Under Construction property 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, along with four other construction companies has shown interest in buying insolvency-hit Jaypee Infratech. On August 9, the Supreme Court (SC) 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.

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.