Developers in Rajasthan to aid construction workers with oxygen, vaccine

Noida Homebuyers Approach NCLT Over Jaypee Infratech Delays

Homebuyers of Jaypee Infratech (JIL) have approached the National Company Law Tribunal (NCLT), accusing Suraksha Group of failing to make progress on the construction of flats, despite the approval of its resolution plan in March 2023 and its subsequent confirmation by the appellate tribunal in May 2023. In their petition, members of the Jaypee Infratech Real Estate Allottees Welfare Society (JREAWS) claimed that Suraksha, which took over JIL through insolvency proceedings, had not mobilised the Rs 30 billion required for construction, deployed workers, or set up escrow accounts as per the re..

GST Hike to Raise Home Prices by 10 per cent Says Credai Pune

The Pune Metro chapter of the real estate body Credai stated that imposing Goods and Services Tax (GST) on floor space index (FSI) charges would lead to a 10% increase in housing prices, which would adversely affect demand. FSI determines the maximum floor area that can be developed on a plot of land and regulates construction density in that area. During a post-GST Council meeting conference, finance minister Nirmala Sitharaman clarified that no decision had been made regarding FSI charges. She explained that the council acknowledged that such a decision would affect municipal revenues, as ..

Aadhar Housing Finance Sets IPO Price Band at Rs 300-315 per Share

Aadhar Housing Finance, which is backed by private equity giant Blackstone, announced that it has set a price band of Rs 300 to Rs 315 per share for its Rs 30-billion initial public offering (IPO). The company revealed that the public subscription for the IPO will be open from May 8 to May 10, with the bidding for anchor investors opening for a day on May 7. This IPO will be the third maiden public offering to open next week, following TBO Tek and Indegene. Aadhar Housing Finance’s IPO consists of a fresh issue of equity shares worth Rs 10 billion and an offer for sale (OFS) of Rs 20 billi..