PNT Reporter

26 May 2023

The Jharkhand Real Estate Regulatory Authority (RERA) has taken strong action against M/s Rebloon Impex and its partners for failing to register their projects and violating regulations. This is the first instance of blacklisting in Jharkhand. The firm and its partners were found to be non-compliant with a court order and various norms set by the authority. As a result, they have been barred from undertaking any new projects. The authority aims to protect home buyers, resolve pending complaints, and promote transparency in the real estate sector.Read more

PNT Reporter

26 May 2023

Supertech, a prominent real estate company, has recently informed the administration that it has successfully resolved 32 recovery certificates (RCs) issued by the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera), amounting to a total of Rs 7.6 crore. Additionally, the company stated that it has made a payment of Rs 3 crore to the administration. These developments come as Supertech strives to address the concerns of its customers and settle any outstanding complaints amicably. The company has been offering alternative units or other suitable arrangements to allottees in an effort to find mutually agreeable solutions.Read more

PNT Reporter

25 May 2023

The Chhattisgarh State Consumer Disputes Redressal Commission (SCDRC) has repeatedly issued notices to the Superintendents of Police (SPs) in Bilaspur and Durg on various dates, including November 17, 2020, March 25, 2021, February 24, 2023, and March 24, 2023. The purpose of these notices was to ensure the arrest of realtors Sardul Singh and Raspal Singh, and their subsequent appearance before the consumer court during the upcoming hearing scheduled for June 19, 2023. The SCDRC aims to enforce legal action against the mentioned individuals and resolve the consumer dispute case.Read more

PNT Reporter

25 May 2023

In a recently held review meeting, Ritu Maheshwari, the chief executive officer of Greater Noida Industrial Development Authority (GNIDA), issued a directive to initiate a survey through the consultant firm, Currie & Brown. The survey aims to assess the status of various group housing plots that have been lying idle. Maheshwari's decision highlights the authority's proactive approach in addressing the issue of unutilized plots. By commissioning the survey, GNIDA intends to gather crucial data regarding the status and potential utilization of these plots.Read more

PNT Reporter

25 May 2023

Real estate company BCD Group has unveiled Vanaprastha, a senior living community experience inspired by the Vedic age, to meet the rising demand for retirement options in India. The project, located in Hoskote, offers state-of-the-art amenities such as recreational centres, fitness facilities, and 24/7 medical services. The company plans to collaborate with specialized UK-based healthcare companies to provide personalized services. Vanaprastha at BCD Emprassa will be the country's first rental senior community living experience of its scale, offering affordable pricing. BCD Group aims to replicate this model in Chennai and NCR, investing over Rs 200 crores in each project.Read more

PNT Reporter

25 May 2023

Gurugram residents anxiously await the release of the final audit report for four towers of Chintels Paradiso in Sector 109. The Shri Ram Institute has submitted a sealed test report to the district administration, which is now being analysed by IIT-Delhi for recommendations on the habitability of the structures. Towers D, E, and F have already been declared unsafe, leading to an ongoing compensation settlement process. Chintels India, the developer, has offered residents the choice between compensation or having their flats repaired or rebuilt. The findings of the audit report will play a crucial role in determining the future of these towers.Read more

PNT Reporter

24 May 2023

The Department of Town and Country Planning (DTCP) has issued a notice to the developer of Emerald Hills, a housing society in Gurugram, for building a commercial club on the designated site meant for a community centre. This action violates the terms of the agreement with the housing society, and the DTCP has instructed the developer to remove the unauthorized club and provide a response within a specified timeframe. Failure to comply may result in legal action under the Haryana Development and Regulation of Urban Areas Act 1975. The residents are seeking the restoration of the community centre for their continued enjoyment.Read more

PNT Reporter

24 May 2023

Coimbatore-based real estate firm, Meritt Ventures, has been accused of scamming residents out of several lakh rupees by offering them low-cost housing and villas. The company, led by its director N Vijayakumar, allegedly sold fake plots to unsuspecting buyers. The firm used social media and online marketing to create the appearance of a legitimate real estate business. Despite collecting money, the company did not provide the plots or offer refunds, and those seeking reimbursement faced threats and intimidation. A group of over twelve cheated investors has filed a complaint with the assistant police commissioner, seeking assistance in recovering their collective investment of over Rs 30 lakhs.Read more

PNT Reporter

23 May 2023

The National Company Law Appellate Tribunal (NCLAT) has concluded the Corporate Insolvency Resolution Process (CIRP) against Marvel Realtors & Developers Ltd, following the acceptance of a settlement agreement with its financial creditor. Furthermore, the plea filed by Catalyst Trusteeship, opposing the withdrawal of the CIRP against Marvel Realtors & Developers, was rejected by the appellate tribunal. The NCLT bench in Mumbai had ordered the initiation of insolvency proceedings against Marvel Realtors & Developers in December 2022, based on a plea from IDFC First Bank.Read more

PNT Reporter

23 May 2023

Gurugram district authorities have issued a 15-day evacuation notice for Towers E and F of Chintels Paradiso, declared unsafe by an IIT Delhi audit. District Magistrate Nishant Kumar Yadav initiated the evacuation under the Disaster Management Act and Section 144 of CrPC. The towers were linked to fatalities last year when Tower D partially collapsed. Non-compliance with the evacuation order could lead to legal consequences, reinforcing the critical need for residents' safety amid structural uncertainties.Read more