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

PNT Reporter

22 May 2023

The Department of Town and Country Planning (DTCP) has issued a show-cause notice to the developer of Godrej Summit, a residential complex in Gurugram, and sealed two flats on the third and fourth floors due to the dismantling of the separating slab between them. The fourth-floor flat now lacks a floor, exposing the concrete mesh, while the third-floor apartment has no roof. Complaints from residents about cracks in balconies and walls of other apartments have raised concerns about the tower's structural integrity. The DTCP has ordered the developer to stop ongoing repair work, restore the flats to their original plan, and provide an explanation for the unauthorized alterations.Read more

PNT Reporter

22 May 2023

The district administration in Noida is set to auction 38 shops in Wave Mega City Centre's commercial project in Sector 18 due to the developer's failure to settle dues amounting to Rs 136 crore. The shops, located in Wave Silver Tower, will be auctioned with reserved prices ranging from Rs 48 lakh to Rs 2.7 crore. This action is part of the administration's efforts to collect outstanding dues from developers and hold them accountable.Read more

PNT Reporter

22 May 2023

The Residents Welfare Association (RWA) of Raheja Atlantis in Gurugram Sector 31 has received a show-cause notice from the Department of Town and Country Planning (DTCP) for the illegal building of businesses in common spaces. The letter makes clear that the society's pharmacy, grocery store, coffee shop, and salon were all constructed without the necessary permits, in violation of Section 3B of the Haryana Development and Regulation of Urban Areas Act. The RWA asserts that the buildings were designed for the convenience of older persons, but they will abide with the rules if the department has concerns.Read more

PNT Reporter

19 May 2023

The Directorate of Enforcement (ED) has begun investigating real estate developer Ansal API, following complaints of financial irregularities in their Lucknow township project. The probe is primarily focused on the company's Gurgaon project and potential violations of the Prevention of Money Laundering Act. Ansal API, whose promoter denies any economic offense, was admitted for insolvency proceedings in November 2022. This investigation marks a significant step in the government's efforts to address economic crimes in the real estate sector.Read more

PNT Reporter

16 May 2023

The Noida Authority has given Supertech's chairman, R.K. Arora, ten days to pay the INR 26 crore ($3.5 million) worth of recovery certificates (RCs) issued by UP-RERA that the company has not yet fulfilled. Last week, the Supertech chairman committed to paying INR 2 crore ($270,000) and making settlements of INR 5 crore ($670,000), pledging that the company will soon pay the remaining dues. This move is part of the district administration's drive to collect Rs 503 crore against 1705 RCs issued by UP-RERA to 101 developers.Read more

PNT Reporter

16 May 2023

With a top-line potential of INR 1,300 crore (about $175 million) and an estimated saleable area of 1.9 million square feet, Kolte-Patil Developers has announced the signing of two new residential development projects in Pune, India. The business has purchased 5 acres of land in Wagholi to build the MIG residential project there. It has also formed a joint venture to build the NIBM Road premium residential project. With these initiatives, Kolte-Patil hopes to solidify its dominance in Pune's high-potential micro markets.Read more