#RealtyNewsRoundup: Huda To Tweak Payment Policy Of Properties Sold In Auction

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

To generate more funds in a short span of time, the Haryana Urban Development Authority (Huda) has decided to tweak the payment policy of properties bought through an auction, from six years to 120 days. Till now, buyers of Huda property had to pay six annual instalments over six years. Under the new policy, which is expected to be implemented from next year, the entire amount has to be paid in just four months.

W Hotels Worldwide plans to open its first hotel in India, W Goa, in early November. The company seeks to expand its global portfolio to 75 properties by 2020. The 160-room property will be manned by 300 staff members. The company plans to open hotels at two other locations of Delhi and Mumbai.

The work has begun in Dubai on the construction of a tower that will stand higher than the world's tallest skyscraper, Burj Khalifa. To be built at a cost of $1 billion, The Tower at Dubai Creek Harbour will be the world's tallest tower when completed in 2020.

Non-banking finance company Altico Capital is planning to invest Rs 5,000 crore in residential real estate projects by March 2017 across India's top property markets, including Bengaluru, the National Capital Region, Mumbai and Pune.

Source:Media reports