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The real estate regulator has recommended several measures, including cancelling land allotments, to help over 1.65 lakh buyers. If implemented, the recommendations can resolve more than 70 percent of cases, UP-RERA Chairman Rajive Kumar tells Moneycontrol.
In the ad hoc world of policy-making on real estate and construction norms are evolved by those who suffer from the lack of it rather than from detailed studies executed before policies are laid out
SWAMIH or Special Window for Affordable and Mid-Income Housing investment fund has so far provided approval to about 130 projects with sanctions worth over Rs 12,000 crore, and in three years since inception in 2019, it has already completed 20,557 homes and aims to complete over 81,000 homes in the next three years across 30 tier 1 and 2 cities.
Sources within MahaRERA shared that as part of the initial attempt to revive the lapsed projects, details of 624 projects will be shared with Self Regulatory Organisations. It includes 309 projects from Mumbai, Thane, Palghar and Raigad.
A total of 344 corporate debtors (CDs) engaged in construction and real estate activities in Delhi have been admitted into Corporate Insolvency Resolution Process (CIRP) by the end of September 2022, the Parliament was told on Monday.