Real Estate News Update for November 28
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RERA
The tribunal stated that the housing regulator’s order “suffered from infirmities”, and it has also directed the promoter of the housing project, Neelkamal Realtors, to execute an agreement for sale and hand over possession of the flat at an early date on receiving the occupancy certificate.
Residential
BDR Pharmaceuticals’ Chairman & Managing Director Dharmesh Shah’s family has purchased two adjacent sea-view luxury apartments in Mumbai’s Worli locality for a total of nearly Rs 81 crore.
Residential
GURUGRAM: Two days after a survey report was filed by Edifice Engineering — the company that razed Supertech’s twin towers in Noida — on demolition of five unsafe towers of Paradiso in Sector 109, Chintels India on Monday wrote to deputy commissioner Nishant Yadav seeking the district administration’s support and security arrangements to vacate buildings and barricade unsafe common areas.
Regulatory
MUMBAI: The mere demolition of a building will not affect the alleged tenancy rights of petitioners and they will be entitled to be inducted as tenants as and when the building is reconstructed, said a Bombay high court vacation bench, upholding the BMC’s November 10 notice to occupants of a Malad building to shift out for its immediate demolition.
Cement
KOLKATA: Fuelling speculations that cement major UltraTech Cement has expressed interest in acquiring the cement assets of Kesoram Industries, the B K Birla Group flagship company has called a meeting of the board of directors later this week to consider possible options on repayment or retirement of some of its existing debts.
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