User: IIHSDELHI Topic: iihs_land_newsletter_v2
Category: All-Channels :: RERA
Last updated: Sep 10 2019 21:26 IST RSS 2.0
 
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Realty market sentiments begin to revive 10.9.2019 DNA
While smaller players have opted to exit or consolidate in the RERA era, reputed brands such as Lodha have managed to achieve transactions and retain customers
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Urban Development Institute to be constructed in Bhounri 29.8.2019 Central Chronicle
Bhopal, The Urban Development and Housing Department will get the Urban Development Institute constructed in Bhounri for training of its officers and employees.  The Minister for Urban Development and Housing Jaivardhan Singh reviewed the construction works of the institute. Singh said that the institute should be constructed keeping in view the needs of the next […]
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Somesh is KCR's Man Friday 29.8.2019
Hyderabad: Senior IAS officer and special Chief Secretary Somesh Kumar has become a key officer in the TRS government. He has handled all responsibilities given to him by Chief Minister K. Chandrasekhar Rao. No other senior IAS officer has handled as many departments as Mr Kumar. Now, he is slated to be given additional responsibility of the revenue department even as Mr Chandrasekhar Rao prepares to introduce the new Revenue Act. Presently, Mr Kumar heads the Excise and Commercial Taxes sections of the revenue department. The TRS government has recently shifted the special chief secretary of the revenue department, Rajeshwar Tiwari, who headed the revenue, registrations and stamps sections and handed over these departments to Mr Kumar as well. In addition to these responsibilities, he is also the Chief Commissioner Land Administration (CCLA) and the chairman of RERA as well. When Mr Kumar worked as GHMC commissioner, he was given the nickname "Chief Minister of Hyderabad" by some political ...
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Homebuyers drag two NCR realtors to NCLT 26.8.2019
New Delhi: Homebuyers have dragged two NCR-based real estate firms—Umang Realtech Homes and Today Homes Noida—to the National Company Law Tribunal (NCLT) after they failed to deliver flats on time. In both cases, homebuyers relied on the amended Insolvency and Bankruptcy Code (IBC), which gives them a new status as financial creditors. The amendment was upheld by the Supreme Court. The NCLT has started insolvency proceedings against Delhi-based Umang Realtech Homes when a couple of petitioners moved the tribunal, claiming they invested around Rs 1 crore for buying a flat in the firm's Winter Hills 77 project in Gurugram, but the realtor defaulted in giving possession, promised by 2015. Similarly, a group of buyers moved the NCLT against Today Homes Noida after the realtor failed to deliver flats, by 2016, at the Ridge Residency project in Sector 135, Noida. A two-member bench, headed by President Justice M. M. Kumar, has appointed an interim resolution professional (IRP) to take over the ...
All PMAY houses to be sanctioned by March 2020 21.8.2019 Business – The Navhind Times
New Delhi: The government would sanction all the targeted 1.12 crore houses under the Pradhan Mantri Awas Yojana (PMAY) by March 2020, said Union Minister for Housing and Urban Affairs Hardeep Singh Puri at the 15th annual convention of the National Real Estate Development Council (NAREDCO), here on Tuesday. Of the initial target of 1 …
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Experts answer queries on consumer issues 20.8.2019 DNA
Today we bring to you our expert's take on consumer issues.
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FM meets realtors, homebuyers; govt assures steps to boost liquidity, demand 12.8.2019 PTI: All news
FM meets realtors, homebuyers; govt assures steps to boost liquidity, demand
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Real estate sector gets Finance Minister's word 12.8.2019
New Delhi: In the last sectoral meeting with the real estate sector representatives and homebuyers, Finance Minister Nirmala Sitharaman, on Sunday, said that she would soon address issues affecting the sector and other stakeholders. She also assured them that measures on liquidity issues, demand slowdown and stalled projects would be taken to strengthen the industry in the near future. However, confirming the development, a source close to development told Financial Chronicle, "The finance minister has acknowledged various concerns raised by real estate industry bodies and she assured them to look into the problems faced by the industry soon, especially liquidity crunch, slowdown of demand and stalled projects, among others." The government is believed to have decided on a high-level meeting to bring the ailing sector on track. "There would be a separate high-level meeting, under the chairmanship of the cabinet secretary, in next few weeks to discuss setting up of a stress fund to deal ...
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Mantri, PNB Housing, Axis Bank cheated us: Home buyers 10.8.2019
BENGALURU: Mantri Developers, Punjab National Bank Housing Finance Ltd (PNBHFL) and Axis Bank have defrauded hundreds of home buyers to the tune of hundreds of crores, alleged home buyers and representatives of an NGO here on Friday. Buyers have filed eight FIRs with the Cubbon Park police station against the builder and PNBHFL. They have also approached the Real Estate Regulatory Authority (RERA), accusing Axis Bank of colluding with the builder. Each buyer has invested anywhere between Rs 25 lakh and Rs 1.5 crore. Some of the affected home buyers and representatives of NGO Rowland Future India alleged that over 1,000 people have lost their money, but the police and bureaucracy are apathetic. "The union government is only communicating about complaints and counter-complaints to us and Mantri. RERA has given its verdict in 30 of the 70 cases, but the orders are still to be executed. We request the police to restrain Mantri"s top officials, including founder director Sushil Mantri, from ...
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Irrational prices, non-transparency may make Kashmir a tough property market 8.8.2019 The Asian Age | Home
Scraping of Article 370 has presently opened up the hope that outsiders may invest in undaunted property in the union territory.
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Branded developers dominate real estate market after RERA, demonetisation 29.7.2019 DNA
The report by Anarock Property Consultants says, that the top 7 cities saw 73,930 units launched by branded players; 65,550 units by non-branded players in the first half of 2019. Prior to and RERA in the first half of 2016, non-branded developers dominated by 60:40. However, since the first half of 2017, the share of new launches by branded players saw a steady rise; fly-by-night operators exited, smaller players consolidating with big brands.
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CAIT wants action against MS Dhoni for endorsing realtor Amrapali 26.7.2019 DNA
Auditors have said that Amrapali Group entered into "sham agreements" with Rhiti Sports which promotes the brand of MS Dhoni.
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Hang builders for defrauding homebuyers: Vijay Goel 25.7.2019
New Delhi: BJP MP Vijay Goel, on Thursday, said that the builders defrauding homebuyers should be hanged and action must be taken against brand ambassadors who promote their projects. Raising the issue in Rajya Sabha during Zero Hour, the BJP lawmaker also sought action against officials of banks as well as Noida and Greater Noida authorities indulged in corruption in collusion with builders. "The greedy builders have defrauded lakhs of homebuyers. They are all from the middle class. They invested their hard-earned money for making their dream of a home come true," Goel said. "But they have been cheated by builders and such builders should be hanged. Their crime is no less than the crime of rape," he added. Goel, a former Union Minister, also sought action against celebrities who endorse such brands. "Action must be taken against the brand ambassadors of such companies," he said while seeking action against officials of banks, Noida and Greater Noida Authority involved in ...
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RERA Act has power to rejuvenate real estate sector: Anthony DeSa 25.7.2019 Central Chronicle
Bhopal:  RERA Shri Anthony DeSa expressed view that RERA act has inherent power and potential to give boost to real estate sector. By tapping its full potential, real estate sector can achieve highest growth. He was addressing IAS officer of 121th induction course at LBSNAA, Mussorie. Increased financial and physical discipline is being observed in […]
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SC cancels Amrapali group's registration and leases, directs NBCC to complete its pending projects 24.7.2019 PTI: All news
SC cancels Amrapali group's registration and leases, directs NBCC to complete its pending projects
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SC cancels RERA registration of Amrapali Group 24.7.2019 Business – The Navhind Times
New Delhi: The Supreme Court on Tuesday came down heavily on Amrapali Group, a major real estate company, by penalising it extensively for committing fraud on thousands of homebuyers who invested their hard-earned money in its various projects. A Bench headed by Justice Arun Mishra cancelled registration of Amrapali Group of Companies under RERA (Real …
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Supreme Court cancels Amrapali group's registration, leases 23.7.2019 The Asian Age | Home
The court also appointed the state-run National Buildings Construction Corporation (NBCC) to complete all its pending projects
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Union Budget 2019: Real estate developers call for tax sops for homebuyers 3.7.2019 DNA
Real estate developers have urged Union Finance Minister Nirmala Sitharaman to announce extra tax benefits for homebuyers, with a focus on the affordable housing segment. The wish list presented by several real estate developers comes as Nirmala prepares to deliver her first Union Budget in the Lok Sabha on July 5.
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Address key issues confronting real estate sector to attain goals 2.7.2019 DNA
India's real estate sector needs about $330 billion (Rs 24.75 lakh crore) of construction funding to deal with the acute housing shortage that the country faces
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Hyderabad old & new: Symbol of changing India 2.7.2019
A nocturnal drive through Hyderabad"s flattened roads past endless parades of glittering shops was a reminder that my old friend Ghafoor Noorani was more accurate than even he may have thought when he gave his book on the collapse of the Nizam"s regime the apocalyptic title, The Destruction of Hyderabad. Leave alone the Nizam, little remains of the languid and leisurely city of rocky starkness I first savoured in the 1960s. This obliteration of distinction for the global symbols of anonymous affluence is an all-India phenomenon. India"s only exception to the rule arises from its growing commitment to the culture and religion of the majority. The new elite may be socially secular but didn"t even notice when small Hindu shrines crept up against the Char Minar"s pillars. As Noorani wrote of Gen. J.N. Chaudhuri"s Operation Polo in 1948: "The deceptively titled "Police Action" was much more than conquest of a rebel state governed by a megalomaniac under ...
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