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Dear ck.kislay,
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https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/noida-real-estate/47500-noida-city-real-estate-updates
Posted by: MANOJa
On: February 20 2018 08:51 AM
[h=1]Amrapali seeks SC nod to rope in other builders[/h] Amit Anand Choudhary| TNN | Feb 20, 2018, 05:16 IST NEW DELHI: Real estate giant [URL="https://timesofindia.indiatimes.com/topic/Amrapali"]Amrapali[/URL] group has sought the Supreme Court�s permission to rope in other builders to complete its various housing projects , acknowledging it was not in a position to complete them to hand over possession of flats to over 42,000 home-buyers. Facing insolvency proceedings initiated against it by the creditor bank for not repaying the loan, the company in an affidavit told the court that the projects could be completed and possession handed over to buyers in a timebound manner if its properties were permitted to be developed with the help of co-developers. It said many companies had expressed interest in taking over the projects. �Apart from the massive inventory which has been sold and is at various stages of development, the ongoing projects of Amrapali group have vacant land available (earmarked for future development) which can be developed with the assistance of co-developers and, subsequently, sold to prospective buyers. This would provide for the necessary liquidity and cash flows for payment to the creditors and also investments in projects that unfortunately have negative cash flows,� the company said in its affidavit. �The applicants are humbly praying to the court to allow co-developers to come in to con struct, develop and deliver homes in certain under-construction projects of the group,� the affidavit said. As Amrapali failed to give possession of flats and buyers are facing uncertainty with its sister firm facing insolvency proceedings, a batch of petitions was filed by advocate M L Lahoty on behalf of more than 100 flat-buyers who had booked homes in Amrapali�s various project in Noida and [URL="https://timesofindia.indiatimes.com/topic/Greater-Noida"]Greater Noida[/URL], including Amrapali Centurion Park-Low Rise project, Amrapali Centurion Park-Terrace Homes and Amrapali Centurion Park-Tropical Garden. They approached the court after [URL="https://timesofindia.indiatimes.com/topic/National-Company-Law-Tribunal"]National Company Law Tribunal[/URL] (NCLT) initiated Corporate Insolvency Resolution Process and the tribunal restrained the company from transferring or disposing of its assets on a plea of [URL="https://economictimes.indiatimes.com/bank-of-baroda/stocks/companyid-12040.cms"]Bank of Baroda[/URL] which had given loan to the company. Agreeing to hear their plea, the [URL="https://timesofindia.indiatimes.com/topic/SC"]SC[/URL] had decided to intervene to protect their interests and directed the company to give a roadmap to hand over the flats or refund money to the buyers. The group filed its affidavit in compliance to the apex court�s order to file comprehensive plan on how it intended to complete the housing projects and hand over flats to buyers. The court had said that its top priority was to protect the interests of home-buyers who had invested their lifelong savings. The company said, �The plan will not only provide for speedy construction of houses but would also facilitate and ensure payments to all the creditors, including those who have already approached the NCLT for insolvency proceedings.� It pleaded the court to stay the insolvency proceedings to facilitate it to take help of other real estate companies to complete the projects. [url]https://timesofindia.indiatimes.com/city/delhi/amrapali-seeks-sc-nod-to-rope-in-other-builders/articleshow/62990528.cms[/url]
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/noida-real-estate/47500-noida-city-real-estate-updates
Posted by: MANOJa
On: February 20 2018 09:39 AM
[h=1]Residents seek curbs on late night loud music[/h] [URL="https://timesofindia.indiatimes.com/toireporter/author-Meenakshi-Sinha-19258.cms"]Meenakshi Sinha[/URL]| TNN | Updated: Feb 20, 2018, 01:36 IST [IMG]https://timesofindia.indiatimes.com/thumb/msid-62990077,width-400,resizemode-4/62990077.jpg[/IMG] NOIDA: The [URL="https://timesofindia.indiatimes.com/topic/RWA"]RWA[/URL] federation has written to SSP Love Kumar and district magistrate BN Singh alleging that [URL="https://timesofindia.indiatimes.com/topic/loud-music"]loud music[/URL] is being played late in the night at community centres during the wedding season. They said numerous complaints had been filed by residents saying that elderly people and children were not being able to sleep while students could not prepare for the exams. �There is serious disturbance being faced by many citizens across the residential sectors due to uncontrolled and unhindered loud music in community centres during weddings and other programmes. Orders from chief minister [URL="https://timesofindia.indiatimes.com/topic/Yogi-Aditya-Nath"]Yogi Aditya Nath[/URL]against use of loudspeakers as well as a [URL="https://timesofindia.indiatimes.com/topic/Supreme-Court"]Supreme Court[/URL] verdict of a 10pm deadline are being violated regularly,� said AN Dhawan, the secretary-general of the [URL="https://timesofindia.indiatimes.com/topic/Federation-of-Noida-Residents-Welfare-Associations"]Federation of Noida Residents Welfare Associations[/URL] (FONRWA). The RWA federation has sought necessary directives to the patrolling police teams to ensure that the volume of sound systems was kept low and restricted to the 10pm deadline as stipulated by the apex court. [url]https://timesofindia.indiatimes.com/city/noida/residents-seek-curbs-on-late-night-loud-music/articleshow/62989949.cms[/url]
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/noida-real-estate/47500-noida-city-real-estate-updates
Posted by: MANOJa
On: February 20 2018 09:39 AM
[h=1]Buyers awaiting flats write to Jaitley for EMI waiver[/h] [URL="https://timesofindia.indiatimes.com/toireporter/author-Sharmila-Bhowmick-479234316.cms"]Sharmila Bhowmick[/URL]| TNN | Updated: Feb 20, 2018, 01:34 IST [IMG]https://timesofindia.indiatimes.com/thumb/msid-62990067,width-400,resizemode-4/62990067.jpg[/IMG] NOIDA: A section of buyers waiting for delivery flats in Noida and Greater Noida wrote to finance minister Arun [URL="https://timesofindia.indiatimes.com/topic/Jaitley"]Jaitley[/URL] on Monday, requesting that they be spared from paying installments to banks until their houses are handed over. The buyers, under the banner of the Noida Extension Flat Owners� Welfare Association (Nefowa), said they were facing the double burden of having to pay [URL="https://timesofindia.indiatimes.com/topic/Emi"]EMI[/URL] as well as rent for the accommodation in which they are currently staying at the same time. There are around 2 lakh apartments overdue in [URL="https://timesofindia.indiatimes.com/topic/Greater-Noida-West"]Greater Noida West[/URL] or Noida Extension. �We are already paying rents and each year, the rents are increasing. The builders have taken 95% of the total payment. We have made an appeal that until we get our houses, the banks should be asked not to take EMIs. This will take some financial pressure off the buyers,� said [URL="https://timesofindia.indiatimes.com/topic/Abhishek-Kumar"]Abhishek Kumar[/URL], the president of Nefowa. The buyers have also threatened protests to mark their dissatisfaction with the projects that have been stranded for years. �The state government wants to ensure timely delivery of houses. At present, those buildings which are on a smooth track of completion are being handed over, which does not help the cause of buyers like us, who have been waiting for years now,� Kumar added. �We want the government to sit up and take action, hear us out and enforce the completion of flats. Elections are scheduled next year and the buyers� voice must be heard. The buyers have been victimised in Noida and the government has to take responsibility to mitigate our situation. We will soon start a series of protests to ensure our voice is heard,� he added. [url]https://timesofindia.indiatimes.com/city/noida/buyers-awaiting-flats-write-to-jaitley-for-emi-waiver/articleshow/62989947.cms[/url]
With warm regards,
Team IREF
With warm regards,
Team IREF
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