Real Estate News Update for September 25
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A Delhi court recently ordered the framing of charges for the offence of fraud against real estate company Supertech Limited, its managing director RK Arora, and two agents of the company.
The state-owned NBCC on Tuesday moved the Supreme Court seeking to develop and complete embattled realty major Supertech Limited's 17 stalled or partially built projects where around 27,000 hassled home buyers are stuck for years.
The fourth meeting of the Group of Ministers on boosting the real estate sector held in Goa has decided no further exemption in GST should be granted on long term lease of land by private entity and sector specific exemption such as for tourism purposes. Goa Chief Minister Pramod Sawant hosted the meeting of the Group of Ministers (GoM) on Tuesday.
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Union Commerce and Industry Minister Piyush Goyal on Tuesday assured realtors that he would take up the issue of easy financing to the real estate sector like other industries with the Reserve Bank of India.
Failure of a real estate company to file its response within the stipulated period of 45 days before NCDRC on homebuyers' complaint proved costly as it has been directed by Supreme Court to pay Rs 1 lakh each to 31 buyers who filed a case against it and granted it more time to file reply.
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