#RealtyNewsRoundup: Agra Smart City Project To Pick Up Pace After Assembly Elections

Work on the Agra Smart City project will begin after the assembly elections are over and the civic body has completed all the required documentation for the same. Agra Municipal Corporation (AMC) has prepared the proposals for area-based development and pan-city plans and has started making arrangements for a funding of the project. The project is estimated to cost Rs 2,122 crore.

The last tranche of pre-development works for the Navi Mumbai International Airport (NMIA), major actions like flattening a hill and diverting a river to create a level ground for the runways and terminals — is in the final stretch. Two city infrastructure companies are in the race for the Rs 545-crore tender for the project and the board of Cidco, the nodal agency for the execution of the major infrastructure facility, is likely to finalise the bid on February 23.

The National Housing Bank (NHB) has directed all housing finance companies with a minimum asset of Rs 50 crore to follow the guideline of “fit and proper“ for their directors and tighten risk management tools.

India's largest realty firm DLF Ltd will invest about Rs 3,500 crore this year to complete construction of almost all of its existing housing projects, a senior company official said. DLF has 18.5 million square feet area under construction in various housing projects, and it is targeting to complete about 15-16 million sq ft by end of this year.