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
With finance minister Nirmala Sitharaman on February presenting the Union Budget 2020-21, real estate chambers pursued to dilute the definition of affordable housing in order to enable more properties to fall within its scope and take advantage of the opportunities. The concept of affordable housing currently means a house or flat in non-metropolitan cities and […]
Real Estate bodies seek to develop more properties under the affordable housing scheme.more
The deadline for filing property tax has been extended by one month to 31 January. “People who haven’t filed the property tax can deposit it and get a 10% tax rebate. Defaulters properties will be sealed and later auctioned when they fail to pay property taxes on time.” said, MCG Chief Vinay Pratap Singh. Property […]
Delhi/NCR extends property tax filing to 31st January.more
Supertech, a real estate company, said on January 5th, that they sought Rs 1,500 crore from the newly established government Stress Fund to complete their 12 ongoing housing projects in Noida and Greater Noida in Uttar Pradesh. The firm said the 12 projects consisting of 20,000 flats are in an advanced stage and that last […]
Realty firm Supertech applies for last-mile funding of Rs 1,500 cr.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
The affordable housing based lending arm of JM Financial Group (JM Financial Home Loans) proposes a five-fold increase in the next fiscal year’s loan book with a co-lending tie-up with the Bank of Baroda. Two years back, as part of diversifying of its developer financing business (JM Financial Credit Solutions, the joint venture with ex-Citi […]
JM financial home loans partnered for co-lending with Bank of Baroda, expects to enter premium home loans.more
This year investment in the property industry in India, driven mainly by a large demand of commercial IT companies’ office properties, is likely to rise by 5% to USD 6.5 billion (around Rs 46,000 crore), according to the global real estate consultant Colliers. The real estate market gained USD 6.2 billion last year, up 8.7% […]
Colliers International Report – Indian real estate sector to attract USD 6.5 billion investment.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