#RealtyNewsRoundup: Buyers Can Now Claim Refund For Project Delayed By Over An Year, Rules NCDRC

The National Consumer Disputes Redressal Commission (NCDRC) on May 17 ruled that homebuyers who are facing a delay in possession of flats for over an year can now claim refund from their developers. The NCDRC was hearing a case of a Gurgaon-based homebuyer who had bought a flat in 2012 and the developer had promised delivery in 36 months. The homebuyer is yet to receive the possession of his flat.

***

The Centre on May 18 modified the Environment Impact Assessment (EIA) rules stating that the construction in areas ranging between 20,000-50,000 square metres (sqm) will not need an environment clearance from the government anymore. The new rules ease out the process of granting clearance to sand mining and construction activities across the country.

***

The National Company Law Appellate Tribunal (NCLAT) on may 18 annulled the voting by the Committee of Creditors (CoC), including homebuyers and lenders, on national buildings construction company’s bid to acquire insolvency-hit jaypee infratech. The decision came after idbi bank filed a plea, seeking a stay on the voting. The nclat has now shifted the date of renegotiation to may 30.

***

The Greater Noida Industrial Development Authority (GNIDA) on May 17 proposed to directly connect the Noida Metro’s Aqua Line with the Delhi Metro’s Magenta Line. The GNIDA has proposed a route between Aqua Line’s Sector 142 and Magenta Line’s Okhla Station to create a connect.

Source: Media reports