#RealtyNewsRoundup: CREDAI Denies Bankruptancy Charges Against Member Developers

Developers body CREDAI-Western UP has filed a complaint with the Cyber Crime Cell, Noida, against a misleading message that is being circulated on mobile chatting app WhatsApp and other social media platforms that nationalised banks have put some member developers in the Delhi-national capital region into the bankruptcy watch list. The message generated from a so far non-verified source went viral and generated a sense of panic among homebuyers.

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Meanwhile, the insolvency resolution professional handling the Jaypee Infratech case has ruled out the possibility of homebuyers getting refunds, but has assured that efforts are being made to ensure the continuation of project development. The IRP also clarified that the August-24 deadline for submitting of claims by homebuyers will not be extended.

Jaypee Insolvency: Homebuyers To Raise Claims Till August 24

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The Greater Noida Industrial Development Authority (GNIDA) has directed a 10-member team of officials to expedite completion certificates for 28 group housing projects in the city. The aim of the team is to expedite issuance of completion for 13,000 residential units and hand over the units to buyers by Diwali this year.

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The forest department has removed encroachments from 52 hectares of its land in Meerut, mostly in the Ganga Khadar region. The development comes after the Uttar Pradesh government decided to launch a drive to free forest land from encroachments. Out of the 52 hectares land reclaimed by the department, plantation work has already started in 50 hectares.

Source: Media reports