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Smart Cities Mission (SCM)

Smart Cities: The Next Digital Frontier for India – RealtyMyths

by Akhilesh K Prasad The government of India launched its Smart Cities Mission (SCM) in June 2015 amidst much fanfare. The objective of the project was to promote sustainable and inclusive cities that provide core infrastructure, give a decent quality of life to its citizens, and a clean and sustainable environment with the application of ‘Smart Solutions’ for convenience. Thus the thrust is on making the country digitally empowered by improving infrastructure for the delivery of services online.  Digitization goes beyond simple automation and modernization. It refers to the development, operation and maintenance of background technological environment including the infrastructure within government organizations. With the adoption of smart technologies, Smart Cities are said to be the digi...

100% Foreign Direct Investment in Real Estate

Akhilesh K Prasad Earlier this year, the Union Cabinet approved 100% Foreign Direct Investment (FDI) under the automatic route in the construction development segment, which includes townships, housing, built-up infrastructure and real-estate broking service. It was also clarified that real-estate broking service did not amount to real-estate business and was, therefore, eligible for 100% FDI. This essentially means that foreign funding channels won’t be required to take government approval to invest in the construction development segment. The government’s decision couldn’t have come at a better time as the real-estate sector has been battling a crisis for want of funds which has subsequently stalled many projects. Moreover, the sector is now poised for growth after a prolonged dull perio...

Dumdaar December – Real estate rewind 2017

2017 was not less than a roller coaster ride for the real estate sector. Before flying into 2018, let’s peek into a year which was perhaps filled with uncertainty, volatility and long-term promise of new opportunities. Let’s look at RM top stories for the month of December which got maximum eyeballs. DECEMBER 2017 Affordable Housing: Will the trend continue in 2018? GOI launched its “Housing for all by 2022” scheme under the Pradhan Mantri Awas Yojana (PMAY) in June 2015. 2017: The Government Announcements that Mattered! As the year draws to a close, round-up of eight government announcements that mattered to the real estate sector: GST & RERA making Indian real estate more organized: Tanuj Shori, CEO, Square Yards Tanuj Shori, Founder, and CEO, SquareYards,  is steadily building a hig...

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