A special purpose vehicle (SPV) will be set up-with 80% private stake and 20% government contribution- to execute the Rs 22,000-crore project. Global tenders will be issued for its construction, said housing minister Prakash Mehta.
The buyers claimed they have paid up 90-95% of the cost of the flats to the builder, amounting to Rs 200 crore, and are left with no other option but to take the onus of completing the project as the real estate company, Subhkamna Buildtech, is in a mess.
It is the government’s first ‘modular panel’ structure constructed using reinforced thermocol panels instead of bricks.
The building cost Rs 15 lakh, which is 30% less than what is spent using conventional construction methods
The commission directed the builder to pay Rs 5 lakh compensation to one Govid Paul of Punjab over and above the refund amount for inordinate delay in handing over a flat. It imposed Rs 50,000 litigation cost on the builder as well
The top seven cities (NCR, MMR, Chennai, Bengaluru, Pune, Kolkata and Hyderabad) saw 52,150 new units launched in Q3 2018. This is a low single digit increase of three per cent over Q2 2018 of 50,600 units.
Sources from the MMRDA that is executing the Rs 19,000 crore metro project said, they have been assigned around 24 acres land in Waghbil village from the Thane revenue department for developing a casting yard
The Cabinet approval has cleared the way for the railways to commercially develop land and air space in and around stations and also provided for a longer lease tenure of up to 99 years from the previous 45 years.
The auction had to be put off twice as it got less than the required number of bids for the five-star property to go under the hammer, New Delhi MP and NDMC member Meenakshi Lekhi told reporters in New Delhi
Police said an FIR was filed against the developers — Aerens Infotech Pvt Ltd and Senior Builders Ltd — on Friday based on a recommendation sent by the department of town and country planning (DTCP) on July 2