Plots For Sale in Madurai

The Tamil Nadu government has allowed the use of property buyers’ Aadhaar card for verification purposes. Now, the sub-registrar will ask for the buyer's Aadhaar card to validate the details, and match it with the central servers maintained by the Unique Identification Authority of India. However, this process is consent-based. Earlier, the state registration department had made it mandatory that the parent document be provided at the time of registration.

It has been over a year since the Tamil Nadu Real Estate Regulatory Authority (TNRERA) came into force. How successful has been the regulator in guarding the interests of the homebuyers?

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.

National Building Construction Company (NBCC) is now planning to buy insolvency-hit Jaypee Infratech, a move that would help the public company to acquire land parcels in tony localities, Taj Expressway and Japyee Hospitals. NBCC will be competing with other construction majors, including L&T, Suraksha Asset Restructuring Company, Kotak group and ICUBE, which have shown interest in buying Jaypee Infratech, the sister concern of Jaiprakash Associates Limited (JAL). This is the second time process is on to acquire the insolvency-hit realtor.

In 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.