Real Estate News Update for June 25

Dear Readers,

Welcome to the latest edition of ETRealty's daily newsletter, RealtyDigest! Through this especially curated newsletter, we aim to provide the latest real estate and allied industries' news, views, market trends, reports, video interviews and much more to help you navigate the world of real estate.

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Industry

Supertech submits plan to Uttar Pradesh government for completion of stuck projects

Supertech has stated that its total dues to the bank and development authority amount to about Rs 8,000 crore, while project receivables from both launched and yet-to-be-launched projects exceed Rs 14,000 crore, making the projects' net worth positive.

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Industry

Need to make changes in building byelaws in Uttar Pradesh: CM

While talking about the development of the hotel industry at a meeting with senior officials of the housing department, Adityanath said it is the result of efforts to encourage the tourism potential that today the state has emerged as the first choice of tourists.

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RERA

Only 195 projects set up grievance redressal cell despite MahaRERA directive

The regulator has undertaken a review of the same and is now planning to initiate action against the developers that are not in compliance with the directive issued in August 2023 with an objective of resolving homebuyers’ grievances.

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Industry

Lenders of Jaiprakash Associates raise apprehension on settlement proposal

During the proceedings of the NCLAT, counsel appearing for lenders said the insolvency plea was filed against JAL in 2017 and for the last seven years, it dragged it under the pretext of a settlement.

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Industry

Birla Estates acquires 16.5 acres land in Pune

The land parcel has a development potential of approximately 32 lakh sq ft and an estimated revenue potential of Rs 2,500 crore.

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