Top 5 Stories of the week - 23rd July 2021 | Construction World

HERE ARE THE TOP 5 STORIES OF THE WEEK:

NAREDCO demands one-time loan restructuring for stuck realty projects.
National Real Estate Development Council (NAREDCO) has urged the government for a one-time restructuring of loans and last-mile funding for stalled realty projects to rescue the real estate sector from the liquidity crisis caused by Covid 19.

Karnataka enters pact with 23 firms for Rs 28k cr infra investments.
The Karnataka government has entered an agreement with 23 companies, including 12 multinational companies, for investments of around Rs 28,000 crore. During the beginning of the pandemic, the government cleared over 520 industrial projects, including the MoUs signed with the 23 companies, with a total of Rs 77,000 crore investments in multiple sectors.

Tamil Nadu to set up flying squads to monitor under construction buildings.
Tamil Nadu's housing and urban development minister S Muthusamy told the media that the state will form flying squads to inspect buildings under construction to ensure that the layout and approval are correct. According to the minister, if there are any flaws, they will be addressed as soon as possible based on the flying squad's reports.

Hyderabad emerges as real estate investment hub for NRIs.
Abhishek Chanda, Director, Vasavi Group, said that the Hyderabad construction and real estate sector is the most suitable investment option for NRIs, with greater Return on Investment (ROI) varying between 12 to 20% annually.

Tamil Nadu govt gets Rs 28,508 cr via companies for 49 projects.
The Tamil Nadu government, through companies, received Rs 28,508 crore for 49 projects that are expected to provide job opportunities to 83,482 people. The investments are in the power plant, electronics, industrial parks, auto-components, IT and ITeS services, manufacturing, food processor, pharmaceuticals, footwear, and textiles.

That’s all for this week, stay tuned at www.constructionworld.in for more updates.