vayu estate realtors
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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.
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.
Residents Welfare Body Seeks Representation In NoidaThe RWA Federation in the city has in fact been demanding a representation in the Noida Authority Board since 2017. If the demand is accepted — the federation recently sent another letter in this regard to the Uttar Pradesh industrial development minister —they would be able to positively influence policy decisions taken at the authority-level in favour of city residents.
Follow Construction Norms or Face Action: Noida TellAs concerns on rising pollution levels in the periphery deepened, the Union environment ministry asked authorities in the NCR to follow construction norms. However, it is found that government agencies themselves are failing to do that.