#RealtyNewsRoundUp: Seeing No Relief For Buyers In Sight, SC Blasts Amrapali, Unitech

The Supreme Court On May 2 directed real estate firm Amrapali Group to repair the escalators, lifts and fire safety equipment in all residential buildings built by it in five days or face the consequences. The top court's remarks came after some homebuyers claimed that the escalators, lifts and fire safety equipment were not in working conditions or had not yet been installed by the realtor.

On the same day, the apex court has also directed all the directors of Unitech Ltd and its subsidiaries to furnish details of their personal assets and warned them that if Rs 100 crore was not deposited by May 11, their assets would be auctioned.

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Jaypee Infratech’s lenders are likely to reject the proposal of Lakshadweep to acquire the bankrupt company because of differences over valuation. More than half a dozen members of Jaypee Infratech’s committee of creditors who together have a 40 per cent share in its outstanding debt has raised serious concerns over the valuation of the assets and the repayment structure proposed by Lakshadweep. As against the company’s liquidation value of between Rs 12,469 crore and Rs 14,798 crore, Lakshdweep offered only Rs 7,350 crore

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The Delhi Development Authority (DDA) is planning to increase the size of bedrooms of flats meant for the low-income groups category allotted under the housing schemes of 2014 and 2017. The size of the bedroom is proposed to be increased to about 10 foot x 10 foot.

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The construction for the Jewar International Airport in Greater Noida will begin before the 2019 General Elections, with the Uttar Pradesh government having approved the setting up of a joint venture company to acquire 1,441 hectare of land required to develop the first phase.

Meanwhile, the Union Cabinet has also approved a proposal to build new terminals at three airports of Chennai, Guwahati and Lucknow at a total cost of Rs 5,082 crore.

Source: Media reports