Will allowing registration of completed flats during the insolvency process bring relief to homebuyers?

Will Allowing Registration of Completed Flats During the Insolvency Process Bring Relief to Homebuyers

In what may bring relief to lakhs of homebuyers, the government is planning to bring in a proposal to allow the registration of flats in real estate projects that are completed but undergoing insolvency proceedings.

While the proposal may benefit lakhs of homebuyers, it would require consent from 66 percent of the committee of creditors. This is among the proposed amendments to the Insolvency and Bankruptcy Code, people aware of the matter said.

This is among the proposed amendments to the Insolvency and Bankruptcy Code (IBC), people aware of the matter said.