In order to help new financiers revive struggling housing developments that have left millions of homebuyers throughout the nation in the dark, several high-street banks will waive their first claims to assets and cash flow. Several of the bank CEOs and other industry leaders who spoke about the issue a week ago were willing to […]
Banks might relinquish the right to restart housing projects.more
MUMBAI: In order to, among other things, speed up the home-buying process and protect customers from potential abuses, the government has decided to organise a committee to work on a model buyer agreement, a top government official declared on Tuesday. According to Consumer Affairs Ministry Secretary Rohit Kumar Singh, the committee, which will include representatives […]
Government will establish a group to develop a sample builder-buyer agreement: Officialmore
NEW DELHI: The Supreme Court declared on Thursday that even if the struggling EMI-paying flat owners take possession of their homes before the release of a such legally required document, the builder of a housing complex is still legally obligated to obtain a “completion certificate” for the construction. The National Consumer Disputes Redressal Commission (NCDRC) […]
Supreme Court orders builder to obtain “completion certificate”more
The Supreme Court has cleared the way for the demolition of two illegal buildings built over a decade ago in Nerul’s Sector 16A on plots reserved for a public garden. The ареx court has ordered the 165 families living in these “towers of corruption,” as activists refer to Krishna Complex and Trimurti Park, to give […]
Navi Mumbai: The SC orders the evacuation of 165 families in order to demolish illegal structures.more
NEW DELHI: The Supreme Court on Tuesday ordered the Maharashtra Housing and Area Development Authority (Mhada) to submit details of the surplus area agreed to surrender by builders in 246 housing development and redevelopment projects, as well as the status of FIRs registered by Mhada against builders, within three weeks. The SC bench issued this […]
SC requests information from MHADA on the status of FIRs against builders and surplus areas.more MUMBAI: The SC upheld an April 2019 Bombay high court decision that invalidated three rules for determining the “capital value” of land where construction is set to begin under a new property tax regime. Despite being a setback for the C, the SC decision by a bench led by Chief Justice U U Lalit and […]
The SC upholds a Bombay HC decision against laws that raise land property taxes.more
MUMBAI: In a money laundering case related to the DHFL loan fraud case, the Enforcement Directorate (ED) searched six premises on Thursday, including Rajen Dhruv’s Orbit Ventures. Kapil Wadhawan and his brother Dheeraj Wadhawan aka Baba Dewan, both former DHFL promoters, are accused of diverting a portion of the fraud money to Orbit Ventures in […]
In the DHFL case, the ED searched the premises of Orbit Ventures and others.more
The high court also set aside the Lookout Circulars (LOC) issued against those employees in an order issued on Monday and stated that there would be no search, seizure, or summons arising from the Enforcement Case Information Report (ECIR). NEW DELHI: The Delhi High Court has quashed the Enforcement Directorate’s ECIR against India bulls Housing […]
The Delhi High Court has dismissed the ED’s ECIR against India Bulls Housing and Its Employees.more
Capital markets regulator Sebi announced on Friday that it has scheduled an auction on July 15 for as many as 39 properties owned by Royal Twinkle Star Club Pvt Ltd and Citrus Check Inns Ltd, with a reserve price of Rs 66.51 crore. The move is part of Sebi’s effort to recover funds raised by […]
SEBI to sell off Royal Twinkle and Citrus Check Inns properties.more
On July 15, officials from the Noida and Greater Noida government, private developers, and homebuyers met to address the deadlock over delayed flat registration. The conference was presided over by Sanjiv Kumar Mittal, the state’s infrastructure and industrial development commissioner. The developers representing Credai and Naredco were requested to submit a new payment plan to […]
Builders are requested to provide a payment plan for the authorities in Noida and Greater Noida.more