Defaulting builders and desperate homebuyers — an all-too-familiar script in Noida and Greater Noida could see a twist after a Supreme Court intervention. The Indian Express look for its echoes on the ground
The company, Oberoi Realty, took 30 per cent of the total cost of two flats from the home buyer. However, according to RERA norms, a builder can take only 10 per cent before registering a flat sale agreement.
In case of the New Cuffe Parade project at Wadala, four of the towers were granted part OC for ground to 40th floor by the Mumbai Metropolitan Region Development Authority on June 8, 2017, a month before the RERA came into being.
After the initial hiccups in 2017 due to the impact of demonetisation, GST and RERA, the realty sector is likely to witness recovery next year, and the growth will be sustainable backed by stronger market fundamentals than ever before