Realty News Roundup: Rs 500 Cr For Slum Rehabilitation in Mumbai; Technical Consortium To Be Set Up For Smart City Mission

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

Top News

The Maharashtra Government has decided to issue an ordinance, asking builders to complete re-development projects of dilapidated buildings in Mumbai in a stipulated timeframe. As of now, residents have been living in transit camps for a long period because of the delay in the project. Read more.

In another development, the state government has announced a package of Rs 500 cr for slum redevelopment in Mumbai. Read more.

Members of the welfare associations of multi-storeyed buildings in Hyderabad have asked to book builders instead of the residents for flouting fire-safety norms. This is in response to notices issued to them by the fire and safety department. Read here.

A technical consortium would be soon set up under the The Confederation of Indian Industry (CII) National Mission for smart city projects in the country. CII has signed an agreement with Essel Group to form The India Technical Consortium. Read more.

Off the front page
 
Event update: Property Show and Build Expo 2015, organised by the Confederation of Real Estate Developers' Association of India (CREDAI) and Builders Association of India, will be held from August 14 to 16 at the Club.
 
Business watch:  Ltd reported a 4.7 per cent drop in net profit now standing at Rs 122 crore for the June quarter. Unitech reported a consolidated net loss of Rs 281.29 crore during the quarter ended June 30.
 
Opinion
 
Pankaj Pandey of ICICIdirect.com talks about the Real estate space in an interview with ET Now. Read here.