Weekly News Roundup (23 July 2016) – Real Estate News Under 100 Words

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India’s real estate sector is again emerging as key hub for investment: CBRE
The demand for office space, he said, is coming from the IT and BPO sectors as well as from banking, financial services and insurance (BFSI), pharma, engineering and automotive segments. Read more

Indian real estate takes smart turn to affordable housing
The objective is to make homes that are cost effective and affordable but not at the cost of quality of living it offers but by smart planning. Smartly designed and planned affordable homes are high on amenities and offerings but low on cost. Read more

Landowner who signs MOU with builder is consumer, can demand compensation
A bench headed by Justice Dipak Misra gave the judgement on a petition filed by a Hyderabad-based resident – Bunga Daniel Babu – who signed an agreement with a firm in July 2004 for constructing a multi-storied building comprising of five floors, with elevator facility and parking space. Read more

Realty to be $180 billion industry in India by 2020: NHB official
On the basis of the Smart City projects, land record digitisation, withdrawal of corporate tax from REIT structure, the real estate sector growth is bound to attract funds and confidence of the investors as well in a big way. Read more

Stability returns, courtesy government policies
This revival process was catalysed by the record budgetary allocation of Rs 2.21 lakh crore towards infrastructure development, tax exemption for reinforcement of affordable housing and introduction of REITs. Read more

860 projects approved involving construction of 7.28 lakh units
These projects involved construction of 7,28,840 houses for the slum dwellers and urban poor, but only 19,255 units were completed and as many as 1,07,687 houses were under construction. Read more

MUDA flats (Karnataka): applications to be invited soon
The apartments will come up in different residential areas of the city where MUDA has vacant plots, and the plan is to construct 1 BHK and 2 BHK apartments for the middle and lower-middle income category. Read more

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