She clarified that CoC can now invite relevant land authorities such as NOIDA and HUDA to their meetings for inputs and perspectives on regulatory and land development related matters.
Upon meeting certain conditions and with CoC approval, possession of flats, plots or buildings can be handed over to the buyers during the corporate insolvency resolution process (CIRP), without waiting for its conclusion. Alongside, the properties that have already been handed over to allottees will not be treated as part of the liquidation estate of the developer.
As per the data presented at the Parliament, 1.62 lakh homebuyers have got relief through 111 resolved real estate cases so far, while around 90,000 are part of 210 ongoing cases. Of these, 87…