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Hyderabad to get India's largest office space Telangana's largest industrial house My Home Group has teamed up with office space specialists RMZ group to build a 10million sq ft property in Hyderabad. The more than 6,550-crore ($1billion) office-space project, touted as the country's largest, is coming up on a 10-acre piece of land in Hyderabad's upmarket Hitec City. The two companies will contribute equally towards the project cost, said two persons in the know. “It is the largest office project in the country so far,” said global property consultant Cushman & Wakefield's Hyderabad managing director Veera Babu. My Home and RMZ did not respond to ET's queries seeking details on the transaction. However, another property consultant said, “My Home Group, the cement to construction conglomerate, was in talks with some of India's largest real estate players with specialisation in office space for this project and has finally frozen the joint ven...

Why is everyone talking about affordable housing?  Urbanisation and housing reveal a nation’s economic growth and social wellbeing. India’s urban population is growing at an average 2.1% every year since 2015. It is likely to reach 60 crore by 2031 (up from 37.7 crore today). But the growth in housing has been unable to keep pace. Currently, the housing shortage in India is close to 1.9 crore units. The economically weaker sections (EWSs) and lower-income groups (LIGs) account for 96% of the urban shortage.  Government thrust on affordable housing   The Government of India has recognised the need to fill the gap in urban housing. Large-scale housing projects that are affordable are sure to help. So, the government announced an ambitious project. It seeks to provide ‘Housing for All by 2020’. It has taken many initiatives to make this a reality. For example, it facilitated a 4% interest rate rebate on housing loans of up to Rs 9 lakh. The rebate stands at 3% ...