Real Estate News Update for August 26
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UP-RERA has informed the allottees of the projects of Supertech Realtors, Supertech Township Projects, Ajnara Realtech, Rudra Buildwell Constructions and Gayatri Hospitality to immediately file their claims before the insolvency resolution professional (IRP) appointed by the NCLT, consequent on start of CIRP under the Insolvency and Bankruptcy Code (I.B.C.).
A joint-venture led by billionaire Gautam Adani is struggling to secure land to rehabilitate poor residents of one of Asia's largest slums in Mumbai, a government official said, posing a fresh challenge for the ambitious reconstruction plan.
The H-Rera conducted a meeting on the stalled OSB Expressway Towers project in Sector 109 with homebuyers on Friday and issued a final warning, stating if the project was not completed within six months, the regulator would invoke Section 8 of the Rera Act.
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Developers of projects who have opted for UP govt’s rehabilitation package but are yet to pay 25% of their recalculated dues as advance are likely to lose their lease deeds, allotted plots or even unsold inventory.
The National Consumer Disputes Redressal Commission (NCDRC), New Delhi has ordered issuance of non-bailable warrant against Sushil Mantri for not complying with its order, in relation to the failure of refunding the refundable lump sum maintenance deposit collected from the flat owners residing at Mantri Residency on Bannerghatta Road.
Nearly 15 months after Central Bureau of Investigation sought a copy of Delhi Development Authority’s internal vigilance inquiry in connection with lapses in construction of 336 multi-storeyed HIG/MIG houses at Signature View Apartment, Delhi High Court has asked for a status report.
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