Realty News Roundup: Builders Demand Corrective Measures; Piramal Likely To Buy IL&FS

Realty News Roundup is PropGuide's selection of top stories from the real estate sector.

Top News

The Builders Association of India has appealed to the government to initiate corrective measures to resolve issues stalling housing and infrastructure developments in the country. They have sought urgent attention on the issues such as the lapse of the land acquisition ordinance, relaxation of banks' lending norms, a reduction in interest rate, among others. Read more.

Piramal Enterprises is likely to take control of Infrastructure Leasing & Financial Services (IL&FS) , India's largest unlisted infrastructure developer and financier. Reports suggest that the company is likely to scoop up IL&FS in an all-stock deal to create a Rs 15,000-crore entity. Read more.

Off the front page

Prestige Estates Projects is reportedly planning to raise Rs 1,000 crore through non-convertible debentures. The company has sought shareholders' approval for the same. Read more.

The West Bengal Housing Infrastructure Development Corporation will launch a HIDCO smart city application (app)  by the end of September for the Newtown locality. Kolkata-based Indus Net Technologies has been entrusted to develop the app. Read more.

Opinion

Amarjit Bakshi, Founder and Managing Director, Central Park, says that there is a sharp increase in the demand for luxury homes in India. "Affordable homes offer the required shelter and companionship but luxury homes take you right up the social ladder," he says. Read here.