#RealtyNewsRoundup: Govt Allows PF Withdrawal For Housing And Health

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

 

The labour ministry recently eased the planned restriction on withdrawal of contribution to the employees' provident fund. The ministry has allowed withdrawal for housing, major medical treatment for self and family, medical, engineering education of children, and their marriages. The relaxation has also been extended to the members who have joined an establishment belonging to or under the central or state government, and become a member of contributory provident fund or old age pension. These norms will come into effect from August. Read more

The contentious Enemy Property (Amendment and Validation) Bill, 2016, will come up before a Select Committee of the Rajya Sabha today, where a number of states are expected to express their views. The panel has been tasked to scrutinize the Bill and submit its report in the opening week of the next Parliament session which begins from April 25. Read more

LIC Housing Finance reported a rise of 19.5 per cent in its consolidated net profit at Rs 1,667.70 crore for the quarter which ended on March 31. The company had posted a net profit of over Rs 1,395 crore in the corresponding quarter previous fiscal, it said in a regulatory filing. Read more

New Delhi's Lutyens' Bungalow Zone, arguably India's most privileged urban enclave, is set to shrink. Dismissing objections from conservationists and prominent Delhiites, the Delhi Urban Art Commission has recommended exclusion of eight super-posh residential areas from the Lutyens' Zone. This means relaxations of the floor area ratio for these soon-to-be ex-Lutyens' addresses and the possible arrival of highrises in areas known for grand low-rise residences. The tony neighbourhood houses the country's political super elite as well as residences of some of India's richest business barons. Read more