Ahmedabad
State Bank of India (SBI) and Finance Ministry (MoF) are exploring for a legal frame where the suggested Alternative Investment Fund (AIF) for strengthening delayed housing projects will have the first charge on assets and cash flow of companies getting funding. That will finance 1,600 delayed housing projects carrying 4,58,000 housing units across the country. [...] Continue Reading »
A day after declaring Rs 25,000 crore Alternative Investment Fund (AIF) for stalled housing projects by FM Nirmala Sitharaman, has made it clear that residential housing projects facing litigation in High and Supreme Court will not be cover under this funding plan. At the same time, the government suggested homebuyers to interact with lenders for [...] Continue Reading »
Providing relief to lakhs of homebuyers, FM Nirmala Sitharaman announced an alternative investment fund of Rs 25 crore to help the real estate sector for 1,600 stalled housing projects covering 4.58 lakh units. Government’s aim to give incentive to the real estate market to improve. The decision was approved by the Union Cabinet at a [...] Continue Reading »
Depressed with builders, the regulators are possible to seek more power under the law to enable them to attach unsold inventories of builders to make them come in line and find directions to finish projects. RERA Authorities from across states have come together in Lucknow and push for revisions in the Real Estate Regulation and [...] Continue Reading »
Work on the Ahmedabad-Gandhinagar Metro rail project will commence soon. The 10,000 crore project is an ambitious development and is currently awaiting approval from the Centre, Anandiben Patel, the Chief Minister of Gujarat observed. She was speaking at inaugural function of Mega industrial exhibition being held by Vadodara Chamber of Commerce and Industries being held [...] Continue Reading »
On Tuesday, Hilton Worldwide said in an announcement that it has signed a management deal with Hirise Hospitality Pvt Ltd. The deal pertains to a new ‘DoubleTree’ hotel by Hilton Ahmedabad. According to the details shared by Hilton in a recent statement, DoubleTree will be a 178-room hotel. It will feature distinctive conference and event [...] Continue Reading »
On Wednesday, notices were issued by the Allahabad High Court to three senior Noida officials, on a contempt petition filed by Brahma Pal, a farmer of Patwari village whose land was acquired in 2008. The three Noida officials to whom notices have been issued include A V Rajamouli, district magistrate of Gautam Budh Nagar; Shishir [...] Continue Reading »
In a move which marks a noteworthy advancement with regard to the Metro-Link Express for Gandhinagar and Ahmedabad (MEGA) project, the Japan International Co-operation Agency (JICA) has decided to conduct the second and final assessment on different technical and financial parameters of the project at the end of July. In an initial appraisal of the [...] Continue Reading »
The government is considering a proposal to sell off the real estate owned by the sick public sector companies in Mumbai, Kolkata, Pune and Ahmedabad to state-owned National Buildings and Construction Corporation (NBCC Ltd). The government wants to sell off the housing dwellings owned by these loss making units before selling off the chronically loss-making [...] Continue Reading »
Ahmedabad Municipal Corporation (AMC) has revealed in a recent announcement that it has plans underway to construct 10,000 houses for economically weaker sections (EWS) and Low Income Group (LIG) categories in the city, after the first draw. Similar to the other bids for housing in the city, the 10,000 housing units for EWS and LIG [...] Continue Reading »
