In a relief to homebuyers, assets in a real estate project that have been handed over to the allottee would be kept out of the liquidation process of the company, the latest amendment to the rules by the Insolvency and Bankruptcy Board of India (IBBI) has said. The notification dated February 12 said: "For the purposes of clause (e) of sub-section (4) of section 36, wherever the corporate debtor has given possession to an allottee in a real estate project, such asset shall not form a part of the liquidation estate of the corporate debtor." Real estate experts call it a "pragmatic approach" by the regulator. "However, there are many cases where possession has not been given because the property is stuck in insolvency.
Restricted by state government orders, the ownership of such land could not be formally registered, so the advances made continued to be reflected in the accounts as 'advances against land'.
As the Left government in Kerala gears up to inaugurate a cultural centre at Travancore House, in the heart of the national capital, on August 4, the Travancore royal family has moved the central government and various local bodies in Delhi with a request to halt the same.
In India, where land acquisition for industrial and real estate development has been widespread, the Land Acquisition Act makes the government the master of all that it surveys
The Congress seems to have brokered peace with the main Opposition parties on the crucial food security and land acquisition Bills and ensured that they are not dependent on the whims and fancies of smaller parties. Renu mittal reports
Conversion of land for non-agricultural use needs permission.
Narendra Modi has proved through execution of this event in Ayodhya that amongst all his contemporaries in politics he knows ordinary Indians like none other, notes Sheela Bhatt.
Municipal corporations penalise late property tax payments. 'Penalties can include attachment of properties, bank accounts, rent and other movable assets," says Anand Moorthy, co-founder, Square Yards.
Maybe Modi could ask a patriarch of the stature of the late G D Birla to flesh out the details of a new company to manage government land privatisation.
If the 'shebaitship' of Nirmohi Akhara was accepted, then their evidence will also be accepted, the bench said on the 20th day of the hearing in the politically-sensitive case.
The objection comes against the backdrop of strong rumours and the Bharatiya Janata Party claim that Hemant Soren's wife Kalpana will be the first choice for the chief minister's post in case her husband was arrested.
The Bihar government considers a proposal to give ownership rights to 50 per cent of the ceiling surplus land to be distributed by it among the landless to women.
The Central Industrial Security Force, tasked with the security of the ED officials, are using high-resolution body cameras to keep track of activities around Soren's residence, he said.
According to a confidential government paper seen by Reuters, several states want to do away with obtaining landowners' consent altogether in some cases and to cut through red tape which they say holds up development.
'The Centre prevaricates on the question of effecting a change of state-level leadership or on the imposition of President's rule in the state.'
Senior IAS officer Baseer Ahmad Khan was on Monday arrested by the Jammu and KashmirState Vigilance Organisation for allegedly misusing his official position for illegal transfer of government land in Gulmarg worth crores of rupees.
The land acquisition, the consolidation process in Kot and a slew of other decisions by the Haryana government to open the hills to privatisation and commercial activity run contrary to court orders, environmentalists' demand, and at times the Union government's measures to protect the Aravalli hills, say Nitin Sethi & Kumar Sambhav Shrivastava.
Some 404 houses were handed over to the Indian-origin people, mostly Tamils.
Sources claimed 48-year-old Soren was "evasive" in his replies during his questioning and hence was taken into custody under the Prevention of Money Laundering Act.
By putting $10 billion into the country's infrastructure, Cayman Islands-based real estate investor Trikona Capital plans to do well by doing good.
The dealers operating in the space have jumped nearly three times over the past two years.
Why is the government ignoring the advice of its own Economic Survey?
Ramesh says the best route now is to refer the amendments to Parliament's standing committee on rural development.
Mamata offered 1,000-acre land at Goaltore and said anyone be it the Tatas or BMW are most welcome to set up an auto plant in the state
If you're a beginner eager to embark on wealth-building journey in the real estate sector, Karan Shetty shares this comprehensive guide on how to get started.
There is a drastic difference between genders in the right to inherit land. Over a decade after the Hindu Succession Act was amended, only one in ten women inherit agricultural land, points out Akansha Dubey.
The go-ahead given to prosecute Arundhati Roy would be seen by supporters of freedom of speech as an announcement that the Right-Wing doesn't feel humbled by the results of the elections, argues Shyam G Menon.
Here's a look at India's largest detention centre, located at Matia in Goalpara district of Assam. The new detention centre at Matia will house around 3,000 detainees.
The Jharkhand unit of the Bharatiya Janata Party on Monday claimed that Chief Minister Hemant Soren has been 'absconding' since the last 18 hours, fearing action of the Enforcement Directorate.
State's move is seen as a pilot for a national rollout of online land title records. Maharashtra plans to start the system in Mumbai.
'Perhaps the government should explain how the same scientific temper, which authored a precise landing for Chandrayaan-3, finds the periodic table and the theory of evolution not good enough for inclusion in the educational curriculum,' asserts Shyam G Menon.
The Ministry of Defence would soon file a title suit in the Supreme Court to claim its ownership of the land on which the controversial Adarsh building stands, its counsel Aniket Nikam said on Wednesday.
Four villagers were killed and 24 others injured when two groups attacked each other with crude bombs and sharp weapons over a land dispute in Vangara mandal of the district on Tuesday, said the police. According to the police, the incident was the result of an old dispute over the ownership of 60 acres of agricultural land.
The letter was written on February 20, two weeks after the Cabinet Committee of Economic Affairs had approved the 100 per cent ownership proposal of Vodafone Plc in Vodafone India, at a proposed investment of Rs 10,141 crore (Rs 101.41 billion).
The West Bengal government may consider asking companies to directly purchase land for all industrial projects, including the Salim group's proposed SEZ.
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
A court in New Delhi on Tuesday reserved its order on an intervention application claiming the intervenor was a "necessary party" to an appeal seeking restoration of Hindu and Jain deities in an alleged temple complex inside the Qutub Minar.
The project, the foundation stone for which was laid by Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe in September 2017, is facing resistance in eight districts of Gujarat, through which the train will run.
'The BJP is trying to change this mantra.'
Unless Punjab has a chief minister who is able to look beyond community/vote bank politics, carry all sections of society, stop appeasing while addressing genuine concerns and break the stranglehold of the SGPC over Sikh affairs, my beloved home state is bound to die and conversions will be rampant, warns Sanjeev Nayaar.
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