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Category: Legal Article

Under-construction Building

Nine developers and MHADA held a meeting to negotiate the costing of Patra Chawl redevelopment project.

November 29, 2019

The 672 tenants of Patra Chawl’s redevelopment project in Goregaon get a ray of hope for the first time since their homes were demolished in 2010. On 27 November, nine private developers who bought the land from Housing Development and Infrastructure Limited (HDIL) in the 42-acre redevelopment plan, met with officials from the Maharashtra Housing […]

Nine developers and MHADA held a meeting to negotiate the costing of Patra Chawl redevelopment project.more
SEBI

Recent guidelines by SEBI on preferential issue & institutional placement by listed REITs.

November 28, 2019

On Wednesday, the Securities and Exchange Board of India (SEBI) provided guidelines on the preferential issue of units and institutional placement of units by a listed Real Estate Investment Trust (REITs). The regulator said that if it has been listed for a period of 12 months, a listed REIT may create a preferential issue of […]

Recent guidelines by SEBI on preferential issue & institutional placement by listed REITs.more
Building Construction

Analyst poll – Real estate sector is expected to bounce back modestly through the government measures.

According to an analyst poll by Reuters, The housing market in India, burdened by unfinished projects, as developers struggle to access money, is expected to recover modestly in the coming year on government efforts to unblock the market. The government has approved the 100 billion rupees ($1.4 billion) fund earlier this month to help clear […]

Analyst poll – Real estate sector is expected to bounce back modestly through the government measures.more
FPCE

FPCE demands Prime Minister’s intervention to get errant developers to NCLT.

November 21, 2019

The Forum for People’s Collective Efforts (FPCE) lobby of homebuyers requested involvement by Prime Minister Narendra Modi to avoid any attempt to prevent homebuyers from moving the National Company Law Tribunal (NCLT) against errant builders. Last year the Government implemented the Insolvency & Bankruptcy Code to consider homebuyers as financial creditors and authorize them, in […]

FPCE demands Prime Minister’s intervention to get errant developers to NCLT.more
BMC

Wadala Chawl residents ask BMC to forfeit redevelopment agreement with East & West Developers.

November 20, 2019

Residents of Azad Nagar chawls in Wadala, in violation of the Bombay High Court ruling in March 2019, wrote to Municipal Commissioner Praveen Pardeshi to terminate the development agreement with East & West Developers, a part of RNA Group, for failing to pay transit rent to 324 residents. On 1 September at the project location […]

Wadala Chawl residents ask BMC to forfeit redevelopment agreement with East & West Developers.more
Maharashtra RERA Rules in Place to Protect Homebuyers from May 1

RERA: A group of residents cannot file a complaint against a builder without registration.

November 16, 2019

The Gujarat Real Estate Appellate Tribunal stated in a significant order that the group must, first be registered association if a group of residents wants to complain against a developer with the Gujarat Real Estate Regulatory Authority (RERA). The residents or allottees of houses can lodge complaints either individually or by means of a lawyer, […]

RERA: A group of residents cannot file a complaint against a builder without registration.more
BMC

Mumbai Officials claim to have achieved 70% of potholes complaint under Pothole Challenge 2019.

November 7, 2019

It was an exercise in public relations fraught with potential pitfalls. But the BMC seems to be sitting nicely at the end of the seven-day #PotholeChallenge2019—the corporations claim to have fixed nearly 70% of their complaints about potholes and also decide to call up all of their complainants and confirm that their concerns are dealt with ‘Satisfaction’. The […]

Mumbai Officials claim to have achieved 70% of potholes complaint under Pothole Challenge 2019.more

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