PROPGUIDE − A Complete
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Not all of us can dream of owning a property of our own knowing that it comes at a price not many can afford. However, what if you are given a choice to fractionally own a property with multiple owners having a share in it? It is now a possibility. A model practiced internationally it is now gaining ground in India, too, with many e-commerce startups emerging in this segment.
The Insolvency and Bankruptcy Code places consumers right at the end of the queue when it comes to distribution of assets if a company is liquidated, a fault the corporate ministry might correct soon. According to media reports, proposed amendments by a panel will be presented before the ministry to improve the resolution mechanism. Homebuyers could be brought in the category of financial creditors in insolvency proceedings.
According to a report by the IIT-Madras, traffic congestion cost Delhi a whopping $10 billion in 2017. To help lower this cost for the national capital, AI-based traffic systems will be introduced that will ease navigation by providing real-time information, alternate routes, among others. Here’s how this system will be a boon for Delhiites.
A recent report indicated that India's domestic banking sector reported a total of 12,553 fraud cases worth Rs 18,170 crore in financial year 2016-17. Considering that, from here on, borrowers looking for big money from financial institutions would definitely have to go through a strict verification process. However, the gravity of the matter will also have a serious impact on borrowers of home loan products. In case you are planning to apply for a home loan, be ready for a more rigorous verification process.
