Real Estate News Update for November 23
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Regulatory
MUMBAI: Mumbai Police has registered a case against a builder couple for allegedly duping actor Samir Kochhar and actor Karishma Tanna's husband Varun Bangera of more than Rs 1 crore after taking advance payment from them for two flats, an official said on Wednesday.
Regulatory
MUMBAI: The board of the Securities and Exchange Board of India is likely to discuss proposals to regulate investment platforms offering fractional ownership of real estate assets and to change delisting rules when it meets on November 25, said two people with direct knowledge of the matter. The capital markets regulator wants to allow companies to go private at a fixed price.
Regulatory
The National Company Law Tribunal (NCLT) has allowed an exclusion of 936 days from computation of the 270 days for the Corporate Insolvency Resolution Process (CIRP) of realty developer Lok Housing and Constructions in one of the highest such exclusions provided to any company so far.
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Regulatory
NEW DELHI: At a time when a major complaint of consumers is that orders passed by consumer commissions are often not implemented, National Consumer Disputes Redressal Commission (NCDRC) has compelled — by regular monitoring — a real estate major to pay around Rs 80 lakh compensation to a flat buyer.
Infrastructure
MUMBAI: The BMC is likely to allow ferrying of uncovered construction debris by trucks this week as the Bombay high court’s ban on such transportation in the wake of rising pollution lapsed last Sunday.
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