#RealtyNewsRoundup: Industry Body Urges Govt To Give Infra Status To Real Estate Sector [Video]

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

PHD Chamber of Commerce and Industry has urged the government to give infrastructure status to the entire real estate sector. The industry body proposed to urban development minister Venkaiah Naidu to take up the matter with the finance ministry not to confine infrastructure status to just the affordable housing segment.

The Municipal Corporation of Gurugram (MCG) has put on hold an order by the former district collector divesting over 400 acres of prime land worth Rs 3,000 crore from the civic body that was being claimed by private real estate developers and individuals. The land was earlier with the gram panchayat and came to MCG in 2010, two years after the municipal corporation was formed.

The National Green Tribunal (NGT) has allowed the Ministry of Environment and Forests to take some time to file documents in several pleas challenging the ministry's recent notification exempting real estate projects from obtaining prior environmental clearance. A bench headed by NGT Chairperson Swatanter Kumar listed the matter for day-to-day hearing from February 15.

Godrej Properties has reported 185 per cent year-on-year jump in its consolidated net profit at Rs 77 crore for the quarter ended December. The total income for the quarter also grew 91 per cent to Rs 554 crore. The company said the response to projects in Pune and Noida were excellent despite sluggish market conditions.

Source: Media reports