In yet another jolt to the Uttar Pradesh government’s plan to build a residential hub on 2,000 acres in 11 villages in Noida Extension, the Allahabad high court on Tuesday, July 19, set aside the acquisition of 589 hectares in Patwari village.
The Confederation of Real Estate Developers’ Association of India (CREDAI) has asked builders, whose projects in Patwari have been affected by the high court order, to move the Supreme Court.
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has called for a strong and transparent regulator for the real estate sector for an orderly growth.
The Supreme Court on Friday, July 15, directed Sahara Group firm Sahara India Real Estate Corp to approach the Securities Appellate Tribunal against market regulator SEBI’s order directing the return of money collected from investors.
I don’t see any reason why there has been a general perception that the role of the government is to provide low cost housing unlike private developers.
The Government is likely to introduce a bill in the monsoon session of Parliament to protect consumers’ interests against dubious operators in the real estate sector.
The Supreme Court today, July8, rejected the Sahara Group’s plea to issue a notice to the government in connection to its dispute with market regulator SEBI.
Unitech Ltd is expanding its retail development business and plans to invest around Rs.2,000 crore over the next three years to develop about 2 million sq. ft of premium and luxury shopping malls.
Standard & Poor’s Rating Services on Monday, July 4, said the surge in real estate prices in some pockets in India could emerge as a credit risk for banks.
The proposed Real Estate Regulation Bill may be delayed.