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Advocate Jain had called Supertech Ltd the "main culprit" in defrauding homebuyers whereas Corporation Bank advanced more than Rs 2,700 crore to builders through subvention schemes.
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The association also sought streamlining of getting approvals to develop projects.
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Real estate developers suffer from a ‘God’ complex, so everyone else is dispensable.
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Builders owe nearly Rs 13,500 crore to GNIDA. Only 10 defaulter builders have so far applied for the re-schedulement policy, which was launched in December 2022.
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Homebuyers said that their main concern was getting their homes registered.
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Post COVID-19, the larger players are increasing their market share at the cost of smaller ones. Can only a handful of big builders address India’s housing blues?
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Upon receipt of an Offer of Possession from a real estate developer, a prospective buyer should check if the occupation certificate/completion certificate for the project/phase in which his unit is located has been issued by the competent authorities
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A guide on what homebuyers must do when the developer of their projects is taken to insolvency court and the variables involved for those with and without ownership deeds
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The MahaRERA notification said that the extension offered is not going to have an effect on the rights of the homebuyers
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Builders hog the entire limelight in a real estate project. But there are many players that make a success or failure of a project. Two very important stakeholders in a project are architects and contractors. Homebuyers must explore the previous track record of the architect and contractor prior to determining their decision on a home purchase. But, do they? And, if they do, who are the architects and contractors that Mumbai rates highly?
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Owning a home is a dream for most Indians. But it’s not easy. Often the barrier in that dream turning into reality is - the Builder. Homes are priced too high, delivery timelines are often meaningless and product quality is almost always suspect. Many home buyers are trapped in projects that will probably never get completed. So what does the common man think about the community that is responsible for providing the most important purchase for most Indians - A home.
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The Maharashtra government may have gotten carried away with this fleeting phase of success. For the developer that means there is a long road ahead. But one that can be crossed.
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Two days before builders go on a day-long strike against alleged price hike, cement association sends a strongly-worded statement. Similar charges also traded between user industries and steel companies
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Should homebuyers take the plunge with real estate developers doling out cash discounts and freebies, lower interest rates, GST, stamp duty waivers, and schemes such as the 10:90 one, not to mention the offer to buy a home at 20 percent below circle rate?
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An additional outlay of Rs 18,000 crore for the Pradhan Mantri Awaas Yojana Urban has also been announced.
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But study the scheme documents thoroughly and pay special attention to the fine print. Make sure you don’t sign on any document that restricts your right as a consumer or waives any liabilities of the developer
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The extension unlikely to impact ongoing cases. However, delivery of homes may get delayed and buyers may not be able to initiate corporate insolvency resolution process (CIRP) in case of fresh matters
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The Noida Authority board also gave its nod to the decision of not imposing penalty on land allottees who could not get their documents executed during the lockdown period
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Borrowers who want to consider restructuring their loans with their respective banks will need to check the fine print. It is important to establish the exact amount of their monthly EMIs once the moratorium period ends
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Investments in 18 projects have been given final clearance and disbursement is at various stages across 7 residential projects; Builders and buyers welcome the move
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Extension should only be for the actual period of the lockdown when construction was not permitted, they said
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What is truth about the real number of projects being stalled and the belief that prices of realty will definitely fall in the post-Covid era ?
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Last week, the Centre issued an advisory to regulatory authorities of all states and Union territories, directing them to treat COVID-19 pandemic as 'Force Majeure' or an act of God. It allowed extension of timeline to complete projects by six months
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Measure does little to boost housing sales and may curtail remedies available to homebuyers, say legal experts
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While the measures announced by the Centre certainly provide relief to real estate builders, homebuyers say it does not offer any immediate help in the form of interest or rent waivers
