#RealtyNewsRoundup: Demonitisation Drive May Fund 'Housing For All' Dream
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Realty News Roundup is PropGuide's selection of the day's top stories from the real estate sector.
Let's start with some good news. According to reports proceeds from the demonetisation drive could fuel the government's plans to give a leg-up to the housing market. Senior cabinet ministers are in favour of using the money earned from demonetisation to announce a housing scheme with cheaper home loan rates of 6-7 per cent. The new housing scheme is likely to be announced by Finance Minister Arun Jaitley in the annual budget to be presented on February 1 next year.
Altico Capital has teamed up with American private equity firm KKR's realty lending arm to fund a 66-acre residential township in Gurgaon. Being developed by SARE Homes, the Rs 450-crore loan will be used to finance the remaining phases of a project in Sector 92. The developer is constructing 4,000 residential units over an area of 6.2 million square feet.
The Maharashtra government has finally given its nod to the much-awaited Navi Mumbai Airport Influence Notified Area (NAINA) . In the first phase, 23 earmarked villages of Panvel taluka, covering 37 sq km, will be developed. Cidco, the planning agency, will spend nearly Rs 12,600 crore over the next one decade on infrastructural development.
Online real estate portal PropTiger.com has tied up with L&T Finance Wealth Management to provide services to the high net-worth individuals (HNIs) looking to invest in properties in India. With this partnership, the company aims at providing end-to-end solutions to L&T's HNI clients. The company's chief business officer Sunil Mishra said: “Through this partnership, HNI customers in India will experience our research-backed and technology-oriented real estate advisory services."
Source: Media reports