This may not be the last housing draw by the Delhi Development Authority (DDA) as there are over 6,000 flats still under construction across Delhi, top DDA sources told Moneycontrol.
What are the circumstances under which a homebuyer can claim compensation and/or withdraw his or her investment from a project?
Supreme Court also directed that their personal properties be attached. The next date of hearing has been fixed for March 26
Homebuyers have been demanding an independent audit to determine why Jaypee Infratech had failed to deliver the projects.
The average age of a home buyer has come down to about 30 years from 50 years. as per a report.
The date for the 2019 housing lottery is yet to be finalised, but sources said that scheme may be launched in the first week of March before election code of conduct kicks in
Homebuyers ought to be wary of developers who may try and increase the base price for non-affordable housing units to make good the loss on account of input tax credit being denied to them
Buyers claim that since the parent company Jaiprakash Associates had tabled a settlement plan under the IBC, it shows it had access to money and hence the matter must be looked into.
In its bid, NBCC has promised to deliver flats to homebuyers in four to five years from the transfer date, subject to the availability of the cash flows from the respective projects
The Committee of Creditors has recommended that a forensic audit be conducted as demanded by Jaypee homebuyers.
The real estate sector has come under severe scrutiny from the apex court and consumer rights bodies due to some unethical practices followed by certain entities, he said.
"If RERA is able to resolve the matter within three to four months ‘good’, if not, then the NCLT can take it up," said Gautam Chatterjee.
The bench also wanted to know if the Debt Recovery Tribunal had been able to sell the real estate company's properties.
The apex court has issued a notice to West Bengal government and directed it to file a response within a fortnight.
One residential house was an amendment which was introduced by the Finance Act 2014. The 2014 amendment had been causing hardship to middle class families which had to pay tax for separation of family property
The application moved in the Supreme Court seeks for the immediate suspension/removal of the board of directors of Unitech Limited and the appointment of the nominees of the union/Government of India in its place.
May lead to fence sitters returning to the market and augment overall housing demand
The report is based on a survey covering over 150 stakeholders of the Indian real estate sector, including leaders from the development and financial side.
The NBFC liquidity crisis may have played spoilsport last year but a few real estate sector-friendly proposals in Budget 2019 may bring some cheer to the ailing hopefully will bring some cheer to the market
There have been instances wherein there is a mismatch in the timelines laid down in the developer’s agreement of sale and those shared with RERA.
The proposal that no notional rent will be levied on second self-occupied homes and that capital gains up to Rs 2 crore can be used to buy two houses, is expected to boost demand for housing.
Alignment of GST and personal income tax to boost home ownership is an option that government may consider exercising in the upcoming Budget, said realtors.
To continue the momentum of infrastructure creation, the Budget is expected to focus on addressing the needs of the common man, especially in terms of extending tax incentives for housing.
NBCC has been asked to start work on Amrapali Castle and Eden Park, both located in Noida. This is expected to benefit some 600-odd home buyers. A total of Rs 6.5 is crore required to complete these projects
The developers also demanded that steps should be taken to boost liquidity in the sector, especially after the NBFC crisis.