#RealtyNewsRoundUp: Pakistani Hindus Can Now Invest In Indian Real Estate

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

The Prime Minister Narendra Modi-led government at the Centre plans to offer special facilities for people belonging to the minority community of Pakistan, including Pakistani Hindus. The facilities include invest in property in India, stay in India on a Long-Term Visa, open bank accounts and get PAN (permanent account number) and Aadhaar cards. Although the exact number of minority refugees from Pakistan, Bangladesh and Afghanistan living in India is unknown, according to rough official estimates there are around two lakh such people, mostly Hindus and Sikhs. The government, also, plans to simplify the process for granting Indian citizenship and lower the fees from Rs 15,000 to a mere Rs 100. Read more

The Haryana state government has introduced the Affordable Plotted Housing Policy 2016 for low and medium potential towns under the Deen Dayal Jan Awas Yojna. According the official spokesperson of Haryana Town and Country Planning Department, the policy will help create additional affordable housing stock in the low and medium potential towns. The minimum and maximum net planned area for such projects would be five and 15 acres, respectively and less than ten per cent of the licensed area would fall under sector roads. Read more

To avert a drought-like situation, the Noida Authority plans to draw a masterplan to recharge Noida's groundwater for the next 30 years. The Authority will initiate a Request For Proposal (RFP) to select a consultant, who will conduct a survey of the city before submitting a proposal. According to the Central Ground Water Authority (CGWA), the groundwater level in Noida is under stress and has reached critical dimensions, which means the city could face a serious water shortage in coming years unless its groundwater is sufficiently recharged. The Authority is keeping an eye on water levels in Noida and especially on how developers source their water for construction purposes.  Read more

The Samajwadi Party-led state government in Uttar Pradesh has ordered strict action against defaulting developers in Noida, in the wake of complaints by home buyers. Over 4,000 home buyers are suffering due to project delays. Read more