Realty News Roundup: Govt To Announce Smart City List by Sep 1; Piramal To Invest Rs 200 Cr in Slum Project

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

Top News

Union Urban Development Minister Venkaiah Naidu has said that the government will officially announce the list of 100 cities selected for the smart city project by September 1. Initially, 20 cities will be developed on a priority basis. Read more.

A report by the State-Level Banker's Committee (SLBC) in Gujarat has found that home loan demand has increased in the state for the first quarter of the current financial year. A cut in rates by real estate developers and an increasing transparency by builders are cited as reasons for this. Read more.

Off the front page

Piramal Fund Management has decided to invest Rs 200 crore in Omkar Realtor's Dhobi Ghat slum redevelopment project in Mumbai. The century-old Dhobi Ghat is an open-air laundry area, spread across seven acres next to South Mumbai's Mahalaxmi race course. Read here.

What's latest from Noida after the Centre cleared the controversial National Green Tribunal order on the projects here? Will the home buyers have to wait more for getting possession of their homes? Read here, here and here

The Nagpur Municipal Corporation (NMC) has increased property tax by 13 per cent. Another hike is also expected. Read more.

Opinion

As many as four newspapers' editorials on Monday are on the recent developments in the real estate sector. The Mint has batted for lowering of property prices. The Deccan Herald has welcomed the Real Estate Bill and has stated that it would empower home buyers. The Hindu- Business Line has sought a systemic solution to address the core problems behind unaffordable homes. Meanwhile, The Financial Express has cautioned to be careful on residential property.