#RealtyNewsRoundup: Gurgaon Proposes To Slash Circle Rates By 15 Per Cent
Realty News Roundup is PropGuide's selection of top stories from the real estate sector.
To boost buyers' sentiment, the Gurgaon administration has proposed to slash circle rates of properties by 15 per cent. If the Haryana government approves the proposal, it will be the first time in the recent history that Gurgaon, a premium real estate market, would see the circle rate graph slip downwards. In the previous two financial years, circle rates in the city were kept unchanged. Read more
Fourteen out of 16 perennially loss-making hotels owned by the state-run India Tourism Development Corporation (ITDC) will be sold off. Union Tourism and Culture Minister Mahesh Sharma said the finance ministry was taking forward the disinvestment plan to offload government's stake in all the ITDC-run hotels, except the Ashoka and Samrat hotels in the national capital. The public sector undertaking runs 16 hotels in Delhi, Patna, Jammu, Ranchi, Bhubaneswar, Puri, Bhopal, Bharatpur, Jaipur, Guwahati, Mysore, Puducherry and Itanagar. Read more
Going by the Securities and Exchange Board of India's (Sebi) mandate to auction 60 properties across the country following a directive from the Supreme Court, HDFC Realty and SBI Capital Markets have put over 4,700 acre on the block across 14 states. The sale is expected to fetch around Rs 6,500 crore. Read more
Britain will be collaborating with state governments and municipal authorities in India to develop Pune (Maharashtra), Indore (Madhya Pradesh) and Amravati (Andhra Pradesh) into smart cities. This was stated by British High Commissioner to India Dominic Anthony Gerard Asquith recently. The high commissioner said a centre of excellence on automobile skills would also be set up in Pune. Read more