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In Hathras, the district magistrate has imposed prohibitory orders under section 144 of CrPC and ordered sealing of the district borde ...
The Economic Times
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| 01 October, 2020, 01:58 PM IST | E-Paper
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    SEARCHED FOR:HOUSING PROJECTS

    NBCC informs SC about completion of 230 units in Amrapali project

    The NBCC also sought an assurance regarding future funds as it has employed almost 12000 workers at different sites. The bench directed the NBCC and receiver to give details of the funds requirement.

    Supreme Court asks SBI Capital to fund 6 Amrapali Group housing projects

    A bench of Justices Arun Mishra and U.U. Lalit directed SBI CAP to b...

    Don't fall for bogus DDA housing schemes, it's a trap!

    These days many lucrative schemes are being floated in the market by different societi...

    • According to an investor presentation, Ashiana Housing's sales booking stood at 0.81 lakh sq ft worth Rs 27.36 crore during April-June period of this fiscal year, a sharp drop from sales bookings of 3.54 lakh sq ft worth Rs 117.47 crore in the year-ago period.

      After hearing the parties, the apex court directed that the SBI Caps will issue fund to the tune of Rs 625 crore from the SWAMIH Investment Fund for 6 projects, namely Silicon City 1 & 2, Crystal Homes, Centurian Park Low Rise, O2 Valley and Tropical Garden.

      Leading developers like DLF, Emami Realty, ATS, Omaxe and Alpha Corp have shifted focus towards smaller cities to monetise the land banks they had held for long.

      Scores of home buyers could not pay their instalments owing to the financial crunch triggered by the lockdown. Housing officials said the department felt the need to give a buffer period to the home buyers in the wake of the Covid crisis.

      The project, CHD Vann, was launched by CHD Developers in 2014 and the possession was due in 2017. In their complaint, homebuyers alleged that the developer collected around Rs 224 crore from 250 homebuyers, but spent only Rs 80 crore for buying land and construction work.

      To sell the plots in its developed schemes, the JDA recently had reduced the reserve price of uninhabited land in its region by 10% to 37%. The decision was taken by the higher authorities looking at the slump in prices in the region.

      Constructed under the Married Accommodation Project (MAP), the buildings were found to have faulty foundations, that caused a visible tilt in the structure, rendering them unusable. A formal court of inquiry by the Eastern Army Commander in 2018 led to the conclusion that structural distress occurred due to a poorly executed project.

      Queries at property builders in Bangalore showed that space and size have pushed utility down the priority rung. Builders and brokers have noticed a spike in queries for ready-to-move larger homes priced between Rs 80 lakhs and Rs 1 crore after the Covid-19 outbreak.

      Kalypso Court is among the five projects at Wish Town that are promoted, sold, and developed by JAL, not Jaypee Infratech Ltd, which is in insolvency resolution. The promoter has submitted details of project financials along with a plan for completion of the project.

      According to PropEquity, total housing sales during April-June 2020 stood at 21,294 units, down 67 per cent from 64,378 units in the year-ago period. Barring Noida, all other eight cities witnessed a decline in sales.

      In the latest order dated July 10, SC had directed all the homebuyers to make the payment in accordance with the fund flow requirement of the NBCC. The new payment schedule has come in the wake of protest by homebuyers.

      Out of the total respondents seeking to cut budget, a substantial 56% were looking to reduce their budget by over 20%. 32% indicated that they are trying to cut their home buying budget by 11-20%. This may lead to demand for smaller homes.

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