Real Estate News Update for March 19
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Regulatory
HYDERABAD: Enforcement Directorate (ED), Mumbai, has provisionally attached immovable properties (second, third, fourth and fifth floor) of Hotel One Continent at King Koti Road, Sultan Bazaar, Abids, to the extent of 43.84 crore under the provisions of the Prevention of Money Laundering Act (PMLA) in a bank loan fraud case linked to Punjab & Maharashtra Co- operative Bank (PMC).
RERA
NEW DELHI: Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has noticed that in some cases the complainants have not included the co-allottees as co-complainants and the RERA benches have disposed of the complaints after hearing the respective parties which in such cases meant hearing only one of the allottees.
RERA
GHAZIABAD: UP-Rera has asked GDA to answer in 15 days why two orders by it in Oct last year and this Jan to offer possession of a flat to a PMAY beneficiary was overlooked.
Retail
Kishore Biyani has made a surprise Rs 476-crore offer to lenders led by Canara Bank for a one-time settlement (OTS) of the Rs 571 crore debt of Bansi Mall Management Co (BMMCPL), which owns SOBO Central Mall in Mumbai's Haji Ali area. The Biyani offer comes just days after creditors had approved a Rs 475-crore bid from Runwal Group for the asset through an auction process, multiple people familiar with the development said.
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Regulatory
NEW DELHI: Delhi High Court has asked Municipal Corporation of Delhi to explain the basis on which it declared Signature View Apartments dangerous.
Industry
NOIDA: Stalled for years, a decision on restarting Unitech's housing projects will boil down to what gets preference - a proposal that reduces the company's legacy dues or one that lets it raise capital - when the Supreme Court hears this next in April.
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