(Video) Rajya Sabha TV (RSTV) The Big Picture: Regulating Real Estate

(Video) Rajya Sabha TV (RSTV) The Big Picture: Regulating Real Estate

Topic: Regulating Real Estate

Guest:

  • R. V. Verma, (Expert, Real Estate Sector)
  • Col. Prakash Chandra, (Member, Noida Extension Flat Owners & Members Association)
  • Brig. R. R. Singh, (Director General, National Real Estate Development Council)
  • Sudhir Krishna, (Former Secretary, Urban Development, GoI)

Topic Description:

The Supreme Court on 10 October ordered the sealing of nine premises of real estate group Amrapali in Uttar Pradesh and Bihar where documents related to its group companies were kept. The order came a day after the apex court sent three directors of the group to police custody. Lashing out at Amrapali for not cooperating, a bench comprising Justices Arun Mishra and U.U. Lalit had held the directors to be in “gross violation” of its earlier orders. On 26 September, the court directed government-owned NBCC (India) Ltd to conduct due diligence of all Amrapali projects to develop its stalled projects. NBCC was expected to float tenders to appoint contractors to complete the unfinished projects. The Amrapali issue is just the tip of the ice-berg. Several projects across the country have run into trouble and home-buyers are suffering at the hands of the developers.

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Courtesy: RSTV


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