#RealtyNewsRoundup: SC Warns Amrapali Of Transferring Projects To Noida Authorities
Description
The Supreme Court (SC) on May 8 warned the Amrapali Group that it will push out the developer from their 15 prime residential projects and transfer the ownership rights to Noida and Greater Noida authorities in order to protect the rights of the homebuyers. The court was hearing a batch of pleas of 42,000 homebuyers against the developer, which has defaulted in giving the possession of their flats.
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The Delhi Development Authority (DDA) has extended the application date for its 2019 housing scheme from May 10 to June 10. Under the scheme, the DDA is selling over 18,000 flats in Vasant Kunj and Narela, registration of which started on March 25.
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The Delhi Metro Rail Corporation has presented a Rs 7,000-crore plan of the first phase of the Jewar Metro to the Yamuna Expressway Industrial Development Authority. The 35.64-km route, which will have 25 stations, will connect the airport with the Knowledge Park II Metro Station on the Aqua Line of the Noida Metro. The project is expected to be completed by March 2025.
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The Central Board of Indirect Taxes and Customs (CBIC) on May 8 released a new set of clarifications regarding real estate informing that developers will refund the Goods and Services Tax (GST) to the homebuyers who cancelled the apartments booked in the financial year 2019. The CBIC was clearing the air over the migration provision, which the developers will have to decide upon by May 10.
Source: Media reports