#RealtyNewsRoundup: RBI Enhances Housing-Loan Limit Under Priority Sector Lending
Description
The Reserve Bank of India (RBI) has directed banks to increase the housing loan limits for eligibility under the priority-sector lending (PSL) to Rs 35 lakh in metros and Rs 25 lakh in other centres. The move is aimed at bringing rural reserve banks (RRBs) and small finance banks (SFBs) on a par with other scheduled commercial banks. Earlier, loans of up to Rs 28 lakh in metro cities and Rs 20 lakh in other centres were elegible under the priority sector.
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The Uttar Pradesh Regulatory Authority (UP-RERA) on May 6 announced that it will hear cases filed against unregistered projects in Noida and Greater Noida. These cases were earlier heard by the secretary of the UP-RERA, which would be later taken up before the benches after getting the registration formalities done.
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Private equity investment in residential real estate market declined by 60 per cent in 2018, says a study by one of India’s real estate advisories. According to the study, PE investment in the country’s residential real estate stood at $266 million in 2018, as against $668 million in 2017.
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The demand for commercial spaces in Asian cities central business districts was driven by technology, media and telecoms (TMT) groups and flexible workspace operators in 2017-2018, says a report by global property consultant. TMT groups now occupy about 18 per cent of prime office space in Asian CBDs, and flexible workspace 4-5 per cent, says the report.
Source: Media reports