Realty News Roundup: 7,000 Home Buyers To Get Flats In Noida; US-India Business Coucil To Discuss Smart Cities

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

Top News

Ten residential projects, which were affected by the Okhla Bird Sanctuary controversy, have received building completion certificates from the Noida Authority. Nearly 7,000 home buyers will be able to claim possession over their flats soon. As many as 53 projects are coming up in the sectors near the sanctuary and are in different stages of construction. Read more

Bharti Telecom CEO Sunil Bharti Mittal said that the India-US CEO's Forum formed by the Unites States (US) President Barack Obama and Prime Minister Narendra Modi will discuss how smart cities can be developed in India. The Indian side will seek American participation in this country-wide project. Read more

While speaking at the US-India Business Council (USIBC) meeting in Washington, External Affairs Minister Sushma Swaraj said that the US companies should participate in building smart cities in India. Addressing the meeting, she said, "The business of diplomacy in India's present government is business. The government's priority from day one has been to make it easy to do business in India and with India." She added that projects including Smart City Mission, Digital India, Housing for All by 2022, among others, present great opportunities for the US companies to invest in India. Read more

The Chennai Corporation has invited residents to give suggestions on the city's infrastructure projects for the smart city project. The Union government's website that invites citizens to participate has received 100 suggestions so far. Citizens can submit their suggestions till October 15. Of the many suggestions received, a strong opinion has been voiced for better utilisation of funds to restore water bodies such as Adyar, Cooum, Buckingham Canal and Otteri Nullah. Read more

The Chandigarh Union Territory administration will hold its third smart city consultation camp to hear the grievances of citizens and their suggestions for the Centre's smart city project. Read more

Off the front page

Cricketer Sachin Tendulkar has been appointed as the brand ambassador of the luxury real estate developer, Prime Meridian. Ravi Shankar, Managing Director of Prime Meridian said, "Sachin Tendulkar, as an integral part of the brand, will reiterate the core values of Prime Meridian which include trust and stability." Prime Meridian plans to invest in projects worth Rs 2500 crore in the next two years. Read more

Opinion

Read Manish Shah's opinion piece in Mint which observes that until as late as the previous year, the value of real estate assets appreciated greater than other asset classes. Manish Shah rightly points out that predictions such as real estate prices would decline by 50 per cent, are not based on sound analysis.