#RealtyNewsRoundup: RCOM Sells 150 Flats Worth Rs 330 Cr In Navi Mumbai

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

Top News

According to an official statement released by Reliance Communication (RCOM), the company has sold about 150 residential flats in Navi Mumbai worth Rs 330 crore. The money will be used to repay debts. The company also said that it had already received more than 50 per cent of the sale proceeds and will get the remaining amount by the end of financial year of 2016. Read more

The Centre plans to award highways development projects worth Rs 28,000 crore in 2016. Once the projects are awarded, this will be the largest investment made in this sector under the public private partnership (PPP) mode since 2010. The total number projects awarded will 21. Read more

Off the frontpage

K J George, City Development Minister of Bengaluru, said he will make the Bangalore Development Authority (BDA) more technically viable by computerising all the records and bringing more transparency. He also said he held a meeting with the officials of the BDA and has briefed them on how the organisation was going about the allotment process for the Kempegowda layout near Magadi Road. Read more

The New Delhi Municipal Council (NDMC), which will be presenting its budget next month, has some incomplete projects that exist only on papers. The budget estimate of the previous financial year (2015-16) had an expenditure worth Rs 3,126 crore and receipt of Rs 3,153 crore, making a surplus of Rs 27 crore. However, the budget announcements failed to take off the ground. Read more