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- Through an order in 2011, the Supreme Court held that transferring property title through a general power of attorney was not valid. The top court directed municipal bodies not to register/mutate properties based on these documents. Following the order, states banned the registration of properties sold through GPA. The SC, however, said that genuine transactions carried out through GPA would be valid. In light of this, should you be entering property transactions that involve sale through power of attorney? Let us find out.
NBCC, L&T Among 5 In Race To Buy Insolvency-Hit Jaypee InfratechNational Building Construction Company, along with four other construction companies, has shown interest in buying insolvency-hit Jaypee Infratech. On August 9, the Supreme Court had handed over the case to the Allahabad Bench of the NCLT for resolution in six months. Last year, when Lakshadweep Pvt Ltd, a joint venture between Sudhir Valia-led Suraksha Asset Reconstruction Company and Mumbai-based Dosti Realty, won the bid to buy the company for Rs 7,350 crore, Jaypee declined the offer on the grounds of undervaluation.
Upcoming Airports That Will Be A Game Changer For Real EstateIn a report by global consultancy and research firm Centre for Asia Pacific Aviation (CAPA), India's aviation industry will become the third-largest market in the world with regards to departures by 2019, and job creation by 2027. The report also focuses on the apparent saturation likely in existing airports in metro cities and the need to deploy more capacity in Tier-II cities. To welcome the new flyers, the government is developing 100 airports across various locations in the country.
All You Need To Know About Mhada Lottery 2018Under the Maharashtra Housing and Area Development Authority’s housing scheme for 2018, over 1,100 low-cost apartments will be sold in December. The authority will release an advertisement on November 5 announcing the housing lottery, with about 45 days available for homebuyers to apply. This year, about 500 units will be reserved for low-income group with 283 units for the economically weaker sections. MakaaniQ tells you all about the Mhada Lottery Scheme 2018 and the process for application.
Furnish Details Of All Properties By Dec 3 Or Face The Music: SC To AmrapaliGiving the embattled realtor the final chance to come clean on its “shady” dealings, India’s top court on November 20 told Amrapali Group to provide it by December 3 every little detail relating to the properties the company owned in India as well as abroad. After forensic auditors told the Supreme Court the realtor siphoned off Rs 100 crore of the homebuyers’ money on October 24, the top court said the “big racket” behind the “big fraud” must be unearthed.