Properties posted by prem realtors
Lodha Gets Sebi Go-Ahead To Launch IPONine years after the Mumbai-based real estate giant first attempted to go public, Lodha Group has now received a go-ahead from markets regulator, the Securities and Exchange Board of India (Sebi) to launch its initial public offering. Expected to fetch the company about Rs 5,500 crore, the offering would be the country’s second-biggest property IPO ─ real estate giant DLF’s IPO of 2007 fetched the company Rs 9,200 crore, the highest in the country so far.
Now, Consumer Panel Tells Unitech To Refund Rs 1.10The National Consumer Disputes Redressal Commission had ordered the company to refund Rs 1.10 crore to Noida homebuyers who were not provided possession of their unit at the company’s Unitech Grande project even after five years of the scheduled date. An allotment letter was issued to Manish and Ruchi Gupta on June 25, 2010, in which the builder promised to deliver the unit within 30 months for a total amount of Rs 1.20 crore.
After UP, MahaRERA Issues Recovery Warrant Against BThe Maharashtra Real Estate Regulatory Authority has slapped recovery notices on at least 11 realtors in the past two months. These developers failed to comply with orders passed by the MahaRERA. Section 40 of the Real Estate (Regulation & Development) 2016, says that buyers can demand issuance of an RC in case builders refused to refund him.
Bombay High Court Allows State To Charge Share In LeWhen the state government made an insertion and created an amendment in the Maharashtra Land Revenue Code, 1966, in August 2016, real estate developers were among the parties that were terrified. The state added Section 37A in the Code, giving itself the right to charge and recover from lessees the unearned income—the money they earned by transferring lease-holding rights to another person or entity. Under the changed norms, lease-holders could not transfer their lease-holding rights to another party without a prior permission of the state. On May 3, the Bombay High Court allowed the aggrieved realtors great relief while upholding the validity of the amendment.
Lotus Panache Buyers To Drag Builder To Supreme CourWhile their complaints are pending with the Economic Offences Wing and the consumer forum, the Lotus Panache Flat Buyers Association is planning to move the Supreme Court. The project by realtor 3C has 30 towers in total. While nine of the towers have already been built and a thousand units have been handed over, 4,000 investors are awaiting delivery while no construction process is in sight for the pending work.