#RealtyNewsRoundup: GST Rollout May Be Pushed To Mid-2017

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

To appease the India Inc, the government is mulling to delay the rollout of the country's biggest indirect tax reform — the Goods and Services Tax — to mid-2017. Sources said although the target date is April 2017, it could be delayed by six months as the industry has sought some time for preparation.  

In a bid to generate more residential space in Mumbai, the Brihanmumbai Municipal Corporation has approved 24 projects near the coastline around Girgaum Chowpatty, Prabhadevi, Mahim and Shivaji Park. The civic body has so far sanctioned seven such redevelopment projects in south Mumbai and 17 projects in Mahim and Dadar.

The Labour Ministry will come out with a scheme to provide low-cost housing for retirement fund body Employees' Provident Fund Organisation (EPFO) subscribers. Stating this, Union Labour Minister Bandaru Dattatreya said the move would further encourage members to continue their PF membership throughout their working life.

The smart city list for the third round is expected to be unveiled by the end of this month. The total number of cities selected till now for the Smart Cities Mission is 33 which include Chandigarh, Lucknow, Agartala, Chennai, Bhubaneshwar among others. This leaves 77 open slots.

 Source: Media reports