BUSINESS
Airports infra development to require sizeable funding: ICRA
According to ICRA, the airports infrastructure sector in India is increasingly getting constrained by the strong growth in traffic since FY2014.
BUSINESS
IGBC launches Healthy Building Rating for occupants
Rating to evaluate buildings on the metric of people-centric design and on the basis of certain parameters such as energy consumption levels, water use and waste management.
BUSINESS
CREDAI to hold New India Summit in Nagpur to address the progress of Tier II, III & IV cities
The undoubted potential of Tier II, III & IV cities is also evident from the current growth rate of the industry in non-metro cities which stands at 79%, while the same for metro cities is 21%
BUSINESS
Green smart cities to contribute 2.5 billion sq ft footprint out of 10 billion sq ft target: IGBC
The council that promotes the green building movement in India has over 4.68 billion sq ft of built-up green building projects across the country. Besides smart cities, it is expecting a larger contribution from affordable housing
BUSINESS
Over 54,000 first home buyers availed interest subsidy under CLSS: Sources
Out of these 54,000 beneficiaries, about 2,300 are from the middle-income group category who have been brought under the ambit of CLSS from January 1, 2017.
BUSINESS
Siemens sells Worli office property for Rs 610 crore
The company said in a BSE filing that it has transferred and assigned its leasehold interest in the property to Whispering Heights, a JV of Reco Solis Pte Limited and K Raheja Corp Group.
INDIA
Interest subsidy scheme on home loans for middle income groups extended by 15 months
Central government today announced that the benefit of interest subsidy of about Rs 2.60 lakh on home loans under Pradhan Mantri Awas Yojana (Urban) will now be available for beneficiaries belonging to middle income groups (MIG) for fifteen more months beyond December this year.
BUSINESS
Unitech case: SC denies interim bail to promoters; asks buyers to register claims on new portal
Supreme Court denies interim bail to Unitech promoter; asks buyers to register claims or refund on new portal
REAL-ESTATE
NBCC to construct World Trade Centres in New Delhi and Guwahati
The total commercial area planned for the Delhi project is 3.2 million sq ft.
BUSINESS
NBCC’s order book to touch Rs 1 lakh crore; to soon offer 1,000 housing units
Around 700 ready-to-move-in units are part of the two projects in Gurgaon. “These will be launched in the next 10 says,” said Dr Anoop Kumar Mittal, CMD, NBCC told Moneycontrol
BUSINESS
Attention Amrapali homebuyers! Today is the last date to fill claim forms
The supporting documents for proof that homebuyers are required to attach with the claim form include documents such as allotment letter, receipts, sale deed, agreement of Sale, bank statements, etc
BUSINESS
NBCC or L&T should takeover completion of Wishtown project, demand Jaypee homebuyers
Buyers are also demanding that all future instalments to be paid by them should be set aside in an escrow account
BUSINESS
Center may set up fund for speedy execution of new urban missions
The funds from this pool will be released in a staggered manner over the next three to five years that will enable early completion of projects ranging from affordable housing to smart city development
BUSINESS
No homes, no EMIs! Can Jaypee home buyers seek legal recourse?
Jaypee home buyers want interim relief from court that they should be allowed to stop paying EMIs until flats are delivered to them as they have no hope yet
BUSINESS
Should insolvency code be amended to protect home buyers?
Experts say that instead of amending the Insolvency and Bankruptcy Code (IBC), which is a general law, the best approach will be to amend the sectoral law, which in this case is the RERA
BUSINESS
NBCC in informal discussions to complete Jaypee Group projects
Jaypee homebuyers had written to the authorities, seeking help of state-owned companies like HUDCO and NBCC to step in and complete the pending projects
BUSINESS
Jaypee Infra insolvency: Can homebuyers get relief under RERA?
RERA is an important legislation that can help during the insolvency process and buyers must make use of it to put forward their right to get a finished flat rather than ask for a refund
INDIA
Global Housing Price Index: India among world's top 10 price appreciating housing markets
The country stood 9th among 55 international markets – 13 spots above its position on the index over June 2016 and even bettered the performance over the previous quarter wherein it ranked 13th
BUSINESS
Housing and urban development targets ambitious yet bold and transformative: Hardeep Puri
The newly inducted minister says if challenges are not met in two years, they can’t be met even in six years. Going by the progress on ground, they can be met
BUSINESS
UP panel’s plan an ‘eyewash’ or a ‘solution’? Homebuyers want more answers
A high-level three-member panel, in its action plan, has given a two-year deadline to Amrapali group to finish its 10 incomplete residential projects in Noida and Greater Noida
BUSINESS
Respite for home buyers of Amrapali, Jaypee: UP panel comes up with resolution plan
Co-developers will be brought in to complete the delayed projects and assured home buyers stuck in Amrapali and Jaypee projects not to pay any outstanding amount until flats are completed
BUSINESS
Credai offers to take over unfinished projects of Amrapali Group: Srcs
This proposal was made by Credai members during a meeting with three ministers appointed by the Uttar Pradesh state cabinet, which was also attended by other real estate developers active in the Noida region, sources said.
BUSINESS
Any Jaypee resolution plan must provide for a separate escrow account as per RERA norms: Buyers
"The ministers heard our problems and assured us that a resolution to the problem will be found soon,” said Devendra Yadav, a homebuyer who has invested in a Jaypee project
BUSINESS
All you need to know about RERA and its progress
25 states notify RERA rules. Four states that are yet to notify the rules include Goa, Kerala, Tripura and West Bengal
