Daily Real Estate News Digest (24th July 2018)

One crore houses to be built under PMAY-Gramin by 2019: Ram Kripal Yadav

The government has set a target for constructing one crore houses under the Pradhan Mantri Awaas Yojna-Gramin by 2019, Minister of State for Rural Development said.

ET Realty

Maharashtra: Skip general body meetings, lose housing society rights

The state commissioner for cooperation and registrar of cooperative societies issued to all the divisional and district deputy registrar of cooperative housing societies asking for such habitually absent members as ‘inactive’. The order says that any member, who continues to skip the general body meetings for five consecutive years, will also lose the right to cast his vote during society elections as well as the right to contest the election.

ET Realty

ACC India moves Bombay HC against Tata-Capacite Infra over BDD chawl redevelopment bid

ACC challenged as ‘illegal and arbitrary’, the actions of the state government and Mhada in selecting the consortium of Capacit’e Infraprojects Ltd, Tata Projects Ltd and Citic Construction Company of China. The petition, which came up in court last week, said the challenge is because of ‘clear proof’ that the winning bidders ‘do not fulfil the eligibility criteria of having technical capacity and experience to undertake the project’.

ET Realty

Piramal Capital and Housing Finance invests Rs 650 crore in SAMHI Hotels

Piramal Capital and Housing Finance have announced an investment of Rs 650 crore in Gurgaon based hotel development firm SAMHI Hotels. SAMHI owns 29 hotels and is backed by Goldman Sachs. PCHFL said the structured debt investment will allow SAMHI to refinance existing lenders across three assets including The Courtyard and Fairfield by Marriott in Bangalore, the Sheraton in Hyderabad and Hyatt Regency in Pune.

ET Realty

Tamil Nadu govt okays revision of property tax in urban local bodies

Following a court directive, the Tamil Nadu government has given its nod to urban local bodies — the Greater Chennai Corporation, 11 other municipal corporations, 124 municipalities and 528 town panchayats — to take up general revision of property tax with effect from current half-year.

ET Realty

Tagon launches app for real estate

Tagon Software Technologies, part of Polar IT Group, Hyderabad launched its real estate application Goldpillar to create flexible, user-friendly, and easy to operate the platform for real estate customers and service providers. It enables the customer to post their real estate needs and receive faster help at customer’s choice and users can list their properties and get it in front of the large volume of direct customers instantly.

Telangana Today

KKR to Invest Rs 1,800 crore in Mumbai’s 3 realty projects

KKR & Co is stepping up its presence in the Indian real estate space with a debt financing of Rs 1,800 crore in three mid-market real estate projects in Mumbai.

Economics Times

Ruparel to develop 7,500 affordable flats in Mumbai by 2022

Ruparel Realty will provide 7,500 affordable flats to the citizens of megapolis by 2022. The firm, which has already provided 1,025 affordable apartments since its inception in 2000, is currently developing these new projects in different areas of the city

Business Line

Amila group to invest Rs 700 cr on Shimla housing project

Amila Group will invest about Rs. 700 crore over the next 8 years to develop a luxury housing project in Shimla.

Times of India

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