Realty News Roundup: Ministry Approves Construction Of Over 2L Houses For Urban Poor; Prateek Group Raises Rs 135 Cr

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

Top News

The Housing and Urban Poverty Alleviation Ministry has approved construction of 2,28,204 houses for the urban poor in five states, news agency PTI reported. The Union government will provide an assistance of Rs 3,231 crore to this project. The approved projects are in the states of Andhra Pradesh, Telangana, Tamil Nadu, Gujarat and Rajasthan. Read more

The district administration of Gurgaon has set up an arbitration panel to speed up the process of real estate dispute redressal, IA reported. The Arbitration Council (GAC) would work closely with Real Estate Development Council Services (REDCO, Haryana), the report added. Read more

Off the frontpage

The Gautam Budh Nagar district stamp and registration department has sent show cause notices 8,841 flats and 630 shops belonging to 11 developers in Noida, The Times of India reported. N P Singh, Gautam Budh Nagar district magistrate said the developers had not registered these properties in favour of their respective buyers. In some cases they have even obtained occupation certificates from the authority, the report added. Read more

-based real estate developer Prateek has raised Rs 135 crore from Housing Finance Company, ETRealty.com reported. The funds have been raised for its project Prateek Wisteria in Sector-77, Noida. The project will have a total of 20 towers, of which about 15 have already been delivered to home buyers. Read more