#RealtyNewsRoundUp: SC Tells NBCC To Take Over Amrapali Projects

A day after taking to task the National Building Construction Company (NBCC) for contempt of court over extending help to beleaguered realtor Amrapali while the matter was sub judice, the Supreme Court (SC) on August 2 gave the state-run builder 30 days to come up with a detailed plan while allowing it to take over unfinished housing projects.  The apex court also directed the company auditor to track the alleged diversion of homebuyers’ money to the tune of Rs 2,765 crore.

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With the Reserve Bank of India (RBI) hiking rates for the second time in two months, HDFC, Union Bank of India and Kotak Mahindra Bank have announced increases in their lending rates.  India’s largest mortgage lender HDFC has increased its retail prime lending rate by 20 basis points.

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The Noida Police has booked AVJ Height Builder, accused of selling same property to multiple people, under the stringent Uttar Pradesh Gangsters Control Act.  

Meanwhile, the Noida Authority issued notices to 26 unauthorised buildings in Barolla village and Hindon Vihar. These multi-storey buildings did not take any layout approval, and went ahead with construction.

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The Centre has advised states and Union Territories to display the "standard logo" of the Pradhan Mantri Awas Yojana-Urban in all houses constructed under the scheme to spread awareness.  

Source: Media reports