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News Updates

13 Feb20

Difference Between Home Buyer's body and Insolvency Law

Homebuyers body FPCE disagrees with an amendment in insolvency law by stating at Parliamentary panel on finance that there should be a doorway for the property owners or buyers to seek in front of National Company Law Tribunal (NCLT) to raise problems against default developers. A letter from Forum of People’s Collective Effort (FPCE) has been provided to JayantSinha, chairperson of the Standing Committee of Finance. In the last session of the Parliament, the amendment of the Insolvency

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05 Feb20

How Can People Find Real Estate Consultant?

Before starting a business of real estate consultancy, they should strategize in what they will start and execute it. For that, they should follow the basic steps to start and make a secure place for the business.  Networking : No one can stand out from the crowd to make yourself established in this field. For that, every business person needs to connect with the reputed builders and also need to get associated with the market influencers who have the potential to promote a

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04 Feb20

What Indian Realty Sector Availed in 2020 Budget?

A second budget in 2020 has been introduced by the finance ministry; Nirmala Sitharaman is the Union Budget of 2020-21 on February 1. Nirmala Sitharaman explained that the dynamics of the economy have a drastic change and also bought stability in the conditions of macroeconomy. Banks are ensured to clear the loans generated previously and also used for recapitalization. IBC got the providence of exit from the companies. To grow the economic situation, there were several steps are also kept in

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28 Jan20

Post RERA Directives On Issuance Of Advertisements

Section 37 of the RERA Act and rules made thereunder envisages that the authority has the right and allowed with the power to generate directions in the proper time to the real estate agents, allottees and promoters as it is considered as necessary for them. Karnataka RERA has recently given directives for displaying/advertising of the real estate projects on Print Media, outdoor hoardings, FM Radio or via SMS on electronic media, the listed factors below should be mentioned: The Registration

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12 Dec19

MahaRERA ! Developer Recompense 10Lakh Reselling The Booked Flats

The developers of Navi Mumbai need to pay the compensation of 10Lkh for illegal practice of reselling the booked flats from one buyer to another buyer that too after getting two legal notices. The MahaRERA  directed to refund the amount of rs35 lakh along with the interest. Property in Kolkata is associated with the regulations of RERA and WBHIRA so that the developer cannot misuse the innocence and money of the buyers. Bhalchandra Kapandis, one of the members of MahaRERA 

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10 Dec19

285 Pending Warrants Issued to the Builders Studied by Maha RERA

The recovery warrant orders have been issued on the developers for the unpaid amount (interest, compensation, penalty) that has to given to the home buyers. Around 285 pending recovery warrant orders issued on developers for incomplete projects and MahaRERA (Maharashtra Real Estate Regulatory Authority) are trying to help them out by starting at least 50% of buyers to provide the deal of completion of all projects under another set of new developers. The section 40 of the RERA Act clearly

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28 Nov19

Relief measures taken by the government to help NBFCs and real estate sectors from stressed assets

The central government is emphasizing on the relief measures to help NBFCs and real estate which are full of stressed assets. The government wants to take some steps to maintain a fluid cash flow and to change the bad time of the Indian economy when banks are also taking back steps to lend money.  The government is willing to unburden the NBFCs from stressed assets by applying some measures on this condition where stressed assets of the realty sector which deals with Property in kolkata

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18 Nov19

Can RERA overturn ‘forced consent’ agreements procured by builders for changing project plans?

To maintain a clean and clear declaration in the buying process of properties, the Indian Government started an act in May 2016. The full form of RERA is the Real Estate Regulatory Authority. To follow the rules of RERA , the developers are bound to inform all the information's about the construction process they look after to provide the keys according to the mentioned date. To buy Property in Kolkata  the buyers know all the details and plans about the construction proceedings to

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13 Nov19

HOWL OR FOUL : REAL ESTATE REVIVAL PACKAGE

Government of India has recently announced the Real Estate Revival Package (Special Window OR Alternative Investment Fund - AIF) of Rs. 25,000 Cr. (by Government of India Rs. 10,000 Cr. and the rest 15,000 Cr. by SBI, LICI, etc.) as debt financing for stalled affordable & mid-income housing segment projects. “We welcome the move by government of India to revive Indian real estate industry. However, there are critical issues which need clarifications like – What about the

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26 Oct19

The Cry of Glory for Maharashtra Developers

This month has been a great moment for CREDAI – MCHI (Confederation of Real Estate Developers Association of India – Maharashtra Chamber of Housing Industry). For the upcoming five years starting from 22/10/2019 they have been granted exclusive rights to act as Self Regulatory Organization (SRO) promoters whose projects are registered with Maharashtra Real Estate Regulatory Authority (MahaRERA). CREDAI with its registered office at Maker Bhavan – II, 4th Floor, 18, V,

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