BUSINESS
Jaypee Infra bidders may have second thoughts as about 3,000 home buyers seek refund
Realty experts say that assuming even if 12,000 have registered their claims with the portal out of which 9,000 want a finished house and 3000 want refund, there are still thousands of units left that are part of the unsold inventory.
BUSINESS
RBI asks banks to refrain from filing Jaiprakash Associates in the insolvency court for now
Jaypee Infratech is among 12 large stressed companies in the first list referred to banks by RBI to start bankruptcy proceedings in June 2017.
BUSINESS
Housing ministry likely to seek increased funding for its flagship schemes in the Budget
Work on creating a housing fund to meet funding requirements is also 'in an advanced stage'
BUSINESS
NGT quashes Central notification diluting provisions of environmental clearance for construction activities
The Tribunal said that the notification though claims to serve the social cause of providing housing for the poor but, in fact, the result of its enforcement would be contrary.
BUSINESS
RERA report card: 26 states and UTs notify rules; 20,000 projects registered with regulatory authorities
Six states and union territories have established permanent Real Estate Regulatory Authority and 23 States/UTs have established interim Real Estate Regulatory Authority.
INDIA
Housing Minister Hardeep Puri: Investment of Rs 1.91 lakh crore proposed by 90 smart cities
Besides area-based development (ABD) and pan-city projects an amount of Rs 1,998.49 crore has been kept aside for operations and maintenance (O&M) cost of the mission and other contingencies
BUSINESS
Real estate this year: 2017 was a year of hope for homebuyers; actual relief may come in 2018
The legal precedents established in 2017 have laid the foundation for the ‘rules of engagement’ in the real estate sector and these will have a long-term impact
BUSINESS
Will mega real estate changes in 2017 benefit homebuyers?
The sector went through phases of both uncertainty and hope as both developers and homebuyers struggled to come to terms with a slew of regulatory reforms.
INDIA
Office leasing in 2017 records three crore square feet of net absorption, says a report
Chennai records highest growth in net leasing at 38 per cent; Pune up by 18 percent year-on-year in net leasing
INDIA
Homebuyers hold silent protest in Noida before inauguration of Magenta Metro line section
Protests were held near Noida's Sector 18 Metro station, Botanical Garden Metro station and near Amity University, Sector 125, Noida
BUSINESS
Jaypee Group searching buyers for its hotel portfolio, sale to generate ‘significant’ amount to refund homebuyers
Of Jaypee's five hotels, three hotels are in the National Capital Region with two of them being at very prime locations in New Delhi, close to the business districts and posh residential areas and one is in Greater Noida.
BUSINESS
Over 500 ‘small sized’ DDA flats in Narela and Siraspur returned by allottees
Most of them were part of the 2014 housing scheme. These will now be handed over to people whose names figure in the waiting list
BUSINESS
SC extends Jaypee Associates deadline to deposit additional Rs 125 crore to Jan 25
At the last hearing on November 22, the Supreme Court had allowed the parent company of Jaypee Infratech Ltd to deposit Rs 275 crore on that day and another Rs 275 crore by December 31
BUSINESS
JP Associates deposits Rs 150 crore with Supreme Court registry: Sources
The sources also said that JP Associates may move Supreme Court on Thursday seeking an extension for the next deadline to deposit Rs 125 crore by December 31.
BUSINESS
Jaypee homebuyers’ portal is only a data repository; options selected in the website can be changed later
The amicus curiae of the Jaypee insolvency case, Pawan Shri Aggarwal, has clarified that making buyers register their choice on the portal is only a “data collection exercise” and that options can be revised once the resolution plan is ready
BUSINESS
Expect some smart cities to be ready by June next year, says Hardeep Puri
The minister said the ten remaining smart cities will be announced by the end of January.
BUSINESS
PropEquity founder buys back stake from US-based hedge fund, targets $100m IPO in next two years
The company will shortly launch a commercial and retail data analytics platform covering over 70,000 lease transactions in top eight cities
BUSINESS
Gurgaon-based Tulip Infratech forms JV with China Construction
The consortium will focus on highways, flyovers, high-rises and affordable housing.
BUSINESS
Over 30,000 flats to be delivered by Noida, Greater Noida and YEIDA by month end; buyers say move is an ‘eyewash’
Action against builders to be taken only after audit process is completed, say sources
REAL-ESTATE
Credai writes to government; seeks intervention for implementation of RERA tribunal in all states
In a letter addressed to Puri, Credai recognised RERA as a game changer for the sector which will facilitate the long-term growth of the Indian real estate industry
INDIA
Aravallis to be delineated across NCR; Shamli district of UP now part of NCR
The Aravallis have to be delineated as natural conservation zones (NCZ) with limit on construction at 0.5 percent across the National Capital Region, it was decided at the NCRPB meeting held on Monday.
BUSINESS
SC appointed amicus curiae says Jaypee homebuyers can register claims on portal from Tuesday
The amicus curiae of the Jaypee insolvency case, Pawan Shri Aggarwal has informed the Supreme Court that the website was ready and that buyers could register their claims from today. The website link is http://amicusjaypee.in/HomePage
BUSINESS
CLSS freebie of almost Rs 2.3 lakh: Will properties under all development authorities finally make the cut?
Areas under industrial authorities and all such authorities like seaport authority, chemical authority etc will soon qualify for the PMAY scheme.
BUSINESS
Draw for DDA housing scheme 2017: 20,000 units to be launched between March to June next year
The DDA housing scheme will be a mix of lower income group (LIG), middle income group (MIG) and high income group (HIG) flats and will be located in areas such as Narela, Dwarka, Rohini, Vasant Kunj, Jasola among others.
