#RealtyNewsRoundup: PMO Asks Govt Depts To Identify Land For Affordable Housing [Video]
Description
The Prime Minister's Office (PMO) has asked government departments to identify unutilised land, especially in already developed government colonies, to plan affordable housing projects. The government wants to build a land bank to give a push to its affordable housing initiative.
The Reserve Bank has allowed banks to invest in Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). The move is likely to help revive the cash-starved infrastructure sector. The central bank has given its approval to financial institutions to invest about 20 per cent of their net-owned funds into equity-linked mutual funds, venture capital funds and equities.
Kerala Chief Minister Pinarayi Vijayan has told a high-level official team comprising three members to identifying land for the proposed Sabarimala airport. The upcoming airport will cater to lakhs of devotees, who visit the famous Lord Ayyappa hill shrine every year. The panel has been asked to submit a report within two weeks.
Fullerton India Credit Company Pvt Ltd (Fullerton India) said it has received an additional capital infusion of Rs 200 crore from its parent, Fullerton Financial Holdings Pvt Ltd, a step-down subsidiary of Temasek Holdings Private Limited. The capital infusion will primarily support future business growth of Fullerton India's housing finance arm, Grihashakti.