Synchronised approach between RERA and IBC required for future progress of the economy and the real estate sector
Let sentiments not play the main role in property buying today. Mindfully analyze the actual festive benefits before taking the final call. And don’t forget to buffer in for those hidden charges
Next date of hearing fixed for April 25
A home loan borrower should immediately obtain an acknowledgment in writing from the bank that the sale deed has been lost. The letter should bear a seal and signature of the bank officials
SC also granted permission to two directors of JP Associates to travel abroad; Next date of hearing fixed for May 11
The regulator can at best act as a facilitator and work with the committee of homebuyers to complete the project. Such projects can be taken up on a case-by-case basis only
The real estate firm claimed that the agreement was signed between Rhiti Sports and Amrapali Media Vision against which insolvency proceedings are currently on.
Next date of Amrapali case hearing fixed for April 17
SC may consider promoters’ custody parole if Rs 180 crore was deposited by May 11. Next date of hearing set for May 2.
Some home buyers are of the view that they should be given both the secured and financial creditor tag
The resolution professional must make sure that the successful bidder deposits sufficient money for construction of flats in an escrow account and there is provision for payment of delay compensation to JIL buyers
Homebuyers request RBI and NHB to instruct banks/HFCs to collect EMIs from the builder who had “the primary responsibility of completing the project within 36 to 42 months.”
In a jolt to the realty firm, apex court also asks Bank of Baroda to recover the money from the builder and not from homebuyers
Bankers say they are reviewing data of their customers who are now eligible under the scheme and will be informing them shortly
Demand moratorium on equated monthly instalments for the period the housing units have been delayed, setting up a fast track court for buyers cases being heard in the Supreme Court among others
With demonetisation, GST, RERA, insolvency bill, GST rates on affordable housing coming down, the real estate market will see a turnaround. There will be a more rationalized market
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.