The receiver informs the apex court that the formalities for incorporation of a not-for-profit company under Section 8 of Companies Act, 2013 to receive funds from SWAMIH Fund has been finalised.
NCDRC rules that homebuyers cannot be made to wait indefinitely for possession of plots; Builder’s settlement with a few buyers is not enough when a class action suit is invoked, especially since huge amounts paid by thousands of buyers are at stake
Cash discounts, lower interest rates, free accessories, GST, stamp duty waivers, free maintenance and swap of your property, builders are leaving no stone unturned to attract homebuyers this season.
NBCC agrees to undertake sales and marketing mandate of unsold inventories and Floor Area Ratio (FAR) for Amrapali projects
Overall sales value in 2020 highest in MMR (Rs 49,313 crore) followed by Bengaluru (Rs 12,569 crore) and NCR (Rs 9,430 crore); Upcoming festive season to see more homebuyers back on the market, a report has said
As many as 123 projects have been sanctioned, including final approval to 33 projects, with an investment of Rs 12,079 crore that would target to provide relief to 81,308 homeowners
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
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
Digital platforms will form a strong foundation for realty businesses in the future and upcoming technologies will create a seamless buying experience for homebuyers.
Also, with several physical and operational hurdles in place, the real estate sector is expected to witness large-scale adoption of digitisation
This is perhaps the worst crisis of their lives due to job losses and pay cuts for which no relief has so far been considered. It’s time steps are taken to restore their confidence
Pepsi may have made millions by putting fewer chips in a Lay’s bag but developers’ ploy to shrink apartment sizes won’t help them for long, as homebuyers will want value for their money.
The loans have been disbursed under the Pradhan Mantri Awas Yojana Credit Linked Subsidy Scheme
Mumbai stamp duty numbers are likely to go up during the festival season after pitru paksha ends
NBCC hopes to garner Rs 3,800 crore from the outstanding amount payable by homebuyers in the next three years and plans to deliver all the flats by February 2023 if cash flow is maintained. The state-owned corporation is involved in the completion of 23 Amrapali Developers housing projects. The estimated cost of completion of all these projects is about Rs 8,400 crore
Any unreasonable escalation of flat cost by the builder ‘unfair’, the consumer court said
Singhal and the builder sealed the deal for the flat in Sahyadri in 1995. When the builder failed to hand over the flat as promised, Singhal approached the Maharashtra State consumer Disputes Redressal Commission, and, later, the NCDRC. The national commission finally ordered a compensation almost six times the cost of the flat.
Experts say that while this temporary but strong inoculation into the dampened market sentiment will help revive sales, it may not be enough. Tax sops by the government and discounts by developers may do the trick
A flat in Worli, bought for Rs 9 crore nine months ago, is sold for Rs 6.8 crore. Barter housing stock refers to units given to contractors and vendors by builders in exchange for services rendered.
Buyers are opting for ready-to-move-in homes rather than those under construction as in the latter case, the projects could get delayed and miss delivery deadlines
Work on all projects are likely to be completed within 9 to 36 months. Completion depends on timely deposit by homebuyers and arrangement of funds from other sources, says NBCC CMD PK Gupta.
A few developers are targeting homebuyers who belong to these Tier 2 cities and are offering low rise condominiums and affordable plots.
The fund will enable completion of 71,559 dwelling units across various parts of the country, the finance ministry said
This takes the total number of proposals approved for the Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects (SWAMIH I) to 101 and the total investments to over Rs 10,000 crore
The two authorities generally charge interest at the rate of 11 percent from developers, who pay for housing land in installments.