Realty News Roundup: Panel On Realty Bill Seeks Extension; Kohler To Expand Base in 100 Indian Cities

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

Top News

A parliamentary joint committee has sought extension to submit its amendments to the Real Estate Bill. A report in the Times of India states that the committee is unlikely to submit its report on Friday, the stipulated deadline. It is now expected to fulfill its task on Monday and submit the report on Tuesday. The report also suggested that the delay was caused by some of the members from the Opposition parties seeking more time to go through the report. Read here.

In a confidence booster to the real estate sector in India, US-based kitchen and bathroom major Kohler has announced that it would expand its base to 100 cities in the country by the end of 2015. The move is expected to minimize the impact of slowdown in the real-estate sector. Read more.

For those looking to invest in property in India, the government-owned Indian Bank has announced e-auction of seized properties related to mortgages. The Bank has said that the properties are worth Rs 600 crore that belonged to 280 accounts. The e-auction will take place next month. Read here.

More cities are staking claim for the central government's Smart City tag. The Odisha government has decided to recommend five cities from the state for the project. This report says that the state list includes the cities of Bhubaneswar, Rourkela, Cuttack, Berhampur and Sambalpur. Meanwhile, another report says that the city of Agra is also in race for the Smart City tag. In yet another development, Madurai Mayor has said that a detailed proposal to make the temple city one of the 12 smart cities in Tamil Nadu has been sent to the Tamil Nadu Urban Infrastructure Development and Finance Corporation (TNIDF).

Off the front page

The Uttar Pradesh Rajkiya Nirman Nigam (UPRNN) would build 185 buildings by the end of the present financial year, this report said. 

For those planning to buy property in Gurgaon, realty major DLF has come up with a '20:20:60' plan for a project in the city. As explained in this report, a buyer has to give 20 per cent of the total cost within one month of booking as part of the scheme, another 20 per cent on application of occupancy certificate and the remaining charges at the time of possession. 

Opinion

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