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Developers from Noida and Greater Noida failed to find Homebuyers as the Authorities are demanding a heavy price for ready flats, which buyers find unreasonable.
A group of villagers, from whom Today Homes got land, took physical possession of the project and put up a notice at the gate of the nearly fully booked but incomplete housing society.
Every project where the development work is still not completed at the time of the commencement of the RERA Act, will be considered as an ongoing project whether or not the application for completion certificate is filed before a competent authority.
By the reduction of duties to be paid at the time of registration, the real estate sector would witness the much-needed boost in demand.
NBCC took over the project in July on the SC orders after a petition by homebuyers following the Amrapali Group’s failure to deliver more than 30,000 flats in 15 projects. According to NBCC they will hand over at least 150-200 flats every month from august.
Haryana gvernment is going to bring an ordinance to amend the Haryana Development and Regulation of Urban Areas Act, 1975 for preventing fraud in registry of land.
The Finance Minister disclosed that the stimulus package is a 15 step measure, the Tranche 2 announcement on 13th May 2020 disclosed 9 steps so far and that further steps to actualize the goals of AatmaNirbhar Bharat
Due to COVID-19 the most affected have been the real estate industry as both the demand as well as the supply side has been adversely affected.
The promoter is under obligation to pay interest on the amount paid by allottee from the date of payment till the possession is handed over to allottee.
It was observed that once the complainant has given the aforesaid consent he cannot withdraw it as respondents have acted upon the same.
Due to the unavailability of funds from banks and developers getting bankrupt, small developers will get into joint ventures, mergers, and acquisitions for their survival within the market.
Real sector is backbone of economy; hence Government is doing every best either in way to introduce new laws or new AIF funds. We advice to make best of this opportunity.
Centrik is feeling proud to being helping hand to the 144 aggrieved homebuyers to get justice on handover stalled projects.
A brief of verdict given by the Supreme Court on July 23, that the Amrapali Group has violated the doctrine of public trust by permitting diversion of funds of homebuyers.
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