#RealtyNewsRoundup: Claims Of Above Rs 1Cr To Be Filed With NCDRC

The Maharashtra consumer disputes redressal commission has held that all the claims for apartments priced over Rs 1 crore should now directly approach the National Consumer Redressal Commission (NCDRC). According to the commission, cases with claims up to Rs 20 lakh can be heard by the district forums, Rs 20 lakh to Rs 1 crore by state commissions and beyond that by the national commission.

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After floating tender to invite bids to develop the sought-after Jewar Airport, the Noida International Airport Limited (NIAL) is now planning to seek financial assistance from foreign investors. For this, the agency plans to reach out to the foreign embassies of China, Japan, Singapore and the US, in India. According to the development authority, global investors will help boost the economy in the area around the airport and along the Yamuna Expressway.

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Aggrieved homebuyers, who had bought a home in Jaypee Infratech’s stalled projects, now plan to stop paying their monthly loan installments in case the voting on NBCC’s bid to acquire the beleaguered developer doesn’t bear result.

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Bengaluru-based RMZ Corp along with Avinash Bhosale Infrastructure and DB Realty will redevelop the six-decade-old Kamal Amrohi Studios, also known as Kamalistan, into a Rs 21,000-crore office park. Under the deal, while RMZ will hold 55 per cent economic interest in the development, the studio owners Avinash Bhosale Infra and DB Realty will keep the remaining 45 per cent.

Meanwhile, the Brihanmumbai Municipal Corporation plans to demolish nearly 900 illegal slum units in Behrampada at Bandra (East). The authority has already issued demolition notices. These slums have been illegally constructed and will have to be razed to complete the work of widening of drain in the area.

Source: Media reports