Realty News Roundup: Centre Clears Rs 2,786 Cr For First Batch Of AMRUT Projects; Indians Are Top Foreign Investors In Dubai Realty

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

Top News 

In a first step towards building a new India, Union Urban Development Ministry cleared a fund of Rs 2,786 crore for 89 cities for the first batch of projects under the flagship Atal Mission for Rejuvenation and Urban Transformation (AMRUT).  Andhra Pradesh, Gujarat and Rajasthan are among the states that will get this fund. Read more.

Indians emerged as top foreign investors in Dubai real estate during first half of 2015 with a total of 3,017 transactions worth over $2 billion. Read more.

A latest study by Associated Chambers of Commerce and Industry of India (ASSOCHAM) has found that nearly 75 per cent of the total 3,540 live real estate projects, with total outstanding investments worth over Rs 14 lakh crore, are  non-starters. Read more.

The Bombay High Court has ordered that developers cannot sell common areas of a newly constructed high-rise building. Read more.

International: Reports suggest that the US residential real estate market continues to show strength. According to this report, home re-sales rose more than expected in September to the second-highest monthly sales pace since February 2007. Meanwhile, in Singapore, prices of private homes fell to a four and a half-year low. Reports suggest that it is mainly due to the government-introduced cooling measures in the country. 

Off the front page

Market watch:  Real estate is one of the key sectors of interest in the private equity deals (PE) in India. With a total deal of $16.7 billion, private equity (PE) investment marked 1.1 times increase in the last nine months compared to the deals in the all of 2014. Read more.

Business watch: Motilal Oswal Real Estate is reportedly going to launch its third real estate fund, targeting to raise up to Rs 1,000 crore. VCCircle reports that Singapore's sovereign wealth fund GIC has acquitted a 50 per cent stake in New York-based real estate developer Tishman Speyer's office park in Hyderabad, WaveRock. For more such news, click here and here

Opinion

Are real estate and e-commerce a bubble, boom or collapse in India? This article attempts to answer this question. Read here