BUSINESS
RERA needs to be amended to include financial institutions: Gautam Chatterjee
The 2016 legislation that paved the way for a real estate regulatory authority can gain more teeth if the architect, engineer and chartered accountant are made accountable for design, quality of workmanship and fiscal discipline, says the founder chairman of the MahaRERA.
BUSINESS
Night-time economy in proposed Master Plan can raise productive use of city resources: Delhi Lt Governor
For promoting and incentivizing clean industries, DDA is considering to incorporate dynamic provisions in MPD-2041 by way of identification of strategic investment zones for creating clean economy hubs, he said.
BUSINESS
Real estate watchdog’s NCR forum settles 1,150 disputes involving properties worth Rs 345 cr
Most of the disputes came from allottees of projects in Gautam Buddha Nagar, Ghaziabad, Meerut, and Bulandshahar
BUSINESS
29% wealth of Indian UHNWIs allocated towards purchase of residential property in 2021: Knight Frank Wealth Report 2022
Globally, 21% of UHNWIs plan on purchasing a new home in 2022; 9% of the Indian UHNWIs are planning to invest in commercial properties indirectly through REITS or debt funding in 2022
BUSINESS
Bank of Baroda sanctions Rs 300 crore for construction of Amrapali housing projects in Noida, Greater Noida: Sources
On February 21, the Supreme Court was informed by the court-appointed receiver that several rounds of discussions with banks had taken place, the documentation work is completed and funds worth Rs 1,500 crore have been arranged.
BUSINESS
Delhi gets guidebook for setting up electric vehicle chargers in residential areas
Aimed at encouraging the adoption of EVs, the document details the process of setting up the charging infrastructure, while addressing concerns about space, investment and power load management
BUSINESS
Women's presence in a sector is a barometer of how fair the business is: Housing Secretary
Joshi also said that whether it is a small or big city, people should be able to reach offices from home within 15 minutes.
BUSINESS
Russia-Ukraine crisis may impact the real estate sector
Experts say price of building materials like cement may increase as oil prices go up. There is also a likelihood of interest rates rising as RBI may change its accommodative stance in order to curtail inflation.
BUSINESS
RERA Act | Next Central Advisory Council meeting on April 12
The primary role of the CAC is that of an advisory body which is tasked with the function of finding more effective means to ensure the efficient implementation of the RERA
BUSINESS
NBCC appoints VNIT Nagpur as consultant for 30 months to monitor construction quality of 20 Amrapali projects
For projects whose structures had been completed by Amrapali and finishing work was undertaken by NBCC, a third-party structural consultant is said to be appointed soon
BUSINESS
Quarterly construction-quality audits must precede occupation certificate: experts
Recently, the roof of a flat in a multi-storeyed Gurgaon project collapsed, causing further damage on the floors below. Regular monitoring would compel developers and construction companies to take greater care and prevent such tragedies, say experts
PODCAST
The Moneycontrol Real Estate Show: Planning to buy a house under the affordable housing scheme? Here's who can apply
Buyers can expect price appreciation from an affordable housing unit but they can sell only after about a year of getting possession of their unit
BUSINESS
Amrapali case: Homebuyers flag construction quality of NBCC projects before Supreme Court
Apex court directs consortium of banks to release Rs 300 crore funds within a week after final approval.
BUSINESS
Homebuyers call on govt to hold RERA’s Central Advisory Council meeting immediately
This is important to discuss at length the issues and concerns regarding functioning of Regulatory Authorities and implementation of RERA across the country, the homebuyers say. The last physical meeting was held in 2018.
BUSINESS
After spending millions of rupees, 200 Gurugram flat owners find themselves homeless
The collapse of an apartment block at Chintels Paradiso that killed two people has forced 36 families out of their homes. In another housing complex, 140 families have to move out as their apartments are unsafe to live in. The families are desperate and angry—these flats are barely five years old
BUSINESS
Gurgaon roof collapse case: Legal remedies available to homebuyers facing construction quality issues
While ‘building collapse’ is not defined as an offence under law in India, various grievance redressal mechanisms are available to homeowners. Here’s a look at legal remedies.
BUSINESS
Booked a house under the 80:20 scheme? Here’s what you should know
Instances of builders making homebuyers to pay pre-EMIS, which the former are liable to do, are many. Recently, the Delhi HC said homebuyers need not have to do that. Legal experts say it is always advisable for buyers to opt for a construction-linked payment plan.
BUSINESS
Businessman Anant Agarwal buys bungalow in South Delhi’s West End area for Rs 82.5 crore
Recently, several transactions have been finalised for bungalows in Delhi’s Lutyens Zone and other luxury markets in the national capital such as West End and Vasant Vihar
BUSINESS
Arpita Khan Sharma buys apartment in Mumbai for Rs 10 crore
Spread over 1750 sq ft, the apartment in Khar West comes with four car parking spaces
BUSINESS
Govt approves proposals for over 60,000 houses in five states under PMAY (Urban)
The approvals were given at the 58th meeting of Central Sanctioning and Monitoring Committee (CSMC) under Pradhan Mantri Awas Yojana (Urban) on February 15.
BUSINESS
SC order puts interests of homebuyers above that of banks in the event of a real estate firm defaulting on a loan
Legal experts say the order would shield homebuyers from fraudulent practices of real estate developers who often fail to repay debt, leading to lenders taking over incomplete projects and auctioning them to recover their dues
BUSINESS
Gurgaon apartment roof collapse: CM Khattar orders structural audit
At least two persons were killed and some trapped under the rubble after the ceiling of a sixth-floor Gurugram apartment, where renovation work was underway, collapsed on February 10, causing the floors underneath the flat to cave in.
BUSINESS
SC directs housing ministry to assess if state rules under RERA comply with those notified by Centre
The Supreme Court was hearing the petition seeking a direction to the Central government to frame a Model Builder Buyer Agreement to ensure transparency and protect the interests of homebuyers as per the aims of the Real Estate (Regulation and Development) Act, 2016.
BUSINESS
Nykaa leases 27,000 sq ft office space for 5 years in Mumbai
Nykaa will pay a rent of Rs 65 lakh a month for the first three years and Rs 75 lakh for the remaining two years for the space it has taken up in Prabhadevi
