#RealtyNewsRoundup: Govt Wants To Make Home Loan EMIs Cheaper Than Rent, Says Jaitley
Description
After the Reserve Bank of Indian slashed repo rate to bring it to six per cent on April 4, Finance Minister Arun Jaitley said the government wanted to bring the interest rate regime lowered to a level where paying home loan EMIs (equated monthly installments) became cheaper than paying rent.
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The Gujarat High Court has sent notices to the state government and the state’s Real Estate Regulatory Authority after a relator approached it questioning the regulator’s powers. The developer was issued a notice by the Gujarat RERA for not providing sufficient services in a 2012 project. The developer has challenged the RERA move, saying the authority has no retrospective power.
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After a go-ahead by a civil court, the Pune Municipal Corporation (PMC) on April 4 started demolishing Shabana Manzil, the five-storey illegal building at Kondhwa Budruk. A structural assessment done earlier showed the building was not fit to live in.
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In order to control traffic congestion on city roads, the Surat Municipal Corporation has launched a bicycle-sharing project, a move that will also improve last-mile connectivity for residents. The project under which the municipal body has purchased 35 bicycles so far is currently running on a pilot basis in two areas, Chowk Bazaar and Rang Upvan.
Source: Media reports