#RealtyNewsRoundUp: Homebuyers Offered 2,000 Equity Shares Of Jaypee Infra For Free

Jaypee group on May 10 offered 2,000 equity shares of Jaypee Infratech for free to each homebuyer as part of its Rs 100-billion proposal to revive the bankruptcy-hit real estate company, media reported. Earlier this week, Jaypee group promoter Manoj Gaur made an offer of over Rs 100 billion before the lenders of Jaypee Infratech to protect the interest of all stakeholders, including homebuyers. Meanwhile, Jaiprakash Associates has deposited Rs 100 crore in the Supreme Court's registry as was directed by the court in a case related to delay in delivery of flats by its subsidiary.

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The ministry of civil aviation (MoCA) has asked the Yamuna Expressway Industrial Development Authority (Yeida), the nodal agency appointed by the Uttar Pradesh government for the Jewar airport project, and PricewaterhouseCoopers (PwC), the consultant for the project, to prepare a bid document to select a concessionaire who will develop the international airport along the 165-km Yamuna Expressway.

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Real estate promoters whose projects are in the developing stage in Ghaziabad may not be issued completion certificates till they install a solid waste management device at projects. According to media reports, the Ghaziabad Development Authority has decided to make mandatory installation of solid waste management facilities for providing completion certificates to real estate projects, and might soon make an announcement in this regard after various departs ratify the proposal.

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The Supreme Court has directed the National Highways Authority of India (NHAI) to ensure that the newly constructed Eastern Peripheral Expressway, which is aimed at decongesting Delhi, is inaugurated on or before May 31. The apex court took exception to the 135-km Expressway, which envisages signal-free connectivity between Ghaziabad, Faridabad, Gautam Budh Nagar (Greater Noida) and Palwal, not being thrown open to the public despite being informed earlier that it would be inaugurated by April 20.

Source: Media reports