Over 40 premises of builders raided 

By Accommodation Times Bureau RAJKOT On Wednesday in Gujarat’s Rajkot city 44 premises of three construction firms were searched by Income Tax department officials. A senior IT official told about the searches that these were being regulated on the business and residential premises of the city-based construction groups, according to an agency. He also

Bizman Akshaypat Singhania moves NCDRC against Pune builders

By Rohit Sharma PUNE Renowned Mumbai-based industrialist,  Akshaypat Singhania, Chairman and MD of JK International has moved the NCDRC against Sai Shraddha Associates & Ors for excessive delay in handing over possession of a property he purchased in December 2013. In 2013,  Singhania approached Sai Shradha Associates &Ors., along with partner Shankar

Builders to face action against securing fraudulent OCs

By Accommodation Times Bureau GURUGRAM To protect the consumers from cheating and fundamental cases, H- RERA on August 27, said builders will face action who have fradamentally secured OC. K.K. Khandelwal, Chairman of H-RERA while addressing a seminar at Gurugram he said, officicals who will found involved into fraudulent act would also face

Puranik Builders clocks sales over Rs 200 Cr in 45 days

By Accommodation Times Bureau MUMBAI In an otherwise sluggish residential market, major realty player Puranik Builders has sold 315 residential units worth over Rs 200 crore in 45 days between February and March 2018 reinforcing its position as a growth driver in the segment. Puranik Builders harbouring strong domain expertise in the mid-segment has sold 1,81,248 sq.ft across

Maharashtra Protection of Interest of Depositors Act to include builders soon

By Accommodation Times Bureau MUMBAI The Chief Minister Devendra Fadnavis on Wednesday told the legislative council that, the state government is taking into consideration to amend the Maharashtra Protection of Interest of Depositors Act (MPIDA) to include developers. Kiran Pawaskar a political leader had sought a question to CM asking about the action

Fit out Possession –Gimmick by builders to delay project & avoid penalties?

By Stuti Galiya, Solicitor & Advocate It has been common for builders to allow purchasers to occupy flats without obtaining occupation certificate (“OC”), which is mandatorily required for occupying flats. In such cases, to protect themselves from any liabilities, builders offer possession for fit outs. The flat owners who have already waited long

Builders diverted homebuyers’ money to buy expensive luxury cars says Audit

By Accommodation Times Bureau GREATER NOIDA Greater Noida Industrial Development Authority (GNIDA) said, under the first audit, 25 real estate companies have been scanned in the city and out of that at least five realtors who are constructing group housing projects in Greater Noida have used the money collected from homebuyers to buy expensive