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File photo MUMBAI: The National Company Law Tribunal (NCLT) in Mumbai has approved the acquisition of bankrupt Satra Properties (India) by a consortium of realty developers MJ Shah Enterprises, MJ Shah Realtors LLP and Centrio Lifespaces under a Rs 184 crore resolution plan. The tribunal also set aside the erstwhile promoter’s application that alleged undervaluation …

NCLT approves Rs 184 crore resolution plan for Satra Properties, – Homevior Read More »

GURUGRAM: A group of homebuyers of ATS Marigold project in Sector 89A has been in a limbo for years as the developer is investigated for diverting funds and faces allegations of defaulting on pre-EMI payments. The project, initially licensed to three developers in 2013, was later transferred to ATS. Homebuyers approached the National Consumer Disputes …

Years of delay & fund diversion probe leave ATS Marigold buyers in a fix, – Homevior Read More »

Representative image KOLKATA: A special PMLA court in Kolkata has ordered “restitution of assets” worth about Rs 12 crore to investors who were duped in an alleged Ponzi fraud orchestrated by the Rose Valley Group of the city more than a decade ago, officials said on Monday. The court has identified 14 fixed deposits worth …

PMLA court orders restitution of assets worth Rs 12 crore to depositors in Rose Valley fraud case, – Homevior Read More »

BENGALURU: Bangalore Development Authority (BDA) is contemplating to increase the prices of villas in Hunnigere, off Nelamangala-Sondekoppa road. Initially, the BDA had set prices at Rs 75 lakh for 3 BHK (Bedroom, Hall, Kitchen) villas and Rs 1.10 crore for 4 BHK villas. However, due to rising construction material costs, the BDA is planning to …

Bengaluru development body mulls hike in villa prices in Hunnigere, – Homevior Read More »

Representative image BENGALURU: After being sold a litigation-prone site that the builder had no legal right to sell, an 81-year-old Vidyaranyapura resident took Mega City (Bengaluru) Developers & Builders to Karnataka State Consumer Disputes Redressal Commission, which asked the real estate firm to pay him about Rs 7 lakh. PP Sharma, a retired HMT manager, …

Karnataka SCDRC orders Mega City (Bengaluru) Developers to pay buyer Rs 7 lakh, – Homevior Read More »

Representative image CHANDIGARH: Once the key driver of housing in the city, the Chandigarh Housing Board (CHB) is fast sliding into irrelevance. Failing to come up with new residential projects since 2016 is a key indicative of its existential crisis, but it is not the only one. More than 15,000 of its allottees owe it …

No New Projects, Defaulters Rising, , – Homevior Read More »

The contentious issue of tax on transfer of development rights has resurfaced as Goods & Services Tax (GST) authorities are asking landowners to pay taxes on transferring these rights to real estate developers through joint development agreements between realty developers and landowners. The development is causing confusion and concern among landowners, given that the matter …

GST demand on development rights push landowners into legal dilemma, – Homevior Read More »

MUMBAI: Your property tax expenditure will remain the same this year. BMC has informed the state that it intends to issue property tax bills for the year 2024-25 without any revision in rate. Every year, property tax is collected by BMC from the over 9 lakh properties over which the municipal corporation has jurisdiction. BMC …

No plan to hike property tax this year, BMC informs Maharashtra government, – Homevior Read More »

NEW DELHI: Delhi Lieutenant Governor V K Saxena has issued directions to streamline property registration and verification by registering all the properties in the city with the NGDRS by January 2025, Raj Niwas officials said on Saturday. The National Generic Document Registration System (NGDRS) has been implemented in all 22 sub-registrar offices of the national …

Delhi LG to officials, – Homevior Read More »