#RealtyNewsRoundup: Soon, You May Use 90% Of PF Money To Buy A Home [Video]
Under the proposed national building code, real estate developers could be made liable for the safety of the structure. Under the earlier building safety norms, supervisors and designers were held responsible for the safety of a structure while developers and technical were kept away from the purview of the law. The proposed Central norms are voluntary in nature and states will have the option to incorporate them in their building bye-laws.
The government plans to amend the employee provident fund scheme. After the amendment in norms, around four crore members of the Employees’ Provident Fund Organisation will be able to withdraw up to 90 per cent of their funds for making down payments while buying homes.
The State Bank of India and developers body CREDAI have entered into a memorandum of understanding to jointly conduct various initiatives towards achieving the Housing for All initiative goals in the next three years. The partners will leverage their individual strengths to help the government achieve the ambitious target.
In the 19th Quality of Living survey of consulting major Mercer, Indian cities have failed to find a place. The survey has ranked Vienna the best city to live while Baghdad has been ranked the worst city to be in. In Asia, Singapore has been ranked the best city while its overall rating stands at 25.