Government has been apprised of the fact that in the Gautam Buddha Nagar locality alone, 16,197 flats have been allocated to buyers without proper registration.
Ask resolution professional to make sure an amount of Rs 4000 crore is deposited in an escrow account to complete ongoing projects latest by December 2019
It has also asked the developer to furnish details of the amount pending from the buyers’ side.
International audit firm Currie & Brown likely to submit final report within a week
Coverage of PMAY enhanced to include properties in rural areas, industrial belts and rural pockets within SEZs
The sector went through phases of both uncertainty and hope as both developers and homebuyers struggled to come to terms with a slew of regulatory reforms.
if you are planning to buy property now, buy only for self use. This is not an investors’ market and appreciation in property prices is unlikely for the next two years
The Insolvency and Bankruptcy Board of India (IBBI) has amended rules to mandate that any resolution plan for a company has to explicitly state how it has dealt with the interests of all stakeholders
JAL had requested for an urgent hearing on October 13 for an extension of the 45-day period (that ends of October 27) for depositing Rs 2000 crore but the Supreme Court disallowed it.
The homebuyers' petition states that buyers be treated at par with financial creditors
Homebuyers in Karnataka have filed a writ petition in the high court challenging the “explanation” attached to 'ongoing projects' rule in the Karnataka Real Estate (Regulation and Development) Rules 2017.
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
The government is studying the Insolvency and Bankruptcy Code on a “comprehensive basis” to amend the law to provide relief to thousands of homebuyers stuck in projects where builders are claiming insolvency.
The next hearing is set for November 13. Meanwhile, the SC has restrained the former CEO and Managing Director Manoj Gaur of Jaypee Infratech from leaving the country.
With 50 hours left to file their claims, 40,000 home buyers stuck in incomplete projects floated by Jaypee Infratech, against which the NCLT recently started insolvency proceedings, have three options before them.
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
Real estate and banking experts anticipate the home loan interest rate to hover around 8 percent once the banks decide to pass on the benefit to consumers.
Over the medium term, developers may be encouraged to pass on the cost benefits to customers to comply with the anti-profiteering clause introduced in the Central Goods and Services Tax of 2017
The decision to sell property must depend on your financial requirements and the price you are getting
Homebuyers wanting to purchase a house immediately should go in for projects that have received an occupation certificate or one that is expected to get permission soon.
Homebuyers may even decide to wait for real estate projects to get completed to avoid paying GST altogether
Real estate developers may pass on differential input tax credit benefit to homebuyers invested in the same project depending on the amount that may be due from them to the builder on July 1, say real estate experts.
Properties bought in e-auctions are sold at an ‘as is where is’ basis and are mostly offered at a discount of 10-15% to market price, because of the problems associated with non-performing assets (NPA).
Finding it hard to purchase a house that suits your budget? A ‘half more’ apartment could be the solution for you.
The new GST rate may increase prices of premium units due to high land costs, but the amount of benefit that a buyer may get will depend on the demand-supply situation and competition in a micro market