It’s been over a decade since these NRIs paid in crores to get their dream house. They were looking to live the rest of their lives there. And that’s why they paid their hard-earned money to Emaar projects in Hyderabad near Hitec City that offered them excellent villas and apartments. Now, after a decade of crushing […]
Homebuyers approach NCLT claiming Emaar Company as an insolvent.more
As England’s high court and Wales provided the free pass to refinance the loan, Vijay Mallya would be able to retain his London family house, ensuring he pays over Rs 200 crore to Swiss bank UBS. On May 15, 2019, it had announced how Mallya had time until April 30, 2020, to pay the mortgage […]
Court approves refinancing loan application of Vijay Mallya to pay the mortgage to UBS.more
On March 19, the Bombay High Court recommended that civic bodies in Maharashtra temporarily refrain from carrying out demolition or auction of property as courts, which are often shifted for relief in such matters, are already operating for restricted hours owing to the coronavirus epidemic. A Division Bench of Justices S J Kathawalla and R I […]
Bombay High Court halts property demolition & property auctions until 31st March.more
On Thursday, the Enforcement Directorate (ED) said it has attached properties to the tune of Rs 66 crore of many persons implicated in a case involving Surya Vinayak Industries in a Rs 2,206 crore bank scam. The ED, in a report, said that in the case of Surya Vinayak Industries Ltd. and its group companies […]
ED attaches properties of Surya Vinayak Industries of Rs 66 crore under PMLA case.more
Against the backdrop of the Coronavirus outbreak and its effects on the economy, the body of real estate developers, the Confederation of Real Estate Developers’ Associations of India (CREDAI), seeks to delay the debt repayment scheduled for the next 3 months and to be permitted to recover in installments over the next 12 months. The developers’ […]
CREDAI plans to reset the interest rate along with rescheduling debt repayment.more
The coronavirus disease has had a crippling impact on the real estate sector with approximately 65% flat buyers defaulting on installments since last week, said Credai -MCHI, the apex body comprising more than 1,400 builders in the Mumbai metropolitan region (MMR). Worse, there are also reports of the closing down of malls that retail stores will […]
Credai –MCHI reports about 65% of home buyers defaulting on installments.more
Residential buildings incorporated under the 1962 Gujarat Co-Operative Societies Act and intending to conduct redevelopment can now apply to the Paldi Co-operative Registrar, according to an urban development department notification. There are 6,714 housing societies established under the GCS Act of 1962 in Ahmedabad and over the last three months, several of this demonstrated an unwillingness […]
Gujarat co-operative society’s residents can now apply for redevelopment.more
An amnesty scheme has been declared by South Delhi Municipal Corporation to provide relief for inhabitants of unauthorized colonies. SDMC Mayor Sunita Kangra clarified that, under the terms of the scheme, the unpaid tax in respect of residential property in unauthorized colonies would be exempted from payment by paying just the current year’s tax. “In […]
South Delhi announces tax exemption for residents of the illegal colonies.more
The civic general body approved a vacant land tenancy scheme (VLT) on Wednesday in a view to boosting revenue. The BMC plans to receive Rs 500-600 crore one-time revenue from 213 plots, covering more than 125 sq ft, which will be leased at 62.5% of ready reckoner rates. These involve gymkhanas, cricket fields, community centres and godowns […]
BMC expects to receive Rs 600 crore through the Vacant Land Tenancy (VLT) scheme.more
On 11 March, the Telangana High Court sent a strong note that those who hide behind stay orders received from courts to secure their unlawful systems are no longer safe. The High Court also demanded that Lokesh Kumar, Commissioner of the GHMC, provide information of all cases pending with the High Court and civil courts […]
Telangana High Court takes strict action against illegal constructions.more
