#RealtyNewsRoundUp: Trump Jr To Dine With Buyers of Trump-Branded Properties In Gurgaon, Kolkata

Donald Trump Junior, the eldest son of US President Donald Trump, has said India is "substantially above board" for business compared to China, and reforms underway will help attract investments to Asia's third-largest economy from countries such as the US. On a week-long visit to push sales of the upcoming Trump Towers in the country, he said the "spirit" of doing business in India was much more aligned with the US way of doing business. He is likely to hold dinner meetings with buyers of Trump-branded properties in Gurgaon and Kolkata, say media reports.

***

The Supreme Court (SC) has directed real estate major Supertech to deposit Rs 10 crore more with its registry to pay interest to the homebuyers who have opted out of its Emerald Towers project that has two 40-storey residential buildings in Noida. The SC is hearing pleas against a 2014 ruling of the Allahabad High Court in which the latter had ordering demolition of the two twin towers, Apex and Ceyane, on ground that they were built on green area.

***

Embattled real estate company Amrapali Group has approached the SC, seeking its permission to rope in other developers to complete its various housing projects. The company, which is facing insolvency proceedings initiated, said in an affidavit in the top court that it was not in a position to complete the projects and hand over possession of flats to over 42,000 homebuyers in a time-bound manner, and the properties were needed to be developed with the help of co-developers.

***

The government has approved six rail projects at a cost of Rs 11,661 crore for new lines as well as doubling and electrification of tracks. The projects would cover 881 kilometre of lines in Uttar Pradesh, Madhya Pradesh, Bihar and Odisha. The projects are likely to be completed by 2022-23.

Source: Media reports