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Ready flats are top picks as builder delays rise

Ready flats are top picks as builder delays rise

Homebuyers are increasingly showing a preference for buying ready-to-move-in apartments against under-construction homes as builder delays and defaults increase. The trend indicates that consumers are more interested in certainty related to such ready apartments than saving money by booking an under-construction apartment that offers deferred payment facility. Taking a cue from this, real estate developers […]

Small rise in home loan default in 2 years

Small rise in home loan default in 2 years

MUMBAI: Auto and home loans have seen a marginal increase in the ratio of delinquent accounts—failure to make timely payment—over the last two years. However, gold loans and two-wheeler loans have witnessed a reduction in delinquencies. A report by credit information bureau TransUnion Cibil (TUCIBIL) has shown that the overall delinquency rates in retail have been stable while variation in […]

Churchgate-Virar AC local may have only 7 stops

Churchgate-Virar AC local may have only 7 stops

When the much-awaited first air-conditioned local train, between Churchgate and Virar, starts service on January 1, it is likely to halt at only seven stations. The Western Railway has decided to limit the number of halts initially because the technology used for the AC rake has been untested with passengers, sources say. “The train will run between Virar and […]

Be a good kid and pay up, SC tells builders Jaypee

Be a good kid and pay up, SC tells builders Jaypee

The Supreme Court on Wednesday allowed Jaiprakash Associates to pay in instalments Rs 2,000 crore that its subsidiary, Jaypee Infratech, owes to homebuyers. The Union government has asked the Uttar Pradesh state government to implead itself in the ongoing case in the Supreme Court regarding real estate developer Jaypee Infratech’s bankruptcy on the grounds that […]

Sharapova named in India luxury housing fraud probe

Sharapova named in India luxury housing fraud probe

Five-time Grand Slam champion Maria Sharapova is under investigation in India for cheating and criminal conspiracy after the collapse of a luxury housing project that she endorsed, police and a lawyer said Tuesday. The firm behind the development is alleged to have taken millions of dollars from homebuyers before the project folded. “We have registered […]

Mumbai likely to get 8 new pools, sports complex at Andheri

Mumbai likely to get 8 new pools, sports complex at Andheri

Budding athletes and fitness enthusiasts have a reason to cheer as the city is set to get eight new swimming pools and a 12-acre sports complex at Andheri, if a grand plan of the BMC succeeds. The new pools planned will be at Worli hill reservoir, Vikhroli, Malad, Kondivita in Andheri (east), Gilbert Hill in […]

Plot owner or society not liable in case of default by builder

Plot owner or society not liable in case of default by builder

MUMBAI: Faced with litigation, the Maharashtra Real EstateRegulatory Authority (MahaRERA) has informed the Bombay high court that it has rolled back a May 2017 order that had the effect of holding a housing society or plot owner responsible for violations or irregularities committed by the developer under the new housing regulation law. In an affidavit filed before the […]