#RealtyNewsRoundup: MG Housing Raises Rs 100 Cr For Dharuhera Project

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

Top News

Real estate firm MG Housing has raised Rs 100 crore from non-banking financial companies, Edelweiss and SMC Global, for its project in Dharuhera, according to The Economic Times report. The township, which currently has 51 acres of land, is close to the place where the new airport in Bhiwadi is proposed to come up, the report added. Read more

After the recent floods in Chennai, Tamil Nadu Chief Minister J Jayalalithaa has urged Prime Minister Narendra Modi to sanction a special scheme for constructing 50,000 homes for urban poor who need to be resettled at a total cost of Rs 5,000 crore as part of restoration works in rain-hit areas, according to a PTI report. Read more 

Off the frontpage

The Maharashtra state government has issued the final notification hiking additional development rights and premium charged, which in turn is likely to result in rise in realty rates in the suburbs, a Hindustan Times reported. Maharashtra's urban development department (UDD) had modified regulation 32 of the Development Control Rules (DCR) on December 4 to hike incentive (optional) Floor Space Index (FSI) for the city's suburbs from 0.33 to 0.50, the report added. Read more 

ASK Group has invested Rs 365 crore in realty developer Rajesh LifeSpaces' Vikhroli suburb project, The Economic Times reported. The residential project spread over 10.5 acre is located on the LBS Marg and has revenue potential of over Rs 3,000 crore. Read more