#RealtyNewsRoundup: Huda Razes 200 Illegal Houses In Gurgaon

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

The Haryana Urban Development Authority or Huda recently demolished more than 200 houses built over encroached land in sectors 49 and 50 in Gurgaon. The residents of Rosewood Society had brought the issue to Huda's notice which found large-scale violation as encroachers had built several houses with illegal power connection and other facilities.

In a bid to have seamless connectivity between the national capital and Gurgaon, the Haryana government is planning to build a 4.5km-long four-lane road from Bajghera in Gurgaon to Bijwasan in Delhi. With land acquisition for the Delhi part of the Dwarka Expressway having just started, Haryana Chief Minister Manohar Lal Khattar said multiple connectors between Gurgaon and Delhi are essential as there is only one connector to NH-8, which causes congestion on the expressway and slows traffic across Gurgaon.

The Securities and Exchange Board of India (Sebi) has finally granted three companies — IRB Infrastructure, GMR and MEP Infrastructure — the license to launch infrastructure investment trusts (InvITs). With a view to help infra developers mop up funds for long-term projects in a more transparent manner, the markets watchdog had introduced InvITs in 2014.

Ajay Piramal's Piramal Fund Management and Shapoorji Pallonji Real Estate Development will pump in about Rs 300 crore in a real estate project launched by Mumbai-based developer Ornate Spaces. The duo, along with Ornate, will construct a one-million-sq ft residential project Grove Towers at Oshiwara in suburban Mumbai.