Hi guys, and welcome back to the weekly news roundup, where we talk about the current news in the real estate industry.
So let’s begin!
- Starting with the RBI policy changes. RBI cut the Key Repo rate by 0.25% to 6.25%. The central bank also changed its monetary policy stance to ‘neutral’ from the earlier ‘calibrated tightening’, indicating further relaxing on its approach towards interest rates.
- Next update on Reliance Industries. To expand the presence in the e-commerce and communication segment, Reliance Industries is planning to invest an additional INR 10,000 crores in West Bengal
- Update on highways in India. Under the Bharatmala Pariyojana programme, 65,000 km of highways to be built across the country by 2022, at the cost of over INR 5.35 lakh crores, said Nitin Gadkari, Road Transport Minister.
- Development on Bullet train project. At Navsari in Gujarat, more than 800 farmers protested against the land acquisition for Mumbai-Ahmadabad bullet train project, demanding better compensation and not as per the official rate fixed by the government.
- Last but not the least, The DDA has announced that it will launch an online portal in New Delhi by union housing and urban affairs minister Hardeep Puri, for all processes of the land pooling policy, such as receiving of applications to grant of sanctions, on February 5, 2019.
That’s all for this week, we’ll come back next week with fresh updates. Until then stay updated and keep enjoying snowfall in Delhi!