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Builders to pay 10.9% interest for delay in house delivery

NEW DELHI: The Union government notified rules on Monday to implement the Real Estate Regulation Act (RERA), which will enable buyers who have invested in real estate projects including existing ones - to secure interest at 10.9% per annum+ for delayed possession.

In case a buyer is seeking a refund, they will now be entitled to a refund on the entire payment at the same rate, and the builder will have to repay the amount ...
Read more : Builders to pay 10.9% interest for delay in house delivery | Views : 1627 | Replies : 1 | Forum : Real Estate Matters


Noida is best for investing in retail space in shopping mall

Noida, short for the New Okhla Industrial Development Authority, is a systematically planned, was developed in late 70’s to cope up with the industrial growth happening around the capital city. As the rate of unemployment is increasing in rural areas, people are shifting towards bigger cities. This migration is more in developing cities like Gurgoan and Noida resulting in a paradigm shift in recent years.

Noida was once viewed as industrial area due to its  excellent ...
Read more : Noida is best for investing in retail space in shopping mall | Views : 9716 | Replies : 0 | Forum : Noida Real Estate


Supreme Court orders Parsvnath to refund Rs 22cr to buyers

'Consumers must not suffer': SC orders Parsvnath to refund Rs 22 crore to 70 home buyers

NEW DELHI: Holding that a consumer must not suffer due to delay on the part of real estate developers to hand over the possession of flats, the Supreme Court on Tuesday directed refund of money to 70 flat buyers+ who had invested in one of Parsvnath's housing project in NCR.

The company had launched Exotica project in 2007+ with ...
Read more : Supreme Court orders Parsvnath to refund Rs 22cr to buyers | Views : 1163 | Replies : 0 | Forum : Real Estate Matters


Burdened judiciary to benefit from clubbing of cases

Getting home owners under one umbrella for litigation will save their time and money and ease burden of courts.

With the National Consumer Disputes Re dress al Commission (NCRDC) Bench interpreting Section 12 (1) ( c) to include all homebuyers having similar grievances over quality of construction, delay in possession or maintenance issues, buyers can now hope to get quick relief by approaching the commission directly instead of filing a case first in the lower ...
Read more : Burdened judiciary to benefit from clubbing of cases | Views : 1620 | Replies : 2 | Forum : Real Estate Matters


Class action lawsuits to ensure quick relief for homebuyers Class action lawsuits to ensure quick relief for homebuyers

All owners in a housing project with ‘common’ grievances to be made party to proceedings against builder; to be awarded compensation too.

Homebuyers with common interests and grievances in one housing project can come together as one group and file a class action lawsuit against a builder under Section 12 (1) (c) of the Consumer Protection Act.

The National Consumer Disputes Redressal Commission (NCDRC) clarification that all homebuyers in a housing project who may or ...
Read more : Class action lawsuits to ensure quick relief for homebuyers | Views : 876 | Replies : 0 | Forum : Real Estate Matters


Parliament Passes Benami Transactions (Prohibition) Amendment Bill

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पावर ऑफ अटॉर्नी के जरिए हासिल की गई प्रॉपर्टी बेनामी न करार दी जाए, इसके लिए सरकार जल्द ही एक बिल में संशोधन का प्रस्ताव ला रही है। इस संशोधन से रियल एस्टेट के मामले में बहुत लोगों को राहत मिलेगी। दो वरिष्ठ सरकारी अधिकारियों ने एक अंग्रेजी अखबार को बताया कि सरकार बेनामी ट्रांजेक्शंस (प्रोहिबिशन अमेंडमेंट) बिल, 2015 में बदलाव करने का प्रस्ताव तैयार कर रही है। सरकार यह सुनिश्चित करना चाहती है ...
Read more : Parliament Passes Benami Transactions (Prohibition) Amendment Bill | Views : 945 | Replies : 0 | Forum : News Articles


Plot for sale in Greater Noida

Hi,

I have a residential plot in greater noida - very good location. contact me if you are interested in buying. Call up at 9899464422.

Regards,
Prashant
Read more : Plot for sale in Greater Noida | Views : 14745 | Replies : 0 | Forum : Real Estate


Smart City will be developed over 1500 acres

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हरियाणा के सोहना और मानेसर में 1500 एकड़ भूमि पर स्मार्ट सिटी विकसित की जाएगी, एमओयू हुआ. Read More
Read more : Smart City will be developed over 1500 acres | Views : 1265 | Replies : 0 | Forum : News Articles


Service Tax Relief for Under Construction Flats by Delhi High Court

The Delhi High Court has said home buyers cannot be charged service tax on payments made towards purchase of under-construction apartments from builders if the total value of the apartment includes the land value.
However, service tax can still be levied on preferential location charges (PLC) that builders charge from buyers.

The court also said if the developer has already collected service tax, buyers would be refunded the amount with 6% rate of interest by ...


BPTP B Block construction

I am having a Bptp PLOT in bptp b1 row. I am planning to start the construction, but there are all vacant plots. If anybody else is also planning to construct on PLOT let me know.

Thanks,
Sanchit
Read more : BPTP B Block construction | Views : 1844 | Replies : 0 | Forum : BPTP Parklands Plots Faridabad


 

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