#RealtyNewsRoundup: Govt Set To Roll Out Pradhan Mantri Awas Yojna-Gramin; Beneficiaries To Be Unveiled On April 24
Realty News Roundup is PropGuide's selection of top stories from the real estate sector.
The government is set to roll out the Pradhan Mantri Awas Yojna-Gramin after drawing up a list of beneficiaries based on the Socio Economic and Caste Census 2011(SECC) data for a final verification at gram sabha level. Officials said the list of beneficiaries under the programme, earlier called the Indira Awas Yojna, will be made public in each gram sabha on April 24 as part of BR Ambedkar's 125th birth anniversary celebrations. Read more
The road transport and highways ministry wants the Delhi government to pay Rs 10,000 crore for the construction of eight new elevated corridors linking the eastern and western peripheral expressways to improve traffic situation in the national capital. The two expressways, which will come up at a cost of Rs 20,000 crore, will help divert the long-haul inter-state heavy vehicles from Delhi roads. A meeting in this regard was held between Union road transport and highway minister Nitin Gadkari and Delhi Chief Minister Arvind Kejriwal. Read more
The Trump Organization has signed its first commercial office deal in India with private equity fund and developer IREO in Gurgaon. The American real estate firm founded by Donald Trump, the front runner for the Republican nomination for the President of the United States, will lend its name to a new high-end 600,000-700,000 sq ft office building on Gurgaon's Golf Course Extension Road, which will be built by IREO alongside a retail complex for about Rs 1,000 crore. Read more
With cash flow down to a trickle, Jaiprakash Associates (JAL) and Jaypee Infra are offering land parcels of around 2,200 acres to banks in a bid to buy peace with lenders and settle most of its loans. Banks have shown willingness to take over land parcels to avoid putting a non-performing asset (NPA) tag on the two Jaypee group companies. Read more
Swedish furniture retailing giant IKEA is in talks with Oberoi Realty to buy a built-to-suit retail space for over Rs 900 crore in its upcoming project in Borivali suburb of Mumbai. The company is buying retail space spread over 3.5 lakh sq ft and this will be the largest space to be occupied by any single furniture brand anywhere across the country. Read more