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The defaulters were identified during the forensic audit exercise carried out at the instance of the Supreme Court prior to its judgment of July 23, 2019 which cancelled Amrapali’s registration under the Real Estate (Regulation and Development) Act.(HT PHOTO)

SC fixes Oct 31 deadline for Amrapali defaulters to pay up or lose allotment

Hindustan Times, New Delhi | By Abraham Thomas
PUBLISHED ON SEP 21, 2020 11:07 PM IST
The order came on a note submitted by the Receiver, senior advocate R Venkatramani who gave a slew of recommendations as part of efforts to implement the July 23 order and expedite completion of the Amrapali housing projects.
Chief minister Jai Ram Thakur addressing the House during the monsoon session in Shimla on Tuesday.(HT Photo)
Chief minister Jai Ram Thakur addressing the House during the monsoon session in Shimla on Tuesday.(HT Photo)

Question hour: 87 cases pending under Section 118 of HP Land Tenancy Act

Hindustan Times/Shimla | By HT Correspondent, Shimla
UPDATED ON SEP 16, 2020 12:37 AM IST
Jawalamukhi MLA Ramesh Dhawala had asked whether land purchasing procedure had been simplified for establishing industries and how many cases had been accepted under Section 118
The court has been monitoring the completion of the projects since July 2019 when it cancelled the firm’s registration under the Real Estate (Regulation and Development) Act.(Burhaan Kinu/HT PHOTO)
The court has been monitoring the completion of the projects since July 2019 when it cancelled the firm’s registration under the Real Estate (Regulation and Development) Act.(Burhaan Kinu/HT PHOTO)

SC asks Centre to arrange funds for stalled Amrapali projects

Hindustan Times, New Delhi | By Abraham Thomas
UPDATED ON AUG 13, 2020 11:30 PM IST
A bench of Justices Arun Mishra and UU Lalit told Solicitor General Tushar Mehta that if no positive response is given by Wednesday, the court will be forced to pass orders in the exercise of its powers under Article 142 of the Constitution.
Impacts of inland waterways, hydroelectric projects up to 25 megawatts, small irrigation projects, some industrial parks or housing projects will not be assessed in detail because they are believed to have a small environmental footprint, according to reviews of the draft by several researchers.(AFP file photo. Representative image)
Impacts of inland waterways, hydroelectric projects up to 25 megawatts, small irrigation projects, some industrial parks or housing projects will not be assessed in detail because they are believed to have a small environmental footprint, according to reviews of the draft by several researchers.(AFP file photo. Representative image)

‘Lax environmental norms during recession could lead to industries bypassing environmental safeguards’

Hindustan Times, New Delhi | By Jayashree Nandi
UPDATED ON MAY 08, 2020 11:15 AM IST
On March 23, the Union Ministry of Environment, Forest and Climate Change (MoEFCC) had issued draft EIA notification 2020, which is expected to bring major changes in the way infrastructure projects such as industries, mines, large townships are granted environmental clearance and regulated.
UP-Rera also has a role in managing escrow accounts, which were opened to regulate the use of funds collected from buyers.(Aniruddha Chowdhury/Mint)
UP-Rera also has a role in managing escrow accounts, which were opened to regulate the use of funds collected from buyers.(Aniruddha Chowdhury/Mint)

Builders urge UP-Rera to extend dates to register housing projects, postpone coercive action

Noida, Hindustan Times | By Vinod Rajput, Noida
UPDATED ON APR 07, 2020 09:32 AM IST
Builders said even after the government announced the lockdown, the old orders issued by UP-Rera are being implemented, thereby creating problems for respective builders.
Linking sustainability with quality rather than pricing can create opportunities for upcoming housing projects, especially since India’s socio-economic milieu warrants different perceptions of affordability. The underlying idea is that people should be able to maintain comfortable living standards within affordable sustainable housing.(Pratik Chorge/HT Photo)
Linking sustainability with quality rather than pricing can create opportunities for upcoming housing projects, especially since India’s socio-economic milieu warrants different perceptions of affordability. The underlying idea is that people should be able to maintain comfortable living standards within affordable sustainable housing.(Pratik Chorge/HT Photo)

‘Affordable housing can be green too’

UPDATED ON FEB 25, 2020 01:57 PM IST
Linking sustainability with quality rather than pricing can create opportunities for upcoming housing projects, especially since India’s socio-economic milieu warrants different perceptions of affordability.
Of total 1,816 projects launched in 2019 across seven major cities, more than 52 per cent were of G+20 floors or more.(Sunil Ghosh /HT File Photo)
Of total 1,816 projects launched in 2019 across seven major cities, more than 52 per cent were of G+20 floors or more.(Sunil Ghosh /HT File Photo)

Over 50% of 1000 housing projects in 7 big cities are high rises: Report

New Delhi | By Press Trust of India
UPDATED ON JAN 19, 2020 01:51 PM IST
The Delhi-NCR market came next with nearly 70 per cent of its total launched projects in the high-rise category. Bengaluru clocked in with 45 per cent of the total projects launched in 2019 towering above G+20 floors, followed by Pune with 41 per cent share.
State Bank of India (SBI) has launched a scheme for homebuyers(Mint Photo)
State Bank of India (SBI) has launched a scheme for homebuyers(Mint Photo)

In new scheme, SBI offers to refund home loan borrowers if builder delays project

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON JAN 09, 2020 05:39 PM IST
If builders fail to finish a project within the deadline, SBI will refund the entire principal amount paid to the developer. The new scheme is expected to boost the real estate sector in India.
HT Image
HT Image

NBCC begins work at Amrapali’s Sapphire-I project

Hindustan Times, Noida | By Vinod Rajput
UPDATED ON JAN 09, 2020 05:39 PM IST
Hundreds of stray cattle are seen roaming on roads in Ludhiana.(HT File photo)
Hundreds of stray cattle are seen roaming on roads in Ludhiana.(HT File photo)

Local bodies department approves setting up of cow shelter in Noorpur Bet of Ludhiana

Hindustan Times, Ludhiana | By Harsimran Singh Batra, Ludhiana
PUBLISHED ON JAN 08, 2020 10:32 PM IST
Department also gives nod to establishing four dog pounds, one each in four MC zones, and approves rates fixed for slaughterhouse; civic body’s General House had passed proposals last September
The project is registered with Haryana RERA (H-RERA) and the construction has already commenced. The delivery of project is likely by 2023.(HT file)
The project is registered with Haryana RERA (H-RERA) and the construction has already commenced. The delivery of project is likely by 2023.(HT file)

MRG World’s new affordable housing project in Gurugram to offer flats for Rs 23-27 lakh

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON DEC 30, 2019 02:29 PM IST
The project, named ‘Ultimus’, will come up at Sector 90, Gurugram, and will be spread across 5 acres of land, the builder said in a statement. Read on to know more...
Minister of Finance Nirmala Sitharaman on November 6, 2019 had announced that the Cabinet had cleared a proposal to set up an AIF.(HT file)
Minister of Finance Nirmala Sitharaman on November 6, 2019 had announced that the Cabinet had cleared a proposal to set up an AIF.(HT file)

Govt’s Rs 25,000-crore fund for real estate projects gets 400 applications so far: Report

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON DEC 17, 2019 04:59 PM IST
Around 400 applications have already been filed for funds to be granted under alternative investment fund and the first round of disbursements may take place as early as this month itself. Read on to know more...
Homebuyers during an earlier protest in Sector 137, Noida, against Logix over the builder delaying possession of flats.(HT Archive)
Homebuyers during an earlier protest in Sector 137, Noida, against Logix over the builder delaying possession of flats.(HT Archive)

Builders explore eligibility options to avail of stress fund after interest waiver by UP govt

Hindustan Times, Greater Noida | By Vinod Rajput
UPDATED ON DEC 16, 2019 05:51 PM IST
At least 25 housing projects in Noida and Greater Noida, including those of Logix, Supertech, Valuent, AIMS Max Gardenia and Antriksh, among others, are already (without seeking any interest waiver) eligible to get the last mile funding.
Ajay Piramal, Chairman of Piramal Group and Shriram Group at a media briefing in Mumbai.(Photo: Aniruddha Chowdhury/Mint)
Ajay Piramal, Chairman of Piramal Group and Shriram Group at a media briefing in Mumbai.(Photo: Aniruddha Chowdhury/Mint)

Piramal Group, IIFL Wealth join hands for Rs 2,000 crore fund for stalled realty projects

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON DEC 11, 2019 05:39 PM IST
It is increasingly becoming popular as an option for developers that have exhausted other funding options towards the closing phase of a project that is already underway.
As part of the approved measure, the government had said it would pump in Rs 10,000 crore into the AIF. (Representational image)(HT file)
As part of the approved measure, the government had said it would pump in Rs 10,000 crore into the AIF. (Representational image)(HT file)

Government’s real estate fund for stalled housing projects raises Rs 10,530 crore in first round

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON DEC 11, 2019 04:46 PM IST
Union Finance Minister Nirmala Sitharaman on November 6, 2019, announced that the Cabinet has cleared a proposal to set up an alternative investment fund to provide priority debt financing for the completion of stalled housing projects.
Many homebuyers, who had invested in Unitech Group’s housing projects in Noida and Greater Noida, are seeking refund
Many homebuyers, who had invested in Unitech Group’s housing projects in Noida and Greater Noida, are seeking refund

Unitech homebuyers seek a refund from developer: Rera

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON DEC 10, 2019 05:48 AM IST
Unitech had planned housing projects in Noida’s sectors 96, 97, 98, 113, and 117. Most of these sites have become an eyesore with rusted iron grills and dilapidated civil structure for the past several years.
Union finance minister Nirmala Sitharaman during the Hindustan Times Leadership Summit, December 7, 2019.(Raj K Raj/HT PHOTO)
Union finance minister Nirmala Sitharaman during the Hindustan Times Leadership Summit, December 7, 2019.(Raj K Raj/HT PHOTO)

I want to assure homebuyers, says Nirmala Sitharaman on govt’s real estate push

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON DEC 10, 2019 07:34 PM IST
On November 6, Sitharaman had announced a plan to set up a Rs 25,000 crore alternative investment fund (AIF) to revive 1,600 housing projects and 458,000 housing units that are stalled to provide relief to distressed homebuyers and boost sentiments in the ailing realty sector.
The benefit under the zero-period policy will only apply to the builders who will give a written assurance that they would complete their projects by June 2021. (Representational image)(File Photo)
The benefit under the zero-period policy will only apply to the builders who will give a written assurance that they would complete their projects by June 2021. (Representational image)(File Photo)

Explainer: How zero-period policy will help real estate sector in Noida, Greater Noida

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON DEC 04, 2019 03:31 PM IST
Yogi Adityanath government has reintroduced the zero-period policy in order to deal with stalled real estate projects in the area. Read on to know what exactly ‘Zero-period’ policy is...
While the policy will apply to builders across the state, the biggest benefit is expected be reaped by builders and buyers in the Noida and Great Noida region.(HT Photo)
While the policy will apply to builders across the state, the biggest benefit is expected be reaped by builders and buyers in the Noida and Great Noida region.(HT Photo)

UP approves Zero Period Policy that allows waiver of interest on housing projects for disputed period

Hindustan Times, Noida | By Vinod Rajput, Noida
UPDATED ON DEC 04, 2019 09:53 AM IST
The decision will help revive the real estate sector that has been hit by economic slowdown and acute shortage of funds, officials said, adding that this will also speed the process of handing over housing units to buyers.
Mohali, India November 27, 2019::Private flats at Sector 76 in Mohali on Wednesday, November 27, 2019.Photo by Keshav Singh/HT
Mohali, India November 27, 2019::Private flats at Sector 76 in Mohali on Wednesday, November 27, 2019.Photo by Keshav Singh/HT

GMADA asks private builders to get plots registered in buyers’ names

Hindustan Times, Chandigarh | By Hillary Victor, Mohali
PUBLISHED ON NOV 28, 2019 01:27 AM IST
There are around 100 private builders under Greater Mohali Area Development Authority (GMADA) and most of them allot the plots or apartments on the basis of allotment letter under which the purchaser pays the transfer fee and does not get ownership.
Indian shares inched lower on Friday after Moody’s Investors Service lowered its ratings outlook to “negative” from “stable”(REUTERS)
Indian shares inched lower on Friday after Moody’s Investors Service lowered its ratings outlook to “negative” from “stable”(REUTERS)

Nifty, Sensex slip after Moody’s cuts outlook to ‘negative’

Mumbai | By Reuters
UPDATED ON NOV 08, 2019 10:23 AM IST
Moody’s said the change in outlook partly reflected government and policy ineffectiveness in addressing economic weakness, which led to an increase in debt burden from already high levels.
Announcing the Cabinet decision, Finance Minister Nirmala Sitharaman said several sovereign funds have expressed interest in the scheme and may join at a later stage.(HT Photo/representative image)
Announcing the Cabinet decision, Finance Minister Nirmala Sitharaman said several sovereign funds have expressed interest in the scheme and may join at a later stage.(HT Photo/representative image)

Realtors welcome government's decision to help complete stalled housing projects

New Delhi | By Press Trust of India
UPDATED ON NOV 07, 2019 07:25 AM IST
Real estate developers welcomed the government’s move to create a Rs 25,000-crore fund to help complete over 1,600 stalled housing projects, saying it will solve the long-pending problem of homebuyers.
Axis Bank managing director Amitabh Choudhry said there are many realty projects with over 60 percent construction completed but are not able to carry forward for paucity of funds.(HT Photo/representative image)
Axis Bank managing director Amitabh Choudhry said there are many realty projects with over 60 percent construction completed but are not able to carry forward for paucity of funds.(HT Photo/representative image)

Banks unanimous in seeking one-time loan recast for realtors Mumbai

Mumbai | By Press Trust of India
UPDATED ON NOV 07, 2019 06:36 AM IST
The demand made on Wednesday came ahead of the government later in the evening approving setting up of a Rs 25,000-crore bailout fund to finance as many as 1,600 stalled housing projects.
HT Image
HT Image

UT administration denies permission to high-rise buildings in CHB project at Chandigarh IT Park

Vivek Gupta, Chandigarh | By Vivek Gupta, Chandigarh
UPDATED ON NOV 07, 2019 12:35 AM IST
Administration said the master plan did not allow high-rise buildings in the city, and cited its firm stand against Tata Camelot project in the Sukhna catchment area
Union Finance Minister Nirmala Sitharaman addressing a press conference after a cabinet meeting in New Delhi, India on Wednesday, November 06, 2019.(HT Photo)
Union Finance Minister Nirmala Sitharaman addressing a press conference after a cabinet meeting in New Delhi, India on Wednesday, November 06, 2019.(HT Photo)

Government to set up Rs 25K crore fund for stuck housing projects

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON NOV 07, 2019 05:15 AM IST
While the government will investRs10,000 crore in the fund, the remaining Rs1 5,000 crore will come in from State Bank of India, Life Insurance Corporation of India and other such institutions, Nirmala Sitharaman said.
Since 2014, the DTCP has issued licences for over 50 housing projects in this category and occupation certificates for three to four such projects have been given.(HT FILE)
Since 2014, the DTCP has issued licences for over 50 housing projects in this category and occupation certificates for three to four such projects have been given.(HT FILE)

Developers want prices revised, limit removed for affordable houses in Gurugram

Gurugram | By HT Correspondent
UPDATED ON SEP 19, 2019 05:59 AM IST
While a house is classified as affordable in Haryana if it is priced less than 25 lakh, the norms fixed by the Central government have stipulated the price at Rs 40 lakh for metropolitan cities.
In August, the state government had increased the area available for affordable category housing from 15 acres to 30 acres per sector.(HT FILE)
In August, the state government had increased the area available for affordable category housing from 15 acres to 30 acres per sector.(HT FILE)

Area for affordable housing units doubled in Haryana

Gurugram | By Abhishek Behl
UPDATED ON SEP 19, 2019 05:59 AM IST
These houses are allotted to the buyers on the basis of a draw of lots conducted under the supervision of government authorities. The scheme is open to all applicants but preference is given to those who have not been allotted a plot or flat in HSVP or other licensed colonies in the state.
NCLT resolution would lead to a haircut and ouster of the developer.(Mint Photo)
NCLT resolution would lead to a haircut and ouster of the developer.(Mint Photo)

Govt’s stressed fund a blessing for many stalled housing projects: MahaRERA chief

livemint, Mumbai | By Bidya Sapam
UPDATED ON SEP 16, 2019 08:51 PM IST
At present, MahaRERA is working with homebuyers and various stakeholders to help revive around 12 stressed projects in Maharashtra.
Finance Minister Nirmala Sitharaman announced that the government will set up a special window to provide last mile funding for housing projects which are non-NPA and non-NCLT in the affordable and middle income category.(HT Photo)
Finance Minister Nirmala Sitharaman announced that the government will set up a special window to provide last mile funding for housing projects which are non-NPA and non-NCLT in the affordable and middle income category.(HT Photo)

Government’s measures to boost real estate disappointing: CREDAI

New Delhi | By Press Trust of India
UPDATED ON SEP 15, 2019 07:49 PM IST
CREDAI’s National Chairman Jaxay Shah said the fund created for completing the stalled real estate projects will have limited impact as it excludes projects which are either facing insolvency proceedings or become non-performing assets.
The projects would be “net worth positive in affordable and middle income category”, and contributions of “roughly same amount” will come from outside investors, she said.(HT image)
The projects would be “net worth positive in affordable and middle income category”, and contributions of “roughly same amount” will come from outside investors, she said.(HT image)

Government unveils Rs 70,000cr boost to exports, housing

New Delhi | By Rajeev Jayaswal
UPDATED ON JUN 29, 2020 10:21 PM IST
Sitharaman said the government will contribute ~10,000 crore in setting up a special window to provide last-mile funding for unfinished housing projects that haven’t turned into non-performing assets (NPAs) and are not facing proceedings at the National Company Law Tribunal (NCLT).
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