#RealtyNewsRoundUp: Now, 3C Company Arm Stares At Insolvency

The National Company Law Tribunal (NCLT) on January 10 appointed a resolution professional to handle the issues faced by Granite Gate Company, a subsidiary of trouble-hit 3C Company which has been developing Lotus-brand projects for the company. The move may impact as many as 3,500 homebuyers.

Meanwhile, the Yamuna Expressway Industrial Development Authority has cancelled the allotment of a 100-acre residential plot to embattled realtor 3C Company over pending dues. For the Sector 22A plot that was booked by the developer in 2011, it was yet to pay the Yeida Rs 228 crore.

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The Karnataka Cabinet on January 10 approved a proposal to change the alignment of Metro Rail from KR Puram to the Kempegowda International Airport, which will increase its length by eight km. The Cabinet also gave its nod to a feasibility study on an Rs 23,093-crore suburban rail project in Bengaluru.

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The Brihanmumbai Municipal Corporation (BMC) has developed and launched an application, Swachhata-MoUD, using which citizens can complaint about cleanliness issues. The BMC will address the complaints registered through the app within 12 hours. The app can be downloaded from Google Play Store and upload photos of littered roads or garbage piles.

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According to the Bruhat Bengaluru Mahanagara Palike (BBMP), owners of two out of every five properties in the Karnataka capital avoid paying property tax promptly. The BBMP could generate an additional Rs 4,000 crore if residents were prompt in filing property tax, say officials.

Source: Media reports