Adi Heritage

While buyers are demanding rationalisation of circle rates, they are also asking the state government to allow them to register their property on the basis of first sale consideration amount. A call on their demand could be taken on a meeting scheduled on June 6.

The Kolkata Municipal Corporation has identified 1,500 structures that are unsafe. In the face of protests from residents who have no alternative arrangement where they can stay, civic authorities have sought express notice from the municipal corporation and have planned to raze such structures before the monsoons this year.

The Noida Authority is seen trying every trick in the book to recover over Rs 20,000 crore from 94 developers who have failed to deliver their projects, and who have in turn not been able to pay their dues to the said authority.  Between May 7 and May 12, the authority would issue a list of “reliable” developers in order to dispel “negativity” in Noida’s real estate sector.

Real estate developers who have not been able to deliver their residential projects in Ghaziabad are staring at touch action. On April 23, Uttar Pradesh Urban Development Minister Suresh Khanna said that legal action would be taken against builders who had failed to deliver while stating that the state government was committed to guard the interest of homebuyers. Khanna is a part of a three-member team that was appointed by Chief Minister Yogi Adityanath last year to resolve the issues of homebuyers in the twin cities of Noida and Ghaziabad.

In a recent hearing on May 16, the Supreme Court has stayed the liquidation proceedings against the Jaypee Infratech and has asked the builder to deposit Rs 1,000 crore by June 15 to refund homebuyers. Now, the matter has been listed for hearing on July 4.