Daily Real Estate News Digest (29th Dec 2017)










Consumer forum directs DLF Homes Panchkula to refund buyer's money for delaying possession

A consumer dispute forum directed DLF Homes to refund around Rs.51 lakh & pay Rs.1.60 lakh as compensation & litigation charges for failing to give timely possession of a flat.

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Huda issues notice to 3,000 plot-holders to recover Rs 500 crore dues

Huda has issued notices to around 3,000 plot-holders across Gurgaon to recover dues amounting to around Rs.500cr. The authority has issued notices under sections 17 & 18 of the Huda act, 1997, which allows it to seal plots or take their possession if the holder fails to pay their dues.

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Business park company RMZ Corp will stall Embassy via share buyback

RMZ Corp is finalising a deal to buyback shares held by Qatar Investment Authority even as Embassy Office Parks plots hostile moves to buy a large holding in the Bengaluru based company with a valuation of $1.4 billion at least.

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MahaRERA orders Vidhi Realtors to refund money with interest to homebuyers

MahaRERA has directed 2 developers Vidhi Realtors & Shree Balaji Associates to refund complainants (homebuyers) their investment amount with 10.5% interest for delayed possession. 

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DLF gets shareholders' nod for share issue proposal

DLF shareholders' approval for proposal to issue 17.30 shares through either a public issue or private placement. Shareholders also approved the company's plan to raise funds through issue of debentures & share warrants to promoters.

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Jaipur's Lakshmi Vilas Palace will be auctioned to hoteliers

The Urban Development & Housing Department will auction the recently acquired Lakshmi Vilas Palace to hoteliers while Kanak Bhawan would be converted into a guest house of the Jaipur Development Authority.

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