Sector 10 Property

The Ministry of Housing and Urban Affairs has selected Shillong as the 100th city to receive funding under the Centre's flagship Smart Cities Mission after evaluation of the proposal submitted by it. Earlier, nine names were added in the smart cities list in January. These cities were Biharsharif (Bihar), Diu (Daman & Diu), Erode (Tamil Nadu), Itanagar (Arunachal Pradesh), Kavaratti (Lakshwadeep) and Bareilly, Moradabad & Saharanpur (Uttar Pradesh). The list now has a total 99 cities to be developed as smart ones.

The Allahabad High Court has ordered to stop the construction work at Noida Sector 77 project, Express Zenith till July 10. The order has come on the basis of an appeal made by one of the homebuyers alleging that the builder has constructed floors beyond the permitted limit sanctioned by the Noida Authority.

Upping its ante against use of plastic, the Brihanmumbai Municipal Corporation has decided to impose a fine of up to Rs 10,000 from June 23 on those who are found to use plastic bags. While you may have to pay a fine of up to Rs 5,000 for your first offence, a repeat of the offence would cost you twice the amount as penalty.

The affordable housing segment will get a boost with the Reserve Bank of India on June 6 raising the loan limits under priority sector lending. The RBI has decided to revise the housing loan limits for PSL eligibility from Rs 28 lakh to Rs 35 lakh in metropolitan centres and from Rs 20 lakh to Rs 25 lakh in other centres.

In order to become a debt-free company, real estate major DLF is planning to launch qualitative institutional placement (QIP) by June. The company will be raising up to Rs 4,500 crore by issuing about 17.3 crore shares through the sale of shares to institutional investors. The money so raised will be used to repay loans.