Tag: real estate adviser

Pankaj Singh MLA Noida assured home buyers for providing solution soon.

Pankaj Singh MLA Noida assured home buyers for providing solution soon.

Noida: On Wednesday in a meeting with (Nefowa) Noida Extension flat owners welfare Association MLA Pankaj Singh assured the home buyers that he will personally look into this matter and visit all under construction buildings of Noida and Greater Noida to check the current situations of the projects.

Before the UP election 2017 home buyers had started a “No House No Vote” campaign but it was withdrawn after they got assurance from BJP national leader that they will implement real estate regulatory act (RERA) soon in the state.

Home buyers also requested the MLA Pankaj Singh to fix a meeting directly with CM Yogi Aditya Nath so that they can personally explain him about this issue.

Officials from Pankal Singh’s office said “ we will provide our full support and cooperation to the home buyers and also look into the matter of implementation of RERA in Uttar Pradesh…….read continue

“Fight for RERA” a group of home buyers fighting to save the RERA act from getting dissolved

“Fight for RERA” a group of home buyers fighting to save the RERA act from getting dissolved

Fight for RERA is a group of home buyers which is fighting for saving the RERA act from getting diluted and demanding a separate parliamentary committee on subordinate legislation of both the houses so that states will not be able to weaken the federal Act & cross check that all the rules are framed as per the RERA Act.home-buyers-fight-lobby

On May 1, 2016 when govt. of India introduced this act, asked all the states to submit final rules within six months but only Gujarat, U.P and Madhya Pradesh have submitted their rules and other states are still working over it.

Fight for RERA said that all these states have diluted the main bill and changed rules in favour of builders and sought COSL’s intervention to put a stop to this.

National Convener, “Fight For RERA” Abhay Upadhyay said that “Thus it became utmost necessary to refer the matter to supreme parliamentary body which acts as a watchdog for implementation of parliamentary legislation in letter and spirit,”

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The Supreme Court Ordered Unitech To Give The List Of Pending Cases Before Fiasco.

The Supreme Court Ordered Unitech To Give The List Of Pending Cases Before Fiasco.

imageThe Apex court on Monday ordered real estate firm UNITECH to propose a list of pending cases against it in various consumer redressal and the amount aggregated in these cases.

Justice Dipak Misra asked to present a list of persons who have got their result in favour of disputes before the consumer fora.

The jury by the bench which includes Justice A M Khanwilkar and M M Shantanagoudar came after Unitech’s layer said they would create and present comprehensive proposal for utilising the amount and the orders of the National Consumer Disputes Redressal Commission (NCDRC).

The jury bench also stated the matter for hearing on March 27.

The Counsel present for home buyers said if the firm has committed to pay, it must take into consideration the amounts awarded by NCDRC and the victimized buyers who are still fighting for their rights in different consumer redressals.

He said, “We do not want the apartments. We want our money back”.

To this, the jury bench observed it was concerned with refund of money to home buyers and “whosoever has come to the court, they must be given back their money”.

Unitech’s lawyer asked for some time to submit a comprehensive proposal on the issue.

Later, on Feb 20, the apex court has imposed a penalty on Unitech Resorts for delaying handing over of flats and ordered the firm to deposit 14% interest on Rs.16.55 crore invested by 39 home buyers with it.

The 39 home buyers, who pushed the court, had booked flats in Unitech’s Vista housing project in Gurugram. They holded their refund of their principal amount, a staggering total of Rs.16.55 crore with interest, after the developer, which had promised to give the possession by 2012, delayed it.

The consumer forum asked the Unitech firm to refund the money with interest to the home buyers.

Source : ET Realty

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True North Raised Its Stakes By Rs. 600 Crore For Being Home First Finance Company

True North Raised Its Stakes By Rs. 600 Crore For Being Home First Finance Company

Finance company

NEW DELHI: Homegrown private equity firm True North, formerly Indi-an Value Fund, has entered into a binding agreement to acquire a majority stake in Home First Finance Company (HFFC) for about $100 million (Rs 600 crore), valuing the mortgage firm at $150-175 million, said a person involved in the transaction.

HFFC, promoted by former Mphasis chairman Jaithirth (Jerry) Rao and PS Jayakumar, former Citibank Consumer banking head, is primarily en-gaged in funding affordable housing. Set up in 2010, the company aims to serve the mortgage needs of low and middle income customers purchasing first homes. The company has disbursed home loans worth more than Rs 1,000 crore to over 10,000 families in 30 cities.

The proposed transaction involves a secondary sale by existing shareholders and fresh issue, said the person cited above. HFFC raised capital from Bessemer Venture Partners and Tata Capital Growth Fund in earlier rounds, giving them a 45-50% holding. Rao and Jayakumar together have about 40% and the rest is with management under the leadership of CEO Manoj Viswanathan.

Source : ET Realty

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आम्रपाली के विरुद्ध रियल्टी मीडिया की मुहिम – Realty Media

आम्रपाली के विरुद्ध रियल्टी मीडिया की मुहिम – Realty Media

amrapali.jpgनई दिल्ली: भारत की राजधानी दिल्ली से सटे इलाके ग्रेटर नॉएडा मे कई रिहाइशी प्रोजेक्ट्स के नाम पर धोका धडी करने वाली कंपनी Amrapali का कर्ताधर्ता अनिल शर्मा इन् दिनो media से नजरे चुरा रहा है |

लोगो में बढ़ता गुस्सा इस बात का सबूत है की Amrapali लोगो से किये गए वादे पूरे करने में असमर्थ है और कई हज़ार करोड़ के घोटाले को अंजाम दे चूका है | लगभग 17 से भी ज्यादा Amrapali की आवासीय योजनाएं तकरीबन 7 साल से भी ज्यादा समय से पूर्ण रूप से बंद पड़ी है और दिन-ब-दिन लोग अपना घर पाने की उम्मीद खोते जा रहे है |

प्रशासन द्वारा की जा रही इस अनदेखी को सरकार पर पूंजीपतियों  का दबाव समझा जाये या फिर उनकी लापरवाही क्योकि अनिल शर्मा पर अब तक की गई कार्यवाहियों का कोई असर दिख नहीं रहा है और जनता इस बात से भी अनजान है की अनिल शर्मा इस समय भारत में है या फिर विजय माल्या और ललित मोदी की तरह देश से फरार हो चूका है |

रियल्टी मीडिया की Amrapali ग्रुप के खिलाफ की गई इस पहल और बुलंद आवाज़ से आज कल चुनावी माहोल में नेताओं को नया मुदा मिल गया है सपा के मंत्री रविदास मेहरोत्रा अपने एक बयान में अनिल शर्मा क देश से फरार होने का कयास लगा चुके है | पर कई हज़ार करोड़ का ये घोटाला सिर्फ एक चुनावी मुदा बनकर ना रह जाये इसके लिए रियल्टी मीडिया अपनी मुहीम पर अटल रहेगा |

अब देखना यह है की क्या सरकार अनिल शर्मा और Amrapali ग्रुप पर जल्द कोई ठोस करवाई करेगी या फिर इससे भी फरार होने का पूरा वक़्त दिया जायेगा।

 

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Justice served: Supreme Court ordered UNITECH to pay per annum 14% fine to home buyers

Justice served: Supreme Court ordered UNITECH to pay per annum 14% fine to home buyers

Screenshot - 2_21_2017 , 12_49_32 PM.pngNew Delhi: providing justice to home buyers the Supreme Court of India on Monday gave a big setback to Unitech builder for delaying in possession of its project Vistas at Gurugram.

The court ordered Unitech to pay 14% per annum interest to home buyers applicable from January 1, 2010  which will be in addition to the amount of Rs. 16.55 Crore, already paid by builder to home buyers.
The interest component of 14% is not final and the interest might even go up, according advocate Pawanshree Agrawal, who represented the aggrieved buyers.

“Just half the battle is won till now. The court has fixed the interest component at 14%, however, it said that further decisions on the interest component and compensation would be taken at the next date of hearing,” he informed.

All of us are happy to see Unitech finally getting punished for the lapse. We hope that the court will give us compensation for mental agony as well so that we can buy homes,” said Prasoon Dubey, one of the buyers.

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Godrej Properties invests Rs 280 crore from 2nd residential realty fund

Godrej Properties invests Rs 280 crore from 2nd residential realty fund

screenshot-2_20_2017-2_20_01-pmNEW DELHI: Godrej Properties has invested Rs 280 crore across two deals in Bangalore and Thane so far from its $275 million residential real estate platform formed in association with Dutch pension fund APG Asset Management.

The platform named Godrej Residential Investment Program II made its first investment by acquiring 80% of the equity share capital in Godrej Greenview Housing, towards investing into the project Vihang in Thane in June last year.

It also acquired a 12-acre land parcel off Sarjapur Road in South Bengaluru to develop around 1-million sq ft residential project on this plot.

“We have invested in two projects so far – a 12 acre residential project in Sarjapur, Bangalore and a 6.5 acre project in Ghodbunder, Thane,” a company spokesperson said.

Godrej Properties has also fully committed its another $200 million residential development fund set up with an APG led investor consortium in 2012.

“The fund is fully deployed across four projects of Godrej Prime in Mumbai, Godrej Platinum in Delhi, Godrej Eternity in Bangalore and Godrej Aria/101 in Gurgaon,” the spokesperson said.

The Mumbai-based developer last year also created a separate real estate fund management business in India and Singapore named Godrej Fund Management, which will be responsible for managing both the series of the residential investment programmes and any future association as well.

news source – ET realty

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