Daily Real Estate News Digest (10th August 2019)

SRA to grant clearances at one go, relax interest on premium payments.

In a decision that is likely to provide a major boost to speedy completion of slum rehab projects in Mumbai, the Slum Rehabilitation Authority (SRA) has issued a circular that deveelopment permissions including Intimation of Disapproval (IOD) and Commencement Certificate (CC) till plinth/stilt height would be given at one go, and no interest would be charged on delayed FSI premium payments.

Mumbai Mirror


As Real Estate Firms Go Bust, Supreme Court Upholds Homebuyers' Rights.

The verdict paves the way for resumption of several insolvency cases that had been put on hold pending a decision, and could potentially free up billions of rupees locked up in stalled projects.

NDTV

Developers want modalities for takeover, finance of stressed projects in Gurugram.

Developers in Gurugram want the state government to develop a mechanism for taking over and completing stressed projects, which are stuck due to cash crunch, litigation or other reasons. 

HT


OYO Workspaces builds India's first old fort-styled Innov8 co-working centre.

The company is India’s first workspaces solutions provider to convert and develop an old fort style building into a highly functional and uniquely designed 415+ seater co-working space.

Livemint

Registration department brings transparency in property title in Nashik.

The office of the Inspector General of Registrations (IGR) has decided to take steps to allow a person to verify property details himself and file an application for the transfer of property – be it agricultural land, non-agricultural plots or flats.

ET Realty

Chinese property developers buy less land as home sales weaken.

Chinese property developers are slowing land purchases and plan to be more selective about where they build, as sales soften from tightening measures and a deteriorating economic outlook.

ET Realty

Haryana RERA slaps penalty notice on Orris Infrastructure & Three C.

Pulling up the two developers of Greenopolis project for failing to complete the first phase of the Sector 89 housing project by July 31, the Haryana Real Estate Regulatory Authority (H-Rera) on Friday issued a notice to Orris Infrastructure and The 3C Company, asking why a penalty of Rs 111 crore should not be imposed on them.

ET Realty

Jet Airways to settle dispute with Luckystar Property & HDFC.

The custodian of grounded Jet Airways’ assets has informed the bankruptcy court that the airline was willing to vacate its headquarters and another office in Mumbai to resolve its disputes with Luckystar Property Holdings and mortgage lender HDFC Ltd. 

ET Realty

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