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Category: Mumbai

High Court

A society which has taken on the redevelopment under RERA is not liable for free sale flats.

October 30, 2019

The High Court of Bombay said that a housing society that terminated their redevelopment agreement with a developer due to delay and then took over redevelopment through judicial decisions cannot be held liable, under RERA, as a ‘promoter’ for buyers that have reserved free sale flat. Justice S C Gupte nullified an order from the City Court […]

A society which has taken on the redevelopment under RERA is not liable for free sale flats.more
Real Estate Investors

GVK receives more than Rs 7,600 crore from its investors, plans to cut off the company’s debts.

October 29, 2019

The GVK Group has announced that it has raised more than Rs 7,600 crore from its stakeholders’ and the proceeds will be used for debt reduction and acquisition of 23.5% stake in the Mumbai International Airport (MIAL). This should prevent the bid of the Adani Group to acquire a stake in the company which operates […]

GVK receives more than Rs 7,600 crore from its investors, plans to cut off the company’s debts.more
RERA Act

Real Estate Websites have to register with MahaRERA in next 2 months.

October 18, 2019

Property Websites that go beyond advertisements and allow developers and home buyers to sell/purchase must be registered with the Maharashtra Real Estate Regulatory Authority (MahaRERA) within the next two months. The housing authorities have determined that such websites could be defined as real estate agents. In a recent order, the regulatory officer has indicated that portals […]

Real Estate Websites have to register with MahaRERA in next 2 months.more
Supreme court

Supreme Court rejects depositors’ plea for increasing withdrawals limit on PMC bank.

On 18 October 2019, the Supreme Court refused to entertain a plea filed on behalf of scam-hit bank account holders Punjab and Maharashtra Cooperative (PMC), seeking to lift restrictions imposed on cash withdrawals by the Reserve Bank of India (RBI). The petitioner Bejon Kumar Mishra told the lawyer Shashank Sudhi to file his petition on […]

Supreme Court rejects depositors’ plea for increasing withdrawals limit on PMC bank.more
Property Auction

IOB will e-auction more than 500 properties spread across different cities.

October 17, 2019

More than 500 properties worth over Rs 800 crore located in Chennai, Coimbatore, Mumbai, Kolkata, Delhi, Bengaluru and Hyderabad will be sold through digital auction by the public sector bank India Overseas Bank (IOB). On 21 October 2019 and 30 October 2019, the mega e-auction will take place. For the e-auction, the public sector bank has associated with […]

IOB will e-auction more than 500 properties spread across different cities.more
Aadhaar

UIDAI approach to link property with Aadhaar number to prevent black money, Delhi HC seeks clarification.

October 16, 2019

On October 15, the Delhi High Court sought the Unique Identification Authority of India (UIDAI) response on the demand to link movable and immovable property documents with the Aadhaar number to prevent corruption, black money and benami transactions. UIDAI, which issues a 12-digit unique identification number called Adhaar, received a notice from a bench of […]

UIDAI approach to link property with Aadhaar number to prevent black money, Delhi HC seeks clarification.more
Developer reducing in India

Southern Cities experienced a decline in residential demand, whereas Mumbai and Pune saw a 33% increase during the same period.

Unlike before, the heat of the total residential slowdown in 2019 begins to feel in the resilient markets of South India according to a report. According to recent research by ANAROCK, in the first three-quarters of 2019 residential sales dropped by 5% compared to the corresponding period in 2018 in Bengaluru, Hyderabad and Chennai. Whereas, The Western […]

Southern Cities experienced a decline in residential demand, whereas Mumbai and Pune saw a 33% increase during the same period.more
MahaRERA

MahaRERA declares SROs to be registered by the realty developers and project promoters.

October 15, 2019

The Maharashtra Real Estate Regulatory Authority has proposed registering realty developers and project promoters Self-Regulatory Organization (SROs) along with the authority. According to the regulator, this will help improve the integrity of property builders, strengthen their practices, uphold the code of conduct and prevent dishonest promoters. The regulator specified in a circular, SRO registration shall be […]

MahaRERA declares SROs to be registered by the realty developers and project promoters.more
RBI

RBI reviews the ongoing slowdown and the economic situation happening in various sectors.

October 12, 2019

On Friday, the Central Board of the Reserve Bank of India (RBI) reviewed the current economic situation, international and domestic problems and various fields of activity. The analysis is taking place in the midst of a more marked economic slowdown and recent PMC loan manipulations flagging a new threat to banking governance and NPA frauds. […]

RBI reviews the ongoing slowdown and the economic situation happening in various sectors.more


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