#RealtyNewsRoundup: Prefabricated Building Tech Will Solve Housing Problem: Naidu

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

Urban Development Minister M Venkaiah Naidu has said speedy, safe and sustainable construction using prefabricated alternative technologies is the need of the hour to meet the housing targets under the Pradhan Mantri Awas Yojana. In this regard, the Ministry of Housing and Urban Poverty Alleviation has directed the Central Public Works Department, the Delhi Development Authority and the National Buildings Construction Corporation to adopt alternative technologies for projects worth Rs 100 crore each and above.

Delhi Lieutenant Governor Najeeb Jung has asked the state government to rescind its August 4, 2015-notification in which circle rates of agricultural lands were revised without his approval. The withdrawal of the notification would result in the 2008 circle rates on land transactions kicking in. The per acre rate under that was Rs 53 lakh. But the AAP government had, in its first Budget, hiked the rates in a range of Rs 1 crore to Rs 3.5 crore per acre.

Property developer Embassy Group has tied up with Hilton Hotels to develop the country's largest twin hotel in Bengaluru with a total investment of over Rs 1,000 crore. The 586-room, dual-branded hotel to be located within the Manyata Embassy Business Park will include two hotels — a 250-room Hilton Hotels & Resorts brand hotel and a 336-room Hilton Garden Inn brand hotel.

The government has asked late Congress leader and former Lok Sabha speaker PA Sangma's family to vacate the 34, APJ Abdul Kalam Road bungalow, which may become the new address of President Pranab Mukherjee after his tenure gets over in July next year. Currently, Sangma's son Conrad, who is Lok Sabha MP, is occupying the type-VIII Bungalow.

Source: Media reports