The Finance Minister seems to be getting more appreciation than brickbats for renewing focus on the housing needs of Aam Aadmi. Even the real estate sector is divided and while the long awaited demands have not been fulfilled, a section of the realtors with affordable housing projects have appreciated the efforts.
US billionaire real estate developer Donald Trump is finally making a serious move to transform the skyline of India’s financial capital, Mumbai. Trump is now planning to develop a super luxury 60-storey tall “condo” in south Mumbai. The Trump Tower is expected to be launched next month and is believed to have 45 flats across 60 floors, most of which will have one flat for every floor.
There will be significant changes in term of the redevelopment of Mumbai seafront with the revamping of the Coastal Regulation Zone norms that direct construction in these areas. Numerous old structures and unregulated residential developments that have been awaiting this signal in the areas in question will now be redeveloped.
Kumari Selja, Union Minister of Housing and Urban Poverty Alleviation & Minister of Tourism, has categorically blamed the banks for not facilitating the affordable housing. Inaugurating the 10th National Convention of National Real Estate Development Council (NAREDCO) at New Delhi the minister said the housing finance sector has witnessed a boom in the recent past due to favorable government policies.