#RealtyNewsRoundUp: Huda To Raise Rs 6,000 Cr From 11 New Sectors Planned In Gurgaon Division

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

The Haryana Urban Development Authority (Huda) plans to develop 11 new sectors in Gurgaon division. In the absence of land in main Gurgaon city, the sectors will be developed in the periphery such as Rewari, Bhiwani, Hisar, Kurukshetra and Sonepat. The authority aims to raise Rs 6,000 crore by selling plots in these sectors. Read more

According to the latest report by State Level Banker's Committee (SLBC), the demand for home loan in Gujarat has gone up by 21 per cent in October-December quarter in 2015-16, as compared with the same period last year. The report suggests that fresh loans worth Rs 2,811 crore have been granted in the third quarter to over 20,000 beneficiaries. While in the same quarter previous year, loans worth Rs 1,509.79 crore were granted to 16,639 beneficiaries. The rise is driven by increase in affordability and investment by non-Gujaratis in the state's real estate and also, increase in the number of real estate projects in the affordable category. Read more

Reports suggest that old housing colonies of south Mumbai and Delhi are becoming lucrative sites for luxury projects among developers. There is land scarcity in these prime locations, thus, developers are opting to redevelop the existing societies to get access to land parcels. In a recent development, HBS Realtors is on a drive to redevelop 45 old residential societies spread across seven acres at Mumbai's Worli, Hughes Road, Marine Lines and Haji Ali. These societies will be developed over a period of five years. Read more

The government of Telangana has begun the process of taking back the land allotted to the controversial Emaar-MGF project and Reliance ADAG. The land was allotted on the outskirts of Hyderabad. While Emaar project has been stuck in a legal dispute for the past six years, the Reliance ADAG project has not been completed since 2007. Read more

In an interesting development, a complete town in the state of Nevada, United States, is up for sale. The selling price of this town, Cal-Nev-Ari, is $8 million and is being sold by its founder Nancy Kidwell. Kidwell along with her husband had founded this town in 1965 and today, nearly 350 people live here. The places up for sale in the town include 500 acres of vacant land, a casino, a diner, a convenience store, a 10-room motel, the RV park and a mile-long dirt airstrip. On the other hand, the things not up for sale include the residents, some privately-owned homes, the small community centre and a volunteer fire station built by Clark County. Read more