Developers

NA plot developer booked for cheating home buyers

Nearly 23 years after he floated the scheme of river-facing Non-Agricultural (NA) plots in the picturesque Malavli in Maval tehsil close to Pune, a Borivali-based land developer has been booked on charges of cheating and criminal breach of trust by Pune rural police for allegedly defrauding second home buyers from Mumbai and Pune. The FIR was filed against the developer, Mahesh Ramugade (pictured...

‘Builder sold flats, but did not have permission to construct’

FIR against SSV developers for duping 150 homebuyers in Vikhroli Over 150 homebuyers have been allegedly duped by city-based SSV developers for Rs 30 crore by not delivering promised flats in Vikhroli area. The Economic Offenses Wing (EOW) of Mumbai Police has registered a case against the developer, who they say did not even have permission to construct the building. According to the police, the...

If home project delayed, builder to lose right over it

The state’s real estate watchdog, MahaRERA, on Thursday issued a standard operating procedure (SOP) to allow home buyers to remove a developer in a delayed project, which will then be given to an expert panel to help complete it. The authority clarified it can take act only in non-litigated cases. “It will help finish all delayed projects in the state. This is a unique move, probably the first in...

Homebuyers want to Take Over Debt-laden Property Developers

A WAY OUT An association of apartment-buyers submitted a plan to revive Kindle Developers, which failed to deliver homes after accepting payments. Staff cooperatives have already registered their presence in the list of potential acquirers of Indian companies put into administration. In a first, homebuyers are now seeking to take over property developers sunk in debt, claiming they have the biggest at...

Wadhwas to refund homebuyer Rs 1.9 cr

MAHARera orders Wadhwa Realty to refund homebuyer after developer fails to give possession on time. MAHARera allows buyer to withdraw from GHatkopar project and awards him a compensation of Rs. 2 Lakh; Wadhwa Residency Pvt Ltd appeal against order. The Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed Wadhwa Residency Pvt Ltd to refund a home buyer Rs 1.9 crore with interest for...

Kanakia Group’s building gets notice from BMC

Boomerang, the prime commercial building developed by Kanakia Group, in Chandivali, has been attached by the Brihanmumbai Municipal Corporation for nonpayment of property taxes to the tune of Rs 7.36 crore. The notice issued by the Superintendent and Assistant Assessor and Collector of “L” ward was pasted by BMC officials inside the building on Saturday. The building’s water connection has also...

If developers don’t complete projects, then the Authority will get them completed

Having started work in September 2018, Kumar told Sandeep Singh that the team has been able to solve around 2,500 cases in almost six months, taking the total number of resolutions to over 4,800 now. Our experience is that almost 40-50 per cent of the cases are amenable to conciliation rather than going through formal hearing and passing an order. We sought permission of the state government for starting...

1000 SRA projects pending for 15 years, govt wants more care in finalising builders

Minister of State for Housing Ravindra Waikar said on Thursday it is necessary to select developers who have a good track record and have the financial capability to undertake and complete a slum redevelopment project within a given time period. TO cut delays in slum redevelopment schemes under the Slum Rehabilitation Authority (SRA), the agency will now award contracts to developers only after their...

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