#RealtyNewsRoundup: Ministry Proposes Incentives For Local Banks To Achieve Rural Housing Target

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

In a bid to give a leg-up to the rural housing targets, the rural development ministry has proposed that local housing banks be incentivised through credit guarantee and stamp duty exemption to provide loans to beneficiaries of rural housing programme. These incentives will be over and above the government allocation to achieve the goal of housing for all. The government has set a target of building 30 million houses under its rural housing scheme in the next seven years. Read more

Tata Steel has received the final environment clearance for its Rs 1,877 crore expansion project to be carried out at Jamshedpur Steel Works in Jharkhand. The clearance, which was issued on Tuesday (March 1), has been given to the company subject to strict compliance to specific and general conditions. It has been asked to develop green belt in more than 33 per cent of the area within and around the plant as per the Central Pollution Control Board guidelines. Read more

The construction work on the 166-metre long 'Sudama Setu', a cable-stayed hanging pedestrian bridge over the Gomti river in Gujarat's Dwarka is complete. The new bridge will help thousands of devotees visiting the Dwarkadheesh's Jagat Mandir and Panchnad Tirth easily. Earlier, the visitors have been using boats to cross the river. Built by Reliance Industries, in collaboration with the Gujarat government, the bridge will help develop Dwarka as a heritage city. Read more

Now, some news about high net worth Indians. According report Knight Frank Global Wealth 2016, Indians are getting wealthier and the growth in number billionaires is outpacing even the global average. India has witnessed over four times or 330 per cent jump in the number of billionaires in past 10 years as against 68 per cent rise noted globally, said the report. The trend is expected to continue with number of Indian billionaires doubling over the next decade, while global number could rise by 44 per cent. Read more