Sydney housing firm Bathla Group collapsed and entered external administration on Monday. The collapse of the financially troubled firm leaves around 15,000 homes facing an uncertain future and involves a $3.6bn loss. Before going into administration, Bathla Group had carried out numerous projects across New South Wales.

Buyers of off-the-plan properties face serious concerns as the liquidation process progresses. The failure of the major developer triggered administration proceedings on Monday, leaving around 15,000 homes on hold across New South Wales as the liquidation process starts.