#RealtyNewsRoundUp: Centre Okays Rs 10,000-Crore Road Projects For 6 States
Realty News Roundup is PropGuide's selection of top stories from the real estate sector.
The government on February 12 approved 13 national highway projects worth Rs 10,300 crore for six states. The projects will be awarded by the end of next month. The 670-km projects, which are mostly highway expansion plans, will come up in Maharashtra, Rajasthan, Chhattisgarh, Andhra Pradesh, Tamil Nadu and Madhya Pradesh. Read more
To recover a part of Rs 6,963-crore loans from the now-defunct Kingfisher Airlines, lenders have pegged a reserve price of Rs 150 crore for the Kingfisher House. The building will go under the hammer on March 17. The 2,401-square-metre property is in the possession of SBICAP (SBI Capital Markets Ltd) Trustee Company since February last year. A consortium of 11 lenders has been struggling to recover their dues from Kingfisher Airlines (KFA) ever since it defaulted on its loans in 2012. Read more
Buying plots or homes from private realtors in and around Bengaluru is set to get costlier. The state government has proposed a two per cent cess on the market value of fresh layouts to implement projects for the Ring Road, drinking water, rapid transit and slum development (0.5% each) . The charge will be only for private layouts. Read more
To decongest city roads, the Delhi government has decided to construct 10 elevated corridors in various parts of the national capital. Public Works Department (PWD) Minister Satyendar Jain said recently the government had identified locations where these new elevated corridors would be built. Of the 10 elevated corridors, three will be two-tiered while others single-tiered. The two-tiered ones would also have Bus Rapid Transport (BRT) corridor. Read more
Diversified group ITC is looking to invest Rs 800 crore in Odisha over the next few years to set up a hotel property and a food processing park in the state. ITC Chairman and Managing Director Y C Deveshwar while speaking on the sidelines of the Make in India Week said the hotel property would come up in Bhubaneshwar, while the details of the food processing park were being worked out. Nearly, Rs 630 crore will go into the food processing park while the rest will be invested in the hotel. Read more