#RealtyNewsRoundup: Jaipur-Ajmer Highway To Be Made Six-Lane [Video]
Realty News Roundup is PropGuide's selection of the day's top stories from the real estate sector.
The Ajmer Smart City Limited will revamp the road from Jaipur to Ajmer and make it six-lane. Under the Smart City Mission, the city has received a budget of Rs 1,900 crore for providing smart city facilities. The work has already begun on the project.
The Punjab and Haryana High Court has ordered realty major DLF to give back the 11 acres it has used to develop 'The Crest' project to the residents of 'DLF Park Place' in Gurgaon. The developer is in the dock for violating the floor area ratio (FAR) norms and encroaching on the land. The value of the land is estimated to be around Rs 700 crore.
A first-of-its-kind company in the country, India Mortgage Guarantee Corporation aims to insure home loans worth Rs 1,000 crore in the next 12 months on the back of new tie-ups with banks and housing finance firms. The firm, which insures home loans between Rs 10 lakh to Rs 75 lakh, has have tied up with ICICI Bank, Diwan Housing Finance and Aditya Birla Housing Finance and has insured loans worth Rs 800 crore in the last three years.
The work on the proposed 600-metre bridge, which will boost connectivity between Noida and Faridabad, is likely to begin by the middle of next year. The project was stuck in red tape between the two governments of Uttar Pradesh and Haryana for more than a year now.
Source: Media reports