#RealtyNewsRoundUp: Over 51 Lakh Units Sanctioned In 3 Years Under PMAY-U, Says Govt

Over 51 lakh dwelling units have been sanctioned against the demand of one crore in the last three years under the Pradhan Mantri Awas Yojana-Urban (PMAY-U), the Housing and Urban Affairs Ministry has said. While over 28 lakh units are under-construction, over eight lakh houses have been completed under the scheme.

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A high-powered panel that was earlier set up by the Uttar Pradesh government to address the problems of homebuyers has asked state-run National Buildings Construction Corporation (NBCC) to find a viable solution to clear stuck projects in Noida. Some of the projects in this affordable real estate market have been stuck for over a decade and a half.

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The urban local bodies department in Gurgaon has launched a scheme under which it would regularise buildings that were constructed that were not in compliance with building norms. The policy would also cover residential buildings that are being used to run commercial activities. The newly launched policy would be applicable only in municipal areas.

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GVK Group has achieved financial closure for construction of the first phase of the Navi Mumbai International Airport (NMIA). This would enable the company to focus on the construction and completion of the first phase of the project. The company had bagged the financial bid to build and operate the second international airport in Mumbai at an investment of Rs 16,000 crore this year.

Source: Media reports