#RealtyNewsRoundup: Work On Centre's Low-Cost Housing Scheme Yet To Pick Up Pace In Maharashtra [Video]
Prime Minister Narendra Modi's ambitious plan to provide affordable houses for to the urban poor under the Pradhan Mantri Awas Yojana-Urban has failed to take off in Maharashtra, owing to procedural wrangles and non-availability of land. Government data show that of the over 82,000 houses built in 30 states, only 5,506 were constructed in Maharashtra.
Meanwhile, buying property in India's financial capital Mumbai is likely to get costlier as the Maharashtra government has raised the ready reckoner rates by an average of five per cent for various localities in the city. The revised rates will be applicable from April 1.
The Japan International Cooperation Agency has extended an official development assistance loan of Rs 2,000 crore to the Chennai Metro Rail Limited for the construction of its Mass Rapid Transport System. The agency has so far extended Rs 9,000 crore in loans since 2008 for the development of around 45-km of the Metro rail system in the Tamil Nadu capital.
Bengaluru-based business park developer RMZ Corp will be buying land assets and development rights for multi-million sqft office space project from rival Adarsh Developers in the city's tech corridor. The developer has raised $200 million from private equity institutions for this purpose.