#RealtyNewsRoundup: Govt To Sell 15% Stake In NBCC Today

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

The Centre will sell a 15 per cent stake in National Buildings Construction Corporation (India) Limited to raise around Rs 2,218 crore through a two-day offer for sale beginning today. The government, which holds 90 per cent stake in the company, has set a floor price of Rs 246.50 per share.

The Goods and Services Tax (GST) Council was unable to agree on two key elements of the proposed levy's framework — the rate structure and dividing its administration between state and Centre.  A decision on this is likely to be taken in a November 3 meeting of the council. 

The Haryana government's Department of Town and Country Planning has invited proposals from potential bidders to formulate guidelines and policy parameters for establishing Green Field Smart Cities in the state. The guidelines and policy parameters, which will be developed in accordance with the Smart City project of the Union government, entail that more than 250 acres of open land is developed using innovation planning and implementation to create smart living space.

Goa's plush Kingfisher Villa failed to find any taker yet again. The auction failed to attract even a single bidder, marking yet another futile attempt by lenders to recover dues from embattled businessman Vijay Mallya. Experts said due to its high reserve price at Rs 85.3 crore, the auction turned out to be a damp squib.

Source: Media reports