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real estate: Mumbai: Builder told to pay 9% interest since 2006 for delayed flat | Mumbai News

Nirmal Lifestyle Blu Diamond One Edition in Kurla, the delayed project
MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRera) recently directed a builder to pay interest for the past 14 years on the amount paid by a buyer for a flat in a high-rise in Kurla for failure to mention the date of possession in a 2003 agreement for sale.
The builder, Nirmal Lifestyle Ltd, has to pay simple interest at 9% per annum since September 2006, when the project ought to have been completed, said MahaRera in its order on December 17.
The interest has to be paid on the about Rs 28 lakh that was paid, and till the handing over of possession, directed MahaRera. The builder said the flat would be completed by December this year and MahaRera directed that possession should be given by then and no later than that. ....

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China's largest builder showcases BRI benefits with highways in Pakistan, Algeria

China’s largest builder showcases BRI benefits with highways in Pakistan, Algeria
National
December 26, 2020
BEIJING: The China State Construction Engineering Corp, the largest Chinese builder, has announced completion of an infrastructure project each in Pakistan and Algeria, two economies that are participating in the Belt and Road Initiative.
“This marks the construction giant’s efforts to boost regional cooperation amid the COVID-19 pandemic,” China Daily reported.
According to CSCEC, the Sukkur-Multan Motorway, which is the largest transportation infrastructure project under the China-Pakistan Economic Corridor, was officially handed over to the Pakistani side last week.
The 392-kilometer-long motorway, also known as the M5 motorway in Pakistan, is part of the country’s Peshawar-Karachi Motorway and was designed for speeds of up to 120 km/hour with a total investment of about $2.89 billion. “The motorway opened to traffic in November last ....

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