#RealtyNewsRoundup: Lenders Vote Against NBCC Bid To Acquire Jaypee Infra

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Jaypee Infratech lenders have voted against the bid filed by the National Buildings Construction Company to acquire the beleaguered developer. However, homebuyers, who had invested in the stalled projects of the developer, were in favour of the bid. Nearly 13 banks and nine associations representing 23,000 homebuyers had the voting rights in the Committee of Creditors (CoC) of Jaypee Infratech.

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The Maharashtra Real Estate Regulatory Authority has ruled that a new developer taking over a stalled project will now have to upload a registered undertaking that states they will fulfil the promises made by the previous developer. Till now, the old developer was allowed to transfer his rights and liabilities in an ongoing project to a new developer after a two-thirds consent of the allottees and approval of the state regulatory authority.

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The Tier-II and -III cities have been witnessing a higher growth in home loans when compared to the large metros, a report analysing the Reserve Bank of India data shows. Nearly 50 non-metro districts across the country exhibited higher CAGR of outstanding loans, ranging from 15 per cent to 36 per cent between financial year 2012-13 and 2017-18. On the other hand, cities, including Delhi, Mumbai, Chennai and Kolkata observed 8 per cent to 12 per cent growth during the same period. India’s home loan market as a whole grew 16 per cent during the same period.

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The Delhi Development Authority has received a lukewarm response for its 2019 housing scheme. Only 40,000 applications were received for nearly 1,800 apartments up for sale in Delhi’s Vasant Kunj and Narela. It was in March that the authority had announced the scheme, the last date of application was extended from May 10 to June 10.

Source: Media reports