Real Estate News Update for February 16
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Industry
NOIDA: Realtors have time till February 22 to give their consent to UP govt’s rehabilitation package, after which it will be assumed that they don’t agree with the conditions and will need to pay their entire dues, the Noida Authority said in its “final” notice to 27 developers.
Regulatory
The bench of Justice Dharmesh Sharma further directed the registrar of companies (ROC) and the Union ministry of corporate affairs (MCA) to jointly initiate action and ensure step-wise compliance of the Companies Act, 2013 by the developer.
RERA
GURUGRAM: To check misuse of funds collected from homebuyers, Haryana Real Estate Regulatory Authority (H-Rera) has warned banks of legal action on allowing withdrawal of funds by developers from the regulator’s accounts in violation of norms.
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RERA
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has tied up with the Advertising Standards Council of India (ASCI) to identify developers advertising projects without registering the project with the real estate regulatory body.
Housing Finance
MUMBAI: The largest private sector lender HDFC Bank on Thursday said its home loan book reached Rs 6.84 lakh crore in the December quarter, closing the gap with its public sector rival State Bank of India. SBI, the country's largest lender, has a home loan book of Rs 6.94 lakh crore.
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