#RealtyNewsRoundup: Karnataka Extends Time Limit To Regularise Rural Properties

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

The Karnataka government has extended the time limit for people residing in rural areas to apply for regularisation of their properties built on government land. Owners of unauthorised houses have been asked to submit their applications by the month-end.

The Lodha Group has raised Rs 2,320-crore debt from Piramal Fund Management to fund projects in south and central Mumbai, including The World Towers. This is the single-largest debt transaction to take place in the real estate funding space, where the money will be utilised to refinance existing debts and complete on-going projects.

Realty developer K Raheja Corp has entered into an agreement to acquire over 62 acres of land parcel from Mafatlal Group's Standard Industries in Navi Mumbai for Rs 355 crore. The land parcel, which will be acquired by Feat Properties, a subsidiary of K Raheja Corp, has total development potential of around 8 million sq ft.

The Vadodara Municipal Corporation plans to build as many as 10,000 houses to rehabilitate the urban poor. The Slum Rehabilitation Committee has given its approval to construct over 3,276 houses in the city under the Pradhan Mantri Awas Yojana on a public-private partnership basis.

Source: Media Reports