314 Housing Projects Face Insolvency

Delhi HC orders Ansal Properties to maintain status quo

The Delhi High Court issued a directive requiring Ansal Properties and Infrastructure Ltd. on Monday to maintain the status quo on all its unencumbered assets. The order was issued in response to a petition filed by Debenture Trustee Vistra ITCL, acting on behalf of the debenture holders. The petition sought to enforce an order from an Arbitral Tribunal, which required Ansal Properties and Infrastructure Ltd. to furnish security amounting to Rs 5.03 billion. The bench of Justice Jasmeet Singh stated that the judgment-debtor, Ansal Properties, and Infrastructure Ltd., must maintain the status q..

MREAT sets aside MahaRERA order

A recent Maharashtra Maharashtra Real Estate Appellate Tribunal (MREAT) judgment set aside a MahaRERA order and directed the ITMC developers, promoters of the Sai Sapphire project at Vikhroli, to pay interest on an amount of about Rs 94 lakh, paid by the home buyers towards part consideration of a flat. The interest has been charged at the rate of 2% above the SBI Highest MCLR from April 2019 till the time the actual possession with OC is handed over to home buyers. While setting aside the MahaRERA order passed by Vijay Satbir Singh in April 2022, the MREAT said that the order passed by the au..

Institutional investment in real estate up 31% to $4.61 billion in Jan-Sept 2024

Institutional investments in the Indian real estate sector increased 31 %year-on-year to $ 4.61 billion in January-September 2024 amid strong consumer demand, according to Vestian. Real estate consultant Vestian released its report on 'Investment in Indian Real Estate', observing that funds' inflow from institutional investors in the first nine months of 2024 has already surpassed the total for 2023. "Investors have shown confidence in India's growth story on the back of robust GDP growth. As a result, the real estate sector witnessed increased participation from foreign investors which led to..