#RealtyNewsRoundUp: RERA Will Eventually Cover All Projects, Says Puri
Description
Housing Minister Hardeep Singh Puri has said that all real estate projects would eventually come under the ambit of the Real Estate (Regulation & Development) Act, 2016, once states are ready with the infrastructure.
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Dissatisfied with the success of the marginal cost of funds-based lending rate (MCLR) regime, the Reserve Bank of India is considering scrapping it. With an aim to improve policy transmission, the RBI had launched the MCLR regime in April 2016.
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In an attempt to decongest the city, the Urban Development Department has relaxed curbs imposed on buildable area for plots in Mumbai on the basis of road width. The narrower the road, the less would be the vertical limits for development along it. The new regulations are expected to kick in from next week.
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Maharashtra Chief Minister Devendra Fadnavis has approved the construction of several projects projects, including the Bandra-Versova sea link, a new lane on the Mumbai-Pune Expressway and third bridge on Thane creek at Vashi. The Bandra-Versova sea link will be thrice the length of the present Bandra-Worli sea link.
Source: Media reports