#RealtyNewsRoundup: Govt To Make Use Of Geo-Spatial Technology To Build Smart Cities, Says Naidu [Video]

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

The Centre plans to extensively utilise geo-spatial technology in realising its vision to build 100 smart cities across the country. Union Urban Development Minister M Venkaiah Naidu said: “Geo-spatial technology makes use of satellite navigation systems and computer databases called the Geographical Information System to create, capture, store and retrieve geographic and spatial information of any place.”

In a bid to ease EMI burden by ensuring cheap home loans in rural areas, the Centre has approved three per cent interest subsidy on loans of up to Rs 2 lakh for all households not covered under Pradhan Mantri Aawas Yojana (Gramin) . Stating this rural development minister Narendra Singh Tomar said: “The scheme would also enable people in rural areas to construct new houses or add to their existing pucca houses to improve their dwelling units.”

US private equity major Blackstone Group may acquire over 3.6 lakh sq ft spread over six floors in First International Financial Centre (FIFC) Tower in Mumbai's business district Bandra-Kurla Complex for over Rs 850 crore. US technology giant Apple has also picked up around 12,000 sq ft of office space in the building recently.

The East Delhi Municipal Corporation has started a drive to recover conversion charges and seal commercial properties that haven't paid their dues. As many as 3,750 such properties have been identified in Shahdara (North) zone alone.

Source: Media reports