Welcome back to the weekly news roundup! Let’s see what’s in the bulletin for this week.
Looks like co-living has become a perfect choice for many millennials. In a recent report titled ‘Insights on Co-living – An Asia-Pacific Perspective’ by Knight Frank, Mumbai occupies the fifth position in Asia Pacific Co-living Index while New Delhi is ranked 11th and Bengaluru 19th.
Greater Noida Industrial Development Authority (GNIDA) issued a notice to GaursonsHitech Infrastructure for fitting artificial carpet in the mandatory ‘green’ area of its housing project. This marks the third notice which has been sent to the company in the past two years with the first being sent in December 2017.
According to the property consultant Anarock, South Mumbai’s Tardeo has become India’s most expensive residential location, commanding a staggering ₹56,000 per sqft average rate for homes available in the primary real estate market. Worli and Mahalaxmi in Mumbai Metropolitan Region (MMR) have been placed at second and third positions with average housing prices of ₹41,500 and ₹40,000 per sqft, respectively.
Good news for homebuyers as now they can approach both consumer panel and RERA. In a significant order, the Delhi high court mentioned that homebuyers can move to both the National Consumer Disputes Redressal Commission (NCDRC) and RERA against errant builders as their jurisdictions are “concurrent”.
The Apex court of India, Supreme Court warned Amrapali homebuyers on dues. SC warned homebuyers that due to their reluctance to clear the unsettled dues, the stalled projects might get wind up as developers are already facing a financial crunch. The top court cleared the modalities by which the homebuyers can be put to notice for clearing outstanding amounts after being validated by the court receiver appointed by the apex court.
That was all for this week, we’ll be back next week until then stay updated and raise your voice for what is right.