Right from two smart cities in Yamuna Expressway to Venkaiah Naidu stating that property prices to down with RERA bill’ 16. See what news we’ve got for you today.
1. Industry Experts say that multiple authorities should not play a spoilsport in the Real Estate Bill
A company release said that establishes state level authorities or appellate tribunals should not create issues and elongate the development of real estate in the country.
Read More: http://bit.ly/real-estate-bill-spoilsport-et
2. Yamuna Expressway to have 2 new urban townships and smart cities in 6,000 acres
YEIDA will have two smart cities over a 6000-hectares of land. It will contain a heritage city to promote tourism and a 100% dedicated industrial. This project will be adjacent to cities of Mathura, Agra and Hathras.
Read More: http://bit.ly/yamuna-expressway-smartcity-et
3. Venkaiah Naidu claims that with RERA in effect, the property prices will come down.
The minister said that previously, the rate of interest payable by buyer and builders used to differ. They found that this was incorrect. Now, the payable interest by either of them will be the same.
Read More: http://bit.ly/real-estate-property-prices-et
4. New tenancy laws to be framed by the Government to promote rental housing
A modern tenancy law will be framed by the government to promote rental housing in urban areas. This will be done due to the current contemporary requirements of the tenants.
Read More: http://bit.ly/new-tenancy-law-et
5. Jail term for home buyers if tribunal’s order not obeyed
If a Regulatory authorities or Appellate Tribunals order is not obeyed, a homebuyer might get a jail term up to 1 year. This provision has been included in the RERA Bill’16.
Read More: http://bit.ly/home-buyers-et
6. Punjab Announces huge incentives for affordable housing projects
Months ahead the next assembly elections, the Shiromani Akali Dal-BJP government in Punjab on announced huge incentives for affordable housing.
Read More: http://bit.ly/affordable-housing-punjab
7. Bengaluru property sees exit of Milestone Capital Advisors for Rs 150 crore
Milestone Capital Advisors, the real estate private equity investor has announced an exit from the Bengaluru commercial property (Phase 1, Electronic City). It fetched more than 16% of gross internal rate of return at Rs. 150 crores.