Homebuyers of Jaypee Infratech approaches NCLT over construction delays, ET LegalWorld
Representative image Homebuyers of Jaypee Infratech Ltd (JIL) have approached the National Company Law Tribunal (NCLT), alleging lack of headway in construction of flats by Suraksha Group despite its resolution plan being approved in March 2023 and upheld by the appellate tribunal this May. In their petition, members of the Jaypee Infratech Real Estate Allottees […]
Noida Mandates Flat Registration for Homebuyers Amid Real Estate Scandals, ET LegalWorld
Signing a tripartite ‘sale agreement’ at the time of purchase will be mandatory for builders and homebuyers in all new housing projects in the city. The Noida Authority board on Saturday made a basic change in the way real estate transactions are conducted in the city, through which it will know who a flat has […]
Godrej Projects Ordered to Refund ₹4 Crore to Homebuyers for Delayed Amenities, ET LegalWorld
Representative image Country’s apex consumer commission, NCDRC, has ordered realty major Godrej Projects to refund over Rs 4 crore to homebuyers in five separate cases for its failure to deliver its promises, which included a 24-metre-wide road and other essential amenities even seven years after making bookings. The homebuyers had booked flats in the ‘Godrej […]
MahaRERA flags 314 housing projects under insolvency, cautions homebuyers, ET LegalWorld
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has cautioned homebuyers against buying any properties in a total 314 projects registered with the authority that are undergoing proceedings at the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC) of 2016. Various banks, financial institutions, and other entities extending line of credit to […]
NCLT directs IRP to respond to 26,000 homebuyers of Supertech, ET LegalWorld
The National Company Law Tribunal (NCLT) has directed the interim resolution professional (IRP) to respond to applications filed by representatives of over 26,000 homebuyers of Supertech Ltd. Authorized Representatives (ARs), appointed by the order of NCLAT, and registered association post holders representing 26,500 home buyers from eleven projects of Supertech Ltd had filed their prayers […]