If the Reserve Bank of India (RBI) move on June 6 to hike key interest rate by 25 basis points ruffled some feathers in the real estate sector, its decision to expand the scope of priority sector lending (PSL) that came as a major boost for affordable housing did the smoothening.
Loans given under priority sector lending are cheaper than those provided by the banks in their ordinary course.
“In order to bring greater convergence of the priority sector lending guidelines for housing loans with the affordable housing scheme, and to give a fillip to the low-cost housing for the economically weaker sections and lower-income groups, it has been decided to revise the housing loan limits for PSL eligibility,” the RBI said in a notification.
The Central bank would issue a circular in this regard o... Read More
The latest approval entails an investment of Rs 7,227 crore with central assistance of Rs 2,209 crore, the ministry said in a release
The Centre has approved construction of 1.5 lakh houses for urban poor under the Pradhan Mantri Awas Yojana (Urban), taking to 47.52 lakh the tally of houses under the programme so far, the Housing and Urban Affairs (HUA) Ministry said today.
The latest approval entails an investment of Rs 7,227 crore with central assistance of Rs 2,209 crore, the ministry said in a release.
The approval was given in the 34th meeting of the Central Sanctioning and Monitoring Committee at its meeting held here yesterday, it added.
Andhra Pradesh was sanctioned 56,512 houses, while Uttar Pradesh got 23,060, Madhya Pradesh 17,920, Jharkhand 14,526 and Maharashtra 13,506 houses. Read More
Haryana Urban Local Bodies Minister Kavita Jain on Wednesday said the central government had approved an action plan to cover 42,804 families in the state’s 28 cities under the Pradhan Mantri Awas Yojana (Urban) scheme.
The minister, during a meeting in Chandigarh, also said that in the first phase 24,221 families would benefit under the PMAY scheme.
The action plan for another 19 cities is also being prepared and it would be soon sent to the central government for approval, an official release said, adding that people residing in slums in Faridabad would also be allotted houses under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM).
It said that houses constructed by the National Building Construction Corporation (NBCC) in Faridabad in 2012 were being repaired.
Initially, 100 ... Read More
New Gurgaon is fast emerging as a realty destination in the NCR as the city is beautifully stoked by commercial as well as the residential properties. Although the delay in the completion of Dwarka Expressway has resulted in the slowdown of the work, this has not affected much to the development of the area.
“Sectors close to the national highway are registering good movement. People working in the offices located at National Highway Toll Plaza prefer this area due to the proximity to their office location. Affordability is also one factor that is driving demand in this area. Social amenities like local markets, schools, etc are developing fast with families living in this newly developed area,” says Surabhi Arora, Senior Associate Director (Research) at Colliers International India.
N... Read More
GURUGRAM: The department of town and country planning (DTCP) demolished two unauthorised colonies in Sohna tehsil on Tuesday. The encroachers had even built roads to the colonies, which was also demolished by the officials.
The drive was carried out by a team comprising district town planner (enforcement) RT Sharma, two assistant town planners, four junior engineers and other officials, as well as a duty magistrate and around two dozen cops from Sohna Sadar and Sohna City police stations.
An unauthorised colony each were demolished in Mandawar and Sohna villages in Sohna tehsil. While the illegal colony in Mandawar was spread over 30 acres, an illegal colony of around 3 acres had come up in Sohna village.
The team demolished five under-construction houses, several structures and two roads ... Read More
There are always so many things one ponders on while buying a property. So many questions hover in mind and if these questions are not properly answered, one is always confused to make an informed decision.It doesn’t matter if the buyer is purchasing the property for the first time in their life or fifth time, there is always emotions and feelings attached to it. The buyer should be well-informed and properly prepared for the purchasing process. If the buyer is well-informed, the buying process also becomes relatively smooth. While buying a property, the most important rule is that “no question is a dumb question”. Anything can be asked for which one is unsure... Read More
NEW DELHI: Travel between Palwal and Kundli will become seamless and the commute time will come down by half to just one-and-a-half hours from next month with the opening of the six-lane Eastern Peripheral Expressway (EPE).
However, the expressway still doesn’t have fuel stations, repair shops and eating joints. The government will also have to maintain robust enforcement against speeding and provide smooth connectivity for those exiting the expressway towards Chandigarh..
TOI travelled on the 135-km stretch on Saturday and saw how engineers and construction Eastern Peripheral Expressway (EPE)
Eastern Peripheral Expressway (EPE)
workers were doing shifts round the clock to complete the work by April 29 when PM Narendra Modi is scheduled to inaugurate the stretch... Read More
The probe has indicted the urban development authority’s estate office staff for their alleged involvement in the irregularities.
GURUGRAM: Huda has sought a high-level investigation into an alleged e-auction scam after an internal probe found irregularities in online sale of its properties in Gurugram last year. The probe has indicted the urban development authority’s estate office staff for their alleged involvement in the irregularities.
TOI had on September 28 highlighted the irregularities in the e-auction of Huda properties in the city, prompting the internal probe. The authority was accused of uploading details of properties on its website just two days before the e-auction in June-July, allegedly to benefit a couple of individuals and causing huge losses to the state exchequer... Read More
The demolition drive will continue till the entire area is freed of encroachments and unauthorised constructions, said district town planner (enforcement) Rajendra T Sharma.
GURUGRAM: In a crackdown on illegal structures in new sectors of the city, the enforcement wing of department of town and country planning (DTCP) demolished over 500 structures in sectors 81-95 this week. Between Monday and Wednesday — structures built along sector roads, unplanned pockets and on land acquired by Huda for sector roads — were demolished in one of DTCP’s biggest drives in recent times to check unplanned development in new sectors.
“The unplanned construction in these sectors was hampering planned development, besides being a security concern for residents who had recently shifted to these sectors,”... Read More
In 2016, Trump Organization had entered into its first commercial office deal in India with private equity fund and developer IREO
NEW DELHI: After making India its largest market with most number of Trump branded properties outside of North America, Trump Organization is in process to launch its maiden commercial real estate project in the country later this year.
“We will be launching a commercial project in India this year,” said Donald Trump Jr., Executive Vice Chairman of The Trump Organization.
The American real estate firm is also keen on forming alliances for hospitality projects in India but will take a decision on this at an “appropriate time”, he added.
In 2016, Trump Organization had entered into its first commercial office deal in India with private equity fund and dev... Read More