Daily Real Estate News Digest (23rd September 2019)

Multi-crore Mumbai land deal in which Chhagan Bhujbal faces graft charges scrapped.

State takes back Kalina library land, pays private developer Rs 137 crore as compensation.

The Indian Express

RERA registration must for home agreements.

The Maharashtra government on Saturday issued a notification directing property registration officials that no agreement for sale for any property in ongoing real estate projects should be registered without first verifying that the project is registered with Maharashtra Real Estate Regulatory Authority.

Mumbai Mirror

IL&FS debacle, slump in real estate led to default, says Altico Capital.

Realty lender Altico Capital has said lack of funding triggered by IL&FS defaults, along with the realty market softening, led to its default on repaying external loans.

Business Standard

To speed up deliveries, Noida may allow registry of flats without NOC.

In what could increase the rate of delivery of flats to buyers, the district administration is contemplating allowing registry of property even if the Authority has not provided a ‘no-objection certificate’ (NOC) to the project through an ‘agreement to sub-lease’ between the builder and buyer.

ET Realty

Land title insurance set to be mandatory for MahaRERA registered builders.

The state housing department is set to make land title insurance mandatory for MahaRERA registered developers, for which insurers are already in talks with the regulatory authority to decide on the premium.

ET Realty

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