Daily Real Estate News Digest (7th September 2019)

MGP wants projects on less than 500 sq metre area to be included under RERA.

While the Section 3 (2) of Rera excludes registration of small projects that can be developed in an area of less than 500 sq m or less than eight flats, the consumer organization has written to the Centre urging it to make changes in the Act.

ET Realty

Huda to e-auction over 100 commercial sites in Panchkula.

The Haryana Urban Development Authority (Huda) would e-auction 103 commercial sites in 11 sectors of the city by the end of September.

ET Realty

Maharashtra govt to change regulations for construction inside BKC.

While constructions on such MHADA-owned lands are permitted to utilise a total floor space index (FSI) of 1.5 to 2 at present, the proposed modification, once implemented, will increase it to FSI of 3. 

The Indian Express

Gujarat government gives nod for DLF's IT park in Gandhinagar.

DLF Ltd got a new lease of life for its 'stalled' project in Gandhinagar with the state government's recent nod to the developer's plans. The Delhi-based realtor had in 2007 bought 25 acres of land from the state government for about Rs 50 crore.

ET Realty

Indiabulls Housing, Lakshmi Vilas deal in limbo with RBI yet to take a call.

The Reserve Bank of India (RBI), which received the application for voluntary amalgamation almost four months ago, has not reached a decision on the proposal. While one of the financial services regulators has given its noobjection to the deal, the Enforcement Directorate (ED) and income tax department are yet to share their findings.

ET Realty

Plea in Delhi HC against Indiabulls Housing for alleged siphoning of funds.

The plea filed by an NGO alleged that IBHFL, through its promoters and their various group firms and subsidiaries has been advancing dubious loans to companies owned by large corporate groups.

ET Realty

Delhi HC dismisses builders' plea on inter-relationship of RERA & Consumer Protection Act.

According to the builders' petitions filed under Article 227 of the constitution it was questioned whether proceedings under CPA can be commenced by home buyers against developers, after the commencement of RERA.

ET Realty

Banks worry funds freeze may affect operations at DHFL.

As a resolution continues to evade DHFL, banks that have purchased loans from the troubled housing finance company are concerned that its operations might get affected and EMI collections hit. 

ET Realty

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