Daily Real Estate News Digest (1st June 2019)

Rule tweak plea to bring rehab part of redevelopment projects under RERA .

MahaRERA has proposed an amendment to the existing rules to bring the rehabilitation and sale components of redevelopment projects under the ambit of the Real Estate Act.

TOI

Bengaluru: FIR against Keystone Constructions & Ozone Shelters for forging BWSSB documents.

Rejecting the petition of the builders against the FIR, the HC said, “The allegations made in the complaint prima facie disclose the ingredients of Section 420 of IPC".

ET Realty

Rajasthan HC pulls up Jaipur civic body for delay in giving list of illegal buildings.

Since JMC maintained in the court that due to elections in the state, they could not progress in the work, the bench asked the corporation to file a detailed affidavit explaining how they will start and complete the work. 

ET Realty

Benefits from lower GST rate must be passed on to home buyers: NAA.

 If a developer has benefitted from the introduction of GST in terms of lower rate of tax, the benefits need to be passed on to the consumer.

ET Realty

IL&FS may sell non-core real estate assets.

As many as 50 properties, including commercial and residential real estate, land and land development rights held under various subsidiaries and spread throughout the country are on the sale list.

ET Realty

Prime office realty rentals on the rise.

The growth has made New Delhi’s Connaught Place the fourth-most expensive office market in the Asia-Pacific region, showed data from Knight Frank.

ET Realty

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