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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 […]

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 […]

RERA has revived home sector demand

RERA has revived home sector demand

SBI is seen to be among the major gainers from the government’s move to inject equity into state-run banks to enable them to lend more and spur economic activity. In an interview with TOI, Rajnish Kumar, the newly-appointed chairman of the country’s largest bank, talks about signs of change in the economic situation and expects […]

Law to curb false advertisements for buyer safety soon: PM Modi

Law to curb false advertisements for buyer safety soon: PM Modi

NEW DELHI: Government will bring in a new law to crack down on misleading advertisements and set up a central authority to fast-track redressal of consumers’ grievances, Prime Minister Narendra Modi said on Thursday . The proposed law, awaiting Cabinet approval, provides for fine up to Rs 50 lakh and up to three years’ ban in case of misleading […]

HC sets 2021 deadline for builder in Powai

HC sets 2021 deadline for builder in Powai

MUMBAI: The Bombay High Court on Tuesday directed Lakeview Developers run by the Hiranandani group to construct around 2,398 affordable houses in Powai before June 1, 2021, according to the undertaking given by them. The developer will have to build around 887 flats of 861 square feet each and 1,511 flats of 430 square feet each.A specified number of flats would have […]

Happening hubs

Happening hubs

Undri-Pisoli belt is getting lots of focus from the homebuyers due to the availability of homes within their budgets. Pune’s outskirts are growing at a faster pace. They sport a new look with sound civic infrastruc ture and good residential project. Ample availability of land sets Pune apart. With the residential realty market in the […]