Realty News Roundup: Rajasthan Govt Inks 4 MoUs To Promote Affordable Homes; Noida Authority To Auction 100 Plots
Realty News Roundup is PropGuide's selection of top stories from the real estate sector
Top News
Rajasthan government signed four memorandums of understanding (MoUs) to promote affordable homes in the state. The state has signed a total of 27 MoUs to get an investment of Rs 12,478 crore for residential and urban development projects in Jaipur. Read more.
This festive season, the Authority has announced auction of 100 commercial plots of small, medium and large sizes, ranging between 18 sqm and 64,500 sqm at a base price of Rs 1.59 lakh per sqm. Read more.
The police have registered a case against yet to be identified politicians and officials in connection with the developer's suicide in Thane. The action has come after Suraj Parmar's suicide triggered nation-wide protest by real estate developers seeking a corruption-free and efficient system for them to operate. Parmar, in his suicide note, had accused the corrupt officials as the reason for his decision to shoot himself. Maharashtra Chief Minister Devendra Fadnavis has directed the police to take strict action in the case. Meanwhile, developers association, Confederation of Real Estate Developers' Association of India (CREDAI) , sought industry status for real estate. The association also asked the government to bring reforms in urban local bodies (ULBs) administration and sought single-window clearance for realty projects.
Off the front page
Online home sale is growing rapidly in India. In a recent development, Realty developer Tata Housing Development Company tied up with Facebook to market one of its projects in Goa. According to this report, potential homebuyers can register themselves on Facebook to receive a unique invite code, which can be used for booking homes in this project.
Business watch: In stock exchange, shares of Indiabulls Real Estate escalated 2.7 per cent after the company announced to sell its stake in a property in London. For more such news, click here and here.
Opinion
This article states that affordable homes is not only an excellent way of leveraging brand value for companies but also a means of ensuring immunity to market slowdowns. "As a business vertical has stood the test of time, even as costlier luxury homes segment are facing a hard time in the current scenario. Builders who have tasted success by proving much-needed affordable housing are therefore encouraged to cater even more to this segment," the article reads. Read here.