+
Govt Contemplates Abandoning Special Insolvency Framework for Real Estate
Real Estate

Govt Contemplates Abandoning Special Insolvency Framework for Real Estate

In a potential restructuring of the regulatory framework, the Central Government is contemplating the abandonment of the specialised Insolvency and Bankruptcy Code (IBC) framework crafted for the real estate sector. This reconsideration reflects a possible overhaul in how the government approaches insolvency matters within the real estate industry.

The dedicated IBC framework for the real estate sector was formulated to address the unique challenges and complexities of insolvency cases in the realty domain. However, recent evaluations and feedback have prompted the government to reassess the effectiveness and feasibility of this specialised approach.

The proposed shift is part of a broader review aimed at enhancing the efficiency and adaptability of insolvency proceedings in the real estate sector. If implemented, the move could bring the real estate industry under the purview of the standard IBC framework, aligning it with other sectors and streamlining the insolvency resolution process.

This potential change underscores the government's commitment to refining regulatory mechanisms to better suit the evolving dynamics of the real estate sector. The decision, once finalised, will likely have implications for stakeholders involved in insolvency cases within the real estate industry.

In a potential restructuring of the regulatory framework, the Central Government is contemplating the abandonment of the specialised Insolvency and Bankruptcy Code (IBC) framework crafted for the real estate sector. This reconsideration reflects a possible overhaul in how the government approaches insolvency matters within the real estate industry. The dedicated IBC framework for the real estate sector was formulated to address the unique challenges and complexities of insolvency cases in the realty domain. However, recent evaluations and feedback have prompted the government to reassess the effectiveness and feasibility of this specialised approach. The proposed shift is part of a broader review aimed at enhancing the efficiency and adaptability of insolvency proceedings in the real estate sector. If implemented, the move could bring the real estate industry under the purview of the standard IBC framework, aligning it with other sectors and streamlining the insolvency resolution process. This potential change underscores the government's commitment to refining regulatory mechanisms to better suit the evolving dynamics of the real estate sector. The decision, once finalised, will likely have implications for stakeholders involved in insolvency cases within the real estate industry.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?