Property in Udupi

A look at what differentiates NRI property purchase from resident property purchase in India.

The National Consumer Disputes Redressal Commission has said homebuyers could file a case against parent company Jaypee Associates Limited in the forum, seeking compensation and possession. However, buyers cannot move the consumer forum against insolvency-hit Jaypee Infratech, it says.

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.

Under 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.

Forensic auditors appointed to go through the books of embattled realtor Amrapali Group told the country’s apex court on October 24 that the company siphoned off Rs 100 crore of the homebuyers’ money. The company, auditors Ravi Bhatia and Pawan Kumar Aggarwal, told the Supreme Court on October 31 that the realtor may have diverted the funds to 250 companies. Meanwhile, the top court also refused the company directors’ plea to visit home during Diwali. They are under police surveillance in a Noida hotel.