#RealtyNewsRoundup: Govt Tells Banks To Focus On Affordable Housing
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The government on January 28 advised public sector banks to focus on lending to the affordable housing sector in order to boost the overall economy. After taking a performance review of the banking sector, Finance Minister Piyush Goyal said the health of the sector would improve in the days to come on government support and it should focus on lending to the affordable housing sector to meet the housing-for-all-by-2022 target.
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Hero FinCorp, the financial services arm of business conglomerate Hero Group, is leading the race to buy Aadhar Housing, Wadhawan Group’s affordable homes financier. Other companies that are in race to buy the finance company include Blackstone Group and Baring Private Equity (Asia).
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Residents, who owe the Pune Municipal Corporation (PMC) large amounts in property tax dues may see their immovable assets getting sealed in the days to come as the municipal body goes all out to improve its tax collection. The PMC has directed its officials to go all out and employ all possible measures to meet the 2018-19 revenue target of Rs 1,619.91 crore.
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On expectations of a dip in sales, global ratings agency Moody's has downgraded its outlook on India's largest real estate company Lodha Developers. The agency affirmed its rating at B2, but downgraded its outlook to "stable" from the "positive". The agency said it expected Lodha's operating sales in financial year 2018-19 to be 25 per cent lower than what it had achieved in the previous 12 months.
Source: Media reports