Real Estate News Update for January 11
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Regulatory
Union Bank of India (UBI) had challenged the July 21, 2023, order of the Mumbai bench of the National Company Law Tribunal (NCLT), which approved the resolution plan of Darwin Platform Infrastructure Ltd for Lavasa Corporation that was developing a private hill city in the Pune district.
Residential
GURUGRAM: Objecting to the transfer of maintenance to the RWA, a group of residents of Adani Oyster Grande on Tuesday gathered at the developer’s office in Sector 49 and staged a protest, demanding no transfer of interest-free maintenance security (IFMS) charges.
Regulatory
MUMBAI: Observing that allowing a developer, who delayed implementing a slum rehabilitation scheme in Khar West’s Murugan Chawl by over two decades, to continue further would be a “devastating decision”, the Bombay high court upheld the termination of his appointment.
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Industry
NEW DELHI: Sebi on Wednesday proposed limiting the number of subordinate units that can be issued by REITs and InvITs as well as ensuring uniformity in the granted rights of such units.
Commercial
MUMBAI: Nuvama Asset Management and global commercial real estate services firm Cushman & Wakefield on Wednesday formed a joint venture entity, which will launch a Rs 3,000-crore commercial real estate fund. The new entity will be known as Nuvama and Cushman & Wakefield Management.
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