#RealtyNewsRoundUp: Putting Amrapali Bosses Behind Bar No Solution, Says SC

The Supreme Court on April 17 refused to grant homebuyers’ their wish ─ the lawyer appearing on their behalf pleaded those running the company be sent behind the bars to ensure justice. In the opinion of the SC such a move would not be a solution to homebuyers’ problems who must, by all means, get the possession of their units for which they have already paid a substantial amount. While stating that it would ensure buyers got possession of their homes, the top court gave Amrapali time till April 25 to draw a comprehensive plan to complete some projects that are nearing completion.

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Those who invested in property before the launch of the Goods and Services Tax (GST) may not be able to enjoy the benefits the new regime offers to homebuyers, indicates a recent report. The report, which was prepared by PwC in collaboration with a global real estate advisory, also notes that the significant changes in property pricing is unlikely since land cost forms a major part of the construction cost.

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People in the national capital may face a rise in call drops and slow internet as the municipal corporations in Delhi have sealed 566 mobile towers, industry body Tower and Infrastructure Providers Association (TAIPA) has said. There are 11,500 mobile towers installed in Delhi, and 1,150 more are required for seamless coverage but they have been pending for the want of permission, it said.

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The Ministry of Road Transport and Highways has set an ambitious target to build highways at a pace of 45 km/day in 2018-19. It had built highways at rates of 27 km/day in 2017-18 and 22.7 km/day in 2016-17.

Source: Media reports