While homebuyers want the government to create a stressed asset fund to deal with incomplete projects, developers are hoping that the government will bring stamp duty within the purview of GST.
RERA committee discusses difficulties faced in giving effect to provisions of the legislation; next meeting on January 22.
Despite some landmark RERA orders, inconsistent and the arbitrary decisions taken by some authorities have disappointed homebuyers
As per estimates, average property prices remained largely static across the top 7 cities in 2018. At the pan-India level it saw only 1 percent increase
Developers of the nation recommend rationalisation of GST in real estate, keeping stamp duty outside the purview of GST and incentivising rental housing
Most common excuses given by real estate developers range from hurdles in land acquisition, labour issues, restrictions on extraction of ground water, NGT orders
Forensic auditors have also been directed to examine the sub-leases granted by Amrapali Group by next date of hearing - January 16, 2019.
Hopes to deliver almost 30,000 delayed units by December 2019
The government’s note on Saturday that asked builders to reduce the prices of properties and pass on the benefit of the lower GST rate appears to be an outcome of anti-profiteering complaints against some builders falling out of line
Post the Jaypee, Amrapali and Unitech case, homebuyers are definitely more informed. Despite that, the trust deficit is bound to continue as a majority of them are still apprehensive about under construction projects.
Luxury cars of the directors have also been attached. SC orders Debt Recovery Tribunal to sell the assets. Next date of hearing is on December 12.
At a brief hearing, Justice Chandrachud indicated that the issue of conducting a forensic audit of Unitech's financials may come up on December 7.
Model rules must include penalties for officers of state administration who delay real estate projects
Sources said that L&T Infrastructure may not be invited for bidding as the company is only given a conditional bid for taking over Yamuna Expressway project.
The report has to be submitted before the next date of hearing - November 30.
On the issue of notices being issued by RERA authorities and not being followed by developers, Puri said that RERA authorities have the power to summon, advise and punish.
The apex court has directed that the CMD of the company and its two directors be personally present in court on the next date of hearing when the contempt proceedings are expected to be taken up.
Arunachal Pradesh, Meghalaya, Manipur, Mizoram, Nagaland and Sikkim have not notified the legislation due to land-related issues.
States expected to be represented at the November 15 workshop include Uttar Pradesh, Himachal Pradesh, Uttrakhand, Punjab, Haryana, National Capital Territory of Delhi (NCT) and Union Territory of Chandigarh
Who will compensate us for the prime years of our lives lost, rue home buyers
The home buyers have written to Prime Minister, Finance Minister, Minister of Road Transport and Highways, and Minister for Housing and Urban Affairs.
The court directed the auditors to submit their interim report regarding the progress in the case by October 25.
Five other items on agenda including the proposal to replace Anuj Jain as resolution professional for the company’s ongoing bankruptcy procedure was rejected.
Homebuyers, FD holders and financial institutions have voted online on appointment of Deloitte Touche Tohmatsu India LLP to assist the RP, buyers' objections to related party transactions between JIL and JAL, proposed fee for the resolution professional among other issues
Section 8 of RERA empowers the authority and buyers to execute remaining development work but experts say arranging funds to complete the project and cooperation among allottees are the biggest challenges