NCLT admits insolvency plea by 176 Raheja Developers’ Revanta buyers over delayed handover

The National Company Law Tribunal (NCLT) has admitted an insolvency petition against Raheja Developers' Revanta project in Gurugram. 176 homebuyers, who collectively paid over Rs 137 crore, filed the petition citing significant delays in possession beyond promised timelines. The tribunal found a prima facie case of default, noting unhonored commitments and non-compliance with regulatory directions.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/Cxq0XSW
via IFTTT

Flat buyers entitled to interest under RERA for each month’s delay: Bombay HC

Bombay High Court ruled that homebuyers have an unqualified right to receive monthly interest for delayed possession under Rera. Justice Madhav Jamdar emphasized the law's intent to protect buyers from developer delays, stating they are unconditionally entitled to interest until possession is granted. The court cited buyers' vulnerable position as financiers of projects.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/OM20dcy
via IFTTT

ED attaches Rs 100 cr worth properties in Jaypee, claims Gaur laundered them

In a significant crackdown on financial misconduct, the Enforcement Directorate has seized assets worth Rs 100 crore from two real estate firms, including Jaypee Infratech Ltd (JIL). Authorities accuse JIL and its leadership of misappropriating homebuyers' investments. Investigations have unveiled a staggering Rs 33,000 crore was diverted from the Jaypee Wish Town projects for purposes unrelated to construction.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/JlqS1YW
via IFTTT

Uttar Pradesh government to simplify laws governing RERA

Uttar Pradesh Chief Minister Yogi Adityanath has directed officials to simplify legal provisions for corporate restructuring, LLPs, and RERA real estate transactions to align with economic needs. He emphasized making the Stamp and Registration Department transparent, technology-driven, and citizen-centric, akin to passport service centers, to enhance ease of doing business and investor confidence.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/UiOeknE
via IFTTT

CBI files charge sheet against Ninex Developers, its director

The CBI has filed a charge sheet against Ninex Developers Ltd and its director for alleged fraudulent activities in a Gurugram housing project. This marks the CBI's 11th report in builder-banker nexus cases, where thousands of homebuyers were reportedly cheated through deceptive promises and misleading representations.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/w6IxKRy
via IFTTT

Incuspaze acquires iKeva

Managed workspace provider Incuspaze has acquired iKeva in a 100% buyout, adding approximately ₹100 crore to its revenue. This strategic move expands Incuspaze's portfolio by five lakh sq ft across Hyderabad and Bengaluru, with plans for further growth and a potential IPO within three years.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/cAt6Zya
via IFTTT

Noida: Highrise fires reveal grey areas in society safety after handover is done

A recent fire in Noida's Ivy County high-rise has highlighted critical gaps in fire safety systems for tall residential buildings. Residents and experts are calling for stricter enforcement of fire norms, regular audits, and investment in modern rescue technology, as current firefighting equipment struggles to reach upper floors.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/i1grYdX
via IFTTT