#RealtyNewsRoundup: New Transit Policy Approved, Higher FAR For Metro Links In Gurgaon
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Realty News Roundup is PropGuide's selection of top stories from the real estate sector.
The transit-oriented development policy along the existing and proposed Metro corridors in Gurgaon was approved by the district planning committee recently. The policy aims to increase population density in areas near Metro stations to minimise the need for personal vehicles. Once the policy is implemented, it would lead to the creation of more residential units and commercial real estate, paving the way for another round of real estate development in the Millennium City. Read more
Indiabulls Finance, one of the largest housing finance companies in the country, is in talks with investment bankers to raise Rs 1,650 crore through external commercial borrowings to expand credit in the affordable housing sector. Read more
Real estate developer Omaxe Ltd sold residential and commercial properties worth Rs 1,648 crore in the 2015-16 financial year, up 11 per cent from the 2014-15, despite a fall in average sales realisation. The sales bookings rose 14 per cent to 4.89 million sq ft in FY16. Read more
Billionaire Anil Agarwal's Sterlite Power Transmission aims to raise up to Rs 2,500 crore through infrastructure investment trust before December. Sterlite Power Transmission, which was recently carved out from Sterlite Technologies, plans to raise the funds through its subsidiary Sterlite Power Grid Ventures. Read more