Source: Media reports

Tags: Mumbai, Chennai, News And Views, propguide, Pradhan Mantri Awas Yojna, Union Minister Venkaiah Naidu, Howrah, Benami properties, Mumbai's Bandra-Kurla Complex, RMZ Equinox Business Park

Is NCR Losing Out To Mumbai, Bengaluru, Pune?

The National Capital Region, for very long, has been the largest residential real estate market in India. But, is NCR losing out to Mumbai, Bengaluru and Pune?

November 10 2015

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How A Swedish Touch May Help Maharashtra’s Smart Cities Get Smarter

Sweden has offered Maharashtra its assistance in developing its smart cities. PropGuide examines Sweden's SymbioCity model and how it may help building smart cities in Maharashtra.

November 20 2015

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Why Real Estate Is So Expensive In Mumbai

In India’s most prosperous city, half the population live in slums. In Savills' top 12 most expensive cities in the world, Mumbai was the cheapest city to live in. Yet, why is real estate in Mumbai the most expensive real estate is the world?

May 18 2015

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#Budget2017: Arun Jaitley Tweaks Definition To Make Housing More Affordable

Things are looking up for the Housing For All 2022 program of Central Government after the announcement of annual budget 2017, by Finance Minister Arun Jaitley. Giving infrastructure status to “Housing For All” is a welcome step taken by the Central Government. This would henceforth help the developers in availing loans from banks other nationalised financial institutions.

February 01 2017

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#Budget2017: FDI Norms May Be Eased Later This Year

Finance Minister Arun Jaitley announces the abolition of Foreign Investment Promotion Board (FIPB).

February 01 2017

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#Budget2017: Was This A Good Budget For Salaried, Genuine Home Buyers?

Those earning between Rs 2.5 and Rs 5 lakh per annum will now contribute only five per cent towards income-tax. This was previously 10 per cent.

February 01 2017

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#Budget2017: Affordable Housing To Get Infrastructure Status

After Finance Minister Arun Jaitley presented the Union Budget 2017-18, Prime Minister Narendra Modi said the housing sector stood to gain immensely from the new announcements.

February 01 2017

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#Budget2017: Real Estate Sector Demands Simple And Effective Norms

One of the major announcements was of the Real Estate (Regulation & Development) Act 2016 (RERA), which is expected to be profitable for both customers as well as builders, will bring about a great deal of transparency.

January 31 2017

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