Daily Real Estate News Digest (19th August 2019)

Developers demand hike in affordable housing price cap from Rs 45 lakh to Rs 1 cr.

Even as the prices of real estate keep skyrocketing, developers have now set their sights on the affordable housing segment, with the latest being a call to hike the cap on prices from the current Rs 45 lakh to Rs 1 crore.

DNA

Builders to pay interest for delayed projects: MahaRERA.

If a builder doesn't pay a home buyer the interest he is obliged to pay, then the amount will be adjusted with the outstanding payable by the home buyer, as ordered by Maharashtra Real Estate Regulatory Authority .

DNA

Parsvnath receives Rs 1,200 cr from RLDA; plans to use the money to reduce debt.

Realty firm Parsvnath Ltd has received Rs 1,200 crore from RLDA as per a court order in a dispute related to a project  and said that the amount will be utilised to reduce debt. 

TOI


Home buyers body wantsPSU to complete stuck projects.

A home buyers association has written a letter to the Prime Minister demanding creation of a task force to identify stuck housing projects and nominate a PSU to complete these homes through creation of stress fund.

TOI

Prestige Group looks to list commercial office portfolio.

Prestige Group plans to tap the public market, through REIT of its commercial office portfolio after about a year, encouraged by the investor response to India’s first-ever REIT since its listing in March.

Livemint

No NOC needed to register individual’s share of undivided plot: Bombay HC.

The order is likely to bring relief to landowners with undivided right in property whose sale transactions have been delayed due to red tape.

ET Realty

Rajasthan builders to pay more to register projects with RERA.

The new fees will come into effect from September 1. Apart from plotted schemes, developers of housing schemes will have to pay Rs 20 per square metre as standard fee.

ET Realty

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