Real Estate News Update for January 09
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Industry
NOIDA: The Noida Authority has identified several sectors and villages off the Noida Expressway where people have illegally taken over notified Authority land and are now trying to sell the same to the public.
Residential
GURUGRAM: Days after the Supreme Court ordered time-bound reconstruction of flats in Sector 109’s Chintels Paradiso and asked the developer to extend rental support to affected flat owners, residents said the apex court hasn’t given relief from the day the flats were vacated. Also, no reconstruction timeline has been fixed, they claimed.
Industry
The National Company Law Tribunal (NCLT) has approved the scheme of amalgamation and arrangement between Mumbai-based realty firm JP Infra (Mumbai) and its affiliated entities Four D Estates, Four D Buildspace and JP Infra Realty.
RERA
MUMBAI: The government is examining whether two separate Acts on the subject of regulation of the real estate sector — one enacted by the Centre and the other by a state — can coexist.
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