Realty News Roundup: Buyers Seek Greater Transparency In The Builder-Buyer Agreement; KMB Estates To Invest In Mixed Use Development
July 06 2015 |
Proptiger
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Realty News Roundup is PropGuide's selection of top stories from the real estate sector
Top News
Two days after a committee selected by the Rajya Sabha invited feedback on the Real Estate (Regulation and Development) Bill, 2013, home buyers have asked the panel to ensure greater transparency in builder-buyer agreements. The 21-member committee, headed by MP Anil Madhav Dave, had asked individuals, organizations, institutions and experts to submit their views on the real estate bill. Their feedback will be discussed in a meeting in New Delhi on Tuesday. Read more.
Experts think that Indian cities need earthquake-resistant structures and major reforms in building bylaws. According to a report in the Hindu Business Line, experts said that in Indian cities, buildings are not equipped to handle earthquakes. They were speaking at a seminar on 'Earthquake safety measures' organised by the Confederation of Real Estate Developers' Associations of India (CREDAI) in Vijayawada.
More urban local authorities are joining the race to become smart cities. A report in The Economic Times says that Aurangabad Municipality is keen on getting the Smart City tag in the union government's Smart City project. Meanwhile, another report says that the preparations to nominate Gurgaon for the Centre's Smart City project has begun. On Saturday, the MCG met residents for a brainstorming session.
Off the front page
Realty player KMB Estates is reportedly planning to invest around Rs 600 crore over the next 3 years to develop three premium mixed-use development properties under the brand 'La Palazzo'. It expects a revenue of Rs 1,000 crore from these projects. Read here.
In yet another development, realty player Mahindra Lifespaces, part of Mahindra Group, plans to set up residential projects in states like Andhra Pradesh, Rajasthan and Madhya Pradesh under the affordable home segment.
The post of vice-chairman in the Delhi Development Authority (DDA) is vacant after senior IAS officer Balvinder Kumar was transferred. Read more.
Opinion
Read this DNA editorial on the Real Estate Bill. The newspaper welcomes the Parliamentary Select Committee's recommendations for harsher provisions against unscrupulous builders in the Real Estate (Regulation and Development) Bill, 2013.
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Buyers Real Estate Regulatory Bill Real Estate News Realty News Roundup Builder buyer agreement
Buyers Real Estate Regulatory Bill Real Estate News Realty News Roundup Builder buyer agreement