Homebuyers opposed the central government’s ordinance to amend the Insolvency & Bankruptcy Code (IBC) 2016 and demanded a stay of the operation of Section 3 of the Insolvency and Bankruptcy Code (Amendment) 2019, which aims to modify Section 7 of the IBC. “The writ petition is filed by 11 petitioners from 11 different projects, including […]
Homebuyers filed a writ petition in SC challenging IBC amendment.more
According to the London-based real estate consultancy Knight Frank annual report, Housing sales in Delhi-NCR saw 5% YOY growth and new residential launches increased by 45% in 2019 compared to 2018. The report stated that the period from 2016 to 2019 was the transitional period, when policy changes such as the Real Estate (Regulation and […]
Knight Frank Report: NCR witnessed a 45% rise in new residential launches in 2019.more
On December 30th, Fitch Solutions said it expects the residential and non-residential building sector of the country to grow by 6.6% in 2020, led by fiscal support and increased focus on providing affordable housing in urban areas. “A mix of tax support and government policies supporting the housings market, and enhanced activity within the logistics, […]
Real Estate Sector Forecast: Residential and Non-Residential construction is likely to grow in India.more
Under Section 7 of the Insolvency and Bankruptcy Code 2016, the National Company Law Tribunal (NCLT) started a procedure for corporate insolvency resolution against Efferent Real Estates located in Delhi. Gaurav Katiyar has been named by the courts as the Interim Resolution Professional (IRP) for the case. The buyer through his lawyer Piyush Singh of […]
NCLT takes action against Efferent Realtors under Insolvency and Bankruptcy Code.more
The Maharashtra Real Estate Regulatory Authority (MahaRERA) took action against 21 real estate developers, who have not followed the Real Estate (Regulation & Development) Act (RERA) registration, and also did not apply a list of customers who booked their homes for further action under Section 7 and 8 of the RERA Act. The provisions of […]
MahaRERA took suo moto action against 21 developers.more
On December 27, Hardeep Singh Puri, State Minister for Housing & Urban Affairs said that approximately 1.20 crore jobs have so far been generated under PMAY-Urban through forward and backward linkages to around 250 auxiliary industries including steel, brick kilns, cement, paint, hardware, sanitary etc. According to investments made within the scheme about 568 lakh […]
State minister Hardeep Singh Puri, speaks about 1.20 crore job creation under PMAY-Urban.more
The Maharashtra Government plans to bring the various agencies responsible for affordable housing schemes under a single umbrella. Sources indicate that the Government is considering bringing the Slum Rehabilitation Authority (SRA), Maharashtra Housing and Area Development Authority (MHADA) and others to urban development services in order to streamline and speed up affordable housing projects. While […]
State Government to soon unite housing bodies to speed up affordable housing projects.more
Nearly 10 months after MahaRERA issued Rs 24 Crore recovery warrants against Nirmal Developers after they failed to repay 80 home buyers in Mulund for Nirmal Olympia project, the buyers’ money have yet to be refunded. Homebuyers are now stuck in the blame for the recovery battle between Tehsil officials (who conduct the recovery process) […]
MahaRERA issued recovery warrants of Rs 24 crore against Nirmal Developers.more
Singapore’s GIC Sovereign Fund invests about Rs 430 crore in Prestige Estates by way of a preferential issue of equity shares. In a regulatory filing, Prestige said that the GIC investment company Gamnat Pte will procure the company’s 13.4 million Bengaluru equity shares at Rs 323.22 per share. The Gamnat preferential issue has already been […]
Prestige Estates approved a preferential issue of GIC investment worth Rs 430 crore.more
Recently Birla Estates released its WhatsApp interactive AI-Enabled ChatBot solution LIDEA. The solution is intended to provide consumers who assess Birla Estates’ residential development with information on their projects, says the company. LIDEA is designed to provide accurate information and to answer questions regarding the development and initial work of Birla Estates with its Bengaluru […]
Birla Estates introduces Whatsapp AI chatbot LIDEA to provide an interactive solution to its customers.more
