06 Jan 2023

The Chennai Metropolitan Development Authority (CDMA) has set up a seven-member team to prepare guidelines for the reclassification of land use in the city. The new guidelines will be presented in the next authority meeting. The decision to do so has come about due to several protests conducted by civilians and housing societies over reclassifying areas that have been marked as waterbodies in the second master plan. Over fifty files are likely to be placed for reclassification during the authority meeting.Read more

06 Jan 2023

The government of Karnataka recently amended the Land Revenue Rules of 1966, effectively reducing the notice period of mutation of registered and unregistered documents. Mutation is the process by which the title of a property is changed in municipal records once the property has transferred to the new owner. However, despite the new reforms the process remains as sluggish as ever, making homeowners anxious as they feel they're under undue risk till the process is completed. The process of mutation is applicable to residential properties, and all types of land including those meant for agricultural or commercial purposes.Read more

05 Jan 2023

A Delhi Court has summoned the managing director of Suptertech Limited, Mr Ram Kishor Arora over a case filled by Gaurav Vij claiming the former engaged in a criminal break of trust and forgery. Mr Vij alleges that he had given the company a sum of money, through its representatives, for a short-term investment in September 2012. However, in June 2013 he became aware that the company had used the money to book a flat in his name in one of their Gurgaon housing projects. He claims that despite voicing his concerns on paper, the MD and other directors did not do anything to help him and continued to mislead him.Read more

04 Jan 2023

Earlier last week, the Kanpur Development Authority was finally given the go-ahead to demolish an illegal plotted developed spanning 12 acres in Pyondi village, behind Chakeri Airport. The offender Mr Umar Lar had been illegally developing the land by constructing boundary walls, building DPC and CC road, installing sewer lines and power poles. In doing so, he violated the requirements of the 1973 UP Urban Planning and Development Act as well as KDA regulations as the site plan does not allow for such modifications.Read more

04 Jan 2023

The National Firm Law Tribunal (NCLT) Mumbai's bench granted the lender IDFC First Bank's request to put Pune based real estate company Marvel Realtors & Developers into administration after the real estate company defaulted on more than 44 crore rupees worth of debt. The developer took a 48-crore term loan from IDFC First Bank in July 2017 at an annual interest rate of 17.5%. The loan was to be paid off in 48 monthly instalments with the principle to be paid up in 10 instalments.Read more

03 Jan 2023

The Uttar Pradesh Real Estate Regulatory Authority has issued a statement claiming that it has disposed of over 9,000 complaints in the year 2022 alone. The regulatory body received a total of 6,900 complaints in the year, with the highest inflow in March at 695 complaints and the lowest in December with 320 complaints. The three-member bench consisting of a secretary and chairman is said to have addressed and disposed of 25 cases a day on an average. Established in 2017, the UP RERA has received approximately 47,000 consumer complaints, which accounts for approximately 38 percent of the total complaints filled across the country.Read more

30 Dec 2022

The Delhi High court has summoned the directors of Ansal Properties and Infrastructure, in response to a plea by 126 buyers of Ansal API's real estate project, The Fernhill, located at Sector 91, Gurgaon. In their petition, they buyers had alleged defaults on the part of Ansal API in delivering the project within the promised time frame as well as the grace period provided under the clauses of the builders-buyers agreement. The directives stated that a status quo was to be maintained regarding title and possession of the properties including the plots in question. The court has summoned them stating that the real estate developer in coalition with a finance company have misled the court by manner of concealing material facts, and by acting in a manner so as to disregard and frustrate the orders of the court.Read more

29 Dec 2022

The National Consumer Disputes Redressal Commission (NCDRC) has directed Raheja Developers to compensate a homebuyer for delay in delivery and possession of a Villa in their Gurugram project. The homebuyer had booked a villa in phase 1 of “Raheja Aranya City” in 2012 and paid multiple instalments over the years. The builder cited force majeure as reasons for the delay, however the NCDRC has rejected this claim and asked them to compensate the buyer to the tune of Rs 1.2 crores plus Rs 50,000 for litigation costs. The builder has been given six months to execute the order, after which an additional penalty of 15 per cent simple interest per annum will be added for the period of delay.Read more

29 Dec 2022

Earlier this week, in a bid to provide respite to homebuyers and developers, the boards of Noida and Greater Noida civic authorities approved several amendments to their policies pertaining to housing. The most notable amendments include changes to the rescheduling of dues wherein a builder or buyer can reschedule payment on an outstanding for up to two years. The authorities amended the time extension policy to allow new projects to request for up to 13 years of extension. Structural audits will have to be carried out the at the cost to the builders for the first five years of issuance of the occupancy certificate. Lastly, All pet owners will have to register their cats and dogs with concerned authorities.Read more

29 Dec 2022

According to a report filled by an Interim Resolution Professional (IRP) with the National Company Law Appellate Tribunal (NCLAT), Supertech has allegedly offered possession to homeowners across 148 towers, plots and villas without having procured an occupancy certificate for the same. Approximately 9,000 flats in 18 projects are already occupied. According to the management Supertech has applied for the OC for all these projects and all other approvals and NOCs have been procured. However, their application for the final OC has been held up by local authorities on account of outstanding dues payable by the company.Read more