VIJAYAWADA: In a recent ruling, the high court reprimanded Canara Bank employees for forfeiting money without obeying the rules when it came to property sales consideration. The high court stated that banks and financial institutions should operate fairly and strictly in accordance with the law regulations when trying to recover their money, noting that they […]
Banks shouldn’t behave like real estate agents, claims HCmore
In order to help new financiers revive struggling housing developments that have left millions of homebuyers throughout the nation in the dark, several high-street banks will waive their first claims to assets and cash flow. Several of the bank CEOs and other industry leaders who spoke about the issue a week ago were willing to […]
Banks might relinquish the right to restart housing projects.more
PUNE: No new real estate project shall be registered by Maharashtra Real Estate Regulatory Authority (MahaRERA) until the beginning certificate has been approved by the regional planning authority. The deadline for local authorities—corporations, councils, Nagar panchayats, and metropolitan planning authorities—to connect their websites with MahaRERA or send independent emails regarding project registrations was June 19. […]
For projects to be registered, starting certifications must be verified: MahaRERAmore
PUNE: Since the city authority has sealed over 400 such structures since May of this year, residents who have not paid their property taxes for a number of years may lose their homes. “Notices were sent to the property’s owners and occupants, reminding them of the payment.” However, despite repeated summons, they have not paid […]
400 buildings in Pune have been sealed because of unpaid property taxes.more MUMBAI: A MahaRERA order from 2021 that barred homebuyers from receiving interest retroactive to the date of their payments as well as a refund for other payments, such as stamp duties and registration fees, was modified by the Maharashtra Real Estate Tribunal (MREAT). The MREAT directed an Andheri-based developer to pay interest on the amount […]
The MahaRERA ruling is modified by MREAT, who also instructs the builder to pay interest going forward.more
JAIPUR: A developer has filed a complaint with the Rajasthan RERA court against the presiding officer. He has been accused of partiality and favoritism by the developer. As a result of this complaint, the RERA court found the developer to be non-compliant for failing to obey its orders. All directors of the builder group, as […]
A developer in Jaipur has accused a Rajasthan RERA judge of favouritism.more
LUCKNOW: Together with the power department, the Lucknow Municipal Corporation has developed a strategy plan to improve property tax collection. The effort put forth by the city’s mayor, Sushma Kharakwal, intends to uncover any discrepancies between household data and records of electricity connections in order to bring unregistered houses into the tax system. LMC mainly […]
To collect property taxes, the Lucknow civic government works with the electrical department.more Despite multiple difficulties, including numerous unhappy homebuyers, the insolvency and bankruptcy proceedings of real estate enterprises have seen consistent progress in terms of remedies. Experts predicted that the performance would increase if the government changed the code to allow for resolution based on the type of projects being undertaken rather than imposing a single, strict […]
62% of instances involving real estate insolvency have a successful conclusion.more PUNE: According to a MahaRERA official, developers of 39 real estate projects in Pune have requested to be deregistered. Developers from all over the state who are unable to move further with the projects owing to financial constraints, legal issues, changes in government planning authorities, or other factors have submitted a total of 88 applications […]
39 real estate projects in Pune submit deregistration requests.more
One of the largest alternative asset management companies in the world, Brookfield, administers office parks and buildings totaling 18.7 million square feet (1.7 million square meters) in cities including Mumbai, Kolkata, and Gurugram close to New Delhi. Accenture, Amazon, and Samsung Electronics are some of its tenants. NEW DELHI: According to three sources with direct […]
A $400 million offering is planned for July by Brookfield India REIT, according to sources.more