Hey guys! Welcome back to yet another weekly news roundup
Let’s get started!
1. The Mumbai Metropolitan Region Development Authority (MMRDA) have successfully launched 6 major beams along with the 1.6-km-long elevated BKC- Eastern Express Highway corridor in Mumbai. It is expected to be ready by July 2019.
2. The National Consumer Disputes Redressal Commission said that buyers cannot be made to wait for an indefinite period for possession of their properties, under the pretext of the force majeure clause. It is not only an act of lack of service but also of unfair trade practice.
3. To strengthen the supervision and regulation of commercial banks The Reserve Bank of India has declared that it will create a specialised cadre within the RBI, for the supervision and regulation of financial institutions, as well as banks and NBFCs
4. Delhi RERA has received as many as 72 complaints against builders in Delhi. Although, out of 72 complaints, 24 have been fixed. According to an RTI reply, merely 16 real estate projects have been registered so far under RERA in Delhi.
5. The National Highways Authority of India (NHAI) informed the National Green Tribunal (NGT that it has planted about 1 crore trees in the past 3 years across the country, to maintain ecology and environmental balance.
That was all for this week, we’ll be back next week with fresh realty news until then stay updated and Enjoy the summer vacation.