Real Estate News Update for August 14

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Regulatory

HC axes builders from redevelopment project in South Mumbai over arrears

MUMBAI: The Bombay HC, which a week ago had said "enough is enough" over defaults on transit rent payments, has removed builders from a composite redevelopment project in south Mumbai. The builders had failed to deposit Rs 3.5 crore as directed towards arrears for tenants who had vacated homes seven years ago.

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Industry

Registration of 160 realty projects stuck as local bodies fail to update MahaRERA via email

MUMBAI: After some developers from the Kalyan-Dombivali region were found to have submitted forged civic clearance documents while registering projects under MahaRERA, it was made mandatory for local civic bodies and planning authorities to send emails of all commencement and occupation certificates issued for real estate projects to a dedicated email ID to verify their authenticity.

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Residential

Notices sent to 18 homeowners in Gurugram for building norm violations, may lose OCs

GURUGRAM: Eighteen homeowners in Sushant Lok-1 and -2, DLF-2, Vatika India Next and Uppal Southend have been issued show-cause notices for alleged illegal construction and running commercial establishments without permissions, officials said on Sunday.

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Regulatory

HC slams PNB for auctioning property without clear title, orders refund to bidder

BENGALURU: Observing that the ‘as is where is’ clause in a public auction does not imply that the property in question does not have an absolute title, the high court has directed a nationalized bank to refund Rs 30.7 crore to a successful bidder for a property.

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Industry

India Emaar’s future, we are doubling down on country: Mohamed Alabbar, Founder, Emaar Properties

"The integration between UAE in general, specifically Dubai, and India is historic. The benefit of this long relationship really continues to grow. Dr Mahathir Mohamad (former Malaysian prime minister) said, look East, and where do we look in the East? Is there anything better, bigger, more stable, and keeps growing than India? There is nothing," Mohamed Alabbar, Founder, Emaar Properties.

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Popular Among Readers:

KP Singh, two promoter entities offload DLF shares for Rs 1,087 crore

Mumbai: Dilip Kumar's Pali Hill bungalow to make way for residential project

Bollywood producer Dinesh Vijan buys apartment in Mumbai's Pali Hill for Rs 103 crore

Indiabulls Housing Finance promoter further cuts stakeholding

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