PROPGUIDE − A Complete Property Guide
#happyhome

#RealtyNewsRoundup: Noida Authority May Open Joint Account With Developers For Faster Project Delivery

Loading video...

Description

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

After Greater Noida, the Noida authority, too, is toying with the idea to open joint accounts with real estate developers to ensure faster delivery of projects. The move would ensure that the money collected from homebuyers is spent only on completing housing projects and is not diverted or used elsewhere. The authority will ensure 30 per cent of the money collected from the homebuyers goes into paying land dues and 70 per cent is spent on completing the project.

The National Green Tribunal (NGT) bench ordered Pune-based developer to pay an environmental compensation cost of Rs 100 crore or five per cent of the total cost of the project, whichever is less, for flouting environment clearance conditions relating to an integrated housing project at Vadgaon Budruk off Sinhagad road in the city. The bench also directed the developer, Goel Ganga Developers India Private Limited, to pay another Rs 5 crore for flouting several environmental laws.

The Maharashtra cabinet has approved the construction of Metro line 2B and Metro line 4. While Metro 2B, which is estimated to cost Rs 10,986 crore, is proposed from DN Nagar, in Andheri West, to Mandala in the eastern suburbs. Metro line 4 will connect Mumbai to Thane at a projected cost of Rs 14,459 crore.

State-owned Housing & Urban Development Corporation Ltd (HUDCO) claims to have raised Rs 1,300 crore through private placement of non-convertible bonds to finance affordable housing and urban infrastructure projects. The company said the bonds would be due for maturity on November 30, 2019, and January 22, 2020, respectively.

Source: Media reports

Tags: Noida, Mumbai, Pune, Greater Noida, Video


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

+ Click Here To Read This Article

Unsold Inventory: Learnings From PropTiger Q2 Report FY'16

Unsold inventory in major Indian cities have been declining, quarter by quarter.

November 10 2015

+ Click Here To Read This Article

#RealtyNewsRoundup: Noida Approves Exit Policy For Realtors

Here are today's top news stories from the real estate sector.

October 24 2016

+ Click Here To Read This Article

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

+ Click Here To Read This Article

#RealtyNewsRoundup: Bank of Baroda To Buy Majority Stake In Central Bank’s Housing Finance Arm [Video]

Here are today's top news stories from the real estate sector.

December 12 2016

+ Click Here To Read This Article

#RealtyNewsRoundup: UP Govt Nod To Noida-Greater Noida Metro Link [Video]

Here are today's top news stories from the real estate sector.

December 09 2016

+ Click Here To Read This Article

#RealtyNewsRoundup: Punjab Abolishes 2 Per Cent Stamp Duty

Here are today's top news stories from the real estate sector.

September 14 2016

+ Click Here To Read This Article

#RealtyNewsRoundup: Maharashtra May Revise Ready Reckoner Rates

Here are today’s top news stories from the real estate sector.

March 03 2017

+ Click Here To Read This Article

Here are the top stories of the week from the real estate sector.

Here are today’s top stories from the real estate sector.

PropGuide shares what's on the manifestos of parties contesting for the MCD Elections 2017.

Potential homebuyers, mostly end-users, are looking at value-for-money investments in Noida....

New projects, numerous options, and reputed developers, make these five localities ideal for...

Here is a checklist of documents required for buying a property. While some of these documents have...

Though Bahadurgarh real estate market doesn't look bright yet, there are key drivers that can help...

The property was first auctioned in March 2016 for a reserve price of Rs 150 crore, this price was...

A building code is a set of norms that govern construction of buildings by stipulating minimum...

PropGuide simplifies complex real estate jargons for you.

Proptiger has released it's quarterly review report on India's real estate sector. Ankur Dhawan,...

Prime lending rate is the interest rate at which banks lend to its most credit worthy...

Subscribe Now

To stay tuned with real estate updates

Pick:

x +

Drop Your Query Here


Top