Tag: real estate news 2017

Yamuna Expressway Industrial Development Authority cancelled the land allotment of 7 builders over dues

Yamuna Expressway Industrial Development Authority cancelled the land allotment of 7 builders over dues

Yamuna Expressway newsGreater Noida: Yamuna Expressway Industrial Development Authority YEIDA on Friday canceled allotments of 7 builder’s housing land for over dues. The officials said that the process of cancellation of the seven allotments is started.

The list of seven defaulters involve 5 housing builders and 2 institutional groups who owes approx 525 crore dues to the authority.

Arunvir Singh, CEO, YEIDA said that “We have started issuing show-cause notices to the developers as they have not fulfilled their commitments in keeping with the rescheduled payment plan policy offered to them last year”

List of defaulters

  • 3C Homes Pvt Ltd in sector 22A
  • 3C Residency Pvt Ltd in Sector 18
  • HC Infrcity Pvt Ltd in Sector 22D
  • Sukriti Infrcon in Sector 22D
  • Sunwhite Infratech in Sector 18
  • Tyag Buildspace in Sector 17A
  • MMA Grains in Sector 17A

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नोएडा अथॉरिटी ने किया इन बिल्डर प्रोजेक्ट्स को डिफॉल्टर घोषित

नोएडा अथॉरिटी ने किया इन बिल्डर प्रोजेक्ट्स को डिफॉल्टर घोषित

25 feb..pngनोएडा और ग्रेटर नोएडा में कुछ ऐसे बिल्डर है जिन्होंने ग्रेटर नोएडा अथॉरिटी से नक्शा अप्रूव नही करवाया और प्रोजेक्ट बना रहे हैं। और ये बिल्डर अथॉरिटी के डिफॉल्टर भी माने जा रहे हैं नोएडा अथॉरिटी ने दावा किया हैं कि अभी तक इन बिल्डर प्रॉजेक्ट्स में किसी ने भी बुकिंग नहीं कराई है। और नोएडा अथॉरिटी ने इन सभी बिल्डर प्रॉजेक्ट्स को अलॉट जमीन कैंसल करने का नोटिस भी भेजा है।
नोएडा अथॉरिटी के कुछ अफसरों से जो जानकारी मिली है उसके अनुसार ग्रेनो और ग्रेनो वेस्ट मैं ७ ऐसे प्रोजेक्ट्स हैं जहाँ पर अलॉटमेंट के काफी वर्षों के बाद भी बिल्डिंग का नक्शा भी अप्रूव नही करवाया हैं और ना ही बिल्डर ने नोएडा अथॉरिटी की किस्त समय से जमा की है बिल्डरों ने प्रॉजेक्ट सेटलमेंट पॉलिसी के तहत भी आवेदन नहीं किया है।
अथॉरिटी के CEO दीपक अग्रवाल का कहना है कि ऐसे सभी बिल्डरों को कारण बताओ नोटिस जारी कर दिया गया है। और इन सब बिल्डर को अथॉरिटी की क़िस्त जमा करवानी होगी और साथ मैं ये भी स्पष्ट करना होगा की नक्शा पास कराकर प्रॉजेक्ट पर काम क्यों नहीं शुरू किया? और नोएडा अथॉरिटी ने ये भी बताया है की अगर जवाब नही मिला तो एक तरफा कार्रवाई करते हुए प्लॉट का अलॉटमेंट निरस्त कर दिया जाएगा।

नोएडा अथॉरिटी ने इन बिल्डर प्रॉजेक्ट्स को किया है डिफॉल्टर घोषित।
1. अल्पाइन इन्फ्रा प्रोजेक्ट्स प्राइवेट लिमिटेड, प्लॉट नंबर- जीएच-16डी, सेक्टर-1
2. एआईएमएस गॉल्फ टाउन डिवेलपर्स प्राइवेट लिमिटेड, प्लॉट नंबर 1 जीएच-4, सेक्टर-4
3. वर्धमान रियलटेक प्राइवेट लिमिटेड, प्लॉट नंबर- जीएच-01, सेक्टर ईटा-1
4. गायत्री हॉस्पिटेलिटी एंड रियलकोन प्राइवेट लिमिटेड, प्लॉट नंबर- जीएच-11ए, सेक्टर-1
5. हाई-कास्टल रियलटेक लिमिटेड, प्लॉट नंबर-29, सेक्टर बीटा-2
6. गायत्री हॉस्पिटेलिटी एंड रियलकोन प्राइवेट लिमिटेड, प्लॉट नंबर- जीएच-11बी, सेक्टर-1
7. एसोटेक इन्फ्रास्ट्रक्चर प्राइवेट लिमिटेड, प्लॉट नंबर- 7, सेक्टर- पाई

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Home buyers association can directly file case in NCDRC: Supreme Court

Home buyers association can directly file case in NCDRC: Supreme Court

fbimageNew Delhi: Simplifying the process for home buyers of complaining against the builder, Supreme Court ordered on Tuesday that home buyers can directly approach the national consumer disputes Redressal commission (NCDRC) by forming a registered association, which will remove the multiplicity of cases for state and national consumer forums and save the time and money of homebuyers.

This remarkable decision of the apex court will help in making the judiciary process faster in real estate cases by dismissing the multiplicity of cases against builders and will help the national consumer forum to solve the case much faster.

Many of registered associations of home buyers are already running and fighting against the builders for their rights and this step by the Supreme Courts of India gives more power to them

Amrapali Sapphire Flat Buyers Welfare Association’s complaint on behalf of multiple buyers was challenged by the developer in court, objecting the right of consumer association to file a complaint. The apex court observed that it is the grievances of homebuyers that need to be looked into, informed Sahil Sethi, senior associate at law firm Saikrishna & Associates, who represented the Association.

“The apex court did not entertain our appeals and dismissed the same. We will be continuing the proceedings in NCDRC,” said Rakesh Kumar, advocate representing Amrapali Sapphire Developer.

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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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GIC Singapore may buy 40% stake in DLF worth Rs. 12000 crore.

GIC Singapore may buy 40% stake in DLF worth Rs. 12000 crore.

daily-newNew Delhi: DLF Cyber City Developers Limited (DCCDL), the rental arm of DLF group soon will be in a partnership 0f 60 – 40 with the GIC of Singapore, as the GIC leads the race to buy 40% stoke under a deal of Rs. 12000 crore valuing the rental arm at nearly Rs. 40000 crore.

These funds will be used by DLF in subscribing to Rs. 10000 crore preferential issues of DLF limited which will in turn retire some of its debts.

A DLF spokesperson declined to comment. “We do not wish to comment on speculation. We are in our silent period as our quarterly results are scheduled for February 14,” said the spokesperson.

The proposed transaction will reduce DLF Ltd’s debt in a two-step transaction. The promoters will pump Rs 10,000 crore into India’s largest real estate developer by purchasing shares in a preferential issue with funds raised from the sale of their stake in the company’s rental unit.

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Real estate agents sold government acquired land to builder for Rs. 1 Crore

Real estate agents sold government acquired land to builder for Rs. 1 Crore

Economic offences wing (EOW) registered a FIR against two real estate agents and 37 heirs of project affected people residing in Turbhe, Pune for allegedly sale of 1.7 hectare government acquired land to a builder for approx Rs. 1 Crore.

The accused Vijay Bapu Patil and other sold this land to two builders Anuj Goel and Gopal Mohata in 2015. The land belongs to local farmers and already acquired by the government for in 1965 for the Sion-Panvel highway.

The power of attorney for the land was in the name of the 3 key heirs including Bapu Patil, said senior inspector Shivaji Awate of EOW unit 1.

Currently a FIR is registered at APMC police station Pune on Friday against 39 accused persons.

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