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RE Related Laws & New Developments

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  • Re : RE Related Laws & New Developments

    Telangana HC stops apartment association from taking coercive action against owners


    https://www.indianrealestateforum.co...46#post2705646
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    • Re : RE Related Laws & New Developments

      Verbal understanding cannot replace written builder-buyer agreement: Bombay HC


      Clipped from: https://realty.economictimes.indiatimes.com/news/regulatory/verbal-understanding-cannot-replace-written-builder-buyer-agreement-bombay-hc/92015923


      https://www.indianrealestateforum.com/forum/city-forums/mumbai-real-estate/23776-mumbai-real-estate-news?p=2706000#post2706000

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      • Re : RE Related Laws & New Developments

        Home loan borrowers rejoice! RBI increases housing loan limit by 100%

        Considering the importance of cooperative banks in promoting inclusive growth, the Reserve Bank of India announced three measures for the cooperative banking sector.
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        Updated:
        Jun 08, 2022, 12:43 PM IST Highlights

        New Delhi: The Reserve Bank of India (RBI) on Wednesday raised the loan amount that cooperative banks can lend to an individual by 100 percent in view of the surge in housing prices. The guidelines governing the maximum permissible loan limits for cooperative lenders were last reviewed over a decade ago.

        Considering the importance of cooperative banks in promoting inclusive growth, the Reserve Bank of India announced three measures for the cooperative banking sector:

        1. The limits for individual housing loans being extended by Urban Cooperative Banks (UCBs) and Rural Cooperative Banks (RCBs- State Cooperative Banks and District Central Cooperative Banks) which were last fixed in 2011 and 2009 respectively are being revised upwards by over 100 per cent taking into account increase in house prices. This will facilitate better flow of credit to the housing sector.

        2. In line with the dispensation available to Scheduled Commercial Banks (SCBs) and UCBs, it is now proposed to permit Rural Cooperative Banks (RCBs- State Cooperative Banks and District Central Cooperative Banks) to extend finance to ‘commercial real estate – residential housing’ (i.e. loans for residential housing projects), within the existing aggregate housing finance limit of 5% of their total assets. This measure will further augment credit flows from the cooperative banks to the housing sector.

        3. It has also been decided to permit UCBs to extend doorstep banking services to their customers. This will enable UCBs to meet the needs of their customers, especially senior citizens and differently abled.

        RBI Governor Shaktikanta Das, who made the announcement along with the other measures in the bi-monthly policy review, added that a detailed circular on the same will be issued separately.









        Home loan borrowers rejoice! RBI increases housing loan limit by 100% | Personal Finance News | Zee News (india.com)

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        • Re : RE Related Laws & New Developments

          Land acquired after possession & payment of compensation vests with state: SC

          Read more at:
          https://realty.economictimes.indiati...te-sc/92174417



          A vacation bench of justices M R Shah and Aniruddha Bose agreed with the view of the Allahabad High Court that any person retaining possession of the land thereafter has to be treated as a trespasser.

          NEW DELHI: Land acquired by authorities after its possession and payment of compensation under the Land Acquisition Act vests with the State, free from all encumbrances, the Supreme Court has said.

          A vacation bench of justices M R Shah and Aniruddha Bose agreed with the view of the Allahabad High Court that any person retaining possession of the land thereafter has to be treated as a trespasser.

          The apex court was hearing a plea filed by a Uttar Pradesh resident, challenging a notice dated February 2 issued by the Greater Noida Industrial Development Authority, asking him to remove unauthorised encroachments over a piece of land situated under its notified area.

          The top court noted that the petitioner's land was acquired, its possession taken over and the payment of compensation under the Land Acquisition Act, 1894 paid.

          "In that view of the matter, the petitioner has no right to occupy and/or continue with the possession, as after the acquisition, the land absolutely vests with the state government. The high court has rightly refused to interfere and we are in complete agreement with the view taken by the high court.

          "Therefore, we see no reason to interfere with the impugned order in exercise of our powers under Article 136 of the Constitution of India. The Special Leave Petition is, accordingly, dismissed," the bench said.

          The high court had said after the acquisition of land and passing of award, the land vests with the State, free from all encumbrances.

          The Uttar Pradesh government had contended that the possession of the land in question was taken in 1996 and even the entry of the revenue record was changed. However, the petitioner had encroached the area again, it had said.

          "Any person retaining the possession thereafter has to be treated as a trespasser. When a large chunk of land is acquired, the State is not supposed to put some person or police force to retain the possession and start cultivating on the land till it is utilised. The government is also not supposed to start residing or physically occupying the same once the process of the acquisition is complete.

          "If, after the process of acquisition is complete and land vests in the State free from all encumbrances with possession, any person retaining the land or any re-entry made by any person is nothing else but trespass on the State land," the high court had said.
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          • Re : RE Related Laws & New Developments

            Land sold after undertaking development activities should attract 18% GST: Madhya Pradesh AAAR

            Read more at:
            https://realty.economictimes.indiati...-aaar/93200295



            https://www.indianrealestateforum.co...07#post2707507
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            • Re : RE Related Laws & New Developments

              Collector can't revise stamp duty already levied and paid, rules Bombay HC

              Collector Can’t Revise Stamp Duty Already Levied And Paid, Rules Hc, Real Estate News, ET RealEstate (indiatimes.com)
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