Realty News Roundup: Ease Of FDI Norms Opens Up Real Estate For Cash-Strapped Developers; CCI Clears DLF-GIC JV

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

Top News

The Prime Minister Narendra Modi-led government has opened up the real estate market for cash-strapped developers, as it overhauls the rules for foreign direct investment (FDI) in the country. Under the eased norms, developers will not require approval for overseas ownership of some projects and many barriers will be removed for smooth flow of FDI in the construction sector. Read more 

The Competition Commission of India (CCI) has approved the DLF and GIC joint venture. The JV, which will be formed with an investment of Rs 1,990 crore, will develop two project in Delhi. Read more

Off the frontpage

According to a study carried out by the Slum Rehabilitation Authority (SRA) using Geographic Information System (GIS), a mapping system, Mumbai officially has 3,293 slum clusters. These slums, the report adds, are spread over an area of 9,008 acres. Read more

Rahul Gaur of Noida-based Brys Group has been arrested for a land fraud in Odisha. He is accused of duping a businessman of Rs 18 crore, as he sold him a disputed land in Pahala near Bhubaneswar. Read more