#RealtyNewsRoundUp: Govt Plans To Present Realty Bill In First Half Of Budget Session

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

Top News

The Prime Minister Narendra Modi-led government is planning to introduce the Real Estate Bill in Parliament in the first half of the budget session. And, the government is confident of its passage, according to a report by The Times of India.

Parliamentary Affairs And Housing Minister M Venkaiah Naidu said that the bill was one of the priorities of the government and all the parties were on board as the government had incorporated all their recommendations suggested by different parties. The bill is expected to provide a much needed regulatory framework for the sector. Read more

 

Valion Private Real Estate Family Office, the property advisory firm for high net worth individuals (HNIs) and ultra-rich HNIs, is planning to raise $6 million funds for launching a first ever online platform in the country for property investment, disposition, advisory, and letting and property management reported ETRealty.com. Read more

 

Kochi Smart City project is expected to be inaugurated in February. This was decided on January 17 by the project's board of directors. Kerala IT and Industries Minister P K Kunhalikutty confirmed saying the exact date would be announced next week. Read more

 

Off the frontpage

After Supreme Court observed that housing projects should get environmental clearance before the commencement of work, real estate organisations from major metro cities have reiterated that building plans of the projects were approved only after the local government bodies grant environmental clearance.

Environment clearance has been a problem area with developers as it plays a huge role in the delays in building projects. Read more