Realty News Roundup: New Formula For Banks On Lending Rates; NITI Aayog To Organise Workshop On Smart Cities

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

Top News

The Reserve Bank of India (RBI) has drafted a new formula for banks to calculate base rate. The new formula will be based on a bank's marginal cost of funds, instead of certain variants. Read more.

The NITI Aayog is organising a workshop on smart cities, Transforming Urban India: Developing Smart and Sustainable Cities, on Wednesday. Read more.

Business watch: According to this report, Vascon Engineers has decided to raise Rs 200 crore for its real estate projects. In another development, Jain group has decided to invest Rs 580 crore in a real estate project at Mouza-Amgachia near Kolkata. This report says that Bengaluru-based real estate firm Unishire has raised Rs 126 crore by issuing non-convertible debentures. For more such developments, click here, here and here.

Off the front page

YES Bank has decided to enter into the affordable home segment for lending. The bank is expected to start the process soon. Read more.

A report has found that commercial real estate demand is growing in India. Another report says that Bengaluru's residential market has the second-highest number of unsold inventory.

Opinion

State Bank of India Chairman Arundhati Bhattacharya talks about lending rate, gross domestic product growth, teaser loans and much more in an interview with The Hindu Business Line. Read here.