Realty News Roundup: Detailed Guidelines For Smart Cities Soon; ICICI Cuts Rural Home Loan Rate

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

Top News

The Union Ministry of Urban Development is likely to release detailed guidelines for its ambitious smart city project. The Ministry has already consulted State Governments and Union Territories in this regard. In the next stage, the Ministry will put in place the execution policy for the project, set to be released in the next four months. The implementation schedule for the project is slated to begin in January, 2016. Read more.

In another development, a Parliamentary Committee has asked the Housing and Urban Poverty Alleviation Department to finalise details of a new scheme to provide home for all by 2022, and to share it with state governments at the earliest. The Committee has also asked the Department to provide necessary funds to states by July, 2015. Read here.

Meanwhile, some builders have reportedly expressed their disappointment over the draft Real Estate Bill, as they felt the Central Government has tried to shift the onus on other stake holders in the real estate business. Read more.

A good news for rural home buyers. Private lender ICICI Bank has reduced home loan rates for rural borrowers to 9.7 per cent. Read more.

Off the front page

Collection of the property tax still remains a headache for the authorities concerned. Latest to this, Mohali Municipal Corporation has reported more than 20,000 property tax defaulters. Read here.

Smart city watch: The Uttar Pradesh Government has finally decided to seek the Centre's help to choose one between Rae Bareli and Meerut for the smart city project. Both the cities have staked their claim for the project. Read here.

AMRUT update: Andhra Pradesh has selected 31 cities for the Centre's Atal Mission and Urban Transformation (AMRUT) project. Telangana on the other hand has selected 11 cities. Read here.

Upcoming event: The Chandigarh administration is organising a four-day international symposium on architecture to mark the master architect, Le Corbusier's, 50th death anniversary. It will be held from October 9 to 12. Read here.

Opinion

In praise of bricks: Read how bricks give a character to your home. Read here.

In praise of solar power: Read a piece on how a solar power facility works best for your home. Read here.