BUSINESS
Banks vote against forensic audit of Jaypee Infratech
Homebuyers have been demanding an independent audit to determine why Jaypee Infratech had failed to deliver the projects.
REAL-ESTATE
Not going to stop at 100 smart cities: Hardeep Singh Puri
Money spent on urban rejuvenation by the Modi government since 2015 stands at around Rs 8.6 lakh crore, or 6 times more than the amount spent under 10 years of the UPA government, says Housing and Urban Affairs Minister.
REAL-ESTATE
Over 10,000 housing units up for grabs in DDA's new scheme
The date for the 2019 housing lottery is yet to be finalised, but sources said that scheme may be launched in the first week of March before election code of conduct kicks in
REAL-ESTATE
DDA gives go ahead to draft walkability policy on the lines of Chennai
Walkability policy aims to make the Capital safer and accessible for pedestrians
REAL-ESTATE
Explainer: GST rate cut to boost sales of housing units, reduce unsold inventory
Homebuyers ought to be wary of developers who may try and increase the base price for non-affordable housing units to make good the loss on account of input tax credit being denied to them
REAL-ESTATE
Jaypee homebuyers seek bankers’ support for embattled firm's forensic audit
Buyers claim that since the parent company Jaiprakash Associates had tabled a settlement plan under the IBC, it shows it had access to money and hence the matter must be looked into.
BUSINESS
Delhi's Master Plan 2041 to focus on greater citizen engagement and quality public transport
Master Plan for Delhi 2041 is expected to take care of the Capital's needs for the next 20 years starting 2021.
REAL-ESTATE
This is what you should know about the Jaypee Infratech bids
In its bid, NBCC has promised to deliver flats to homebuyers in four to five years from the transfer date, subject to the availability of the cash flows from the respective projects
REAL-ESTATE
Govt approves construction of 82-km rapid transit system connecting Delhi to Meerut
The corridor is expected to connect the cities to the centre with a high-speed dedicated rail connector and serve as many as eight lakh passenger trips per day.
REAL-ESTATE
DLF Shopping Malls targets 8 million sq ft of retail space by 2024
DLF Shopping Malls is planning to focus on Delhi-NCR as that is ‘where the consumption is’. It is evaluating retail opportunities in a holiday resort town outside the national capital
REAL-ESTATE
Jaypee Infratech lenders discuss bids by NBCC and Suraksha Asset Reconstruction Company
The Committee of Creditors has recommended that a forensic audit be conducted as demanded by Jaypee homebuyers.
INDIA
All that you need to know about Delhi Metro’s 9.6 km Red Line extension
After the opening of this section, the DMRC will have a 336.5 km network with 244 metro stations
BUSINESS
Real estate sector should form an internal self-regulation mechanism: Venkaiah Naidu
The real estate sector has come under severe scrutiny from the apex court and consumer rights bodies due to some unethical practices followed by certain entities, he said.
REAL-ESTATE
NCLT should inform real estate regulator before taking up a RERA registered case: Maharashtra RERA chief
"If RERA is able to resolve the matter within three to four months ‘good’, if not, then the NCLT can take it up," said Gautam Chatterjee.
BUSINESS
Real estate sector should work towards improving credibility, target new middle class: PM Modi
Prime Minister Narendra Modi said sops announced in interim Budget 2019 will encourage the youth to purchase houses
REAL-ESTATE
Supreme Court directs NBCC to float advertisements to sell unsold inventory in two Amrapali projects
The bench also wanted to know if the Debt Recovery Tribunal had been able to sell the real estate company's properties.
BUSINESS
Supreme Court admits homebuyers' petition challenging constitutional validity of WBHIRA
The apex court has issued a notice to West Bengal government and directed it to file a response within a fortnight.
REAL-ESTATE
NBCC asked to provide estimate, amount required to complete delayed realty projects: Sources
The National Housing Bank and some PSU banks may come forward to provide last mile funding to complete the unfinished projects
REAL-ESTATE
Proposals of GoM panel on real estate may address homebuyers' input tax credit woes
The recommendations are "aimed at reducing the impact of GST on the end-consumer and simplifying the compliance requirements of the developer.
REAL-ESTATE
Unitech homebuyers move application in SC for government takeover of project
The application moved in the Supreme Court seeks for the immediate suspension/removal of the board of directors of Unitech Limited and the appointment of the nominees of the union/Government of India in its place.
REAL-ESTATE
Repo rate cut to lower homebuyers’ mortgage, developers' working capital cost
May lead to fence sitters returning to the market and augment overall housing demand
BUSINESS
Owners can now register land parcels on DDA land pooling policy website
The land pooling policy was notified last year by the Union housing and urban affairs ministry and is applicable in 'urbanisable' areas of urban extensions in 95 villages in the Capital.
BUSINESS
Deconstructing Budget 2019: What's in it for homebuyers and real estate developers
The proposal that no notional rent will be levied on second self-occupied homes and that capital gains up to Rs 2 crore can be used to buy two houses, is expected to boost demand for housing.
INDIA
Budget 2019: Fund allocation for housing and urban affairs ministry up 12%
The Metro received the biggest share of the pie - an allocation of Rs 19,152 crore, a 23 percent increase from Rs 15,600 crore last year. It is expected that the Metro network would be expanded to over 15 cities in 2019-2020.
