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This is an archive article published on September 1, 2012

City Lights: HUDCO re-enters home loan business

HUDCO re-enters home loan business

HUDCO re-enters home loan business

State-run Housing and Urban Development Corporation (HUDCO) said it has restarted lending for home purchases by launching a “competitively” priced product. The corporation,mandated with affordable housing and urban development,will be offering home loans at a floating rate of 10.20 per cent for loans up to Rs 25 lakh. HUDCO loans will also offer other features like free personal accident insurance,no charges before sanction,and no pre-payment charges. In addition,there will be no processing fees till the sanction of the loan.

CIDCO to build 1,145 tenements in Aurangabad

The Maharashtra government-owned City and Industrial Development Corporation (CIDCO) will spend Rs 125 crore to build 1,145 tenements in Waluj area of Aurangabad city. The project is aimed at providing houses to middle class families in the town.

Majority of cities yet to develop master plan

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Only 24 per cent of over 7,000 cities and towns in the country have developed their master plans,the Union urban development ministry said and has asked them to expedite the process of preparing documents to infuse more development. The ministry also said the process of developing a geographical information systems (GIS) database for select 152 towns and cities across the country is on and that satellite image for all these places have been procured.

Gurgaon to see 12 new residential,commercial and industrial sectors

Seven new residential sectors,three small commercial belts and two industrial sectors would come up at Gurgaon under a Draft Development Plan for Gurgaon-Manesar Urban Complex-2031 that has been approved by the Haryana government. The plan has been prepared for a projected population of 42.35 lakh by 2031. As per the plan,the land use of about 1,179 hectares on the western side of Kundli-Manesar-Palwal Expressway had been changed from industrial to agriculture zone,with prohibition on grant of any Change of Land Use (CLU) permission or of licence. Besides,public,semi-public and open space zones have also been earmarked. In Sector 68,about 50 hectares of land has been added with assigned density of 1,125 persons per hectare for providing affordable housing to Lower Income Group and Middle Income Group population.

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