Real Estate News Update for July 15
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Regulatory
The National Company Law Tribunal (NCLT) has dismissed the resolution plan submitted for realty developer Rajesh Lifespaces' hotel business, Rajesh Business & Leisure Hotels, citing non-conformity with statutory requirements and procedural irregularities.
Residential
NOIDA: Scores of plot owners in Noida's Sector 145 on Sunday staged a protest against the local authority over the delay in providing physical possession of their residential plots and developing the sector despite eight years in waiting. Organized by the Resident Welfare Association (RWA) of Sector 145, the protesters included senior citizens, men, women, and children as they carried banners and posters of their demands.
Residential
NEW DELHI: The last decade (2014-H1 2024) has seen homebuyers' wait for possession in large under-construction projects in the top seven cities reduce to 4.9 years, from 6.1 years in the 2010-2019 period, according to Anarock data.
Industry
Macrotech Developers has posted a 20 per cent growth in sale bookings to Rs 4,030 crore for the first quarter of this fiscal year as housing demand continues to be strong. Sale bookings of Macrotech Developers, which markets its properties under Lodha brand, stood at Rs 3,350 crore in the year-ago period.
Industry
NEW DELHI: State-owned construction company NBCC has shown interest in taking over all the pending projects of real estate developer Supertech, which has been facing multiple cases from homebuyers over delayed deliveries besides an Enforcement Directorate investigation into alleged money laundering.
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