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#RealtyNewsRoundup: Next Set of 27 Smart Cities To Be Announced Soon, Says Venkaiah Naidu

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

Union Urban Development Minister Venkaiah Naidu said the next set of 27 cities under the Smart City programme would be announced next week. Speaking at an event, the minister said the competition to identify the potential cities concluded recently.

In a big relief for home buyers, the Haryana government has agreed to fix the value added tax (VAT) at one per cent for real estate projects built until March 31, 2014. The decision will not only make life easier for buyers but also prompt developers to deposit pending VAT charges. A large number of developers have challenged the Haryana Excise and Taxation Department after they were issued notices over VAT payment.

Tata Group is placing a big bet on its home finance business. The group plans to pump in another Rs 300 crore after investing Rs 200 crore earlier this year. The group has invested a total of Rs 700 crore in the home loan company until August.

Real estate company Supertech has claimed to have sold 250 apartments worth Rs 150 crore in its housing project in Gurgaon within two months of its launch. The company in its statement said that it offered units at Rs 48 lakh in its project Azalia.

Source: Media reports

Tags: Smart city, Haryana, Video, Supertech, value added tax, Venkaiah Naidu, propguide, Azalia, Tata Group


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