#RealtyNewsRoundup: Number Of Smart Cities May Cross The 100 Mark, Hints Govt

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

The central government has indicated that the number of smart cities in India may cross the 100 mark. It has allowed seven state capitals — Patna, Bengaluru, Naya Raipur, Itanagar, Shimla, Thiruvananthapuram and Amravati — to participate in the competition. On May 24, the government had announced a list of 13 new smart cities, taking the total count to 33. The selected cities were Agartala, Bhagalpur, Chandigarh, Dharamshala, Faridabad, Imphal, Lucknow, New Town Kolkata, Raipur, Ranchi, Panaji, Port Blair and Warangal. Read more

Real estate firms Omaxe and Parsvnath Developers have reported profits for the quarter ended March 2016. While Omaxe reported consolidated net profit of Rs 24.35 crore, Parsvnath reported a profit of Rs 5.93 crore. On a year-on-year basis, Omaxe's net profit rose to Rs 78.32 crore while Parsvnath posted a net loss of Rs 35.56 crore. Read more here and here

Real estate major Wadhwa Group announced the appointment of Girish Shah as its director. In his new role, Shah will be responsible for Information Technology, Sales, Marketing, Human Resource and other functions. Shah was earlier associated with Godrej Properties as its Chief Marketing Officer. Read more

Jaipur's Local Self Government (LSG) department will form a Heritage Development Council to restore and preserve the ancient havelis in the Shekhawati region. The council will work towards the conservation, maintenance and regulation of the heritage structures and private havelis in the region. Read more

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