Category: REAL ESTATE NEWS

62% of instances involving real estate insolvency have a successful conclusion.

June 12, 2023

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

39 real estate projects in Pune submit deregistration requests.

June 8, 2023

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

A $400 million offering is planned for July by Brookfield India REIT, according to sources.

June 5, 2023

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

CREDAI calls for the removal of the GST on free-of-charge apartments offered in redevelopment projects.

June 2, 2023

NEW DELHI: In order to make rehabilitation projects economically viable, particularly in the Mumbai region, realtors’ group CREDAI has urged the government to abolish the GST on units that are provided free of charge to current tenants. When meeting with Union Finance Minister Nirmala Sitharaman, a delegation from CREDAI and CREDAI-MCHI made an official representation […]

CREDAI calls for the removal of the GST on free-of-charge apartments offered in redevelopment projects.more

Promoter has the responsibility to sign a sales agreement using the correct form: REAT Assam

May 30, 2023

The promoter must draught and enter into an Agreement for Sale with an allottee exactly in accordance with the form provided in Annexure “A” of the Assam Real Estate (Regulation and Development) Rules, 2017, according to the Assam Real Estate Appellate Tribunal (REAT). Reat was making a decision regarding an appeal brought by a promoter […]

Promoter has the responsibility to sign a sales agreement using the correct form: REAT Assammore

For unlawfully collecting groundwater, the UPPCB penalised 38 builders in Noida with a total of Rs. 76.5 billion.

May 29, 2023

NOIDA: 38 builders were fined Rs 76.5 crore by the Uttar Pradesh Pollution Control Board (UPPCB) for unlawfully drawing groundwater from borewells. Within 15 days, the builders must deposit the money. According to officials, the board fined the Gaur City 2 project a maximum amount of Rs 6.6 crore and the Gaur City 1 project […]

For unlawfully collecting groundwater, the UPPCB penalised 38 builders in Noida with a total of Rs. 76.5 billion.more

Hyderabad’s Income Tax Department examines prominent builders’ houses in the Old City.

May 25, 2023

HYDERABAD: On Wednesday, income tax (I-T) inspectors searched the residences of prominent realtors in the Old City on suspicion of widespread tax cheating. Nearly 40 locations connected to the Kohinoor Group and Red Rose Group in Hyderabad, Gurugram, Noida, and Karnataka were searched. Mohammed Quadri Ahmed and Mohammed Amjad of KM Kohinoor Realtors Private Limited […]

Hyderabad’s Income Tax Department examines prominent builders’ houses in the Old City.more

Court: Broker may only be compensated for work completed.

May 22, 2023

MUMBAI: A civil court dismissed the claim of Shailesh Kamani, a resident of Ghatkopar, who sought a fee of Rs. 3 lacks from a property owner for whom he had allegedly brokered a deal in 2012. The court noted that the role of a broker is to persuade the vendor and purchaser to arrive at […]

Court: Broker may only be compensated for work completed.more

According to SC, West Bengal RERA will hear real estate complaints submitted to HIRA.

May 19, 2023

KOLKATA: The West Bengal Real Estate Regulatory Authority (WBRERA) will now handle all proceedings on complaints that home buyers had brought against developers to the now-defunct West Bengal Housing Industry Regulatory Authority (WBHIRA). The Supreme Court stated during a special leave petition (SLP) hearing on May 12 that any orders issued by the WBHIRA will […]

According to SC, West Bengal RERA will hear real estate complaints submitted to HIRA.more

Large housing finance companies are urged by NHB to create a framework for early warning signals.

May 16, 2023

DELHI: As the regulator for mortgage lenders a framework for early warning signals (EWS) has been requested by NHB from home financing companies with asset sizes of over Rs 1,000 crore in order to stop financial fraud and keep accounts from becoming non-performing assets. In a recent circular, the National Housing Bank (NHB) stated that […]

Large housing finance companies are urged by NHB to create a framework for early warning signals.more

Category: REAL ESTATE NEWS

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