#RealtyNewsRoundup: SC Orders Auction Of Unitech’s UP, TN Properties

The Supreme Court, on July 5, has asked the appointed panel, headed by former Delhi High Court judge Justice S N Dhingra, to proceed with the auction of Unitech Ltd's unencumbered properties at Agra and Varanasi in Uttar Pradesh and Sriperumbudur in Tamil Nadu. The panel has been directed to complete the process of auctioning the land properties at Agra within four weeks. The Bench headed by Chief Justice Dipak Misra has also ordered the developer to furnish a list of all of the company's, its subsidiaries' and personal properties of all the directors on July 9.

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The online property portals may soon fall under the ambit of Maharashtra Real Estate Regulatory Authority, if the body agrees to a letter written to it by Mumbai Grahak Panchayat (MGP). In a letter written to the MahaRERA, MGP has urged to bring online property portals under its roof and be treated as real estate agents to ensure transparency and accountability in the sector. The consumer body seeks registration of such portals in next two months. 

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To have more land for housing, the Delhi Development Authority has notified conversion charges for developing such residential units along with commercial activities on the industrial plots in the city. Industrial clusters could change the land-use by paying the conversion charges. These charges will be based on the circle rates of adjoining areas.

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Bank of Baroda has announced a rise in the marginal cost based lending rates (MCLR) by 0.05 per cent for various tenors of loans starting from July 7. According to a statement released by the bank, The loan tenor for overnight, one month, three months, six months and one year will each be levied 0.05 per cent higher interest rate at 8 per cent, 8.5 per cent, 8.15 per cent, 8.35 per cent and 8.50 per cent, respectively.

Source: Media reports