Hey guys! Welcome to another weekly news roundup. Let’s see what’s brewing in the real estate sector!
According to the report by Anarock, in the last two years the unsold housing inventory in Gurugram rose over 10%, i.e., from 51,220 units in the second quarter of 2017 to 56,550), whereas there has been a decline in stocks in other parts of the NCR.
With an annual capital value growth of 4.4% in the second quarter of 2019, New Delhi became the 10th fastest growing prime market in the world. Bengaluru and Mumbai ranked 15th and 30th on the list, respectively as per Knight Frank’s Prime Global Cities Index.
The pan-India homebuyers’ body Forum for People’s Collective Efforts has approached the PM’s office to order forensic audits of all the housing projects that have been delayed for more than 3 years across the country.
The City and Industrial Development Corporation (CIDCO) has cleared plans for 94,000 low-cost homes in Navi Mumbai. A total of Rs 19,000 crores has been approved for this purpose.
In an attempt to reduce traffic in Mumbai the Maharashtra cabinet has approved Rs 891 crores, to implement an intelligent traffic management system (ITMS) project in the city
That was all for this week, we’ll be back next week with another set of weekly news roundup until then stay updated and Pray for Amazon.