Realty News Roundup: Land Pooling Policy Impacts Property Rates In Delhi; Sobha & Chintels Join Hands To Develop Residential Project In Gurgaon

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

Top News

Implementation of the Centre's Land Pooling Policy has led to flats in Delhi being sold for Rs 3,200 per sq ft. Developers are selling these flats near IGI Airport. After the operational guidelines of the policy were announced in May this year, the number of affordable residential projects went up in areas including Najafgarh, Ghummanhera, Chhawla, Hassanpur, among others. Read more

Ltd and India join hands to develop a residential project worth Rs 1,000 crore in Gurgaon. The project, which will have 1,700 flats, will be developed in a period of seven years on a 39 acre plot. Read more

The Centre hopes to see the amended Realty Bill being passed in the winter session of Parliament, after the cabinet's approval. The Housing and Urban Poverty Alleviation (HUPA) Ministry had recently accepted the recommendations made by the Rajya Sabha Select Committee's report. Read more

Off the frontpage

Tata Housing and Neptune to jointly develop a 10-acre residential project in Bhandup, Mumbai. Under the agreement, Neptune will provide land while Tata Housing will market the project, which is expected to be completed in four years. Read more

The Centre has amended investments regulations to attract larger foreign inflows in Alternative Investment Funds (AIFs), Infrastructure Investment Trusts and Real Estate Investment Trusts. Investments will be allowed under the automatic route and without the Foreign Investment Promotion Board (FIPB) approval. Thus, making investment procedures for non-resident Indians (NRIs) and foreigners more complacent. Read more