The finance ministry is considering waiving the 21-day national lockdown period from the bankruptcy resolution process due to COVID-19 outbreak, potentially extending it further.
More than 75,000 homebuyers of Amrapali, Jaypee Infratech, and Unitech in the National Capital Region are likely to be ineligible for the Rs. 25,000 crore stress fund due to government conditions. The finance ministry has clarified that the fund won’t be invested in projects facing litigation in high courts and the Supreme Court. Houses costing more than Rs. 1.5 crore in the NCR region are also not eligible.
RERA will be fully implemented nationwide from May 1. Noida Authority will upload detailed project information online. Homebuyers seek transparency and tracking of construction progress.
The Madras High Court has reinstated the ban on registration of unapproved plots in Tamil Nadu and seeks details on applications violating the 2016 ban order. A special sitting is planned to address the issue.
Pune resident's complaint against builder for smaller flat size and lack of completion certificate rejected by consumer court due to non-compliance with representative complaint norms.
The new Union bill enhances transparency in Greater Noida's real estate, empowering homebuyers while addressing builders' concerns amidst rising demand for affordable housing.
Environment Ministry Integrates Environmental Conditions with Building Permissions for Smaller Buildings
The government has introduced draft rules ensuring developers compensate buyers for delayed project completions, aiming to enhance accountability in real estate transactions.
The Karnataka High Court addressed a PIL regarding Bruhat Bengaluru Mahanagar Palike's property tax collection. The court instructed the commissioner to acknowledge a representation by Bharatha Surachana Mandala within three months.
The Haryana government has reduced circle rates by 15% in Gurgaon to boost the declining real estate market and stimulate buyer interest.
A First Information Report (FIR) has been filed against AN Buildwell for alleged dishonesty and criminal conspiracy following complaints from 15 investors regarding project delays.
Haryana CM directed a status check on licensed residential and commercial projects amidst rising complaints against developers. The government reviews Unitech's projects and duties.
The standing committee is considering revising a previously approved property tax hike to fund 24x7 water supplies, which faced opposition from various political parties.
BBMP may extend the 5% property tax rebate until the end of June. The BBMP Council will decide in the next two days. This follows taxpayer confusion over new tax zones.
The Department of Registration and Stamps in India is working towards establishing an online system for property valuation and stamp duty assessment, aiming to increase transparency and reduce corruption.
Haryana State Info Commission orders HSIIDC to publish NRI plot-owners list in Gurgaon online
Credai predicts 22x boost in FDI with new Real Estate Bill, enhancing transparency and investor confidence
West Bengal Assembly amended Land Reforms Bill, to disallow use of excess land meant for townships, for building real estate, and use for farming or rural economy.
Final guidelines for Real Estate Investment Trusts (REITs) are expected soon, aiming to provide the real estate sector with long-term funding and boost investment opportunities.
Sahara Group will submit new property title deeds worth Rs 20,000 crore to SEBI after being restricted by the Supreme Court from selling assets. The case involves refunding investors.
Noida officials are set to upload housing project details online to protect buyers and curb property scams, with wider transparency expected for developers and investors alike.
Despite DDA's order and NGT's intervention, illegal constructions continue in Yamuna floodplains, fueled by pre-election promises and ongoing property transactions.
Several developers, including Posco-India, Unitech, and Lodha, requested more time for SEZ projects, citing market instability. The government is implementing reforms to boost SEZ investments.
The MoEF's revised notification permits township projects in the Western Ghats, sparking protests from environmentalists who fear ecological damage.
The state government is giving occupants of rural and urban evacuee lands another chance to claim land transfer within three months. Failure to do so may result in them being barred.
