BUSINESS
Now a challenge to speed up construction of affordable housing through technology innovation
Till date, the government has sanctioned about 26 lakh houses, grounded 11 lakh units and completed three lakh units and the aim is to achieve the target of about constructing 1.2 lakh affordable homes by 2022
BUSINESS
Jaypee Infra to obtain claims of home buyers from records if buyers fail to submit forms
As many as 40,000 Jaypee home buyers are stuck in incomplete projects floated by Jaypee Infra against which the National Company Law Tribunal has recently started insolvency proceedings
BUSINESS
Demonetisation, RERA & GST fail to impact high end realty deals
In such a scenario, a deal worth Rs 45 crore for a property that has an uninterrupted view of the Arabian Sea, offers a ray of hope. Of late deals worth Rs 30 crore to Rs 400 crore have also been sealed in the Capital.
BUSINESS
Jaypee home buyers will not have to fill up any claim forms
In a meeting attended by Jaypee Infratech MD Manoj Gaur, the NCLT appointed insolvency professional Anuj Jain and CEO of Jaypee Infratech, corporate affairs ministry officials and home buyers, it was decided that home buyers will not have to submit any documents
BUSINESS
NBCC open to take up incomplete real estate projects as project consultant
Real estate developers sniff an opportunity to float asset reconstruction companies to take on incomplete real estate project contracts
BUSINESS
No home, no EMI: Irate homebuyers write to Finance Minister Arun Jaitley
Homebuyers ask finance minister Arun Jaitley to instruct banks to stop EMIs until they get flats as buyers have to bear the double burden of paying rent as well as EMIs
BUSINESS
Homebuyers beware! More builders likely to seek insolvency cover to avoid RERA
With the Real Estate (Regulation and Development) Act 2016 (RERA) tightening the noose around the developer community, some of them may have found liquidation proceedings or the bankruptcy law as an avenue to escape the ambit of the state regulator
BUSINESS
Should Jaypee homebuyers stop paying EMIs?
Compared to the developer and the banker, the customer is perhaps the worst placed in the Jaypee-NCLT case and to expect that he should continue to discharge his EMI obligation while the developer has not delivered the housing unit, is grossly unfair
BUSINESS
As states allow developers extra time to register with RERA, home buyers cry foul
While there is no specific provision under RERA that allows states to extend the time period for registration for three months, most of them are doing so by interpreting the penalty clause
BUSINESS
NBCC planning to take up redevelopment projects in Uttar Pradesh
These will include the redevelopment of old government colonies in cities such as Varanasi, Gorakhpur, Agra, Shahjahanpur, etc
BUSINESS
Are interim RERA authorities set up by states illegal?
Under RERA, it may be inappropriate for interim authorities to continue after the one-year deadline that expired on April 30, 2017 but courts cannot strike down decisions taken by interim authorities appointed before May 1, 2017
BUSINESS
NBCC’s green arm to assist municipalities in executing sewage treatment projects
NBCC Environment Engineering Ltd in discussion with the smart cities department and is assisting municipal corporations as project management consultants
BUSINESS
RERA report card: 23 states notify rules; permanent regulatory authority set up only in four
States that have drafted the rules but not yet notified them include Goa, Himachal Pradesh, Kerala, Telangana, Tripura and West Bengal.
