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economy
SC refuses bail to Unitech promoters in a case relating to siphoning buyers’ money

NEW DELHI: The Supreme Court Wednesday refused bail to Unitech promoters Sanjay Chandra and Ajay Chandra in a case relating to alleged siphoning off the home-buyers’ money. A bench of Justices D Y Chandrachud and Hemant Gupta said they have not complied with its October 30, 2017 order which asked them to deposit Rs 750…

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economy
Homebuyers in Noida to move high court against sub-lease rule

NOIDA: Homebuyers of Noida, under the umbrella body of Noida Extension Flat Owners Welfare Association (Nefowa), are all set to contest a proposal by the district administration to convert homeowners to sub-lessees of their own property. The buyers said they would present a memorandum of protest to the district magistrate this week and follow it…

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economy
Lenders may extend deadline to submit revival plan for Jaypee Infratech by 15 days

NEW DELHI: Lenders and home buyers of Jaypee Infratech may extend by around 15 days the January 27 deadline to submit proposals to revive the debt-ridden firm as shortlisted bidders have sought more time, sources said. State-owned NBCC, Kotak Investment, Singapore-based Cube Highways and Suraksha group have been shortlisted as bidders for Jaypee Infratech, which…

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economy
NAREDCO seeks rationalisation of GST on under-construction properties

NEW DELHI: National Real Estate Development Council (NAREDCO) on Tuesday requested government of India to rationalise GST on real estate, bring stamp duty under the purview of GST and incentivise rental housing in the upcoming interim Union Budget 2019-20.Niranjan Hiranandani, president, NAREDCO said, “The real estate sector is passing through a difficult phase because of…

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