#RealtyNewsRoundUp: Unitech Properties Could Be Auctioned To Refund Homebuyers
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The Supreme Court on March 12 said that it would auction unencumbered properties of beleaguered real estate builder Unitech to refund homebuyers. The top court also directed the company to give a list of unencumbered properties of the company for this purpose. The SC also imposed a cost of Rs 25 lakh on Mumbai-based J M Financial Asset Reconstruction Company, which had taken over some loans advanced by HDFC Bank to Unitech Limited.
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All major wholesale and retail markets in the national capital remained closed on March 13 as traders have decided to observe a bandh against the ongoing sealing drive by the municipal corporations. The Confederation of All India Traders (CAIT) said that more than seven lakh traders belonging to about 2,500 traders associations would participate in the protest. Prominent markets likely to be closed on Tuesday are Chandni Chowk, Connaught Place, Lajpat Nagar, Amar Colony, Khan Market, South Extension, Greater Kailash, Karol Bagh, Sadar Bazaar, Kamla Nagar, Ashok Vihar, Vikas Marg, Preet Vihar, Model Town, Azadpur, Kalkaji, etc.
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The Supreme Court set aside two orders of the erstwhile Bhupinder Singh Hooda government in connection with land acquisitions in adjoining areas of Gurgaon in Haryana, terming the decisions "nothing but fraud on power". The apex court verdict came on plea which related to the land acquisition done by the Haryana government in August 2004 for setting up Chaudhari Devi Lal Industrial Township. The state government three years later intentionally scrapped the plan, allowing private entities to make windfalls in the process, the SC observed.
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Prime Minister Narendra Modi and French President Emmanuel Macron have inaugurated Uttar Pradesh's biggest solar power plant in the Mirzapur district's Chhanvey block. Built at a cost of around Rs 500 crore by French firm ENGIE, the 75-mw solar plant has come up at the Dadar Kalan village on the hilly terrain of the Vindhyas range.
Source: Media reports