Real Estate News Update for September 30
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A framework for redevelopment of 30-year-old buildings, stalled due to resistance from a small number of residents, has been provided with the introduction of rules by the housing and urban development department on Sept 24.
Creditors to the defunct Lavasa Corp, which was once touted as India's first private hill town project, have set an eligibility criteria of ?100 crore net worth and a ?25 lakh refundable deposit for new expressions of interest (EOIs) from prospective bidders
Supertech has raised questions about a proposal submitted by National Buildings Construction Corporation Ltd (NBCC) to complete 14,000 flats across 17 projects, pointing out that the state-backed company's approach would prolong timelines and keep homebuyers waiting indefinitely.
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The Yamuna Expressway Industrial Development Authority (YEIDA) has mandated that builder-buyer agreements for group housing projects will only be considered valid if stamp duty is paid.
The observation of a Supreme Court bench on Real Estate Regulatory Authority (RERA) on Friday that the regulator had become rehabilitation centres for former bureaucrats who have frustrated the entire scheme of the Act, has put the spotlight on the composition of the bodies which were supposed to safeguard the rights of homebuyers.
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