#RealtyNewsRoundUp: RBI Asks Banks To Link Home Loan Rates To External Benchmarks
After maintaining a status quo on key rates in its fifth bimonthly monetary policy review, the Reserve Bank of India in a separate statement on December 5 has directed banks to link all new floating rate-based personal and retail loans, including home and auto loans, with any external benchmark. The move is aimed ensuring effective policy transmission.
The Supreme Court on December 5 told the Delhi branch of the Debt Recovery Tribunal to seize and auction as many as 28 properties of embattled Amrapali Group to refund homebuyer. The order comes a day after company Chief Managing Director Anil Sharma admitted the company diverted Rs 3,000 crore of homebuyers’ money to expand itself. The Supreme Court also said properties of those homebuyers who bought units in bulk from the developers using unaccounted money be sold to arrange funds to complete Amrapali’s pending projects.
Government-owned NBCC along with Kotak Investment, Singapore-based Cube Highways and Suraksha Group have been shortlisted to acquire debt-laden Jaypee Infratech. Currently, insolvency proceedings against the company are underway in the National Company Law Tribunal.
The Maharashtra Real Estate Regulator Authority has sent notice to the Maharashtra Housing and Area Development Authority (Mhada) for not following rules set under the real estate law. The state housing agency has reportedly not applied with the RERA for renewal of the licences of at least 10 of its projects where the registration has expired.
Source: Media reports