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Ankur Maheshwari

Ankur Maheshwari
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ILD promoter directed to complete Gurugram project or face punitive action by Haryana RERA

By
Ankur Maheshwari
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RERA Chairman K K Khandelwal directed ILD promoters to submit a resolution plan to complete the project which was launched way back in 2008-09 against hearing a plea of homebuyers by the next hearing on September 7.

 

Haryana: The Haryana Real Estate Regulatory Authority (RERA) has directed the promoters of realty firm ILD to finish the work of a delayed housing project at Sector 37C or face strict action.

The homebuyers alleged in their plea that the builder did not comply with the RERA’s earlier direction to complete the project and has not till day handed over the units to the allottees. The homebuyers are seeking strict action against the builder through their petition.

The RERA chairman came down heavily on ILD promoter Salman Akbar who was present in the office during the hearing.

In a warning to the builder, the authority said the project has to be completed anyhow and the builder’s land, offices, plots, flats etc would be attached or auctioned to accrue deficient money to complete the project, a RERA release said.

Khandelwal issued directions to freeze all money transactions with immediate effect. He took time to scrutinize the documents of builders to ascertain sold, unsold and mortgaged properties.

Finding noncompliance with RERA orders, the Chairman warned the builder of severe action.

“We give you the last opportunity to resolve the issue of aggrieved allottees without wasting time,” said Khandelwal.

ILD launched a residential project of six towers at Sector 37C in 2008-09 and collected 70-80 per cent of the amount from 192 buyers with the promise to hand over the units to allottees by 2010-11. However, the project still hangs in balance.

The RERA’s order issued on Friday has brought big relief to the aggrieved buyers as many of them have borrowed from banks and are paying EMIs without getting possession of their dream home even after more than a decade.

Anguished over the builder, the authority issued an order to attach Salman Akbar’s personal vehicle which it withdrew after the promoter assured to comply with the order.

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Bombay: High Court refuses to stay eviction of residents from 9 illegal buildings in Thane

By
Ankur Maheshwari
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A bench of Chief Justice Dipankar Datta and Justice M S Karnik shared that it didn’t want citizens to live a life fraught with the risk of their buildings collapsing during the rains.

MUMBAI: On Monday, the Bombay High Court refused to let stay citizens from 9 illegal buildings in the Thane district. The High Court said that it wants all the citizens to lead a dignified life and not with the fear that the building they are living in might collapse like a “pack of cards” in the rain.

High Court mentioned “We want all of you to live a dignified life. Not a life that is always at risk… that whenever it rains, the building might collapse like a pack of cards.”

The High Court was hearing public interest litigation filed by three residents of district Thane, seeking eviction of residents and demolition of nine dilapidated illegal buildings in the Mumbra area of the district.

The petitioners’ counsel Neeta Karnik informed the bench last week that though the Thane Municipal Corporation (TMC) had served demolition notices and cut off the power and water supply to these buildings, residents continue to occupy the premises and have accessed water and electricity illegally.

On Monday, the TMC’s counsel Ram Apte confirmed that the civic body had served the demolition notices to the buildings in 2019 and again in 2021.

The counsel for the residents, Suhas Oak, said buildings sought time to vacate the premises.

Matthew Nedumpara, who wished to file an intervention application on behalf of some other residents of the area, urged the high court to stay the eviction process and demolition notices for some time.

The High Court informed that it had asked all residents last week to voluntarily vacate the premises only to ensure their own safety.

The bench shared “For us, the lives of all these residents are very precious.”

The High Court also directed the TMC to file an affidavit by the end of the day detailing the number of occupants in each of the nine buildings.

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Chandigarh: who will pay Rs. 1500 crore for the hotel site at Sector 17?

By
Ankur Maheshwari
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Chandigarh, Sector 17 already has 3 big hotels. As per the sources the collector rate of Sector-17 SCO (shop-cum-office) is around Rs. 5,25,405 p. Sq. yard, implying that this Sector hotel site reserved price is more than Rs. 1,500 crores. 

CHANDIGARH: The collector rates are creating hurdles in the UT administration’s plan to auction a 6-acre hotel site in Sector 17, Chandigarh. Investors believe that with the reserve price turning out to be more than Rs. 1,500 crores private players will not be interested in the deal.

The UT administration now plans to study a project in Delhi and other states before finalizing auctioning of the land, sources said. The administration had planned a meeting with investors in May to plan Sector 17, in which this property was also discussed.

The administration had convened a meeting with investors in May regarding Sector 17’s plan in which this property was also discussed.

This hotel site was part of Sector 17’s rejuvenation plan. The administration is poised to turn the deputy commissioner’s (DC) office and its surrounding area into a “cultural zone” by bringing projects like National and its allied offices like food and supply, Registering and Licensing Authority (RLA), and the estate office will be shifted to the site of over 2-acre adjoining Hotel Shivalik View in the same sector at Rs 70 to 80 crore.

It is not the only property facing a problem, the administration is also facing problems in the other key projects as well because of the high collector rates.

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No calls on the structural audit of seven buildings around Supertech twin towers in Noida

By
Ankur Maheshwari
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Supertech MD Arora had also informed that his company had delivered the society 18 years ago and cited rules that a builder’s liability is only for the five years and after that, it’s RWAs responsibility to maintain society.

NOIDA There are only five weeks left before the Emerald Court twin towers, Apex and Ceyane, are demolished, but there is still no answer to the question of who will examine the buildings in the immediate vicinity for structural safety and take corrective measures up in the air.

According to the sources Supertech had written a letter declining to conduct a structural audit of the residential buildings surrounding the twin towers and also provided supporting documents on their stand. On Wednesday MD Arora refused to respond to a request for comment. On the same issue, he had already shared on June 29 that  “all documents and letters go to the interim resolution professional’s (IRP) office first” and Supertech would decide its course of action if it receives an order for a structural audit.”

The demolition of the twin towers is scheduled for 21st August. On 7th June the Noida Authority asked for a structural audit of seven buildings in a 50-metre radius of the twin towers – three at Emerald Court and four on the adjacent ATS Greens Village compound. According to the timeline decided by authorities,  a report was to be submitted to the Central Building Research Institute (CBRI) by June 30 and repairs and retrofitting were to be completed by July 30.

Emerald Court residents have been asking for an audit, they are fearing that their homes will be damaged from the demolition of towers. A recent structural study of basements at Emerald Court buildings done by a private firm hired by the society’s RWA had recommended immediate strengthening and retrofitting of some basement columns.

According to the sources, the question of the audit will be placed before a stakeholders’ meeting scheduled on June 19. Sources also shared the IRP appointed after a Supertech group company was taken to the insolvency court – and Noida Authority will also discuss this.

Ritu Maheshwari, CEO of Noida Authority, has directed ACEO Praveen Mishra to look into this and find a solution. Mishra on Wednesday said he was yet to get an official confirmation from Supertech on the audit.

Mishara said “A delegation of RWA members had come to my office to discuss the matter. am yet to see the letter. I have called a meeting of Supertech officials and the IRP.”

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The order directing the allottee to pay maintenance charges to DLF sets aside by Supreme Court

By
Ankur Maheshwari
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A bench of Justices Dinesh Maheshwari and Aniruddha Bose shared that the entity to whom such charge is due has not raised any claim.

NEW DELHI: The SC has set aside an order of the National Consumer Disputes Redressal Commission directing an allottee to pay maintenance charges to DLF Home Developers Ltd for the flat of which he is yet to get possession.

The bench informed “We, accordingly, hold the finding of the National Commission as also the State Commission that the allottee would be required to pay maintenance charges as erroneous and that part of the findings of the two Commissions are set aside.

“The entity to whom such charge is due has not raised any claim. In such circumstances, direction to the allottee to pay maintenance charges was not warranted as the entity entitled to receive such charges is not a party to these proceedings,”  he added

The court informed that such directions show the character of declaration of liability or obligation of the allottee in absence of the admitted claimant, who had not brought any action or staked their claim in any other manner through these proceedings.

The bench also said “We extend the time for issuing such an offer of possession by a period of eight weeks from this date. Execution of Deed shall be effected within the aforesaid period.”

“We modify the direction of the National Commission relating to the payment of delayed compensation and while restoring the directions of the State Commission, we direct that delayed compensation be paid at the rate of Rs.10 per square foot per month for the entire period from March 2011 till the date on which the fresh offer of possession is issued,” it added.

“The delayed possession compensation shall be paid to the allottee after adjusting the delayed compensation already paid. The early payment rebate of Rs.95,136/- shall also be adjusted, as has been directed by the National Commission. The said sum was mentioned in the statement of account dated June 10, 2013,” it further added.

The Apex Court was hearing a plea filed by Utpal Trehan, a Journalist on the issue of the quantum of compensation that he would be entitled to receive because of the delay in delivery of possession of a flat as also his obligation to pay maintenance.

The specific disputes giving rise to these appeals related to an Apartment Buyers’ Agreement, executed on December 3, 2008, between Trehan and DLF Home Developers Limited for the purchase of a flat, within a complex named New Town Heights in Gurugram Sector- 91.

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New Delhi: Amrapali homebuyers disagreed to deposit an extra amount

By
Ankur Maheshwari
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Booking of the units was made by homebuyers a decade ago, now the cost of construction has increased that’s why “Sinking cum Reserve Fund” has been created where the buyers would deposit the additional amount

NEW DELHI: The receiver appointed by the Supreme Court has decided to raise funds from buyers to meet the shortfall and buyers have been asked to deposit an additional amount of Rs. 200 per sq. ft.

The notice posted on the website managed by the receiver said “A Sinking cum Reserve” Fund shall be created to make provision of shortfall in construction cost and interest cost if any. All the home buyers across shall be asked to deposit a sum calculated @ Rs. 200/- per Sq. ft. for booked units in that fund, with the condition that such funds if not-utilised, shall be refunded back to them on overall completion of the projects. In case part utilisation of amount, proportionate amount shall be refunded to all the home buyers out of the unutilised money. This shall be applicable to the all categories of home buyers of erstwhile Amrapali Projects.”

Homebuyers opposed the decision and decided to object to it before the Supreme Court which is monitoring the entire exercise. As the hearing in the case has been adjourned for Tuesday, advocate M L Lahoty, appearing for home buyers, said that buyers had been waiting for their units for many years and they should not be burdened.

M L Lahoty further added “This has lead to agitation and havoc among the buyers as they have already paid more than Rs 1,100 crores as per the new construction wise payment schedule out of Rs 3,400 crores total due from them. Also, total recovery as per judgment of the Supreme Court was Rs. 11,000 crores, but only total amount which has been recovered is around Rs 2,900 crores of which 1,100 crores is from home buyers. Receiver has not taken action on any front on recovery from Directors, CFO, sale of properties, etc and now burdening the Home Buyers even more.”

The notice stated “The under-value units reported in the FA (forensic audit) report shall be asked to pay 15% of the undervalued amount plus prevailing taxes. However, the cases in which unit cost has been shown an extraordinary low rate (below Rs. 1500/- per sq. feet), they will be asked to equalise the gap before being asked to pay 15%.”

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Around 200 Mahira Buildtech buyers protest in Gurugram, demanding possession of homes

By
Ankur Maheshwari
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In Sector 68, the department cancelled the license of the project for irregularities, including the submission of forged and fabricated bank documents.

GURUGRAM: On Sunday, more than 200 homebuyers of affordable housing projects of Mahira Buildtech protested against the department of town and planning and developer.

The department also decided to blacklist the company and restrict authorities from issuing any license to them in the future.

“The department should allow construction of the project as buyers have already paid the entire amount and are also paying rent. This is a burden on us and is causing huge problems.” Dhruv Kapoor, a homebuyer shared.

Another buyer informed that they have been trying to meet chief minister Manohar Lal and deputy CM Dushyant Chautala but haven’t received any response. “It seems the state government and its authorities including DTCP, Heera and others are not bothered about the aggrieved families” he further.

No construction has been going on at the sites for the past few months.

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Bombay: High Court declares Ahuja Properties & Associates with over Rs.10 crore dues insolvent

By
Ankur Maheshwari
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On June 24, the HC single judge bench of Justice Girish Kulkarni passed the order in a bunch of 11 insolvency petitions filed in 2019 and 2020, against Ahuja and the partnership firm.

MUMBAI:  The Bombay high court declared builder Jagdish Ahuja and Ahuja Properties & Associates as insolvent. Ahuja Properties & Associates owes over Rs 10 crore to several persons. HC directed that their assets shall stand vested with an official assignee. Ahuja was told not to leave its jurisdiction till all claims are satisfied.

The HC heard all the creditors’ lawyers Preeti Gada, PB Kapadia, Mukul Taly and Rajesh Shah, along with Naved Chadhary for the builder, who expressed intention to comply and make payments.

The HC said “Only a paper assurance is no good. It clearly appears that the judgment debtors are unable to make payments of their debts… Thus, all essentials for the judgment debtors to be declared as insolvent, are clearly made out,” read HC orders.

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US-based real estate firm Cushman & Wakefield arrested in contempt and fined $ 10,000 in a day

By
Ankur Maheshwari
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Attorney General James won a court order in April, to force Cushman to comply with the command for records that would help to decide whether appraisals it conducted for several Trump properties were misleading or not.

A New York judge on Tuesday held real estate firm Cushman & Wakefield PLC in contempt of court for not producing documents subpoenaed in a probe of former U.S. President Donald Trump‘s business practices.

On Tuesday, a New York judge arrested Cushman & Wakefield for not producing documents subpoenaed in a probe of former U.S. President Donald Trump’s business practices.

Cushman & Wakefield has to pay a fine of $ 10,000 a day until it has complied.

James has been investigating Trump’s business practices for the past 3 years, he was focusing on whether his company misstated the values of properties to obtain loans and save taxes.

The properties include Seven Springs estate in New York’s Westchester county and 40 Wall Street in Manhattan.

In his order on Tuesday, Justice Arthur Engoron ruled that the daily fine on Cushman & Wakefield would start on July 7. He criticized the company for waiting until two days after a deadline to commence the process of asking for another extension.

A company spokesperson informed in an email to Reuters “Cushman disagrees with any suggestion that the firm has not exercised diligence and good faith in complying with the Court’s order, and we will be appealing this decision.”

Trump denied wrongdoing and called the probe a politically motivated witch hunt.

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CIDCO & AAI planning to set a height cap for projects near the airport

By
Ankur Maheshwari
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People aware of the development informed ET that a meeting scheduled in the next two weeks is expected to guide the matter that has impacted projects in the city for the last six months.

The Maharashtra government’s town planning & infrastructure development authority and Airports Authority of India (AAI) decided to take a final decision on height restrictions for projects in the vicinity of the proposed Navi Mumbai International Airport.

CIDCO (City and Industrial Development Corporation) has been following up with the Airports Authority of India and the central government on the matter of height restriction NOC (no objection certificate) of buildings in the Navi Mumbai airport project area.

Some approved real estate projects in Mumbai’s satellite city are in danger as AAI has officially announced height restrictions of 55.1 meters above sea mean level (ASML), which comprises 12-13 floors in a building, around a 20-km radius of the upcoming airport.

“We have suggested alternatives jointly along with Navi Mumbai International Airport and shall be taking up this issue again in the monthly meeting that is normally held under the chairmanship of the secretary,” said AAI.

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