Govt approves promulgation of IBC ordinance, relief to home buyer

By Accommodation Times Bureau DELHI The President Ram Nath Kovind on Wednesday gave his assent to promulgate the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, the official release by Ministry of Corporate Affairs said. The release stated that “the Ordinance provides significant relief to home buyers by recognizing their status as financial creditors.  This

Hike of 0.25 basis points in repo rate will not make major difference to real estate: Niranjan Hiranandani

By Accommodation Times Bureau MUMBAI The RBI has raised a 'cautionary flag' on inflation, by raising the repo rate by 25 basis points. This marks the first interest rate hike in four-and-a-half years. The counter-balancing factor was that the RBI has retained its 'neutral' stance. The six-member monetary policy committee (MPC), headed

Over 50k illegal bldg in Bhiwandi

By Accommodation Times Bureau MUMBAI In a move to terminate the rising of illegal buildings or unauthorized buildings, the Bombay High Court (BHC) directed Local Municipal Corporation to organise a procedure to act on complaints against illegal structures. On Tuesday it also ordered a survey of all unauthorized building in Bhiwandi. During the

BMC: New policy for dilapidated buildings

By Accommodation Times Bureau MUMBAI In a move to speed up or boost redevelopment process, the Brihanmumbai Municipal Corporation (BMC) has set up a new policy on dilapidated buildings and uploaded on its official website. In new policy under the C-1 category (dangerous), it doesn’t protect Cess properties, MHADA buildings, defence properties and

Society dispute for redevelopment not tenable

By Dr. Sanjay Chaturvedi LLB, Ph.D. Suresh Daniel Devaral V/s United Shelters Pvt. Ltd & another (CC006000000001709) Order dated: 3rd January 2018 The Complainants in their complaint have stated that they are the members of a Co-Operative Housing Society which is taken up for redevelopment by the Builder. The Complainants alleged that