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Bombay high court to rule on validity of RERA Act today

Bombay high court to rule on validity of RERA Act today

The Bombay high court will on Wednesday pronounce its judgment on the validity of the Real Estate (Regulation and Development) Act. The judgment is much awaited by all stakeholders in the real estate industry, especially builders. Last month, the HC had concluded hearing of arguments in a clutch of petitions filed by builders that challenged the constitutional validity of various key […]

More homebuyers approach cops over delay in handing over flats

More homebuyers approach cops over delay in handing over flats

The economic offences wing (EOW) of city police has taken over probe into complaints against directors of JVPD Properties Ltd for allegedly cheating 96 homebuyers. The complainants told police the builder failed to hand over flats for which they have so far paid Rs 28 crore. Till now, four FIRs have been lodged against the builder over delay […]

FLAT BUYERS TAKE BATTLE FOR RIGHTS TO SUPREME COURT

FLAT BUYERS TAKE BATTLE FOR RIGHTS TO SUPREME COURT

Petition challenges constitutional validity of some sections of bankruptcy law, saying they deprive buyers of a mechanism to recover their money. Flat buyers fighting to save a stalled project of Orbit Corporation in Lower Parel have challenged the constitutional validity of certain provisions of the bankruptcy law, which they say leaves them without any means […]

DLF promoters to put 11k cr, board OKs QIP

DLF promoters to put 11k cr, board OKs QIP

DLF’s board on Friday approved issue of debentures and warrants to promoters in lieu of Rs 11,250-crore equity infusion into the company, as part of its objective to reduce net debt. The board also gave its nod to selling shares through public issue or private placement to institutional investors. The company is estimated to raise […]

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 […]

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 […]

Housing firm VBHC Value Homes plans IPO by 2019

Housing firm VBHC Value Homes plans IPO by 2019

The company, co-founded by Jaithirth Rao and P S Jayakumar, is backed by a number of investors including Japanese real estate conglomerate City-based affordable housing firm VBHC Value Homes is planning an initial public offering (IPO) by 2019. The company, which plans to raise upward of ₹1,000 crore, intends to use the proceeds to expand operations across […]