Whitefield is one the most important localities in Bangalore in the state of Karnataka, India. Originated in the late 1800s as a small settlement for the Eurasians and Anglo Indians of Bangalore, it remained a less engaged suburb until the boom of local IT sectors in the late 1990s. It Read more…
Realty firm Godrej Properties on Wednesday informed, that it would challenge the NGT (The National Green Tribunal) order, quashing environmental nod granted to Godrej Reflections project in Haralur Road, Bengaluru. According to them, no construction work has been done in the buffer zone of lake. Godrej Properties is the real Read more…
Karnataka Real Estate Regulatory Authority (Karnataka RERA) is currently in the process of drafting a proposal that would permit judicial powers to the Authority to execute its own orders, similar to what is enjoyed by the consumer forum. Once it is implemented, the authority would be able to accelerate builder-buyer Read more…
Finance Minister, Nirmala Sitharaman, in the Union Budget 2019-20, informed that the construction of public infrastructure and affordable housing would be taken up through innovative instruments such as joint development and concession. The government seems enthusiastic in introducing innovative ways to monetize assets of loss-making Central Public Sector Enterprises (CPSE). Read more…
The National Company Law Appellate Tribunal (NCLAT) has held that any insolvency process initiated by a flat buyer or financial institution would be confined to the project concerned only and cause zero impacts on other projects of the developers. “In CIRP against a real estate, if allottees or financial institutions, Read more…
Bringing much respite to the commercial real estate developers, the Reserve Bank of India has recently announced its decision to extend date of commencement of commercial operations (DCCO) of project loans for commercial real estate, by one year without downgrading the asset classification. “It has been decided to permit extensions Read more…
The Karnataka Real Estate Regulatory Authorities have come up with a conciliation cell to facilitate the resolutions of disputes between builders and buyers, registered under the Real Estate (Regulation and Development) Act (RERA). This alternate dispute resolution mechanism is supposed to be an improvement over the lengthy process of the Read more…