Realty News Roundup: PM Launches Smart Cities Mission, AMRUT, Home For All By 2022 Schemes; Equity Deals Are Back In Real Estate 

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

Top News

On Tuesday, Prime Minister Narendra Modi launched the 100 Smart Cities Mission, Housing for All by 2022 and the Atal Mission for Rejuvenation and Urban Transformation (AMRUT). At the launch held at Vigyan Bhawan in New Delhi, the PM said that a city that is two steps ahead of its citizen's needs is a smart city. "As the world looks to India, we have to work towards reaching the world standard. We can't feel disheartened that the world has progressed and we missed the bus," Modi said. Read more.

A Business Standard report has said that equity deals are back in real estate. The report states, "Equity deals are finding favor with real estate private equity (PE) funds once again. Many real estate PE funds were doing pure debt deals or structured debt deals with property developers, as these deals ensure guaranteed returns. PEs are looking at developers, who have city-centric projects with high return prospects." Read more.

Off the front page

In Kolkata, the Municipal Corporation has formed a committee that will determine 'fair' rates for the city's beautification projects. According to this report, the committee will help civic officials in fixing a 'fair rate' for contractors who will be awarded tenders for beautification works.

In Goa, Governor Mridula Sinha called upon real estate firms to participate in making Swacch Goa, Swachh Bharat possible. Sinha was speaking at a meeting held with builders/developers at Raj Bhavan, Dona Paula, on Wednesday. Read more.

In Tamil Nadu, Tirupur Exporters' Association today requested Chief Minister Jayalalithaa to nominate Tirupur for the smart city scheme and recommend to central government for its inclusion during 2015-16 and make it one among the 100 smart cities. Read the report here.

Opinion

The New Indian Express has published an article on how and where to find the best properties. Read it here.