#RealtyNewsRoundup: UP To Offer Home Loan Interest Subsidy Under PMAY

The Uttar Pradesh Housing and Development Board has announced that it would give subsidies to people of different income groups under the Pradhan Mantri Awas Yojna (PMAY). The board will be extending this offer under the Credit-Link Subsidy Scheme, in which people of different income groups will be given subsidies in interest of home loans on a first-come-first-serve basis.

The 9.41-kilometre Dilshad Garden-New Bus Stand Metro line is likely to miss its March 2018 deadline because the project continues to be fraught with issues, ranging from paucity of funds to availability of land. According to the Delhi Metro Rail Corporation (DMRC), the cumulative effect of all these hurdles may result in the project missing its deadline.

Now, the process of acquiring land for highway projects is set to get shorter by at least six months as the entire process will go digital, eliminating chances of mistakes. This will also reduce the time taken in verification of land titles. The highways ministry will be hosting digital details of lands on Bhoomiraashi, a one-point platform for online processing of land acquisition and notifications.

Real estate developer Godrej Properties has entered into a joint venture with a local developer to build a group housing project at Sector 33, Sohna, which is 12 kms from the Golf Course Extension Road. The project will offer around 1.7 million square foot of saleable area.

Source: Media reports