PNT Reporter

MahaRERA has issued show-cause notices to 14 projects after taking note of advertisements published by these developers without a registration number. The regulator has asked all these projects to present their case within 7 days from the date of notice, and the errors are expected to be rectified within the prescribed period. The advertisers without registration numbers include 5 developers from areas near Mumbai, 3 each from Pune, Nagpur area, 2 from Nashik, and 1 from Aurangabad.Read more

PNT Reporter

The Delhi High Court has rejected a request by several homebuyers to direct banks and financial institutions to stop charging equated monthly instalments (EMIs) until property developers have delivered the possession of their flats. The petitioners who took home loans based on subvention schemes claimed the banks had not followed RBI guidelines and demanded repayment from them. The court has said that the cases are contractual in nature and that some of the agreements provide for arbitration between the parties. The court further noted that the violation of RBI Circulars is a complex and disputed question of facts that can be resolved through alternative forums.Read more

PNT Reporter

The Bombay High Court has directed the Brihanmumbai Municipal Corporation (BMC) to frame guidelines for the use of cranes in high-rise constructions. The decision comes in light of a petition filled by the Lokhandwala Residency Tower Co-operative Housing Society. The petition was triggered by the death of two individuals resulting from construction work carried out by a developer of Four Seasons Private Residences Phase I and II on the plot adjacent to the Lokhandwala Residency Tower Co-operative Housing Society in Worli.Read more

The Department of Town and Country Planning (DTCP) in Gurgaon has formed three teams to inspect properties for which architects issued occupation certificates under the state's self-certification scheme. The teams will be composed of assistant town planners and seven junior engineers who will verify if the OCs are sound and submit a report for at least 10% of all OCs granted within three days. The move aims to ensure that the scheme is not being misused and that buildings have been constructed according to regulations.Read more

The Odisha state cabinet has given its approval to the Odisha Apartment (Ownership & Management) Bill, 2023, to make the laws governing housing projects comply with the Real Estate (Regulation and Development) Act, 2016. The bill is expected to be tabled in the current session, after the Orissa high court expressed hope that the state government would be ready with a RERA-compliant bill during the ongoing session scheduled till April 6.Read more

The Delhi High Court has ordered slum dwellers on the Yamuna floodplains to vacate their homes within three days. If they fail to do so, they will have to pay Rs 50,000 each to the Delhi Urban Shelter Improvement Board (DUSIB) and the Delhi Development Authority (DDA) will proceed with the demolition. The court has taken this decision after being informed that a committee headed by the lieutenant governor has issued directions to clean the Yamuna River due to its pollution levels, which were brought to the attention of the National Green Tribunal (NGT) on January 9.Read more

Godrej Properties Ltd and Orris India Private Limited (OIPL) are embroiled in a dispute over their Gurgaon-based Air residential project. OIPL has accused Godrej Properties of diverting funds from the project to other companies, a claim the latter denies. Orris Infrastructure and Godrej Properties entered into an agreement in 2017 for project development where the profit ratio was decided at 62.5% and 37.5%, respectively. The court has appointed an investigation officer to probe the allegations and submit the report for further action.Read more

The Ahmedabad Urban Development Authority (AUDA) has decided to increase the development charges by 20 times more than the existing rates. This decision has been taken to increase the revenue and promote the development of the city. The new rates will likely be less than Rs 100 per square meter. Experts believe that this increase in development charges, coupled with the increased jantri rates, will result in a hefty rise in property prices in AUDA areas around Ahmedabad city in the coming months.Read more

Last week, the Bombay High Court threatened to file a contempt case against Captain Tamil Selvan, a BJP MLA from Sion Koliwada for interfering with an SRA official's attempt at an eviction drive. The HC instructed the police to detain him if he disrupts law and order. A petition for contempt of court filed by SD Corp which is working on a redevelopment project in Antop Hill was being heard in court. 820 of the 850 slums that SRA classified as eligible huts were handed possession of alternative housing.Read more

The Mohali Greater Development Authority (GMADA) has raised Rs 1,935.88 crore through the e-auction of commercial and residential properties in the city. The auction included properties such as booths, SCOs (Shop-cum-Office), hotel sites, nursing homes, schools, and residential plots. The e-auction was conducted through a centralized online platform, which ensured transparency and fairness in the bidding process. The successful bidders will have to make the full payment within 30 days from the date of auction.Read more