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40,000 complaints registered with RERA in entire nation

Thursday 7th November 2019

As many as 40,000 complaints have been registered with the Real Estate Regulatory Authorities (RERA) in the entire nation, Durga Shankar Mishra, secretary, Housing and Urban Affair, Government of India, revealed on Sunday. It is time strict action was initiated against the defaulters through necessary changes in the original Act on the subject, the secretary observed while addressing chairmen of the authorities from 17 different states of the country came to attend a RERA conclave scheduled to take place in Lucknow.  ...

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Delhi NCR builders said Consumer complaints should go to RERA First

Monday 4th November 2019

With even individual homebuyers taking builders to bankruptcy court, rattled real-estate developers from Delhi-NCR are demanding that all consumer complaints first be heard by regulator RERA before insolvency proceedings are initiated.According to the realtors' apex body CREDAI, about 450 real estate companies/projects across the country are facing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) because of default in the delivery of projects to homebuyers as well as repayment of bank loans.  ...

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HRERA asks residents of piyush heights to collect money and complete the project

Thursday 31st October 2019

In the first of its kind order, the Real Estate Regulatory Authority (RERA) of Haryana’s Panchkula has asked a group of residents to take over a project and complete the remaining construction work. Over 100 residents of Faridabad’s Piyush Heights society have agreed to pool in R 8 lakh each to complete the project and move into their dream home.“It is a major relief for homebuyers, who were expecting completion by 2011 by could not get it as builder failed to complete the project. RERA suggested us to form an association and we should be ready to pay extra money if needed,” said MC Jain, president of J&K tower of Piyush heights ...

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UPRERA to provide grading to builders next year

Tuesday 29th October 2019

Real Estate builders will receive a rating from next year. This move will help investors in taking informed decisions. The grading, to be done annually, will be based on a developer’s track record and background, financial profile, construction quality, buyer feedback and legal status of the project, according to UP-RERA chair-person Rajiv Kumar. ...

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Over 2000 buyers approach UP-RERA against suncity Hi- tech

Friday 25th October 2019

Sanctity Hi-Tech has failed to deliver houses even after a long delay. The harassed buyers have approached RERA for refunds and cancellation. Sources said almost every customer has filed complaints against the developer and the final decision from UP-RERA is now awaited. "No development is seen at the site. Since Suncity has not started any development in this area, I am afraid that they do not have any intention of developing the plot and plan to dupe investors of their money", said a homebuyer, Varuna Gupta. ...

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Three member panel reconstituted in RERA GOA

Saturday 19th October 2019

RERA goa panel has been reframed with retired IAS officer S Kumaraswamy as the chairman. Former IAS officer J B Singh and retired district judge PV Kamat have been appointed as members.RERA rules in Goa were notified on 24 November 2019. ...

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KRERA to initiate registrations next week

Friday 18th October 2019

With the government setting up the KeralaReal Estate Regulatory Authority (KRERA), the registration of real estate projects with the authority is likely to begin next week.The notification on commencement of Section 3 of the Kerala Real Estate(Regulation and Development) Rules, that mandates registration of realty projects with the authority, is anticipated this month itself as per KRERA chairman P H Kurien. “All ongoing projects and those pending completion certificates will have to be registered with the authority once Section 3 commences. There shall not be any advertising or soliciting by promoters without getting their ongoing projects registered,” said Kurien.         ...

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CG all set to notify RERA in J&K and Ladakh

Wednesday 16th October 2019

The Central government is set to notify the implementation of the Real Estate (Regulation and Development) Act in the newly constituted Union territories of Jammu & Kashmir and Ladakh, paving the way for property development in the two regions.In Jammu & Kashmir, the act will be notified by the state government, while in Ladakh, the Centre will notify it since it is a UT without a legislative assembly,” an official of ministry of housing and urban affairs said. The notification will be applicable from November 1, after the reorganisation comes into force. The provisions for the UTs would be the same as those applicable nationally, said Durga Shanker Mishra, secretary in the ministry.      ...

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MAHARERA to register Self Regulatory Organisations

Tuesday 15th October 2019

The Maharashtra Real Estate Regulatory Authority has proposed to register realty developers and project promoters’ Self-Regulatory Organization (SROs) with the authority.According to the regulator, this will help to ensure greater professionalism among realty developers, bring a certain level of consistency in their practices, enforcement of code of conduct and discourage fraudulent promoters. The SRO is expected to encourage its members to comply with the provisions of the RERAAct, applicable rules, regulations, orders or circulars issued by the MahaRERA from time to time. The SRO will be responsible for carrying out awareness and education activities among its members. Any information or particulars furnished to MahaRERA by the applicant shall not be false or misleading in any material respect, the circular added. ...

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UPRERA slaps notice 22 promoters for not complying with court orders

Tuesday 15th October 2019

Uttar Pradesh real estate regulator UP-RERA has issued a show-cause notice to builders who have not complied with court orders in relation to delayed possession and have been asked to reply by October 23. Ghaziabad Development Authority,Greater Noida Industrial Development Authority, Ajnara Realtech,Newtech promoters and developers, Logix City Developers,Assotech,Solitaire infra home,new tech a pallacia,Bulland Builtech, Himalaya Real Estate,Opulent Infra Developers, Earthcon Universal Infratech, Patel Advance JV, Uppal Chadha Hi-tech Developers,Aims Promoters, G S Promoters and Harsha Associates are the promoters of the said projects.       ...

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RERA sees a surge of 40% in project registration in a year

Tuesday 15th October 2019

Post two and a half years, RERA has shown an increase in the number of projects and agent registration. A total of 45,309 projects have been enrolled with RERA as per data as of 05 October 2019. Maharashtra , Gujarat , Madhya Pradesh and Uttar Pradesh are the states with maximum registration in the country. These states account for 80% of total projects registered in the country. Maharashtra is leading the board with 22,455 project registrations. Data shows a 54% increase in agent registration across the country.   ...

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Finally RERA constituted in Kerala State

Thursday 10th October 2019

The state government has constituted Real Estate Regulatory Authority (RERA) appointing PH Kurien as the chairman and Preetha P Menon, Mathew Francis as two members.The government recently received the nod from Advocate general to frame Real Estate Regulatory Authority in the state. The latest status compliance report prepared by the ministry of housing and urban affairs on implementation of RERA shows that the interim regulatory authority formed by the state has not processed a single complaint to date.           ...

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UPRERA to start e-court from November onwards

Wednesday 9th October 2019

UPRERA plans to introduce e-court from November onwards.The new move will save time along with speedy disposal of cases.UP-Rera chairman Rajive Kumar said, “As of now, though we receive applications online, and during the hearings, complainants have to come several times to the UP-Rera to plead their case. Our plan is to introduce e-courts from November. Under this process, a complainant will have to come only at the final hearing stage.All the new complaints will be  processed under this system confirmed officials.The system is expected to be very effective and time-saving and will help in speedy disposal of cases. The existing complaints will, however, be dealt with as per the present system,” Kumar said.     ...

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Kerala Government to form RERA soon

Monday 7th October 2019

Post three years of RERA,Kerala government has received a nod from advocate general to constitute RERA in the state with former revenue and housing additional chief securetary PH kurien as chairperson. As per the RERA rules, RERA should have a chairperson and two whole-time members. Preetha Menon and Mathew Abraham are believed to be other members of Rera. Sources said that both LSG minister and chief minister have approved the draft notification on the constitution of Rera.             ...

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Bihar RERA directs promoters to submit Audited statement of accounts

Friday 4th October 2019

In a order dated 04 October 2019 Bihar RERA directs all the promoters who have either their registered projects or applied for registration with RERA Bihar should submit their annual accounts ( Profit and loss, Balance sheet, cash flow, notes to accounts with all schedules ) of their company /firm/individual for the year 18-19 by 31st October 2019 positively,duly certified and signed by Chartered Accountant enclosing there with a verification report that amount collected for a particular project and kept in a designated separate bank account have been utilized for the project and withdrawal has been in compliance with proportion of the percentage of completion of the project. ...

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UPRERA passes orders against buyers for the first time.

Friday 4th October 2019

Supertech has approached UP-RERA in respect of overdue payment from 45 buyers in its cape town, Eco Village I and Eco Village III projects. Supertech alleged that buyers are neither taking possession nor paying up the due amount. On 3 October 2019 UPRERA passed an order against 25 buyers either to pay due amount or they could lose up the flat. It is made clear in order the buyers have to turn up, pay their outstanding dues and take possession of their flats in 45 days. In case of failure of order, builder would have to deduct 15% of the total amount deposited with it and return the balance to the investors bank account.       ...

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MAHARERA to provide quality certifications of projects to buyers

Tuesday 1st October 2019

Homebuyers in the State will soon be handed a quality certification by the Maharashtra Real Estate Regulatory Authority or MahaRERA for every property they invest in, said Gautam Chatterjee, Chairperson, MahaRERA, on Sunday. Form 2A is certified by the engineer supervising the project. It states that the quality of construction is as per the National Building code. Form 2A is required to be submitted at the end of every financial quarter. This form is applicable for all the projects registered after 01 December 2018. ...

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UP-RERA deregisters Sampada Livia Project in Greater Noida

Tuesday 1st October 2019

UP-RERA has recently deregistered Sampada Livia based in sector Chi 5 in Greater Noida. This move is going to affect 350 buyers in the deregistered project. The project was proposed to be 750-apartment structure spread over 10 towers of 24 floors each. The builder promised possession in 2015, till now only basic work has been done. Officials said the regulatory authority deregistered Sampada Livia after the developer failed to come up with satisfactory responses to the several notices before the UP bench. ...

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Initiative by MAHARERA

Monday 30th September 2019

To ensure professionalism among the stakeholders and to bring consistency in practices, the MAHARERA plans to have Self Regulatory Organisations (SRO’s). In this initiative industry associations like National Real Estate Development Council (NAREDCO), Confederation of Real Estate Developers Association of India (CREDAI) and Maharashtra Chamber of Housing Industry (MHII) will register as SRO’s to take charge of all the members on the portal. With this move, the developer will not be able to file for registration unless he is an SRO member. ...

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Submission of illegal CC’s in TNRERA

Sunday 29th September 2019

The two construction companies of Tamil Nadu, namely, Akshaya Pvt. Ltd. and Sare Reality Project Pvt. Ltd. have filed illegal Completion Certificates for their projects before the TNRERA Authority to fight the complaints against them. They have obtained CC’s from the Village Panchayat’s President for their projects on the outskirts of Chennai although the jurisdiction is of DTCP to issue the same. TNRERA has ordered the developers to pay the compensation to the aggrieved homebuyers for this matter. ...

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Real estate sector hit by Economic slowdown

Saturday 28th September 2019

The real estate sector is experiencing stagnancy in the new projects. The KRERA Chairman informed that the number of registration is coming down, while the affordable housing remains unaffected. The direct impact has been seen in the market of the high-end apartments. The buyers are adopting a wait and watch approach affecting the stock of the developers and hence blocking the working capital. However, the introduction of the Government fund by the Centre may help in the growth of the sector. ...

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Pending dues deposited by Amrapali buyers

Friday 27th September 2019

A website has been started by the UCO Bank for all the Amrapali buyers to start depositing the pending dues which would help to finance the commencement of construction by the NBCC. More than 2 months have passed after the Supreme Court has ordered the NBCC to complete the unfinished housing projects of Amrapali Group in Noida and Greater Noida authorities. To pay their dues, the buyers would have to fill in the details of the project name, flat number, application number, buyer’s name, and the amount pending towards the flat. After all this information, the buyers can credit the due amount into the UCO Bank account. ...

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Objection to the Sale of Commercial space by Amrapali buyers

Thursday 26th September 2019

After a receiver has been appointed by the Court and process for the Tripartite agreements has been initiated for the Amrapali buyers, a section of them has objected to the sale of commercial space violating the building laws in almost all housing projects. The Court is yet to give a final order on this issue, the receiver has asked the Noida and Greater Noida authorities to maintain status quo on all such properties till the final call. To protect the safety and sanctity of the residential complexes the buyers have requested the court to check FAR allocation for these commercial activities. The sublease deeds of Amrapali violates the laws of RERA, the Noida Building Bylaws 2010. ...

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Order of HC regarding Kerala RERA Chairman

Wednesday 25th September 2019

After considering the petition filed by the advocate of Tiruvananthapuram, the Kerala High Court has ordered the State Government that appointment of PH Kurien (Former Secretary of Housing Department) as the Chairman or member of Kerala RERA should not be done if he was in the Selection Committee for making appointments. As per the interim order, the court’s directive will be in force for 2 months. The petition said that the Government is now taking hasty steps to make the appointments to the posts of RERA Chairman and members bypassing the statutory provisions of Kerala RERA Rules, 2018 and the RERA Act, 2016. ...

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No sewage planning in projects of Vadodara

Tuesday 24th September 2019

The Town Planning (TP) schemes must be taken care of to provide the required infrastructure as most of the projects in Vadodara and Rajkot are outside the TP Schemes. Addressing an event organized by Gujarat chapter of CREDAI, the Gujarat RERA Chairman said that out of 147 projects of Vadodara, 146 do not have any sewage planning and this matter should be taken care of for the development purposes. ...

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RERA status in Kerala

Tuesday 24th September 2019

After dealing with the Real Estate Crisis arising out of the Maradu case, the Government has turned deaf ears to the need for the formation of the RERA authority in the Kerala state. A reply to the RTI application from the office of LSG minister showed that the file related to RERA was in circulation and information would be revealed once file becomes available. The latest compliance report on the implementation of RERA shows that the interim regulatory authority formed by the state has not processed a single complaint till date. Kerala is one of the 8 states which are yet to set up a RERA Tribunal and have failed to operationalize website under the provision of RERA. ...

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Mandatory provision of Land Title Insurance in MAHARERA

Monday 23rd September 2019

Land Title Insurance is a form of indemnity cover, which insures builders and customers against the financial loss from defects in the title of the property. This concept earlier failed due to high pricing and lack of clarity in the sector. However, now the MAHARERA authority has mandated the developers to purchase the title insurance for new and ongoing registered realty projects. The insurance companies have already applied to the IRDA for launching title insurance products with expected low premium rates which may vary from 0.5-3% of the sum insured for a 7-year policy. ...

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Order issued by TNRERA to complete the project

Monday 23rd September 2019

A recent order has been issued by TNRERA authority directing Green Avenue Homes and Gardens to pay the rental dues and complete the housing project as per the terms. The said case relates to the redevelopment of the property on Fifth Avenue in Anna Nagar where after entering into Joint Venture Agreement the developer demolished six apartment units while not paying the rentals of the owners for more than 5 years as per the conditions. ...

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To sell property, registration of MAHARERA is must

Monday 23rd September 2019

Recently a notification has been issued by the Maharashtra Government directing the property registration officials that registration of any ongoing real estate project shall not be done without first verifying that whether the project is registered with MAHARERA or not. This resolution will help in a long way to protect the interest of homebuyers who were often victims of soft launch projects where bookings were accepted without checking any building permissions. ...

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UPRERA approached by GDA

Saturday 21st September 2019

After receiving complaints from the residents of the Aura Chimera society in Raj Nagar Extension about the poor civic amenities in their society, the city magistrate transferred these complaints to the GDA (Ghaziabad Development Authority) to look into the matter. After considering the case, the GDA decided to seek action against the builder through UP-RERA. The GDA officials will issue a recovery certificate to the builder to pay up the dues of Rs. 7 crore as the society does not even have the completion certificate and though possession was given to the buyers with the worst amenities. ...

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Auction of unsold flats by UPRERA

Friday 20th September 2019

To provide relief to lakhs of aggrieved homebuyers who were forced to wait for the possession, the UPRERA has decided to auction unsold flats of defaulting builders to pay back the investors seeking a refund in delayed housing projects. This is perhaps the first time that such a move has been announced in the real estate sector. Soon, UPRERA will float a portal for the global e-auction of unsold properties of cash strapped builders who have been issued recovery notes. In both the kind of refund cases- whether non- delivery of flats and buyer wants to exit the project or the other one is where the builder has promised penalties for the delay but has not paid late fine to the buyers, the money from the auction will be used. ...

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16 projects de-registered by UPRERA

Thursday 19th September 2019

After conducting a survey in Shahberi district in Uttar Pradesh and finding 1453 apartment projects illegaly constructed on Shahberi land, the UPRERA has decided to de-register 16 builder projects in Shahberi. After realizing that Shahberi is an unplanned area it decided to take them off from its list and the same was conveyed to GNIDA. The Gangster Act has been invoked by lodging 71 FIR against rogue builders for illegal construction. ...

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Protest by small builders under Rajasthan RERA

Wednesday 18th September 2019

To maintain healthy competition in the market, the Rajasthan RERA has proposed to lower the threshold limit for registration of projects from 500 square meters to 250 square meters and from 8 units to 4 units. However, the idea has not gone well with the developers and they decided to hit roads against the decision at Civil lines. The association alleged that the Government is systematically planning to wipe out the small builders from the market due to the pressure of big developers. ...

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Around 40 fake realtors identified by UPRERA

Wednesday 18th September 2019

After receiving 17 complaints from the gullible homebuyers about the promoters faking registration, the UPRERA investigated and 43 such builders were found who were constructing housing projects in prominent areas of the state capital. After identifying more such projects the UPRERA will lodge FIR against them soon. According to UPRERA norms, every promoter must get the project map approved from LDA and take a NOC from the fire department. Builders also have to take nod of LESA before submitting the registration application. ...

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Special fund of Rs. 20,000 crore to the sector by the Government

Tuesday 17th September 2019

To boost the real estate sector, the Government has announced the creation of Rs. 20,000 crore fund for the last-mile financing of stalled affordable and mid-segment housing projects. The proposed fund would support projects which are net worth positive and have not been classified as an NPA or referred to as an NCLT. As per the estimates, around 3.5 lakh dwelling units would be eligible for funding support through this measure. The Government is committing to provide Rs. 10,000 crore, the remaining balance would be funded by investor like LIC, banks, sovereign funds, etc. ...

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Suggestions by FPCE for better RERA

Monday 16th September 2019

Homebuyer’s body FPCE has requested the Prime Minister’s Office to bring RERA officials under the ambit of Central Vigilance Commission (CVC). It has also suggested that all orders passed under RERA should be audited by Comptroller Auditor General of India (CAG) to check the compliance with RERA provisions. In order to ensure transparency, it has recommended that a web link should be made available to the public and an audit of the website should be done too. Furthermore, an orientation course for all RERA officials should be carried out in which they are counseled to stick to the brief. ...

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UPRERA’s supervision to Gayatri Aura projects

Saturday 14th September 2019

A story of inordinate delays of a 450 apartment housing project in Noida Extension of Gayatri Aura has been delayed due to long periods of stalled work because of protests by farmers for compensation. The project remains incomplete due to challenges imposed by the farmers to land acquisition for the project in the court and is now being monitored by UPRERA. The authority instituted a reconciliation committee with 2 representatives from buyers, 2 from the developer, 1 from the Greater Noida Authority and 1 from UPRERA. ...

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SC worries about the unsold Amrapali flats

Friday 13th September 2019

Cancelling the Amrapali Group’s RERA license and appointing state-run NBCC to complete all the pending projects by its 23rd July order, the Supreme Court is now asking NBCC and others to come up with methods to deal with 5229 unsold flats of the group with worth Rs. 2337 crore. The top court has asked the authorities to suggest modalities of how GST and service tax will be calculated for the home buyers who are getting the house registered. It has also warned the homebuyers that unwillingness to pay the outstanding dues may lead to winding up of the stalled projects due to financial crunch. ...

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RERA praised by PM Modi

Thursday 12th September 2019

Addressing people in the inauguration of Aurangabad Industrial City project, the PM Modi applauded the RERA Act, 2016 and mentioned that it has created impartiality in the real estate sector and has given a boost to the construction activities. Also, by tax concessions, the middle-class people can fulfil the dream of owning a house. Many flats are being constructed under RERA has yielded good results encouraging public participation in PMAY. ...

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Response sought by Supreme Court from Amrapali Group

Thursday 12th September 2019

Seeking response from the Amrapali Group on a plea filed by around 700 homebuyers who had their dream homes booked in its project, the bench of Supreme Court issued a notice to the company and restraining the promoters from leaving the country without its permission. An interim order has been sought to ask the company to deposit money to secure the interests of the hassled homebuyers as they have neither received the possession nor the refund amount. ...

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Godrej properties fined by MAHARERA

Wednesday 11th September 2019

Invoking Section 3 of the RERA Act, 2016 against the Godrej Properties, the MAHARERA imposed a fine of Rs. 30 lakhs for putting up 30 hoardings of their new project in Thane without first registering it. The developer argued that these billboards may not be treated as advertisements violating the law as the billboards also displayed a specific disclaimer. Reacting on the complaint of a potential customer, the authority clarified that such promotions can also disrupt a level playing field for competitors and the fine need to be paid before getting registration. ...

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Suo motu action by MAHARERA

Wednesday 11th September 2019

Using the powers under Section 35 of the RERA Act, 2016, the MAHARERA decided to take suo motu cognizance against 2 real estate agencies based in Pune and Kalyan for facilitating the sale of unregistered projects. The two agencies, namely Wisteria Real Vision Pvt. Ltd. and Mystica India have been fined with Rs. 80,000 and Rs. 40,000 respectively. For real estate agents, it is mandatory to sell the unregistered projects and hence necessary actions were taken against them. ...

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MAHARERA to soon have conciliation forum in every district

Tuesday 10th September 2019

Maharashtra being the first state to implement the conciliation forum mechanism and thereby achieving 78% success rate is considering to expand its mechanism by setting up a bench in every district in the state to help resolve disputes between developers and homebuyers. The MAHARERA Chairman said the expansion will be done in phases and the new benches will be established in Thane, Navi Mumbai, Mira-Bhayander, Vasai-Virar, Palghar, Kalyan-Dombivli and Nashik in coming days. It has also conducted a 2-day skill development workshop to train new members who will join these panels. ...

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The action against 200 delayed projects cannot be taken by UPRERA

Tuesday 10th September 2019

Around 200 projects have been founded in Gautam Budh Nagar that have missed their deadlines or violated agreements with buyers but UPRERA cannot take any action against them due to their non-registration with the authority. Many builders are not accessible and the projects have been left incomplete resulting in no possession to the buyers. Therefore, the UPRERA officials have now appealed to the Noida and Greater Noida authorities to create some legal framework so that these projects can be brought under the UPRERA’s ambit as buyers are continuously complaining. ...

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Builder’s Plea dismissed by Delhi HC on RERA and CPA

Monday 9th September 2019

On a petition filed by builders like M3M India, 3C Shelters, Spaze Towers, Umang Realtech under Article 227 of the Constitution questioning that whether proceedings under CPA can be commenced by homebuyers against developers, after the commencement of RERA. While deciding on the matter, the Delhi High Court referred to the Supreme Court’s verdict thereby finally dismissing the plea filed by the builders questioning the inter-relationship of RERA and Consumer Protection Act, 1986. It held that the remedies available to the homebuyers under CPA and RERA are concurrent and there is no question of interference. ...

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MGP wants amendments in RERA

Saturday 7th September 2019

The consumer rights organization Mumbai Grahak Panchayat (MGP) wrote to the Union ministry of housing and urban affairs about amending section 3(2) of the RERA Act, 2016 by removing the word “or” and replacing it with “and” so that it would be strictly restricted to small realty projects. The condition of less than 500 sq meters and less than 8 units both need to be fulfilled simultaneously as the developers are taking advantage of the “or” inserted. ...

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MOU is enough to prove Ownership said MAHARERA

Friday 6th September 2019

When 2 homebuyers complained on behalf of MOU(Memorandum of Understanding) against a project by Sahyog Homes Ltd. In Oshiwara, the developer claimed that these were not homebuyers but investors and MOU was not registered. On this, the MAHARERA clarified that the developer should not have accepted such a huge amount when the project was not progressing and directed the company to refund Rs. 82.95 lakh with 10.75% interest from 2012 declaring MOU as enough proof of ownership. ...

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5967 complaints registered in UPRERA

Thursday 5th September 2019

Around 5967 complaints have been registered against 20 developers in UPRERA. Topping the list is Ansal Properties with 1269 complaints followed by Supertech which has 817 complaints, Rohtas project with 458 complaints while Unnati Fortune Holdings. Major fines have been imposed by authority. ...

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A shortcut to litigations-RERA’s Conciliation Forum

Wednesday 4th September 2019

Setup under Section 32(g) of the RERA Act, 2016, Conciliation Forums is like softer tools to bring the homebuyers and developers to the negotiation table instead of initial formal court proceedings. MAHARERA and UPRERA are among the few state authorities that have launched such forums. These forums tend to give solutions to homebuyers over a shorter timeline compared to a normal complaint filed with RERA. In normal complaint, it takes about 4 or 5 hearings to pass an order, whereas in case of such forums it takes maximum 1 or 2 meetings. This help in amicable and quick resolution of complaints.  ...

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Re-submission of ownership documents by Amrapali buyers

Wednesday 4th September 2019

As per the latest order of the Supreme Court, the registration process of 14000 buyers of Amrapali was supposed to have been completed by 23rd August, 2019 as residents were awaiting registry of their flats. However, they have been asked to produce a fresh set of documents to help authenticate ownership of their houses. The buyers will now have to deposit the allotment letter, builder-buyer agreement, possession letter, and no-objection certificate. After the documents are examined, a tripartite agreement is expected to be signed by the Noida Authority, an appointed signatory by the court receiver and the buyers. ...

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Slum rehab projects soon to come under MAHARERA

Tuesday 3rd September 2019

A recent circular issued by the State Government confirmed that MAHARERA will include Slum Rehabilitation projects soon. Therefore the tenants who have been facing issues due to delays in Slum Rehabilitation Authority redevelopment schemes will have a platform to approach their complaints. This move is expected to benefit over 10 lakh families who are living in slums or on rent. Due to irregularities in the redevelopment work performed by the builders in the scheme this will boost the real estate market and help in ease of the financial crunch faced by the developer as the SRA Scheme will be done on phase-wise.   ...

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Use of ICT in RERA shows positive impact

Tuesday 3rd September 2019

While giving a presentation at the international conference at I.I.M.T. University in New Delhi, the Chairman of MPRERA stressed on the use of ICT (Information Communication Technology) in the functioning of RERA and how its use has yielded good results in MPRERA. MPRERA is the first in the country to have developed software to promote the use of ICT in RERA works. The immediate results of the use of ICT in MPRERA are mainly the generation of MIS reports and easy availability of database helping in increasing business efficiency, reduction of corruption and transparency in the sector. ...

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Audit of all 3C company’s sites begun by UPRERA

Monday 2nd September 2019

An audit of all the construction sites belonging to 3C Company has been initiated by UPRERA to see if construction work is in progress at the sites. This is an ongoing process begun by RERA to check whether construction timelines are being adhered to so that further action can be taken against them. The subsidiary company of 3C Company- Granite Gate (the firm behind the Lotus Panache, Boulevard, and Zing) is facing insolvency proceedings at the NCLT.  ...

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Mohali tops in the list of RERA Punjab

Monday 2nd September 2019

Due to primary 2 reasons Mohali district tops in the RERA Registration of the real estate projects having 60% share with maximum no. of registrations at 447 out of the total of 747 registered projects till 16th August, 2019 in RERA Punjab followed by Ludhiana (13% share) and Patiala (5.75% share). Firstly the maximum no. of real estate projects is in Mohali district. Secondly, awareness among the Tricity customers is very high. Also due to exorbitant prices in Chandigarh, the buyers are turning to Mohali for their housing needs as it has all the required infrastructure and facilities of a tier-II city. ...

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Realtors of Vishakhapatnam grieves over complex RERA Act

Saturday 31st August 2019

Even after 2 years of implementation of APRERA, developers continue to be less active. APRERA has over 300 RERA approved projects as the developer claims that unrealistic clauses in the Act have forced them to shy away from getting the mandatory approval from the RERA Authorities. Therefore due to inactiveness of developers APRERA has decided to take action against developers who do not fulfill RERA criteria. ...

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Rohtas building’s office seized by UPRERA

Saturday 31st August 2019

Over unpaid arrears of RERA and laborers, UPRERA allegedly seized Rohtas building’s office in Lucknow, UPRERA. As per sub-divisional magistrate, the owner of the building is absconding. Due to non-recovery of arrears amount of Rs.63 Lakhs and Rs. 999,000 towards RERA and laborers respectively building has been seized. The stern action has been taken against the builders as even after issuing several notices this seizure has been done. ...

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11 complaints resolved by UPRERA

Friday 30th August 2019

Out of the total 16 cases filed against the builders in the 8th Conciliation Forum meeting, UPRERA resolved 11 cases in its recent meeting. 10 cases which have been filed related to Supertech, 7 cases have been resolved and the rest complaints were related to APV Realty, Gaursons Promoters, Strategic Developers and Mahagun were too resolved. More than 600 conciliation requests have been received till date in the NCR Conciliation Forum. ...

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Raheja developers asked by NCLAT to settle disputes

Thursday 29th August 2019

Responding to the petition filed by Raheja developers challenging the order of NCLT to initiate insolvency proceedings on a petition filed by home-buyers, the NCLAT has directed the realty firm to settle its dispute with the home-buyers. NCLAT bench directed the IRP not to issue any public notice and also not to constitute a committee of creditors. Homebuyers are now considered as financial creditors under the IBC, 2016. The NCLAT directed to list the appeal filed by realty firm on September 3, 2019 for orders. ...

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HRERA claiming about punishing the Government in future

Wednesday 28th August 2019

Over the alleged non-usage of External Development Charges, the HRERA claims that it will look into penalizing the Government in the near future for the same. HRERA Chairman agreed that currently, RERA is not a complete code to oversee the Indian Real Estate Sector. There are major defects which need to be sorted out like variations in the decision of state RERA Authorities has created a lot of confusion, Section 80 of the RERA Act, 2016 dealing with Cognizance of Offences need to be dealt with. ...

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UPRERA needs more powers

Tuesday 27th August 2019

In order to avoid an overlap with the proceedings in the NCLT and other courts, UPRERA moved out of 2 stalled housing projects in Noida and also withheld 55 notices filed by homebuyers. UPRERA member said the limited powers granted to RERA needs a relook and few changes to make the regular more effective. If there is an overlap in a case where a project needs to be taken over and driven to the completion, the NCLT and other courts proceedings will prevail. ...

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Direction by MAHARERA to Epitome Residency

Tuesday 27th August 2019

Invoking Section 18 of the RERA Act, 2016 MAHARERA directed Epitome Residency to refund, with interest, almost Rs.2.4 crore for a flat booked on the 43rd floor of Imperial Heights Tower C in Goregaon for the delayed possession. To provide relief to the buyer, the argument of builder’s lawyer convincing that the delay reasons were beyond his control to issue the OC were also put down by MAHARERA. ...

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Insolvency proceedings inititated by NCLT

Tuesday 27th August 2019

Provoking Section 7 of the Insolvency and Bankruptcy Code 2016 NCLT has initiated a corporate insolvency resolution process against Raheja Developers. The builder was not able to supply the basic amenities like the supply of water. Hence, NCLT admitted buyer’s petition and ordered the builder to supply these amenities. To initiate the proceedings the buyer has been ordered to deposit Rs.1 lakh to the IRP to meet the expenses to perform the function within 3 days of the order. ...

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12 conciliation panels to be soon launched by MAHARERA

Monday 26th August 2019

To address issues between aggrieved consumers and developers and ensure timely completion of projects the MAHARERA will soon have 27 Conciliation panels across the state. Currently, 15 conciliation panels are in operation- 10 in Mumbai and 5 in Pune. The additional 12 panels will soon be launched for Pune, Thane, Navi Mumbai, Nashik and Nagpur. The panels comprise a consumer representative and a developer representative who interact with banks, homebuyers and builders for the timely completion of the projects. ...

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MAHARERA declares society as promoter

Monday 26th August 2019

A housing society in Vidyavihar has been declared as a co-promoter of the project by MAHARERA where the society has been penalized with Rs. 15 lakh for violation of Section 15 of the RERA Act, 2016. Section 15 states that prior consent of two-thirds of flat buyers and written approval of the authority is mandatory before transferring development rights. Revoking HC order MAHARERA held that since the society executed an agreement with the builder for the construction of a new building by demolishing the existing one and sell additional flats, it comes under the definition of the promoter. ...

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100 ghost realty projects identified by UPRERA

Friday 23rd August 2019

Around 100 ghost realty projects have been identified by UPRERA authority, which builders have abandoned leaving homebuyers and investors with no hope in sight. The authority has asked the Noida, Greater Noida and Yamuna expressway industrial development authorities to identify more such projects because the deadline to approve maps of these realty projects' building maps has elapsed. UPRERA wants the local authorities to conduct a survey to determine the actual number. ...

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RERA notice served to GDA

Friday 23rd August 2019

GDA was served with a notice by UPRERA over its failure to appear before the regulator in a case related to the Indirapuram housing scheme for the economically weaker section. The UPRERA bench has threatened the GDA officials to pass an ex-parte order if they do not appear on 29th August, 2019. As per RERA Rules, all development agencies and private builders are required to update their projects so that they can be accessed easily by the buyers and the status of the projects are in the public domain. ...

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Single Window system to be launched soon by UPRERA

Friday 23rd August 2019

UPRERA Chairperson clarified that the single window system will be launched in mid-September. Citizens and developers would be able to get maps approved, lodge complaints and secure progress reports and no-objection certificates for projects. All information about the facility will be made available online. Citizens will also be able to file complaints in case builder is delaying possession of a unit and also seek information about promoters. ...

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RERA should be amended to plug loopholes

Wednesday 21st August 2019

In an event organized by industry chamber PHDCCI, Gurugram RERA Chairman asked companies to make suggestions to the Government for necessary amendments to RERA Act to make it dispassionately objective for both builders and home buyers. In the current format, several sections and sub-sections of the Act are contradictory in nature and are open for many legal interpretations and therefore an amendment to them is necessary to get a fair deal so that the intended growth of the sector is ensured. Hence, the law should be amended to plug loopholes and make it more effective for the interest of all stakeholders. ...

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Step towards RERA Amendments by the Centre

Tuesday 20th August 2019

After receiving many valuable inputs at the workshops conducted, the Union Housing and Urban Affairs Secretary has confirmed at the 15th National Convention of the NAREDCO (National Real Estate Development Council) that the Government is working towards amending several provisions of the RERA Act, 2016 which will benefit both developers and homebuyers. The discussions will be initiated soon and changes would be made in the law wherever required. ...

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Fees increased to register projects with Rajasthan RERA

Monday 19th August 2019

The builders have to spend more money to register their projects with Rajasthan RERA. The authority has imposed standard fee along with registration charges. The new fees shall be applicable from 1st September, 2019. Also, apart from plotted schemes promoters of housing schemes will have to pay Rs.20 per square meter as a standard fee. Delayed penalty charges for registration of ongoing projects shall also be levied.  ...

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UPRERA approached by 100 shop-owners of IHC

Saturday 17th August 2019

Grieving over the case of double selling and misappropriation of funds by the builder, more than 100 shop owners of IHC approached the UPRERA and submitted a detailed report to it as they want to take-over the project and construct it themselves. The authority has ordered the promoter to provide a list of allottees in phase-1 for registration of sub-lease deed while the IHC buyers association were asked to provide the details of rent the builder was receiving from the tenants of the project. ...

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Delay possession charges to be paid ordered by HRERA

Saturday 17th August 2019

Exercising the power under Section 37 of the RERA Act, 2016, the HRERA ordered Emaar MGF Land to pay the delay possession charges @10.60% p.a. from the committed date of possession to the actual date of delivery of the property for its project Palm Hills situated in sector 77, Gurugram. Although being served with the notice, the developer didn’t appear and the concerned amount of charges are to be paid within 90 days from the order date. ...

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Direction to Ajnara, Gardenia, etc. by UPRERA to submit project completion plan

Friday 16th August 2019

A review meeting was held by UPRERA to ascertain the current status of Ajnara’s Ambrosia, Antriksh Valley, Sunworld Arista, Gardenia’s Golf City, and Gardenia Glory projects both physically and financially. A direction was issued by UPRERA to the above-mentioned projects to submit a completion plan of their respective projects. It has also directed the promoters to take up the certain initiative to regain the trust of buyers and assure cash flows for timely delivery of flats. ...

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Supreme Court warns local authorities in Amrapali Case

Wednesday 14th August 2019

The Justice of the Supreme Court warned the officials of Noida and Greater Noida authorities to comply with the July 23, 2019 order issued by it, thereby starting registration of flats in favor of Amrapali homebuyers within a month and also issue a completion certificate for the projects where homebuyers are already residing. It has also clarified that non-compliance of the said order can lead to imprisonment of the concerned officers in this case. ...

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Forensic audit ordered by GUJRERA

Wednesday 14th August 2019

Due to a dispute between the landowners and the promoters on account of land, the project incompletion has led to non-possession of the apartments of the project to the homebuyers. 42 of the 200 homebuyers approached GUJRERA for a project located at Bhayli, Vasna Road in Vadodara for proper action. Therefore, the GUJRERA will appoint an independent auditor as per the order issued by GUJRERA to conduct the forensic audit to verify the project receipts, payments, receivables, and payables, along with the estimation of work needed for completion of the project. ...

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Recommendations of CREDAI to the Finance ministry

Tuesday 13th August 2019

The apex body of the real estate sector, CREDAI, has presented its written recommendations to the Finance Ministry which includes that approving authorities (BMC) and other may be brought under the ambit of RERA to minimize delays. Other demands like a refund to allottees under Section 18 (1) of the RERA Act, 2016 may not be permissible in case of ongoing projects as it jeopardizes the project since the purpose of RERA is the completion of the project. Some other developer-friendly demands have also been made by it in the letter. ...

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HREAT clarifies that RERA can grant interest on delay in possession

Tuesday 13th August 2019

Dismissing 95 applications of builders, the Haryana Real Estate Appellate Tribunal (HREAT) clarified that the RERA is competent to handle the complaints where the claim is only for grant of interest simpliciter due to delay in delivery of possession and consequently award interest. It cleared that the adjudicating officer can only intervene in cases where the claim was for refund and compensation along with the interest. There cannot be two separate forums, i.e., one for regulating the development of real estate project and another forum to grant interest for delayed possession. ...

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MAHARERA should include unregistered projects

Tuesday 13th August 2019

The Union Minister of housing and urban affairs clarified that he would be writing to Maharashtra Chief Minister and MAHARERA to bring the unregistered projects under the ambit of RERA. Arguments were held that no amendment is needed in Section 4 (2) (c) of the RERA Act, 2016 to typically produce certificates for registration, registering projects without the certificates will bring huge unregistered projects under the ambit of RERA. ...

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Developers see big opportunity in J&K, Ladakh

Monday 12th August 2019

After the nullification of Article 370, the Indian real estate developers will invest in Jammu and Kashmir, and Ladakh region. The Chairman of CREDAI expressed his happiness that even during the tough times that the sector is facing the presence of a large number of developers to perform has motivated him. He added that there is a huge opportunity to develop infrastructure for tourism like golf courses, hotel, and other facilities. The problem of terrorism could also be addressed through development with the participation of local people. ...

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Realty sector issues to be resolved soon

Monday 12th August 2019

The Finance Minister Nirmala Sitharaman met developers, members of RERA and the homebuyers to understand the issues weakening the sector. The issues that were addressed in the meeting included the creation of demand, ongoing liquidity issues, stalled projects, and homebuyer’s interest. The Government has met industry representatives to revive the economy. The Chairman of CREDAI suggested that the RERA should be given due recognition in the resolution of legacy issues, adding that if finance institutions also come under the ambit of RERA, there is a possibility of faster resolution. ...

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RERA should be applied to Unregistered projects as per Punjab RERA Tribunal

Monday 12th August 2019

To provide a remedy to the consumers connected with the unregistered projects, the RERA Punjab Tribunal clarified that the jurisdiction of the RERA Applicability will extend to the unregistered projects too. Consumers of unregistered projects will not be deprived of RERA remedial measures. Quashing an order passed by the RERA Punjab authority, it has made cleared that promoters not registered with RERA shall not enjoy any premium for breaking the law and the provisions of the RERA Act, 2016 shall also be applicable on promoters of projects that are not registered with RERA. ...

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Bank accounts of builder seized by the UPRERA

Monday 12th August 2019

After no response to the notice issued by UPRERA to the Lucknow based builder slapping a fine of Rs.1 crore for not providing possession of the plots to the allottees even after 4-5 years, the team of UPRERA had sealed 2 bank accounts of the developer and seized assets valuing Rs. 1 crore at his office in Gomti Nagar. ...

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Registration of flat allowed in Bihar even if project not registered with RERA

Thursday 8th August 2019

The Bihar Registration Amendment Rules, 2019 was approved by the cabinet which clarified that registration of flats are still allowed even if the project was not registered with the RERA, Bihar provided any of the dwellings in that apartment had been registered with excise, prohibition, and registration department till 30th August, 2018. ...

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UPRERA confirms that collection account maintained by builders is wrong

Wednesday 7th August 2019

The correct practice of allocating money was that promoters have to receive all the amount in the separate account, firstly allocate 70% of the money in a separate account as per Section  4(2)(l)(D) of the RERA Act, 2016 and then remaining 30% in another account. It has been clarified that this 70:30 ratio has to be maintained from the inception of the project. The Chartered Accountants of RERA will be verifying all the project accounts maintained with different banks. ...

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Notice served by the RERA Bihar on defaulting builders

Tuesday 6th August 2019

After asking the real estate developers with the earlier order to submit the fund utilization declaration, now it has started singling out the particular builders who have not obeyed the order. Therefore, the RERA Bihar issued show-cause notices to 25 builders for the non-submission of audited statement of bank accounts of ongoing real estate projects for 17-18. The builders have also failed to submit the progress report of the ongoing projects. All these orders were issued to check the appropriate diversion of funds for an ongoing project. ...

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Modification in rules proposed by Madhya Pradesh RERA

Monday 5th August 2019

To ensure speedy dispute redressal in the legal procedures, the Madhya Pradesh RERA has proposed a modification in the RERA rules 27 and 28 that deal with the recovery of interest, penalty, and compensation, implementing the orders, etc. to have a district judge level officer as an executing officer with the powers of the civil court as well as revenue court so that the matters don’t get delayed and orders get executed in their true spirit. ...

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Noida authorities moved to Supreme Court for Amrapali Dues

Saturday 3rd August 2019

An order passed by the Supreme Court was provisioned for the safety of homebuyers and not for the authorities. Therefore, the Noida and Greater Noida authorities have filed an application in the Supreme court in the Amrapali case, seeking clarity on how to recover their dues of Rs. 5400 crore. The authorities have attached the 12 properties of the developer and still, their dues are pending. ...

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Own use of property do not require RERA registration with TNRERA

Friday 2nd August 2019

The “Usage Factor” matters, as clarified by the TNRERA authority. A clarification has come which states that if the projects are meant for developing the properties for personal use/ builders letting them out on rent, there is no need of RERA registration of such housing projects with the TNRERA authority. Any kind of ceiling limit of 500 square meters or 8 units of flats need not to be followed for such usage. ...

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NCLT opinion was sought by UPRERA before deregistration

Friday 2nd August 2019

Due to duplicacy of the jurisdiction in resolving consumer grievances, an issue has arisen where due to 1 investor seeking a refund on his investment with NCLT consequence of which an Interim Resolution Professional has been appointed, all the UP-RERA proceedings have been put on hold and the rest buyers who have approached UP-RERA are now in a fix. Therefore, UP-RERA has asked for NCLT's opinion before de-registering the project of Airwil Intelicity in Greater Noida jurisdiction. ...

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Warning by TSRERA to the public about unregistered projects

Thursday 1st August 2019

Failing to comply with so many reminders given by the TSRERA authority regarding registration of projects to the builders for the properties which have been sanctioned permissions between January 1, 2017 and August 31, 2018 along with last deadline of Rs 3 lakhs penalty  till 31st July , 2019, the TSRERA Chairman informed in a release that such projects will be published with their names in press for cautioning the public not to purchase such unregistered projects apart from levying penalty on those projects. ...

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RERA amendment must be done

Wednesday 31st July 2019

Pointing out some of the loopholes in the RERA Act, 2016, the chairman of Haryana and Madhya Pradesh suggested to bring in more transparency by making necessary amendments into the original act. They portrayed that the duplicacy of jurisdiction for dealing with the grievances should come to an end. RERA should be the only place for dealing with the homebuyer’s grievances and any violations of provisions of this act. In order to keep its credibility, RERA must be given more powers to implement its decisions. ...

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Panels setup by MAHARERA to revive the stuck realty projects

Wednesday 31st July 2019

In order to fulfill the prime objective of the RERA Act, 2016 to give relief to all the stakeholders associated with the project, the MAHARERA has created unique resolution panels comprising of Consumer representative and a Developer representative. The panel will interact with banks, homebuyers, and builders who could potentially take over the project to complete it on time. With the motive to protect the consumers from the loss of decreasing prices of property which could be held under the right given in IBC rules a mid-way has been found by creating these panels. ...

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Forensic audit of all the 3C projects ordered by UPRERA

Wednesday 31st July 2019

The directions have been issued by the UPRERA to Noida and Greater Noida authorities to launch a forensic audit into the financial and landholdings of the 3C company. All the 21 projects launched by 3C shall be inspected for financial misappropriation for which the time period of 2 months has been given to the local authorities to submit their reports to UPRERA. All the housing projects introduced between 2010 and 2012 by the 3C company are yet to be delivered to the homebuyers.   ...

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Stress fund to be proposed by the UPRERA to complete pending projects

Monday 29th July 2019

In order to provide financial help to the stressed homebuyers and to improve liquidity issues for the promoters, the UPRERA is all set to propose the creation of a stress fund to complete the pending realty projects at its board meeting in Lucknow after which it is likely to send it to the UP Government. Knowing the huge count of flats that are pending where builders are in a financial mess the Government needs to enter this situation to help the cash-strapped builders with initial liquidity. ...

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Notices issued to RERA and DDA by the Delhi High Court

Friday 26th July 2019

On the public interest litigation filed by a financial economist contending that the DDA has violated the real estate regulation laws by not registering its housing scheme of 2017 and 2019 with the RERA authorities, the Delhi High Court has issued notices to the RERA authorities and DDA (Delhi Development Authority) seeking their stand on the petition for which the next hearing is due on 19 November, 2019. The petition claimed that the DDA did not provide to RERA a copy of the authorized prospectus of the sanctioned plans of the projects under the two schemes. ...

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RERA notified in 30 states

Thursday 25th July 2019

Replying to the Supreme Court’s query on the status of implementation of RERA in states, the Centre reported the court that around 42726 housing projects and 33906 real estate agents have been registered under the RERA Act, 2016 and more than 20,000 complaints have been resolved under this Act till date. The process of RERA implementation is still under progress in states like Meghalaya, Nagaland, Sikkim. Around 29 states/ UT’s have set up the RERA Authority and 22 states/UT’s have set up the RERA Appellate Tribunal. ...

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30% complaints resolved by Karnataka RERA

Thursday 25th July 2019

Out of total 3958 complaints registered with Karnataka RERA against builders, around 1174 complaints have been resolved comprising of 30% of the total complaints received. Still, 2700 complaints are being heard currently and will be resolved at the earliest. However, in about 150 cases buyers have withdrawn their complaints after working out a compromise with the builders. ...

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A plea seeking replacement of West Bengal’s HIRA with RERA will be heard by the Supreme Court

Thursday 25th July 2019

A petition filed by the group of activists from Kolkata seeking an order to declare HIRA as ‘ultra vires’ as per the Constitution and to replace the HIRA with the RERA Act, 2016. Putting Article 254 of the Constitution as their main point they have clarified that if any provision of law made by the legislature of a state is in contravention to any provision of a law made by the Parliament, then the law made by the Parliament shall prevail, hence seeking to declare HIRA unconstitutional and void. Finally, the Supreme Court has agreed to hear a plea seeking direction to West Bengal’s HIRA with RERA Act, 2016. ...

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Realty check in Kerala

Wednesday 24th July 2019

As per the latest status report from the Ministry of Housing and Urban Affairs, even after 3 years of the RERA Act, 2016, Kerala remains the only southern state that neither registered a project nor disposed of any complaint in the realty sector. Also, any information about the report of the committee constituted to select the chairperson and 2 members of the RERA has not been disclosed. ...

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Supreme Court cancels the RERA Registration of Amrapali Group

Tuesday 23rd July 2019

To provide relief to the homebuyers, the Supreme Court recently has canceled the registration of Amrapali Group under RERA, thereby banning the real estate company from undertaking any housing project even in future. Therefore to complete the 42000 flats in various projects of the Amrapali Group, the state-run builder NBCC (National Buildings Construction Corporation Limited) has been engaged. Also, the court has ordered Money Laundering cases to be registered against the Amrapali Group MD and CMD. ...

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MREAT revoked MAHARERA orders of penalty

Tuesday 23rd July 2019

Invoking Section 3 of the RERA Act, 2016, where a project registration is not required if either the developable area of the project is less than 500 sq meter or the number of units are less than 8, the MREAT (Maharashtra Real Estate Appellate Tribunal) has quashed 2 MAHARERA orders penalizing a developer for not registering his project. The MREAT order exempted the developer Geetanjali Aman Constructions from registering the project with the MAHARERA and also set aside the Rs. 30 Lakhs penalty imposed on the firm. ...

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UPRERA heard 16 cases in 6th Conciliation Forum meeting

Saturday 20th July 2019

To provide speedy dispute redressal to the concerns of the promoters and the buyers the UPRERA Conciliation Forum authority heard a total of 16 cases in the 6th Conciliation Forum meeting held in NCR. It has resolved total 7 cases of Supertech. Apart from this, 3 cases related to Jaiprakash Associates, one case each of ATS Homes, Gaursons India, SVP Builders India, Arihant Infra Realtors, UP Township Infrastructure and Vacational Education were also heard. ...

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Supreme Court seeks status of implementation of RERA Law

Friday 19th July 2019

After seeing the grievance status of the homebuyers despite the establishment of the RERA Act, 2016, the Supreme Court has taken a decision to know the status of implementation of the RERA Act, 2016 across all the states. Several states have proxy authorities in place and some of the states have not even constituted the Appellate Tribunal. The Court has witnessed an improper implementation of the RERA Act, 2016 in many states due to which it has demanded the list of all such defaulting states by 23rd July, 2019.   ...

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MAHARERA revives the Choksi’s project

Friday 19th July 2019

Using the powers under section 7 and 8 of the RERA Act, 2016 MAHARERA revives the project of construction of 20 storey Tatva Urja in Borivali East which was left by the absconded Mehul Choksi. The project will be resumed by Laxmi Infra Developers Ltd. The developer has agreed to complete construction within 9 months and will be given three months grace period to get Occupancy Certificate by February 2020 as per the consent terms. ...

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DTCP barred junior officials from issuing OC’s in Gurugram

Wednesday 17th July 2019

DTCP (Department of Town and Country Planning) canceled 165 OC’s (Occupation Certificates) last month due to various illegal constructions. The district town planner ordered that the certificate will not be given till an assistant town planner-level official visits a site and gives approval that also has to submit a video of the site that is recorded during the visit. Any violation found in this regard will lead to blacklisting of the concerned architect.   ...

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MAHARERA tied up with CREDAI to train construction workers

Tuesday 16th July 2019

MAHARERA Chairperson announced a tie-up with the real estate association CREDAI for training workers in the MAHARERA registered sites in the state over 5 years. The chairperson is urging developers and contractors to get their workers registered with the state’s board of Building and Other Construction Workers (BOCW). It is not only for compliance, but there are several benefits of registration. As per the estimation, the number of 15 lakhs is certainly achievable. ...

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Relief claimed by the residents for structural defect under MAHARERA

Monday 15th July 2019

Due to the collapse of the compound wall of Alcon Stylus which was a support to the open parking area killing over 15 construction workers living in makeshift shelters in an adjacent plot, structural defects can be claimed by the residents. The Act clarifies that the residents can claim damages for any structural defect within a period of 5 years from the date of handing over of the possession. It is the duty of the promoter to rectify such defects within 30 days or pay appropriate compensation irrespective of the registration period. ...

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MAHARERA orders auction to compensate to the homebuyers

Friday 12th July 2019

The accusations and nicknames like toothless tiger awarded to the RERA authorities have been proved wrong when it has initiated the process of auction of the clutch of properties belonging to Ravi Developers in Kandivali which will be carried out by the Suburban Collector’s office on August 6, 2019. The auction will give heart to thousands of home buyers who were not given timely possession of their apartments by the builders who were thereby paying EMI’s for housing loans for years beyond the date of possession. ...

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20,000 complaints disposed off under RERA Act, 2016

Friday 12th July 2019

According to the reliable sources, as on June 30, 2019 around 20,000 cases have been disposed off through prescribed grievances redressal mechanism under the provisions of the RERA Act, 2016. RERA provides proper protection to homebuyers, and the states were given powers by the law to notify their respective rules and appoint regulatory authorities. ...

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The 3C Green Developers served with SCN by the UPRERA

Thursday 11th July 2019

Due to non-compliance of the terms and the conditions of the lease deed and the sanctioned plan, the UPRERA Authority issued SCN (Show cause notice) to the 3C Green Developers asking as to why the registration of the project Lotus Yardscape Phase-I in Noida be not revoked which is to be replied within 30 days. The 3C developers were trying to implement the project with the help of Prateek Group. Also, the builder had no intention to complete the project.   ...

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RERA Bihar fined a defaulting firm with Rs. 25 Lakh

Thursday 11th July 2019

Phenomenal Projects, a Patna based Real estate firm has been imposed a penalty of Rs.25 lakhs under section 59 of the Act (negotiated 5% of the estimated cost of the project) by the RERA Bihar Authority for non-compliance of the provision of Section 3 of the RERA Act, 2016. The promoters had advertised the project without registering it with the RERA Authority. The firm has been given 60 days time to pay the penalty amount. ...

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99% of the cases filed in GUJRERA settled by the builders

Thursday 11th July 2019

Between July 2018 and till now the GUJRERA Authority has heard and disposed of 220 cases filed by the homebuyers under section 31 of the RERA Act, 2016. Surprisingly, out of 220 cases, there is just one case, which has been found on which the GUJRERA Authority has levied a penalty of Rs.5000, otherwise, the rest 219 cases were settled by the mutual consent of both the parties before the issuance of the final order. ...

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RERA Bihar Appellate Tribunal to be live soon

Wednesday 10th July 2019

The Chairman of the RERA Bihar declared that the official functioning of the Appellate Tribunal of RERA in Bihar will start within the next 20 days where the unsatisfied builders or real estate buyers can appeal to the tribunal. Also, the accounts and finance team of RERA will now keep a tab on the accounts of builders to ensure that all the money invested by the consumers is being used for that project only. ...

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MPRERA freezes bank account of SVS Buildcon’s project

Thursday 4th July 2019

To protect the interests of homebuyers, MPRERA has recently decided to suspend the registration of Uni Homes project by SVS Buildcon and ban and freeze the bank accounts. The RERA Authority has banned the registration of sales letters and has recognized the project as invalid. Despite many reminders issued to the project to submit the reports, it has turned deaf ears to the notices. ...

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9 developers were served notices by the RERA Rajasthan

Thursday 4th July 2019

For allegedly violating the norms the authority canceled the registration of one project while issuing SCN (Show cause notices) to others for advertising their projects without getting registered under the RAJRERA. After examining that the land does not belong to the promoter allegedly claiming that the land belongs to him, the RAJRERA canceled the registration. The developers have issued notices u/s 35 (1) of the RERA Act, 2016 to advertise without registration for which seven days are given to explain their action. ...

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TSRERA to soon launch Grievance Redressal Mechanism

Tuesday 2nd July 2019

Still lacking behind in launching Complaint section on its website, TSRERA is now getting ready to start Consumer Grievance Redressal Mechanism from July by forming 10 member body comprising of representatives of the industry and residents welfare associations. For the time being, they are accepting written complaints until an online mechanism to register grievances becomes operational.   ...

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GUJRERA issued first warrant against Vadodra builder

Friday 28th June 2019

GUJRERA issued the warrant on June 12, 2019 to the Vadodara District Collector to recover 28.27 lakhs from a builder, Kalpesh Raiyani for not giving possession of a flat he promised to his customer in his scheme Dove Deck project on Ajwa Road. On October 29, 2018, the GUJRERA has ordered the builder to return the money with 8.45% interest. The builder was also asked to pay Rs.30,000 extra towards compensation. The builder did not honor the authority’s order and hence recovery warrant has been issued. ...

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Official Delhi RERA Portal launched

Thursday 27th June 2019

Although previously the portal for Delhi RERA existed, the main activities were carried out through Offline mode only. Therefore to promote transparency and accountability in the Real Estate Sector, the Lt. Governor Anil Baijal announced the launch of the official portal of RERA in the state (https://rera.delhi.gov.in). Soon to have features of Interactive Forum for knowledge sharing with other RERA’s. ...

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Petition filed against qualification of GUJRERA members

Wednesday 26th June 2019

The Petitioner Title Investigators & Conveyancing Advocates’ Bar Association has challenged the appointment of the chairman and members of the authority claiming that the required qualifications were not considered while appointing the Chairman and Members of GUJRERA. They have also challenged the Circular issued on May 23, 2019 about the format of the ‘Agreement to Sell’ for real estate projects. The next hearing is due on July 8, 2019 to decide the matter.  ...

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A plan to setup common platform for RERA of all states

Wednesday 26th June 2019

In order to make RERA “more strong,” the Centre has planned to setup a common online platform for the RERA of all states and UT’s. Through an online platform, any state RERA can study an order of other states in a particular matter. Also, homebuyers and builders can give their views on the issue. As per the norms of Pradhan Mantri Awas Yojana (Urban), home-buyers will not be able to avail Credit Linked Subsidy Scheme (CLSS) under the mission if real estate project is not registered under RERA. Under PMAY (U), home-buyers can avail an interest subsidy of upto 2.67 lakh. ...

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RSC reports 262 illegal projects to UPRERA

Tuesday 25th June 2019

Satellite images took by the Remote Sensing Centre (RSC) on the directions of UPRERA revealed that there are 262 illegal projects on the outskirts of Lucknow for which no records were found in LDA or Zila Panchayat. About 106 projects in Zone-1( Sitapur-Faizabad road), 85 in Zone-2 (Faizabad- Rae-Bareli Road) and 71 in Zone-3 (Rae- Bareli- Sitapur Road). After obtaining a detailed report from RSC, actions will be taken by the local authorities. ...

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UPRERA fines Ansals Rs. 1 crore

Tuesday 25th June 2019

Due to certain conditions imposed on Ansal API in October, 2018 for transfer of assets, no sale or mortgage by UPRERA, non- compliance of which has imposed Rs. 1 crore fine on them for which they have been given a month’s time to deposit. The UPRERA has also ordered the builder to investor’s money in the designated escrow accounts of the project. However, the decision to de-register Ansal’s projects has been deferred until the payment of the fine. ...

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Homebuyers not able to get compensation under Karnataka RERA

Monday 24th June 2019

Lacking the powers to enforce the orders RERA has referred the cases to Deputy Commissioners (DC )of districts asking them to auction properties of defaulter developers and pay out compensation. RERA has referred many cases to DC where the compensation ranges from Rs. 2 lakhs to Rs. 1.5 crores. Frustrated over the delay some consumers have compromised with builders and some of the cases have been settled without any compensation. ...

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Public body selling land to builders cannot be made co-promoter in MAHARERA

Thursday 20th June 2019

After receiving complaints from Navi Mumbai builders who are members of CREDAI- MCHI (Raigad) the MAHARERA order clarified that the City and Industrial Development Corporation (Cidco) cannot be made a co-promoter when it has sold the land to the builders in which off-site infrastructure around the plot is not mandated to be done by Cidco. In otherwise case, the builder can include Cidco as a promoter (land-owner).   ...

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UPRERA calls actual buyers of Unnati Fortune’s project

Wednesday 19th June 2019

Invoked by Section 7 of the RERA Act, 2016 to step-in and facilitate completion of abandoned projects the UPRERA Authority has initiated the process by calling out actual owners of flats to weed out multiple allottees. Initially, it was difficult to know about the true buyers, but the fresh registration of all the buyers would help for the same. The developer of this 1500 crore project has left the country for which a new developer has been chosen by the buyers to complete their project ...

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MAHARERA penalised the developer for over Rs.1 crore

Tuesday 18th June 2019

An ex-parte order was passed by MAHARERA’s Pune bench directing the realty company Yemul and Sancheti Associates to pay over Rs.1 crore along with the accrued interest to petitioner Manjusha Bhusari to whom he owed a flat for which the land was acquired by him for Rs. 3.75 crore and only Rs.25 lakhs had been paid so far to the owner. Neither had he completed the construction nor has he given some more amount of consideration. ...

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MAHARERA orders the developer to refund the homebuyer’s money

Monday 17th June 2019

The MAHARERA has ordered the developer of Marathon Nexzone project in Panvel to refund a sum of Rs. 86 lakhs and Rs.50.16 lakhs with 10.75% interest- a cumulative amount of two homebuyers as the developer has failed to give possession as promised in the agreement. Since the developer revised the possession date to December 31, 2020, and the homebuyers had a home loan, therefore, they sought to withdraw and seek a refund. ...

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Advertisement expenses not to be claimed from separate account amount in MAHARERA

Friday 14th June 2019

Although Section 4(2)(I)(D) clearly specifies that the 70% funds in separate account can be used only for construction, but to clarify thereon the MAHARERA Rules has made an amendment to specify that the developers can no longer claim expenses of Advertisements, promotions, all the marketing costs, etc. from the 70% amount. It can be claimed from the remaining 30%, which means that more money will be available for completion of housing projects. ...

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UPRERA finds 57 illegal residential projects

Thursday 13th June 2019

Satellite images taken by the Remote Sensing Centre (RSC) on the request of UPRERA has helped to identify 57 illegal projects on the outskirts of Lucknow. The inspection was initiated due to the complaints lodged by 2 allottees in March. More than 150 cases have been observed where the builders have asked for more registration money than 10% value specified in Section 13 of the RERA Act, 2016. Although notices would be served to them by UPRERA, buyers need to be more cautious about the registration of a project with the local authority. ...

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No progress in the work of Greenopolis despite the order of HRERA

Monday 10th June 2019

Though HRERA has ordered the developers of Greenopolis in Sector 89 to complete 600 flats by July 31, 2019 still the project has seen no progress thereafter. Around 1800 flats had been sold in the project in which the buyers had already paid over 80% of the price to the builders. The buyers are grieving over the siphoning off their money as no answers are being received from the developers. ...

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UPRERA tells local authorities to keep an eye on Encroachment

Friday 7th June 2019

UPRERA Authorities alerted the local authorities about the need to regulate illegal construction at Shahberi-a rural area beyond Noida extension. Expanding encroachments has become a common problem in most areas and need to be controlled. Shahberi’s land is under legal stay from Allahabad High Court and any construction there is illegal. Any detection of work there is likely to be sealed and demolished.   ...

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Title Insurance not so developed concept in MAHARERA

Thursday 6th June 2019

While the RERA Act, 2016 mandates the purchase of Title Insurance for all new and ongoing property projects registered with the Authority, the concept of Title Insurance has not taken off so well in the state. Title Insurance is a form of Indemnity Insurance which insures builders and customers against financial loss from defects in title and from the invalidity of mortgage loans. Due to the high premium charged, calculation of which is currently being done on project cost, many approved products of insurers for Title Insurance have not gained any attraction.   ...

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Revival of NRI’s interest in real estate after RERA

Wednesday 5th June 2019

Past experiences of project delays have resulted in investors shying away from the Under-construction projects. From being the most attractive segment for NRI for investment purposes it has gone on to take the back seat. However, after the introduction of Real Estate Law (RERA Act, 2016) it has shown the sign of revivals making Hyderabad the highest NRI Search sessions, followed by Mumbai and Bengaluru. A stronger dollar has renewed NRI Interest in India’s property markets improving 30-40% from last year.   ...

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MAHARERA activates Non-execution tab during the appeal process

Tuesday 4th June 2019

 After following a writ petition filed by 69 year old Kandivali home buyer in the Bombay High Court, MAHARERA has now changed the process and activated the non-execution tab from which the homebuyers would be able to file application for non-execution of the orders given by the Authority while the appeal process is on, but will hear the application only after the mandated 60-day period is over and after checking the status of the appeal with the Tribunal.  ...

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Hefty Penalties levied by Bihar RERA

Monday 3rd June 2019

For non-compliance of Section 3 of the RERA Act, 2016 which states that a builder is not allowed to advertise, market, book, sell or invite people to purchase in any manner any plot, apartment or building in any real estate project without registering the project with the RERA Authority, the authority has slapped penalty of Rs. 32 Lakhs on Aryavart Lifespaces Pvt. Ltd. and of Rs. 27 Lakhs on Patligram Builders Pvt. Ltd. It has asked them to pay the fine within 60 days of the issuance of the order.   ...

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MAHARERA Rules plea to cover Rehabilitation component under RERA

Saturday 1st June 2019

To end the long wait for consumers to be compensated under the Rehabilitation scheme, the MAHARERA officials have sent a letter to the Chief Minister of the State to get the approval of this amendment proposal. It would bring in over 10000 Slum and Housing Area projects under the ambit of the RERA Act, 2016 with a specific deadline for registration. It would benefit around five lakh families. Many officials said if all redevelopment projects were brought under RERA then many housing societies would be relieved because they would not have to approach courts.   ...

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Jharkhand RERA gave 3 months deadline to ongoing projects

Friday 31st May 2019

Due to administrative issues it took some time for Jharkhand RERA to become fully functional, with all those ground works over, it now focuses to strengthen and streamline its functioning to meet its objective with which it is formed. So far 100 projects have been registered across the states which in reality are far more than this.  After receiving regular complaints from the aggrieved customers it has now given a final three-month window to all such erring builders who have failed to register, as a failure of which strict penalty actions shall be taken.   ...

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UP-RERA to set up SIT to investigate Unnati Fund Diversion

Friday 31st May 2019

UP-RERA has requested the State Government to institute a SIT (Special Investigation Team) to track how and where Unnati Group has diverted the funds of Rs.147 Crore raised from the buyers. As per the sources, it is known that the amount was generated by allotting over 100 flats each to two or three buyers. UP-RERA officers assured the buyers that it would not affect the progress of the work in Phases 3, 4 and 5 which will be completed by a co-builder following Section-7 of the RERA Act, 2016, which makes provision for UP-RERA to step in and facilitate completion of abandoned projects. ...

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Sanctioning delay holding the projects in Haryana

Wednesday 29th May 2019

HRERA Chairman himself admitted that the Government agencies which are sanctioning the approvals of projects should be held equally responsible for delay as they take their own time to approve the projects. To ensure speedy actions, HRERA for the first time had directed that the application forms for buying a flat under affordable housing scheme should be available at the Government offices. ...

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RERA being blamed for inaction in Karnataka

Wednesday 29th May 2019

Blaming cycle continues when 37% of 2581 projects registered under RERA Karnataka fails to meet the completion deadline. According to the RERA Act, a builder has to declare the completion date at the time of registration and in case of failure to meet the deadline, he can seek extension once for a maximum of one year.  In case the project is not completed within the maximum allowed time frame the RERA can confiscate his escrow account and initiate legal action. The authority seems to be helpless in this case. ...

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Land market tightened by RERA in Rajasthan

Monday 27th May 2019

Many homebuyers have approached JDA (Jaipur Development Authority) to complain about the colonies which are not made as per the approved plan. In order to lure the homebuyers, these colonies firstly offer many facilities and construction is done oppositely to make more money. The illegal business of non-regularised plotted colonies on agricultural land continues to flourish in the state capital leaving homebuyers in a fix. For the regularised market, the Urban Development and Housing (UDH) department has implemented RERA to check the authenticity of projects.   ...

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Major step taken by UP-RERA to de-register the project

Saturday 25th May 2019

After many strict warnings served almost 3 months ago to Unnati Fortune’s Aranya, located in Noida Sector-119, regarding financial irregularities and funds diversion by it, the de-registration order was served based upon the information collected, inspections made of the site, complaints registered with UP-RERA and non-compliance of the provisions of the RERA Act. The order de-registered Aranya phases 3, 4 and 5 under section 7 of the RERA Act on the project which is valued over Rs.1500 crore. This step is serving as a warning to other builders as well. ...

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Non- execution of RERA orders puts homebuyers in stress

Thursday 23rd May 2019

Another RERA battle awaits homebuyers due to non-execution of RERA orders passed. Several RERA orders passed which favored homebuyers have not been executed. The wait continues for them even after 3 years of RERA. Although provisions are there for non-execution of orders passed which states that the District Magistrate shall recover the dues as arrears of land revenue. The money so recovered is deposited in RERA Account and from there it is transferred to the beneficiaries of the RERA Order.   ...

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16 Real estate projects registered under RERA in Delhi, 72 complaints received against the builders

Wednesday 22nd May 2019

 According to reliable sources, only 16 Real estate projects have been registered under RERA in the National Capital and against which 72 complaints have been received against the builders. Out of 72 complaints, the authority has resolved 24 complaints till last week. Such shocking data has been observed in the capital of the country. ...

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Industry demanding separate RERA Bench in Indore

Tuesday 21st May 2019

To aid early resolutions for stuck projects some industry experts and realtors are demanding a permanent bench of RERA for Indore so that speedy redressal of disputes becomes possible as there is only one RERA team visiting Indore thrice a month for the hearings. An anonymous member of CREDAI, also complaining that RERA is only penalizing builders, it should extend its scope to help builders in getting funds so that early completion of projects is possible. ...

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Finally, Kerala to have Real Estate Regulatory Authority

Monday 20th May 2019

Despite the RERA Act, 2016 imposed by the parliament in May 2016, Kerala is among the few states in the country which has not established the RERA Authority and Appellate Tribunal under the Act. According to the sources it is likely to notify the RERA Authority soon after the declaration of election results.  Although in 2018, it had set up an interim authority the system has remained more or less dysfunctional with no registrations or complaints received. ...

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Work being at standstill in Highland Park, buyers go to RERA (20/5/19)

Monday 20th May 2019

Even though the buyers had paid 90% of the amount, the construction is only 45-50% complete in Ansal Highland Park project in Sector 103 of Gurugram. The construction work has not seen any progress in the last six months as a consequence of which more than 600 homebuyers are bearing financial difficulties of paying high rent, EMI on housing loan and legal fees battle against the developer. To save their hard earned money the homebuyers association filed a case in HRERA, Gurugram. ...

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TNRERA having jurisdiction over exempted structurally completed projects

Friday 17th May 2019

After receiving many complaints regarding fake structurally completed projects near Chennai that were previously exempted from TNRERA due to section 2h(iii) of the rules which covered the areas under the Directorate of Town and Country Planning (DTCP), an order has clearly given the right to the authority to take complaints and issue notices to developers even for structurally completed projects that are still delaying the delivery of the apartments. They misused the section to not register with the TNRERA. ...

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MAHARERA orders developers to adhere to realistic deadlines

Friday 17th May 2019

After many cases observed where the developers were tending to push ahead of the deadlines of possession date in order to avoid penal proceedings, MAHARERA passed an order instructing the developers to set feasible and realistic deadlines depending on the work and timeline. It has clearly mentioned that the developers won’t be able to change possession dates without putting up a notice on the MAHARERA Website unless there is some national calamity or pressing situation. ...

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UP-RERA directs the local authorities to even register those projects which are outside the planning area

Wednesday 15th May 2019

Due to 1000 complaints received with respect to projects and promoters outside the planning area, the UP-RERA has directed the local authorities to start the registration of the projects. Using the power of Section 3 of the RERA Act it can direct any promoter to register a project which is even outside the planning area in order to protect the interests of the buyers. It has clarified that a project can be registered in RERA only if the layout of the plan has been approved by the concerned local authority. ...

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No. of complaints have dropped by 40% in Madhya Pradesh RERA, indicating a good sign

Tuesday 14th May 2019

Amongst the three RERA centers in the state, Indore gets highest no. of complaints from customers, followed by Gwalior and Jabalpur. In the past two months, Indore has shown good signs where cases have dropped significantly from over 100 to just 60 per hearing. As they are getting resolved gradually, new complaints are very few indicating increased compliance resulting in fewer grievances from the customers. ...

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MAHARERA has wide jurisdiction over all the projects

Monday 13th May 2019

The jurisdiction of the MAHARERA Authority is not lost just because of the receipt of the Occupancy Certificate or on completion of the project or when the possession is offered. The RERA provisions are applicable to agreements executed even before its effectiveness and also the authority can adjudicate despite an arbitration clause in the agreement. The ruling came when MAHARERA ruled in the favour of the homebuyer directing the developer L&T Ltd. to pay Simple Interest at 10.75% on Rs.4.69 crore from October 1, 2017, for delayed possession. ...

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UP-RERA plans to resolve the story of Abandoned Projects

Friday 10th May 2019

UP-RERA has estimated that there could be 100 abandoned projects which have been left midway by the builders and have exceeded their completion date. It will soon work out to adopt them and resolve their fates. Also, around 300 projects have dodged UP-RERA registration which will soon get notices for the Imposition of Fine @10% of the project cost ...

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Fire norms not being followed by the developers in Telangana

Friday 10th May 2019

To ensure Security for the Registered Housing Projects, RERA has notified Fire Safety Norms which needs to be followed by the developers. As per the rules, building taller than 15 meters should obtain a No Objection Certificate (NOC) from the fire department whereas those below 15 meters should obtain NOC from the Greater Hyderabad Municipal Corporation. Most of the projects which are registered with Telangana RERA have not obtained NOC’s from the fire department. ...

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Upsurge in complaints by buyers, RERA opens 3rd bench in Noida

Wednesday 24th April 2019

Brimming with an unprecedented number of complaints by homebuyers, Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) opened its 3rd bench in Greater Noida to hear those complaints. According to UP-RERA members, nearly 25 complaints are registered on a regular basis along with an approximate hearing of about 100-150 cases regularly.  As the complaint portal was brimming with complaints, the authority couldn’t sustain on two benches, as a result it opened the third bench for efficiency and effectiveness. ...

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UP-RERA devises a committee to oversee the Intellicity Business Park

Tuesday 23rd April 2019

A committee has been devised by UP-RERA to superintend funds and construction activity in Intellicity Business Park situated in Greater Noida. R.D. Paliwal, UP-RERA conciliator has been appointed as the chairman of the committee. Promoters of the company i.e. Manoj Kumar Choudhary, Anil Ram Sutar, Vikas Bhagat and six home buyers will also be part of the committee. ...

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Penalty of Rs 3,00,000 levied by TSRERA on ongoing builder projects

Thursday 18th April 2019

As per the TSRERA rules, projects which are approved on or after 01-01-2017 by the competent authorities are to be registered with TSRERA. The deadline to register the projects without penalty was 31.08.2018. TSRERA has one more time extended the date for accepting the application for registration of ongoing projects to 30 april 2019 with a penalty of Rs 3,00,000. If the builder does not agree to pay the penalty his application shall be processed as per the provisions of Section 5(1)(b) of the Real Estate Regulation and Development act 2016. ...

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Scheduled Banks notified by UP-RERA to strictly comply with RERA Act

Thursday 11th April 2019

With the main aim to circumspect the separate accounts of developers and promoters, Uttar Pradesh Real Estate Regulatory Authority (UP- RERA) has issued notices to zonal heads of 42 Scheduled Bank along with the Director General, UP Directorate of Institutional Finance asking them to strictly comply with RERA Act. ...

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RERA penalizes 300 developers in Gujarat

Wednesday 10th April 2019

As a repercussion of failing to file the mandatory quarterly progress reports over the last nine months, more than 300 promoters and developers have been fined by Gujarat Real Estate Regulatory Authority (GujRERA) across Gujarat. A fine of ₹50,000 has been levied by the authority on almost all the developers for non compliance with the Authority’s orders. ...

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Supertech got issued by H-RERA for selling projects without permission

Wednesday 20th March 2019

Troubled developer Supertech initiated the sales for four registered projects without due permission from the authority. As a repercussion, it has been issued a showcause notice by Haryana Real Estate Regulatory Authority( H-RERA). The developer is directed to respond to the notice within a week by the authority. Under sections 15(1) and 61 of the Real Estate (Regulation and Development) Act, 2016, a developer has to seek permission from the authority before it can start selling a project. ...

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Experts postulate: RERA yet to fix malpractices in real estate sector

Wednesday 13th March 2019

Real Estate Regulatory Authority (RERA), implemented with the ostensible purpose to bring about transparency in the real estate sector, is yet to consummate its goal. The body lacks adequate amount of bandwidth required to look over the details of over 19,000 registrations that were granted by the body in the state uptil now. The adjudicating officers themselves have powers to look at only certain sections of the act, while the main powers are bestowed only upon the members. ...

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Karnataka RERA’s new chairman- MR Kamble

Wednesday 6th March 2019

The vacant place of the chairman of Karnataka Real Estate Regulatory Authority (K-RERA) has been filled as MR Kamble, a retired IAS officer, has recently been appointed as the new chairman of K-RERA. K-RERA embodied a three member team who appointed the new chairman of the Real Estate Authority apart from setting up a tribunal with the high court judge as a part of it. ...

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6 IAS officers in 19 months: recurrent switches results in RERA-Karnataka ineffective

Tuesday 5th March 2019

With the purpose of aiding the homebuyers and making the real estate sector more transparent, RERA laid its foundation in the state of Karnataka almost an year ago. Such a purpose has received a setback due to frequent transfers of officers rendering the authority toothless. The institution also lacks the mandatory authority comprising a chairman and two members. ...

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Only 5% Real Estate Agents registered under RERA in Punjab

Tuesday 5th March 2019

Its been more than almost 1.5 years that RERA laid its foundation in the state of Punjab but only 5% of the real estate agents of the state have registered themselves with the authority. With the state having more than 30,000, only a minute section of 1,461 agents have been registered. However, RERA Act mandates all property agents to register themselves with the authority. Therefore, RERA-Punjab is all set to send notices to all the unregistered agents. ...

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Skyline Construction to refund money for late possession, orders MahaRERA

Saturday 2nd March 2019

The developer Skyline Construction Co, part of the RNA Group has been directed by Maharashtra Real Estate Regulatory Authority (MahaRERA) to not only refund a sum of Rs. 1.06 crores but also 10.55 per cent interest and stamp duty of Rs 6.65 lakh to a renowned bollywood face, Vrajesh Hirjee for delayed possession of a flat in the RNA Exotica project in Goregaon. ...

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GST On Under-Construction Flats Slashed Down To 5% And Affordable Housing To 1%

Monday 25th February 2019

The GST Council has slashed down the tax rates for under-construction flats to 5 per cent and affordable homes to 1 per cent with the main aim of augmenting the demand in the real estate sector. The amendment will come into effect from April 1. At present, the goods and services tax (GST) is levied at 12 per cent with input tax credit (ITC) on payments made for under-construction property or ready-to-move-in flats where completion certificate is not issued at the time of sale and for affordable housing units, the existing tax rate is 8 per cent. ...

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More than 1000 developers keep ignoring Karnataka RERA notices

Sunday 17th February 2019

More than 1000 real estate projects in Karnataka have not been registered up till now despite frequent notices being sent to the builders by the authority. The promoters/developers have turned a blind eye to all the notices by RERA. ...

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West Bengal’s Hira challenged by homebuyers in SC

Tuesday 12th February 2019

A group of home-buyers filed a petition in Supreme Court Of India challenging the constitutional validity of West Bengal Housing & Industrial Regulation Act 2017 (HIRA). SC has asked the state to file its reply within a fortnight. By bringing in its own Real Estate act- HIRA, West Bengal is the only state that has not implemented the Real Estate Regulation Act (RERA).   ...

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51 builders received notices by BiharRERA

Saturday 9th February 2019

51 builders in Bihar have received show-case notices by Bihar Real Estate Regulatory Authority (RERA)for advertising, promoting and selling their ongoing projects without registering them with the authority. The notices have been issued under Section 3 of the Real Estate (Regulation & Development) Act 2016 for violating the provisions. The authority has also decided to levy Rs. 10 lakh of penalty along with the project registration fee.   ...

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After more than an year’s delay, Tamil Nadu RERA Chief appointed

Saturday 9th February 2019

After an exorbitant delay, K Gnanadesikan has been appointed as the chairperson of Tamil Nadu Real Estate Regulartory Authority(TNRERA). Gnanadesikan will oversee all the affairs after taking over S Krishnan, secretary of the housing and urban development department, who was also serving as the interim chairperson of the regulatory body. ...

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RERA Rajasthan appellate tribunal still just on papers

Wednesday 6th February 2019

After almost 01 year and 10 months of RERA enactment, RERA Rajasthan has not started hearing cases from the buyers. A senior official at RERA said, “Since May, no case was heard at RERA. Rajasthan government had earlier appointed additional chief secretary (ACS) of urban development and housing (UDH) department as the head the RERA. But as per the act, it is mandatory that after one-year complaints can only be heard after constituting full-fledged authority and appellate tribunal,” he said. However, in absence of appellate tribunal, there is still a long way for consumers and no sigh of relief. ...

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TSRERA gives builders one more extension to register in RERA

Monday 4th February 2019

  In an order dated 31 January 2019, The TSRERA has yet again extended the deadline for accepting an application for ongoing project registration till 15 February 2019 with a penalty of Rs 2,0,000.As per the Telangana state Real estate (Regulation and development act ) 2017 the projects which are approved on or after 01-01-2017 by the competent authorities till 31 August 2018 are required to register with TSRERA as an ongoing project. As per Section 3(1), it is mandatory for real estate projects to register with RERA before sale or marketing of the project.   ...

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Structural engineer under the radar of TNRERA for flawed documents

Friday 25th January 2019

In a recent complaint against Pacifica Aurum Villas project promoted by Sylvanus Builders and Developers Ltd in Pudupakkam on Vandalur-Kelambakkam Road, TN RERA  directed DTCP to conduct further investigation and it was concluded that project was incomplete and seven villas were not developed. Moreover, construction for the 120 EWS units was yet to resume, contradicting the certificate issued by the structural engineer,” a TNRERA official said. The structural engineer for the project had certified that the project, with 378 villas and 120 units in the Economically Weaker Sections (EWS) block, had been completed as per the approved plan. TNRERA demands stringent action against the engineer. ...

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4691 projects enrolled with GUJRERA since May 2017

Thursday 24th January 2019

According to RERA chairman Amarjit Singh, a total of 4691 projects have been approved since RERA implementation in Gujarat. These projects make up 85% of total projects that have applied.“In India, 34,000 projects have been approved by various state RERA authorities and Gujarat contributes a large number to this list of approved projects. In the last few months we have streamlined the approval process and typically we are able to give the developer the go-ahead within 30 days,” said Singh.   ...

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Builders in Karnataka sell unfinished houses as completed projects

Thursday 17th January 2019

Several property developers have allegedly cheated homebuyers right under the nose of the (RERA) Karnataka, taking advantage of the system lacks a provision to verify claims on completion of projects. As per the rule, developers have to specify the date of completion when they register the project with RERA and need to update its status on the authority’s portal on or before the declared date. According to 191 claimed projects, only 40% of the work has done.     ...

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UPRERA orders forensic audit on Concept Horizon after buyers complaint.

Thursday 17th January 2019

UP-Rera ordered a forensic audit of Concept Horizon Infra Pvt Ltd, a builder who has failed to deliver a mixed-use project, Orizzonte, located in Knowledge Park 3.The Builder responses explaining why it failed to pay assured returns to the buyers.UP-RERA asked Currie & Brown, to conduct an audit on where the investments of the buyers went as the builder seems to be in no position to complete the project.   ...

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Goa government urges MahaRERA to hear cases

Tuesday 15th January 2019

Maharashtra government registered 20 complaints with the Goa Tribunal two months back, the Goa government has requested the Maharashtra Real Estate Regulatory Authority (MahaRERA) to hear cases on behalf of GoaRERA. Maharera has received 19,202 applications for new registration of projects, while 651 cases are registered with the appellate tribunal. Of these, 184 cases are being heard and orders have been issued in 177 cases. Maharera considers Goa’s request. But the Maharashtra government has to take the final decision. ...

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Karnataka property market shows signs of revival after GST, RERA

Tuesday 15th January 2019

The Real Estate Market in Karnataka is seeing a revival hard knock to ban high-value currency notes followed by GST And RERA. The Department of stamps and registration recorded nearly a 20% increase in revenue 2017-18.6,000 cr. Rupees collected and 10 lakh properties registered till December. The Market Has Moved out of the shadow of these Three ERA. After RERA the home buyers renewed optimism is steadily growing.   ...

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TSRERA to put a penalty of Rs 1,00,000 on defaulters

Wednesday 19th December 2018

In a circular dated 15 Dec 2018, Telangana State RERA slaps the builders with Penalty of Rs 1,00,000. The penalty will be applicable for registration of ongoing projects, for which permission was taken from the competent authorities (civic body/municipality/UDAs etc) between January 1, 2017, and August 31, 2018, but were not registered by December 15, 2018. The date has been extended till 31st December 2018 for builders with a penalty of Rs 1,00,000. ...

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Telangana RERA to penalize builders with Rs 50,000 failing to register with RERA

Saturday 1st December 2018

In a circular dated 29.11.2018 RERA Telangana has decided to levy a penalty of Rs 50,000 for registration of ongoing project.TSRERA has decided to keep the process of registration of ongoing projects open till 07 December 2018 for which permission has been taken between 01-01-2017 to 31-08-2018 from the competent authorities.It also stated that it would not be appropriate to reject applications after the last date of November 30, TS RERA said after the application is filed by a promoter from December 1 to 7, RERA would communicate the same through a notice or email asking them to pay the online penalty for registration. ...

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GIS mapping of 9000 RERA registered units complete

Saturday 24th November 2018

  Under MAHARERA, 9000 RERA Registered units have been mapped with Geographical Information System(GIS) in MAHARERA. Rest of the projects will be mapped within two months.MAHARERA Secretary said Vasant Prabhu said “With GIS mapping giving a clear picture, the buyers cannot fool the homebuyers as latter will be assured of a transparent system. We have completed mapping of 9000 projects registered with us. We will complete mapping of the rest projects within two more months.”    ...

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Finally, Delhi gets its permanent RERA Regulator

Thursday 15th November 2018

Lt Governor Anil Baijal appointing retired IAS officer Vijay S Madan to the post of RERA Regulator. Till now, DDA chairman was appointed as an interim regulator. In a workshop organized by Housing and Urban Ministry, Baijal said “ I am glad to inform the ministry and the minister that yesterday we have appointed a whole time regulator”.Gyan Prakash Srivastava and Ramesh Chandra have been appointed as members of the regulatory authority.     ...

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TNRERA said Regularised layout to come under RERA

Friday 9th November 2018

TNRERA claimed that unauthorized layouts regularised under the regularisation of unapproved plot scheme will come under the purview of RERA. In a communication to the commissioner of town and country planning, TNRERA interim chairperson said all the layouts regularised by the former's department must be registered with the real estate regulator. "Hence, while approving the layouts under the layouts under the regularisation scheme, one clause advising the layout promoters to submit an application for registration with TNRERA to be added," the letter said. ...

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No relief for buyers in Rajasthan

Thursday 1st November 2018

After one year of RERA in India, there is no appellate tribunal in Rajasthan to hear the grievances of the buyers. According to an official, as the constitution of RERA, authority and appellate tribunal is under process and will start post-January only. The aggrieved buyers can register their complaints along with relevant documents at RERA.On the basis of the complaint, notices would be issued to the respondent. If no reply is filed, RERA can take immediate action. However, in a scenario where the reply is filed, both the parties will have to wait for a hearing date said a RERA official. ...

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GOARERA to take up old cases

Wednesday 31st October 2018

In a recent meeting of GOARERA, the committee decided to take up long pending cases against developers. Lorna Fernandes, a representative of consumer action network GOACAN said consumers under the old system are likely to raise their long-pending grievances. “There are a lot of people who have suffered in the past have cases pending consumer courts and before conciliation committee”. she said.Official agreed and Desh Prabhu Desai,president of the Confederation of Real Estate Developers  Association of India,said small taluka committees could be formed to sort out the old pending cases.  ...

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Project Registration fees to be slashed in Maharashtra

Monday 22nd October 2018

The Maharashtra state Govt is planning to slash project registration from Rs 50,000 to Rs 10,000 as per the sources. Presently,the promoters are required to pay the registration fee along with the application for registration. While the fee is calculated on the basis of the area proposed to be developed at a rate of Rs 10 per square meter, existing rules state that a minimum of Rs 50,000 must be paid regardless of the plot size, while the maximum registration fee is Rs 10 lakh. The dilution will benefit construction projects being planned on small and medium-sized plots, said officials. “Developments of plots less than 5,000 sqm will benefit,” an official said. ...

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Greater Noida RERA bench to use 200 order next week.

Monday 15th October 2018

The Greater Noida RERA bench will issue 200 orders next week out of total 490 complaints that have been listened since September. According to officials, the Greater Noida bench of UP-RERA has heard complaints mostly against eight builders in the past two months. “The members of the bench met Greater Noida and Noida Authority officials on Friday and discussed issues related to all those builders who are facing RERA complaints. The discussion was mainly about how to mitigate issues and what can be done to speed up delivery of flats,” said Singh.   According to officials, the Greater Noida bench of UP-RERA has heard complaints mostly against eight builders in the past two months. “The members of the bench met Greater Noida and Noida Authority officials on Friday and discussed issues related to all those builders who are facing RERA complaints. The discussion was mainly about how to mitigate issues and what can be done to speed up delivery of flats,” said Singh. ...

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Haryana RERA sent notices to 52 builders

Saturday 6th October 2018

The real estate regulatory authority of Haryana has sent notices to 52 developers on 1150 complaints received from Gurgaon end users. The complaints are related to delay in possession only. “The end-user is suffering because they are paying both EMIs and rent. These people have invested their life’s savings in these projects because they want a house of their own. However, their homes are not being delivered to them for years. In many projects, there is no clarity on when the projects will get ready,” said an official.HRERA will be taking stringent action against the builders. ...

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Telangana falls behind in RERA implementation

Friday 24th August 2018

Telangana seems to lag behind other states like Maharashtra, Uttar Pradesh, Gujarat and Karnataka in RERA adoption. Though the state notified the rules a year back, still the RERA portal is not operational yet. According to the Municipal Administration and Urban Development department principal secretary, Arvind Kumar RERA website will be functional from 01 September 2018. Trial runs of the same are being carried out by the authority.     ...

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RERA Bihar freeze the bank account of the builder

Monday 20th August 2018

In recent order by RERA Bihar, authority puts on hold the bank account of a Patna Based developer for giving false replies to show cause notice issued the builder. The show cause notice was issued for non-registration of ongoing project. The builder is further banned from taking the booking of any plot or apartment in the project at Shivala Mor on Dinapur Bihta Road.RERA Bihar chairman Afzal Amanullah have taken this stringent action on the basis of Section 36 of RERA act.     ...

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Maharashtra RERA – Consumers can file complaints against unregistered projects

Monday 13th August 2018

Following the verdict by Bombay High Court on July 31, MahaRERA will entertain the complaints filed by the consumers against unregistered real estate projects. According to the sources, consumers can take the benefit of this facility from August 16 after paying a fee of Rs. 5,000. According to section 3 of the Real Estate (Regulation & Development) Act, the authority is bound to hear the plea of aggrieved consumers against a realty project whether it is RERA registered or not. While talking to reporters, MahaRERA secretary Vasant Prabhu said, “We have already uploaded a form under the source information category and would enable the payment facility for those desiring a hearing for their complaints from August 16”. Also Read - RERA can adjudicate disputes related to past projects ...

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Long term leases come under the radar of RERA

Friday 10th August 2018

In a recent judgment, Bombay high court dismissed three appeals filed by Lavasa Corporation against orders passed by Maharashtra real estate appellate tribunal which has entertained the complaints by three persons who had booked apartments developed by Lavasa Corporation through 'agreements to lease'. As per the tribunal, the complaints can be heard by MahaRERA under section 18 of the Maharashtra Real Estate (Regulation & Development) Act wherein the rules direct the builders to provide interest for delay in giving possession in terms of ‘agreement for sale’. During the hearing, counsel Raj Patel and Kaustav Talukdar who were defending Lavasa asked “ Is the provisions of RERA apply in case of 'agreement to lease', whereas the definition of 'promotor' under RERA  includes 'lessor', and is the remedy provided under section 18 can be against a lessor too?” Also Read - Local authorities to submit the report on unregistered projects to MAHARERA Replying to this the High Court said that “Lavasa got itself registered under RERA necessitates an inference that it was aware that the project was "for sale of apartments constructed'' and hence "it was bound by RERA provisions.”It also said that “The 999-year lease is equal to the sale.” ...

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UP RERA got its Permanent Chairman

Monday 6th August 2018

A notification was published by the Uttar Pradesh government on Saturday regarding the appointment of UP RERA Chairman. Taking a step forward to ease the working of Uttar Pradesh Real Estate Regulatory Authority (UP RERA) the state government has appointed Rajive Kumar, former chief secretary as the permanent Chairman of UP RERA replacing Nitin Ramesh Gokarn, principal secretary – housing who was appointed as the interim Chairman.  Along with appointing the permanent Chairman of RERA, the state government also appointed Bhanu Pratap Singh, Balvinder Kumar and Kalpana Mishra as members of RERA UP. Also read – How much has RERA assisted home buyers in last one year?     ...

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Still no sign of RERA in West Bengal

Friday 3rd August 2018

Even though most of the states have implemented rules for the Real Estate (Regulation & Development) Act aka RERA, the West Bengal government seems in no mood to implement this realty rules which is aimed to streamline the real estate sector. According to the sources, a home buyer association has recently appealed West Bengal CM Mamata Banerjee to revoke the West Bengal Housing Industry Regulation Act (WBHIRA) and implement the undiluted Real Estate (Regulation & Development) Act that was passed by the Central government in 2016. Also Read - Central team to persuade Bengal to switch back to RERA ...

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RERA Telangana website to go live soon

Thursday 2nd August 2018

Aiming to save the interests of home buyers in the state, the website for RERA Telangana is will become operational from 1st September 2018, confirmed, Arvind Kumar, MA&UD principal secretary. According to his latest statement, “While the RERA office is being readied at AC Guards, trial runs of the portal are being run for past few weeks. The port al will become operational from September 1", home buyers in Telangana can get assured of not being fooled by errant developers. To develop and maintain the website, Telangana government is taking help of Mahaonline Ltd which is a joint venture of the government of Maharashtra and Tata Consultancy Services, he added. Contact us today for a free consultation on RERA registration of projects and agents in Telangana. ...

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State Governments responsible to maintain RERA website – Central Government

Wednesday 1st August 2018

Replying to a query in Lok Sabha over maintaining information related to real estate projects in any States or Union Territories, Minister of State for Housing and Urban Affairs, Hardeep Singh Puri said, “The Ministry does not maintain information about various housing projects of any state or UT. As per provisions of the Real Estate (Regulation and Development) Act, 2016 (RERA), the concerned state is required to publish and maintain a website of records for public viewing of relevant details." RERA was implemented by the Indian government in 2016 to streamline the way of doing business in the real estate sector. According to the RERA rules, developers should register their real estate projects with the Real Estate Regulatory Authority of the state where the project is being developed whereas the RERA rules direct real estate agents to register themselves in order to carry out any business in the said sector. Click Here to check your RERA related knowledge. ...

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RERA Bihar issued notices to builders for not complying with the realty rules

Tuesday 31st July 2018

The Bihar Real Estate Regulatory Authority has sent notices to 16 errant realty developers for not complying with Section 3 of the Real Estate (Regulation & Development) Act 2016. According to Rajiva Bhushan Sinha, Member, Bihar RERA, the authority has issued notices to real estate developers advertising their ongoing projects, entering into an agreement with customers, accepting advance money from them and completing the projects hastily without registering them with the RERA. Also Read - RERA Bihar – Builders must display project details at the construction sites This is a violation of section 3 of the RERA rules thus the authority has asked the defaulting builders to register their projects with RERA with a late fee of Rs 4 lakh or 400% of the registration fee, whichever is higher before July 31, 2018, he added. Click here to register your projects with Bihar RERA. ...

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Telangana RERA to be in place within a fortnight

Monday 30th July 2018

Telangana government is all set to implement the rules for Real Estate (Regulation & Development) Act in the state. The construction work for setting the office for the Telangana Real Estate Regulatory Authority at AC Guards in Hyderabad is nearing completion. According to the sources, the government will appoint senior officials and realty experts as permanent regulatory authority and RERA members respectively before implementing full-fledged RERA rules. As of now the Revenue Department has developed a beta version of Telangana RERA website and will soon launch the operational one which will ease the process of RERA registration of projects & agents and filing online complaints Click here to read interesting RERA related blogs. ...

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RERA Haryana-Strict action against defaulting builders

Saturday 28th July 2018

Haryana Real Estate Regulatory Authority has warned the builders of strict actions if they fail to fulfill the promise made to home buyers. While addressing an interactive session with the members of industry body PHDCCI, Haryana RERA chairman, K K Khandelwal said that the builders can stay away from the RERA defaulters’ list only when they fulfill all the promises made to the buyers in their brochures. Appreciating the introduction of RERA, PHDCCI President Anil Khaitan said that this reform will change the face of realty sector and the real estate market will reach record breaking heights in the nearest future.  Click here to get your projects registered with RERA today. ...

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RERA Bihar – Builders must display project details at the construction sites

Friday 27th July 2018

  The Bihar Real Estate Regulatory has uploaded a notice on the official website of Bihar RERA directing all the real estate builders to display certain details related to the project at the site of construction. According to the notice, the promoters/developers/builders of all real estate projects be it residential, commercial, mixed or plotted development, shall display name of the project name of the promoter/developer/builder of the project, RERA registration number or the application number through which application for registration has been submitted to the authority (if RERA registration is not yet done), website address of RERA Bihar, names of the registered real estate agent along with their RERA registration number ( company or individuals), the date of commencement of the project and proposed date of completion of the project, prominently at the sites of construction of the Project  on a large notice board/hoarding having minimum size of 6 by 6 feet. The notice further states that the information should also be displayed at the corporate office, registered office, branch or sales offices of the promoters/developers/builders appropriately and prominently in respect of all real estate projects undertaken by them. Click here to know how to register your real estate project with RERA Bihar.   ...

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RERA can adjudicate disputes related to past projects

Thursday 26th July 2018

Clarifying the doubt over the purview of RERA, KK Khandelwal, Chairman of Haryana RERA’s Gurugram bench said that irrespective of the date of completion and issuance of completion certificate before 1st May 2017, the Real Estate (Regulation & Development) Act applies to all realty projects. In other words, an aggrieved real estate buyer can approach Haryana RERA with complaints related to old projects too. Earlier, developers of projects which have got completion certificate before 1st May 2017 were given clean chit by the regulatory authority as the rules mentioned that such projects will not come under the radar of RERA. Also Read - RERA Bihar - No registration of on-going projects without RERA number ...

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RERA Bihar - No registration of on-going projects without RERA number

Tuesday 24th July 2018

In order to prohibit builders to pass on the ownership to the buyers by registering the incomplete projects with the registration department, Bihar Real Estate Regulatory Authority (RERA) has asked the state registration department not to register any ongoing projects without RERA registration number. According to Afzal Amanullah, Bihar RERA Chairman “The registration of incomplete flats or apartments put the real estate buyers in a very disadvantaged position as the developers refuse to complete their obligations once the registration was done. Therefore, we have requested the registration department not to register incomplete projects and the projects which don’t have RERA number.” July 31st, 2018 is the last date to register ongoing projects with RERA Bihar with a late fee of Rs. 4 lakh or 400% of the registration fee, whichever is higher. Click here to get free assistance on registering real estate projects with RERA in Bihar. ...

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Karnataka government to blacklist projects not registered with RERA

Monday 23rd July 2018

Karnataka Urban development and housing department have issued notices to the developers of real estate projects which are not registered with Karnataka Real Estate Regulatory Authority (RERA).  According to Karnataka Urban development and housing minister U T Khader, the government is planning to blacklist the projects of those developers who have not given satisfactory reply for the notice issued to them. RERA has received a total of 572 complaints against realtors for violating RERA rules, of which 221 are disposed of, he added. Contact us today to comply with RERA Karnataka rules. ...

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Now file and track RERA Complaints online

Friday 20th July 2018

From 1st August, aggrieved real estate buyers can file and track the status of their complaints with Maharashtra Real Estate Regulatory Authority (MahaRERA) right on its official website. The decision to digitize RERA complaint filing and tracking was taken after several meetings between RERA authority and relevant stakeholders. Furthermore, complainants are not required to submit the hard copies of the documents required for filing complaints. Instead, they can upload the same on the website itself. Also, the 60-day time frame of redressal of the complaint will commence the moment a complainant registers the complaint on the website and uploads the required documents.  According to MahaRERA secretary Vasant Prabhu, the complaints against unregistered projects can also be filed and tracked by visiting MahaRERA website after verifying complainant’s mobile number. Also, the notices will now be sent to the builders’ mobile number registered with MahaRERA. These changes are carried out to inline the standard operating procedure for handling complaints and to simplify the process for both complainants and realtors. ...

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RERA Goa issues show cause to two builders

Wednesday 18th July 2018

The real estate regulatory body of Goa has issued show cause notice to two developers for promoting their project without RERA Registration number. The action has been taken on a complaint filed by Kashinath shetye against the builder. The notice stated that “if no reply is received within the stipulated time or reply given is not satisfactory action as deemed fit as per the provisions of the act will be initiated against you.” ...

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India’s first title insurance policies launched by HDmabFC ERGO

Wednesday 11th July 2018

HDFC ERGO launched its first ever title insurance policies on Tuesday making them India’s first Title Insurance Policies. Title insurance refers to insurance for the title of a real estate property and is mandatory according to the Real Estate (Regulation and Development) Act 2016, or RERA. This specialty insurance product provides indemnity to property developers and the subsequent owners of the property against losses and risks related to defects in property title arising out of third party challenges not discovered before the commencement date of the policy. ...

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T. Mithra appointed as the interim realty regulator by state govt.

Tuesday 10th July 2018

T mithra, who is now the additional secretary of the department, has been appointed as the new interim authority by the local self government (LGG) department. The move gives clear hints that the state may have to wait to get a fullfledged regulatory authority. Kerala is one of the eight states in the country that has failed to notify the real estate regulation rules on time and establish a web portal and the decision to have an interim body was in the wake of increase in complaints and litigations in the absence of a regulatory authority. ...

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Property portals must be brought under MahaRERA: Consumer body urged

Friday 6th July 2018

Mumbai Grahak Panchayat (MGP), a city based consumer body urged MahaRERA to bring property portals under its purview that’ll add to further increase in transparency and accountability in the real estate sector. In a letter to MahaRera chief Gautam Chatterjee, MGP said, "Real estate web portal companies operating in Maharashtra have to be treated as 'real estate agent' under Rera." It has also sought registration of such portals under MahaRera in the next 60 days. ...

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GDA gets a notice: Fails to update projects on RERA Website

Thursday 5th July 2018

Ghaziabad Development Authority(GDA) got a notice from UP Real Estate Regulatory Authority since it has failed to update projects on RERA website. The notice has asked GDA to complete the task of updating the projects by 6 July,2018. Crossing the given limit, GDA will be liable to harsh penalties. According to RERA rules, all development agencies and private builders are required to update their projects under RERA. But the GDA has failed to update the projects since May this year. ...

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Mapping of 4500 projects with GIS Technology by MahaRERA

Thursday 5th July 2018

To empower citizens and aid them futher, Maharashtra Real Estate Regulatory Authority (MahaRERA) mapped 4500 projects out of a total of 16000 registered projects with Geographical Information System (GIS). This will enable the citizens to find minute details of homes of their choice just by selecting the option “view on map” on its website. ...

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Telangana portal to go live on 01 August 2018

Thursday 5th July 2018

After a wait of almost 1 year, Telangana will finally launch its web portal for registration on 01 August 2018. The web portal will be developed and maintained by Mahaonline Ltd, a JV between Maharashtra government and TCS. The trial run has already begun for the Rera web portal and it will become functional on August 1,” MA&UD principal secretary Arvind Kumar said. Officials said Mahaonline will maintain the Telangana Rera website for three years and upgrade it as and when required. For real estate projects or development projects, the developers have to pay Rs 750 and real estate agents Rs 500 towards one-time registration charges apart from other fees. The amount will directly go to Mahaonline for maintenance of the website,” MA&UD officials said. ...

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Local authorities to submit the report on unregistered projects to MAHARERA

Thursday 5th July 2018

The Real Estate Regulator of Maharashtra has issued the letters to the state local authorities to do surveys on real estate projects not enrolled with the MAHARERA. This step ensures maximum registration of real estate projects operating in states.“We have written to almost all local authorities, directing them to conduct a survey of all realty projects in their areas. While the local authorities can take action against unauthorized projects, they will have to refer legal but unregistered projects to us. We had issued the letters last month and are yet to receive the details from them,” stated MahaRERA secretary Vasant Prabhu. ...

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Builders in Karnataka can opt for land title insurance, Soon

Monday 25th June 2018

Property prices in Karnataka are set to go up with land title insurance, which is mandatory under the Real Estate Regulatory Authority (RERA), becoming a reality soon. Land title insurance is an insurance product that provides safety to builders and against any loss from defects in property title. Though RERA makes it compulsory for developers to get title insurance for all new and current projects, the state unit has not been able to implement the clause till now due to lack of insurance players in the market providing such a cover. But now, with a few products making headway, land title insurance will soon become a reality. ...

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76 projects are RERA Registered in Coimbatore

Monday 25th June 2018

The Real Estate Regulatory authority has received a total of 92 applications from the district Coimbatore out of which 76 has been approved by TNRERA. Selvakumar said TNRERA had been sending notices to the realtors, who had not approached the regulatory body for approval. “We have so far sent 1,400 show cause notices to realtors across the state. Many of them have replied saying the projects were for their personal use and not for sale. In such cases, we will publish the details of the projects in our website stating the property is not for sale, with a warning that if people buy the property, it would be at their own risk,” he added.  ...

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No finance in Karnataka for unregistered projects

Friday 22nd June 2018

In order to ensure developers don't sell projects without registration in RERA, state govt has put restrictions on sources of funding for projects until the project is registered in RERA. Interim regulator Kapil Mohan recalls many instances where unregistered developers come “sheepishly to register, once the funding stops.” Today, selling an unregistered property in Karnataka is an illegal act. “If such a transaction comes to the notice of the regulator and it is proved by secondary evidence that such a sale transaction has taken place, then penalties will be levied,” Mohan stated. ...

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MahaRERA sanctions the right to decide pre-act cases

Wednesday 20th June 2018

Maharashtra Real Estate Regulatory Authority (MahaRERA) gave a ruling that the authority can still adjudicate complaints even if it happened before RERA came into force. “Though the said cancellations were executed prior to the said Act (RERA) came into force, this authority is of the view that with monies paid by the complainants still lying with the respondent (developer), this authority has jurisdiction to adjudicate the complaints,” stated Gautam Chatterjee, chairperson of MahaRERA. ...

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Tamil Nadu RERA hikes fee for filing complaints

Wednesday 20th June 2018

The fee for filing complaints with the Tamil  Nadu Real Estate Regulatory Authority (TNRERA) has been hiked. According to a circular on Tuesday, Rs 1,600 should be paid for filing complaints with the authority under Section 31 of the Real Estate (Regulation and Development) Act, 2016 wherein Rs. 1000 is the actual fee and Rs. 600 is the postage charge that has to be submitted online. The fee revision comes into immediate effect. ...

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Telangana all set to implement RERA in July, website powered by Mahaonline

Tuesday 19th June 2018

India’s youngest state, Telangana is all set to implement RERA (Real Estate (Regulation and Development) Act) within the fortnight. Triumphant testing of the T-RERA web portal powered by Mahaonline is almost complete and the registrations will begin by July 1. Mahaonline is a joint venture of the government of Maharashtra and India's largest information technology firm, Tata Consultancy Services (TCS). Once registrations under RERA officially begin, Telangana will become the 14th state in the country to have a functional web portal for project registration.   ...

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MahaRERA chief all set to make land title insurance obligatory

Monday 18th June 2018

The chairman of the Maharashtra Real Estate Regulatory Authority (MahaRERA), Gautam Chatterjee, is all set make title insurance obligatory for registered developers. This comes after insurance companies express interest in providing title insurance for the real estate projects. Though the RERA had made land title insurance mandatory for developers, the state unit was not able to implement the clause right away as there was no insurance player in the market providing such a cover. With that changing, Chatterjee has sought a detailed proposal and will soon announce an implementation date. ...

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Skilled work force certification to be provided by MahaRERA

Monday 18th June 2018

To ensure better construction quality, for the first time MahaRERA will provide skilled labour training certification. The authority will certify trainers to train workers for the real estate industry. The training will help the labour force deliver projects of better quality, which will eventually be graded wherein consumers can access the grades given to the projects on the MahaRERA website. ...

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Merely 49 projects applied for registration under Andhra Pradesh RERA till date

Wednesday 13th June 2018

Andhra Pradesh has finally launched its official RERA website for RERA registrations after almost an year of being notified. The website got an overall 49 applications for RERA registrations out of which only 8 projects have been approved by the regulatory authority and rest are still under surveillance. ...

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What about complaints on projects not under RERA? Asked Bombay HC

Wednesday 13th June 2018

The Bombay High Court on Monday asked the state to explain what regulatory mechanism it proposes to ensure that complaints from buyers in unregistered real estate projects are adjudicated. The high court directed the state to file its reply to a petition that has challenged lack of a policy to deal with conflicts that arise between buyers and builders in cases where developers have not registered their projects under the Real estate Regulation and Development Act of 2016.  ...

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Recovery warrants issued against developers by MahaRERA

Monday 11th June 2018

The Maharashtra Real Estate Regulatory Authority (mahaRERA) has in the last two months issued recovery warrants against developers who failed to comply with its orders to refund home buyers under Section 40(1) of Real Estate (Regulation and Development) Act. MahaRERA adjudicating Officer BD Kapadnis stated that “Despite the notice, respondents have not appeared to explain why the order has not been complied with. So, it is necessary to issue recovery warrant under section 40(1) of RERA instead of proceeding under Section 63 of the Act. Hence, the recovery warrant is issued and it is being sent to the Collector,” ...

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Central team to persuade Bengal to switch back to RERA

Monday 11th June 2018

A team from centre will soon be sent to West Bengal to persuade the government to switch over to the Real Estate Regulatory Act (RERA) to protect home buyers' interest. Recently, the Mamta Banerjee Govt. brought her own Real Estate Act, HIRA (Housing Industry Regulation Act) superseding the central govt.’s RERA wherein it diluted RERA and brought in its own act.   ...

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Exemption from Tamil Nadu RERA not an excuse to delay home handover

Monday 11th June 2018

Ten housing projects outside the purview of the Chennai Metropolitan Area (CMA), which were exempted by the directorate of town and country planning (DTCP) from registration under the Real Estate Act last year, would face the repercussions for not delivering apartments to buyers in time. Following a complaint from a homebuyer, The Tamil Nadu  Real Estate regulatory  Authority (TNRERA) has issued a notice to one such developer on OMR for not completing the constructions leaving the consumers in a state of perplexity.   ...

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Promoter Paradigm Ambit Buildcon complaint dismissed by RERA

Wednesday 6th June 2018

The complaint of a promoter regarding the cancellation of agreement for not receiving the balance amount of the total cost of the flat from the developer was dismissed by The Maharashtra Real Estate Regulatory Authority (MahaRERA). The complainant sought cancellation of the agreement as the developer had failed to refund the amount paid in respect of the said flat and claimed a refund of Rs. 45 lakh from the developers along with the cancellation of the agreement. After hearing the arguments of both the parties, the bench inferred that the developers had paid over 90 per cent of the money to the complainant towards the cost of the said flat. The bench also stated that the agreement for sale drafted by the developer does not carry any schedule of payment as required by the model agreement prescribed under the Act and Rules. Hence, the complainant could not seek cancellation of the registered agreement by invoking the convenient clause in the agreement. The bench thereby dismissed the complaint filed by the promoter. ...

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Consumer body wants to nullify the New Real Estate Act in West Bengal

Wednesday 6th June 2018

A national consumer rights’ forum in housing that was part of the consultative process for the Real Estate (Regulation & Development) Act, 2016 (RERA), has decided to move the Central Advisory Council on RERA for repealing the WEST BENGAL Housing Industry Regulation Act, 2017 (HIRA). According to the forum, the introduction of HIRA throws away the very objective of ushering transparency into the housing sector that was brought by RERA. HIRA has obliterated the clarity of RERA and made the clause on force majeure vague. This defeats the very purpose of the act. One of the main reasons behind the enactment of RERA was to ensure that developers complete and hand over projects on time instead of making excuses for non-compliance to delivery schedules. ...

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Fresh RERA norms to be notified by Kerala soon

Tuesday 5th June 2018

The Kerala government will soon notify fresh RERA rules across considering the primary objective provisioned under RERA to safeguard homebuyers from errant real estate developers, the state government is expected to announce fresh rules and regulations under the act very soon. According to KT Jaleel , local self government minister the new RERA rules would be based on the central RERA Act. Recently, the state government had appointed an interim chairman of the authority. However, no other members have been appointed yet, leaving the authority toothless. ...

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West Bengal comes up with its own real estate laws, despite RERA

Tuesday 5th June 2018

The Centre’s target to bring all new and ongoing real estate projects under Real Estate (Regulation and Development) Act (RERA) has received a setback as West Bengal government has notified its own law for the sector in the state which favours the developers. There are two major dilutions of RERA in the new laws. The first is on unforeseen circumstances that prevent a builder from fulfilling his contract. RERA says the circumstances could be war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature where HIRA makes an addition to the clause “...or any other circumstances as may be prescribed.” The second deviation is on garages. While RERA requires a roof and walls on three sides, HIRA has removed the clause altogether and defined garage as any parking space sanctioned by the government authority. ...

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All unregistered projects to be blacklisted by RERA

Tuesday 5th June 2018

RERA( Real Estate Regulation Authority) chairman  Afzal Amanullah claimed that the building projects not registered under Real Estate (Regulation and Development) Act, 2016 till June 30 deadline will be blacklisted. He further stated that builders and promoters have been given the last opportunity to register their projects under the Act by June 30 with late fee of Rs. 3 lakh or 300% of the registration amount, whichever is higher. RERA member Rajiva Bhushan Sinha said the list of blacklisted firm would be circulated to all RERAs in India so that they would not be able to form a company in any part of the country. ...

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Builders in Bihar can register their projects by 30th June 2018

Monday 4th June 2018

The RERA Bihar has given builders another extension, asking them to register their projects by the end of this month.  "We have given this extension as the last opportunity for builders and developers to register their ongoing projects with a hope that compliance rate would increase," RERA Bihar member R.B. Singh said. He said registration application for 376 ongoing projects had been received at the authority end till May 31 and a sum of around Rs 1 crore had been collected a registration fee. "On the last day of the extended deadline, we got at least 50 applications," Sinha said."There is a provision of imposing fine up to 10 per cent of the total project cost on builders who do not register their ongoing project with the authority. We hope the builders will not let such a situation arise and will get themselves registered during this extended period," Sinha said. ...

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40 cases resolved by Pune Maha-Rera Court in less than 3 months

Monday 4th June 2018

According to officials, Pune Maha-Rera Court has resolved 40 cases of a total 240 cases handed over to the body in merely a span of 3 months. FD Jadhav, deputy secretary of Maha-Rera, Pune, said, “This is a big achievement on our part as we have been able to meet the consumers’ expectations. The basic reason for setting up a court in Pune was to ensure that authorities catered to the needs of the people in the division.” RERA (Real Estate Regulatory Act) 2016 is an exceptional set of laws related to real estate realm which has ensured transparency and efficiency at an unprecedented rate with regards to the sale of plots, apartments, buildings or real estate projects. ...

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Submit the hard copy of applications at RERA head office, Gandhinagar

Friday 1st June 2018

GUJRERA released a circular regarding submission of Hardcopy of RERA application on 30th May 2018. which states that from 01 June 2018 promoters and agents are required to send the physical file directly to RERA head office, Gandhi Nagar within 7 days of application by courier. Before this order, promoters and agents were submitting the hard copies at different collection centers / TPO/. GUJRERA is headquartered at 4th floor, Sahyog Sankul, Sector 11, Gandhi Nagar, 382010. ...

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Appellate Tribunal tells Marg properties to register its project as an ongoing project with TNRERA

Wednesday 30th May 2018

Based on a complaint filed by a home buyer Tamil Nadu Real Estate Appellate Tribunal has directed Marg Properties to enroll his project with TNRERA as an ongoing project. The project was kept outside from purview of RERA as the project was declared as a structurally completed building by the directorate of town and country planning (DTCP). An official statement said the tribunal has directed Marg Properties to register the same as an ongoing project with TNRERA within 15 days from the date of receipt of the order.  ...

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Brochures of only RERA Registered project to be treated as legal entity

Monday 28th May 2018

In a recent judgement by MP RERA, it was concluded that only brochures and model flats of RERA Registered project will be treated as a legal entity under RERA. Legal action against the builder in case of failing to provide amenities can only be taken if project is registered in RERA. A D Kapaley, member of the state regulatory authority said, "In RERA there is a condition that facilities mentioned in brochures and pamphlets should be fulfilled by builder otherwise he will be bound for legal action. But amenities promised in brochures before implementation of RERA cannot be considered as legal entity or else there should be an official agreement between builder and customer."   Madhya Pradesh implemented RERA on 01 May 2017. ...

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No RERA rules in Kerala

Wednesday 23rd May 2018

Kerala is yet to finalize Real Estate Regulation and Development Rules and set up an authority. Local self-government minister K.T. Jaleel said that the framing of the new rules on the basis of the central Act was in the final stages. Steps to form the authority and the appellate tribunal would be initiated immediately, he said. Dr. Jaleel said the delay was due to technical issues as the state had earlier passed a state Act in this regard (Kerala Real Estate (Regulation and Development) Act 2016) and also framed rules. But the central Act came into effect afterward and hence the state Act had to be repealed and fresh rules need to framed on the basis of the central Act. “The subject committee of the state assembly has already cleared the draft rules and it would be notified soon," the minister said. ...

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Only 10% of the brokers are MAHARERA Registered

Wednesday 23rd May 2018

MAHARERA stated that registration of agents in the state are less in number. With over more than 1 lacs agents operating, only 14,000 have taken the RERA certificate. MahaRERA secretary Vasant Prabhu told TOI that the dismal number of registrations was a concern for the authority and they wanted the Confederation of Real Estate Brokers’ Association of India (Crebai) to ensure that all their members registered, either individually or through a company, with MahaRERA. Prabhu said, “We have directed Crebai to ensure that all their members associated with the ongoing projects register with MahaRERA. Citizens should go for deals with a MahaRERA registered broker only.”  ...

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Madhya Pradesh RERA disposed of around 400 buyers complaints

Monday 21st May 2018

Madhya Pradesh RERA has resolved 400 buyers complaints till now. These complaints were filed by buyers against builders. The list of complaints is available on Madhya Pradesh RERA website. Till now, 1800 ongoing projects have been registered in RERA and 360 real estate consultants have been enrolled. Madhya Pradesh implemented RERA on the very first day i.e. 01 May 2017. The Real Estate (Regulation and Development) Act, 2016 is an Act of the Parliament of India which seeks to protect home-buyers as well as help boost investments in the real estate industry. The bill was passed by the Rajya Sabha on 10 March 2016 and by the Lok Sabha on 15 March 2016. The Act mandates registration of every project having a size of above 500 square meters or more than 8 apartments.  ...

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Bihar RERA slapped a notice to Agrani Group

Saturday 19th May 2018

Real estate regulatory authority of Bihar has issued show cause notice to promoters of Agrani builders for mom registration of ongoing projects. Four companies of Agrani group are under radar of Bihar RERA. RERA Bihar chairman Afzal Amanullah said notices were issued to the builders and promoters under Section 7 (revocation of registration) of RERA Act, following complaints by the customers that the promoters have not even commenced the project despite taking the payment 4-5 years ago. The companies which were slapped with notices include Agrani Homes Private Limited, Agrani Homes Real Services Private Limited, Agrani Homes Real Marketing Private Limited and Agrani Homes Real Construction Private Limited. ...

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No change in RERA said housing minister to builders

Tuesday 15th May 2018

Despite being demands from builders,there is no change in Real estate law (RERA). June 30 has also been set as the deadline for establishing permanent regulators, start websites and the tribunals as prescribed in the law, sources said. While addressing the first central advisory council meeting of RERA, Union housing and urban affairs minister said there is no question of amending any provision, though government is open to any suggestions from all stakeholders. “The minister said: let the law in totality be implemented for one year and there is no need for any immediate change.  ...

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TNRERA publish a list of rejected projects on their website

Wednesday 9th May 2018

Tamil Nadu RERA has published a list of rejected projects on its website. 3 projects have been rejected by the RERA authority in Tamil Nadu. As per the list, three projects have been rejected by the authority. A total of 478 projects have been approved and 280 real estate agents have been granted RERA certificate. The office of the Authority is functioning in Door No.1A, 1st Floor, Gandhi Irwin Bridge Road, Egmore, Chennai - 600008. ...

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RERA Bihar issues notices to 40 developers in the state

Tuesday 8th May 2018

RERA Bihar has issued notices to promoters who are advertising their ongoing projects without getting unrolled in RERA. A RERA Bihar official stated that the notices were served on the builders and promoters following complaints by customers. “There are few builders who duped the customers and are working on more than 20 projects at a time without registering them with RERA. RERA members will decide the quantum of fine to be imposed on them,” he said. RERA Bihar member Rajiva Bhushan Sinha said people may take note that the promoters and developers of these projects are not authorized to sell any space in the project under Section 3 of RERA Act, 2016 as all promoters ought to have got registered their projects on or before April 30. ...

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Maharashtra to issue 7/12 extract online

Friday 4th May 2018

Maharashtra will become the first state to issue land ownership document (7/12 extract) online. The 7/12 extract is an information document prescribing details about a specific piece of land such as survey number, area, date and more particulars about the existing owner's name. This extract is a combination of two forms. The extract is issued by the Tehsildar or the concerned land authority. This document is now available online. Eight lakh documents have already generated, the remaining documents will be completed by August 2018 said Chandrakant Patil, revenue minister.  ...

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MAHARERA recommends Single window clearance from all agencies

Thursday 3rd May 2018

MAHARERA has completed its one year of implementation with around 16300 projects being registered with the authority. The Registered developers have expressed their concerns regarding the time taken for various approvals of different authorities. This is one of the main reason for the delay in handing over the property. In this regard, Gautam Chatterjee, the chairman of Maha-Rera, stated the agencies and authorities are working for this. “Creating a single window for clearance does not fall under our jurisdiction. However, we have sent our recommendations to the state government,” said Chatterjee. ...

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MAHARERA to ensure quality of real estate projects

Wednesday 2nd May 2018

MAHARERA must now ensure that quality of newly constructed projects is on a par with what was promised by the promoter, suggested chief minister Devendra Fadnavis. While addressing a meet on first anniversary of MAHARERA fadnavis said the government is considering to bring redevelopment of slums and Mhada buildings under MahaRera rules. With the release of the development plan, there will be more activity in the real estate sector, he added. “There is going to a huge stock of affordable housing ready in the state.” ...

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MAHARERA to keep on eye on registered projects

Tuesday 1st May 2018

MAHARERA will adopt stringent process to ensure that 88% of 16,300 projects registered are completed by 2022. MahaRERA secretary Vasant Prabhu shared this information with TOI on Monday, a day before the authority completes one-year of implementation. “After registering with MahaRERA, officials can monitor the completion of the projects online. The project is deemed completed after a developer submits Form 4 (completion form). So far, we have received 1,800 forms and the remaining should come through by 2022. In case of extension, MahaRERA allows an extension for only one year,” he said. MAHARERA is planning to focus on the issue of unauthorized construction in the second year. ...

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GUJRERA gets a new address

Tuesday 1st May 2018

From 01 May 2018, GUJRERA is functioning from its new address -4th Floor, Sahyog Sankul, GH-Road, Sector-11, Nr. Pathikashram, Opp. Civil Hospital, Gandhinagar-382007. Till now the authority was functioning from the 1st Floor and 3rd Floor, Chief Town Planner Office Building, Sector-10 Gandhinagar-382010. GUJRERA has approved 2,486 real estate projects and 516 agents across the state. ...

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MAHARERA chairman stated the biggest challenge is to make builders RERA compliant

Monday 30th April 2018

Maharashtra was one of the state to implement RERA in India. As the Real Estate (Regulation and Development) Authority Act completes one year of implementation, the biggest challenge is to keep the builders compliant of the law, said Chairman Gautam Chatterjee. "Being the first state to implement the Rera Act, there is certainly a feeling of satisfaction as we complete a successful maiden year. But at the same time, there are many areas of concern which we will have to address such as ensuring that builders who have become compliant of the laws remain compliant," Chatterjee told in an interview over the weekend. ...

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MAHARERA to launch GIS technology for real estate projects

Thursday 26th April 2018

MAHARERA is planning to launch Geographical Information System (GIS) to know the exact location of registered projects in RERA. This facility will be available on MAHARERA Website in about 2 months. MahaRERA will be a year old on May 1. The GIS facility will mark the occasion, MahaRERA authorities said. “The new feature will enable mapping of registered projects. This, in turn, will allow prospective buyers to get an idea of projects in their area of interest, details, and amenities in the vicinity,” MahaRERA secretary Vasant Prabhu said. The GIS will add more to the project’s profile than a developer advertising about his RERA registration, he added. ...

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584 agents and 700 projects registered with Rajasthan RERA

Tuesday 24th April 2018

Rajasthan is one of state to actively implement RERA in the state.  RAJ-RERA website has published a list of approved real estate projects and real estate agents with their details. As of now, 700 real estate projects have been approved by the Rajasthan RERA . Total of 584 agents have been approved till date . The RERA office in Rajasthan is located at Nagar Niyojan Bhawan Near JDA,  J.L.N. Marg Jaipur, PIN-302015 (Raj.)  RAJ-RERA portal has a complaint registration section as well, where all aggrieved homebuyers can file their complaints to the Authority. ...

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MAHARERA ordered the developer to pay interest to home buyers for the delay in possession

Tuesday 24th April 2018

In the recent order of Maharashtra, seven home buyers were entitled to interest on delay in possession by the builder by three years. The possession date specified by the developer was December 21, 2014.The breathing spell of at least six months was also granted after which the possession date was June 30, 2015. Till now, the possession of the flats has not been handed over to the allottees,” said Singh. Hence, the complainants demanded interest for delayed possession under section 18 of the Real Estate (Regulation and Development) act of 2016. “There was adequate time for the developer to complete the project and handover the possession of the said flat even before the RERA act coming into effect in May 2017,” stated the order. Thereby, the bench ordered the developer to pay interest to the allottees for delayed possession at the prescribed rate under RERA act. ...

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Project not in RERA should be disclosed in the advertisement

Tuesday 24th April 2018

TNRERA stated that the projects which doesn’t fall under the purview of RERA must be indicated in the advertisement. “If the project does not fall within the ambit of RERA that should also be indicated in the advertisement,” an official statement from TNRERA said here on Saturday. The statement further said that a number of advertisements are being published in dailies without mentioning the website address of the real estate authority and registration number obtained from TNRERA.   ...

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Builder to pay more fees for RERA Registration of projects

Thursday 19th April 2018

Rajasthan RERA authority has decided to remove maximum cap limit of Registration amount. Now promoters have to pay registration fees for the total area of land or plot. Presently, the promoters have to pay Rs 5 per square meter as registration fee to register plotted residential housing scheme with RERA. The maximum registration fee cap under this category is Rs 2 lakh. A senior official at RERA said, “The registration fee of the project will be calculated on the basis of per square meter. The fee will be imposed depending on the size of the plot. At present, we have fixed minimum and maximum registration fee. Even if the plot area is big, the promoters have to pay the maximum registration fee to register with RERA.” ...

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HRERA takes up 60 complaints on April 10 and April 12

Tuesday 17th April 2018

Haryana RERA Authority has communicated it has heard grievances of 60 homebuyers on April 10 and April 12. HRERA  has given 1-2 weeks as a time for respondents to send their replies. At the hearings, most respondents sought 1-2 weeks time to file their replies,” said HRera (Gurugram) chairman K K Khandelwal, adding the authority will pass its order if they fail to file satisfactory replies within the stipulated time. He also said H-Rera hopes to dispose complaints within 60 days of their first hearing. Khandelwal said the Indo-Japanese real-estate firm, which was fined Rs 30 lakh for advertising before registering the project with HRera, “has deposited the penalty”. HRERA declared that it will organize hearings on every Tuesday and Thursday in a week. ...

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GUJRERA extended date of Half yearly return by real estate agents

Friday 13th April 2018

As per GUJRERA order dated 29 December 2017, every real estate agent is required to provide their complete information periodically with GUJRERA. The last date for uploading first half yearly return was 07 April 2018. It was observed that many agents have failed to comply with this.Taking into consideration the initial implementation constraints, the GUJRERA has decided to give relaxation for uploading their first return. The agents who were due to upload their first half-yearly before  07 April 2018 along with agents who are liable to file their first half by 07 June 2018 can now file their HY returns by 07 June 2018. If the agent “defaults” by not filling the return, all the subsequent HY Return Tiles will be locked for filing and till the agent complies to the penalized action decided by the authority, the agent will not have the facility of HY return filing. ...

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MAHARERA to take action against the architect for the insufficient certificate

Friday 13th April 2018

The appellate tribunal of MahaRERA has asked the secretary to commence an action against an architect for granting flawed and inaccurate certificate to a real estate project.  "The secretary MahaRERA is requested to independently initiate action under the provision of RERA against Manoj Dubal for issuing the factually incorrect certificate," said the order passed by judge K.U. Chnadiwal.  While hearing an appeal, the tribunal observed that a builder during a hearing in MahaRERA had said that building has occupation certificate. However, it was found by the tribunal that the amenities, lift, staircases and other facilities were yet to be completed.  ...

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26 agents and 8 projects enrolled with Delhi RERA

Thursday 12th April 2018

Delhi RERA website has published a list of approved real estate projects and real estate agents with their details. As of now, eight ongoing projects have been approved by the Delhi RERA. Total of 26 agents has been approved till date.   IAS officer Udai Pratap Singh has been appointed as an interim regulator. The RERA office in Delhi is located at 14th Floor, Vikas Minar, ITO. Delhi’s RERA portal has a complaint registration section as well, where all aggrieved homebuyers can file their complaints to the Authority. ...

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MP RERA furnish notices to 300 builder for quarterly compliances

Tuesday 10th April 2018

MPRERA send notices to 300 builders who have not updated the quarterly status of project on MPRERA website. MP RERA chairman Anthony de Sa said, “Our main focus is now to keep an eye on quarterly update of the projects on the website, if anyone fails do to so we will send notices and take action.”As per rules, all the registered projects are required to update the quarterly status of the project along with the pictures on the RERA website. De Sa said the regulatory body has already sent over 300 notices to promoters for failing to update their projects. ...

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MPRERA would facilitate completion of projects

Saturday 7th April 2018

Real Estate Regulatory Authority (RERA) of Madhya Pradesh would ensure completion of real estate projects in case promoters leave a project and escapes after collecting funds from buyers. MPRERA will incorporate a committee of buyers which will decide the future course of the stalled project. This move was taken in response to a complaint filed against an Indore based developer where promoter escaped after collecting money. But the option would be considered only when the majority of investors want RERA to intervene and form the committee, the chairman said, adding that RERA would not force the investors to go for this option.  ...

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MAHARERA slaps fine of Rs 50 lakhs on Piramal Realty

Friday 6th April 2018

In a recent order passed on Thursday, MAHARERA imposed a fine of Rs 50 lakhs on realty player Piramal Realty as the builder did not publish MAHARERA website address along with the advertisement of its project in South Mumbai Mahalaxmi Locality. The advertisement even did not carry the RERA Registration number on the first page, while it was displayed on the second page in a very small font. MAHARERA issued a warning to the builder to ensure that this kind of violation is not repeated in the future. This is the heaviest penalty levied so far by MAHARERA. ...

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Builders should follow RERA rules says AP RERA director

Friday 6th April 2018

While addressing the meet of Builders Association of India’s, Vijaywada chapter, Ch V Sambasiva Rao, director, RERA said that the builders and realtors across the country should follow new regulatory act in real estate industry. While delivering a power point presentation on RERA, he clarified the procedures, terms, and conditions of registration and briefed the required documents for registration. RERA Joint Director Vallabaneni Sunitha said the builders should submit the work progress to RERA once in three months. For every construction project, they should open a separate new account and 70 percent of the construction amount of apartment, villa and individual house should be deposited in the bank account, she added. ...

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RERA would be a game changer for real estate in Goa stated GERA Developments

Thursday 5th April 2018

Gera Development stated that the Real Estate (Regulation and Development) Act would be a big game changer for the Goan real estate industry. “It will further bring a discipline in the real estate industry, thus eliminating the unscrupulous operators in the business and bringing a financial control in the industry,” the company noted. Managing director of Gera Developments Rohit Gera, speaking to reporters on Wednesday, stated that the Act has been implemented in Maharashtra eight months ago; further hoping that it would now get implanted in Goa in the same positive manner. ...

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GOA RERA slaps penalty for registration of ongoing project post 31 March 2018

Tuesday 3rd April 2018

GOA RERA, in an order passed on Monday, has decided to impose the penalty on the application for registration of ongoing projects to be received after 31 March 2018. A penalty of Rs 1,00,000 will be levied for Registrations applications received between 01/04/2018 to 30/04/2018. From 01 May 2018, double penalty i.e. Rs 2,00,000 will be fined on builders till 01/07/2018. ...

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27,000 projects enrolled with RERA says FPCE

Monday 2nd April 2018

Around 27,000 projects across the country have been registered under the Real Estate (Regulation and Development) Act, according to the data from the Forum for People’s Collective Efforts. Around, 17,000 applications for agent registration have been received by various RERA authorities. Of the total number of projects registered, nearly 18,000 are from Maharashtra. That compares with 2,350 in Uttar Pradesh, the second in the list, and more than 1,600 each in Gujarat and Madhya Pradesh. Haryana has registered around 400 projects.  ...

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Only a few realtors registered with RERA Andhra Pradesh in 12 months

Monday 2nd April 2018

In Andhra Pradesh, only 23 projects have been registered with the RERA out of around 2000 projects falling under the purview of RERA. Sources said that in the capital city region alone, over 70,000-80,000 flats have either been completed recently or are under construction. As per rules, all these projects should have been applied to RERA. However, promoters are not earnest on joining RERA, stating several technical and financial troubles. Nine projects-all big-ticket investments from the capital city region got registered under RERA while one each project from Visakhapatnam and Kadapa got registered. “We are waiting with patience with a hope that they will join sooner or later. We will not hesitate to crackdown after giving little more time,” said a senior official of Rera. ...

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3 more months for RERA Telangana panel

Thursday 22nd March 2018

The State government of Telangana will form RERA expert committee in three months. The government is planning to hire IT experts and will take help of agencies that look after RERA in Maharashtra. Principal secretary, municipal administration, Arvind Kumar told a delegation of Forum for People’s Collective Efforts (FPCE), Fight for RERA, a pan-India movement, and U-FERWAS that the new panel will be ready by July. He said a high-level government delegation had visited Maharashtra and Karnataka to study the implementation of RERA and launch of RERA website. ...

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MAHARERA summoned Navi Mumbai civic body for environment clearance delay

Monday 19th March 2018

MAHARERA, the real estate authority of Maharashtra has summoned officials of Navi Mumbai Municipal Corporation regarding environmental clearance delay in connection with Green World Project at Airoli on Thane Belapur Road. They appeared before the authority on January 5 and accepted that the delay had happened at their level, said an order by MahaRERA Member Vijay Satbir Singh. It was clear that project was delayed due to delay in environmental clearance.   “Considering the disruption in construction work for a period of more than a year and other constraints, it is reasonable to extend the date of possession by a year and half to calculate the promoter’s contractual liability under Section 18 of RERA. The promoter is, therefore, liable to pay interest to the allottees from July 1, 2017,” Singh observed in his nine-page order. ...

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RERA Karnataka to appoint private entity to find out unregistered projects in the state

Friday 16th March 2018

KRERA is planning to appoint a private entity to identify unregistered project in the State. The private entity firm will find out the ongoing projects and new launches which are not registered in RERA yet. KRERA has issued tenders for invitation of application for appointment of consultancy. The private entity will be submitting a detailed report to the authority by conducting ground level survey for identification of unregistered projects. “We are planning to execute the project on a trial basis for a month,” said P Sunil Kumar, secretary, RERA. RERA was using the plan sanction certificates issued by BBMP as preliminary information and was planning to send the surveyor to the address for physical verification. “We will scale up the project with more effective tools and expand it to the rest of Karnataka gradually,” said Kumar.  ...

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No misleading advertisement now : HRERA

Wednesday 14th March 2018

Haryana Real Estate Regulatory Authority (HRera) on Tuesday stated that there should not be any difference in the amenities and facilities shown in developers advertisements and what they deliver on ground. Developers who give deceiving information and false ads to lure buyers will face action now,” said chairman of HRera (Gurugram) K K Khandelwal, while he was speaking at a workshop organised by the authority and labour department on Tuesday. K Khandelwal said the authority has already given legal notices to 3-4 developers. “Unlike in the past, now the developer cannot accept pre-booking,” said Khandelwal, adding that the objective is to ensure that developers should give correct information so buyers can take an informed decision without getting deceived. ...

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New certificate for agents and developers by HRERA

Monday 12th March 2018

The Gurugram bench of Haryana Real Estate Regulatory Authority ( H-Rera ) is proving a new RERA certificate to developers and real estate agents who register with the HRERA.   “H-Rera rules will be engraved on the left-hand side of the certificate,” said H-Rera chairman K K Khandelwal, adding that the objective of the new certificate is to evade duplication and tampering.      “Real estate agents will not facilitate the sale or purchase of any plot, apartment or building, as the case may be, in a real estate project or part of it, being sold by the promoter, which is not registered with the Authority " stated chairman K K Khandelwal.  ...

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Rural projects in Rajasthan lacks behind in RERA Registration

Wednesday 7th March 2018

The maximum of real estate projects in rural areas still not registered with Rajasthan RERA. According to official sources, “Less than five developers have registered their projects in Jaipur. The projects are more than 50 in the state capital.” After implementing the RERA in urban areas, authority decided to take real estate projects in rural areas under its ambit. A penalty would be levied if developers miss the boat to register their ongoing project within the target date.  The Authority will impose penalty of up to 10% of project cost on Developers who fails to register with RERA. ...

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Telangana Government constituted an expert committee for RERA setup in the state

Tuesday 6th March 2018

The Telangana Government has constituted an expert committee to study the status of RERA implementation in the State. The Principal Secretary, Municipal Administration, Arvind Kumar has issued orders in this regard, an official release said today. The expert committee consist of  Chief City Planner of the Greater Hyderabad Municipal Corporation (GHMC) S Devender Reddy, Municipal Administration and Urban Development (MA&UD) department Director (Planning) S Balakrishna, and Director of Town and Country Planning K Vidyadhar, stated in notice. The committee will study the Process followed by Maharashtra and Karnataka for administrative setup and other functional aspects. ...

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No full fledged chairman for TNRERA

Tuesday 6th March 2018

Despite of eight months of its inception, there is no permanent regulator for TNRERA. The Secretary of Housing and Urban Development is presently acting as interim chairman of the RERA authority in Tamil Nadu. The State Government of Tamil Nadu passed the RERA Rules on June 22, 2017. Ramaprabhu, honorary secretary of the Builder Association of India's Southern Centre, Chennai, said a full-time chairman and members were essential for smooth functioning of the authority. "Their presence is required for swift action and quick disposal of the grievances of home buyers," he stated. As per the Real Estate Regulatory Act 2016, every state needs to form an authority within the stipulated period of one year from the date of the act enforcement. ...

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Kerala Government assigns B Ashok as Interim RERA for the State

Monday 5th March 2018

The State Government of Kerala has appointed B Ashok as the interim real estate regulatory authority. The LDF government had withdraw RERA Act ,2015 stating that it did not protect the end user and its provisions are more towards the Builders end. With the government now bustling for an interim authority, officials said that there could be further holding in having a full bloom RERA in the State.  The order appointing urban affairs secretary as the interim regulatory authority says that the call to have an interim body has been compelled  by growing number of real estate-related complaints and litigations in the absence of such an authority.     ...

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Karnataka ranks second in RERA execution

Tuesday 27th February 2018

Karnataka stands second in Real Estate Regulatory Act implementation in the country. With over 1900 projects registered and 100 complaints filed, state is a leader in the country after Maharashtra. A joint report on ‘RERA: How are you gearing up for compliance’ by the Federation of Indian Chamber of Commerce and Industry (FICCI) and Grant Thornton released last week has given Karnataka second position in the country, next only to Maharashtra with regards to registration of projects. ...

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Coimbatore on second rank in filing applications in TNRERA

Tuesday 27th February 2018

TN RERA has received maximum number of applications for project registration from Chennai followed by Coimbatore. After Chennai, the most number of applications for approval of real estate projects have been received from Coimbatore, said S Selvakumar, secretary of projects, Tamil Nadu Real Estate Regulatory Authority (TNRERA).   After Coimbatore, there were significant number of applications from Madurai, Trichyand Hosur. “So far, there have been no applications from Ramanathapuram and Sivaganga,” said Selvakumar. He added that the TNRERA was taking all measures to create awareness about the act across the state.“   A total of 56 project applications have been received out of which 43 have been approved from Coimbatore.  ...

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Goa extends RERA Project registration deadline

Monday 26th February 2018

GOA RERA extended date for registration of ongoing projects in RERA to 23 march 2018. Developers can register their projects till 23 march 2018. “However, applications for registration can be uploaded till March 31 but with a penalty of Rs 50,000,” secretary for urban development and interim RERA authority for Goa Sudhir Mahajan stated in the circular. GOA RERA website was launched in mid January. Till now only four projects and six agents are approved in GOA RERA. ...

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Punjab Developers gets another shot for RERA Registration

Tuesday 20th February 2018

Developers in Punjab gets the second bite of the cherry as RERA Punjab has given another opportunity for Registering in RERA. Those developers who have not registered their projects by 31st December 2017 has another chance to register in RERA. A spokesman of Punjab Government stated as per provision of section 3 of Real Estate (Regulation and Development) Act, 2016, promoters of the ongoing projects (except those exempted under section 4 of the Act) were required to register their projects within three months of the commencement of the Act which is July 31, 2017. The authority subsequently extended the last date of registration of projects up to December 31, 2017, he added.         ...

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Flat owners of Lavasa Corporation bangs MAHARERA for entitling them as Lessee

Friday 16th February 2018

In ruling of MAHARERA , complaints of numerous aggrieved buyers were dismissed on the ground that agreement signed between allotees and Developers  was taking shape of lease transaction and hence out from the purview of RERA. Buyers now want the involvement of State Government in the case. MahaRERA should remove Lavasa from its online portal if complaints from its buyers did not fall in the purview of the RERA demanded buyers. “At least people will stop approaching MahaRERA. We appeal to the Devendra Fadnavis government to intervene and give us justice,” buyer said. Total of five complains were set aside due to paucity of legal grounds. ...

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Developers received noticed by MAHARERA for not updating Project information

Monday 12th February 2018

Real estate Regulator of MAHARERA has slapped a notice to builders for not revising the project information in every three months as per the act. In last three months, only 35% of the developers have updated the project information. Clause 20 of the act says that details of every registered project need to be updated in every quarter in respect of work done and inventory sold. As per the notice of the MAHARERA, this will be decoded as breach or non-compliance. ...

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RERA Bihar slaps notice to ten projects

Thursday 8th February 2018

RERA Bihar issued warning notices to ten real estate developers for promoting their upcoming projects without RERA Registration. As per section 3 of the act, every real project measuring more than 500 square meters or more than 8 units is mandatorily required registration under RERA. “Notice dispatched to ten projects should be considered as an example for other developers as well in the state “stated principal secretary Chaitanya Prasad Prasad.In Bihar, only one project is registered with RERA while five applications are in process. ...

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Cooperative housing societies comes under the umbrella of RERA

Wednesday 7th February 2018

Interim regulator of RERA Karnataka chairman Mr. Kapil Mohan clarified that cooperative housing societies come under the purview of RERA which cover 1577 housing societies in entire state of Karnataka.  The RERA states that any co-operative housing finance society or primary co-operative housing society that constructs apartments or buildings is falling under RERA. RERA intends to bring forth transparency in the sector and shield the interests of the buyers while imposing severe penalties on errant builders. ...

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5% buyers payment to be waived off by Sheth Group instructed MAHARERA

Tuesday 6th February 2018

In the recent judgment MAHARERA has asked developer Sheth group to forgo 5% balance payment to be received by buyer against full and final payment due to delay in possession. Developer has been instructed to give possession of the flat by 31st March 2018. 95% amount to be deemed as full and final payment received by buyer.  "We are ready and willing to handover the possession of Neha Agarwal’s Flat on or before 31st March 2018. We are seeking clarity from the honourable court on the matter of the 5% due from the customer," Sheth Group said in an email response. ...

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HRERA Benches will be serviceable within a week

Friday 2nd February 2018

The Haryana State government has designated two chairperson each for Panchkula and Gurugram benches."These benches will be functional within first week of February"an official added. For Gurugram bench, Samir Kumar, a retired IAS officer, and Subhash Chander Kush, a former chief town planner, have been chosen. Anil Kumar Panwar, a retired district and sessions judge, and Dilbag Singh Sihag, also a former chief town planner are picked up for Panchkula bench. Officials stated that Gurugram Bench would be functioning from Public Work Department situated on Old Railway Road nearby District Court. ...

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Rs 21,000 Crore set aside for affordable housing

Friday 2nd February 2018

Government takes a huge step by granting Rs 21,000 crore for affordable housing. This affordable housing drive intends to construct 5.1 million rural houses in FY 2019 in addition to 5.1 million houses being constructed this year. Other sector such as Steel, Cement, Paint will surely get a lift from this step. The plan of action is to extend interest subsidy to the rural households that doesn't fall under PMAY. Government will give 3% interest subsidy for 20 years loan component up to Rs 2 Lakhs. A dedicated fund for affordable housing in national housing bank is to be created for the same. ...

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TNRERA puts on the website list of ongoing project " Not meant for sale ".

Thursday 1st February 2018

The realty regulator of Tamil Nadu has published list of 40 ongoing projects in Chennai which are not available for sale for buyers .Promoters of these projects received legal notice from TNRERA to get themselves registered with RERA as they are in scope of RERA act. Promoters clarified to TNRERA that these projects are meant for self use only.Thus units are not eligible for sale to general public.  Section 3 of the RERA states that Promoter of the ongoing projects who have not registered with RERA are not allowed to sale any stretch of the project .  Buyers cannot make purchase from these 40 ongoing projects in Chennai. ...

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MahaRERA is going to start its 5 conciliation forum, out of 10, from 1 February onwards

Wednesday 31st January 2018

MahaRERA was cogitating upon how to prevail over any realty sector problems. Hence, in the middle of January 2018, MahaRERA decided to form one forum of 33 conciliators, who would bear the responsibility of resolving all kinds of real estate disputes in their initial phase. To acknowledge such problems, 5 conciliation benches of this authority will become operational on the very first day of February. These benches are only in Pune right now and will start their work on 1 March. Rest 10 conciliation benches will be in Mumbai only and “when will they start hearing cases!” is not decided yet. ...

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MAHARERA says RERA unworkable for lease transactions

Wednesday 31st January 2018

In the recent judgement, MAHARERA expressed that Real Estate Regulation and Development Act ,2016 is not applicable on lease transactions. MAHARERA set aside the case of Jitendra Tulsiani who filed a complaint against “ Lavasa Corporation’s Brookview project at Lavasa city in Dasave in Pune claiming delay of possession by the developer. Bhalchandra Kapadnis, Member, MAHARERA, stated that  the agreement signed between Tulsiani and the developer was an “agreement to lease of apartment”.However section 2(d) of RERA defines allottees and clearly excludes person to whom apartment is given on rent. Since the complainant has agreed to take an apartment from respondents on lease, MahaRERA does not get any jurisdiction to adjudicate upon this complaint,” he said. ...

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Gujarat RERA stimulates the registration numbers by accelerating the registration process

Tuesday 30th January 2018

Gujarat government was lagging behind the rest of the states in introducing its RERA website. On the other hand, other states were taking the lead in the registration process. Notwithstanding, it doesn’t make this Gujarat state any less in the same process. RERA registration in Gujarat started on 10th July 2017 and right from then, it has completed registration of almost 1426 projects and approx 410 agent registrations. ...

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RERA Karnataka reduces realty projects which were under investigation

Tuesday 30th January 2018

3 weeks back, a drive was started off by RERA Karnataka to draw builders’ attention on their non-registered projects and to extract details of these projects. Now, within a month; builders from Karnataka have given prompt reaction to RERA Karnataka’s stringent action of putting 780 real estate projects on its website under the warning disclaimer. Several clarifications and required documents have been provided by these builders to RERA authority. Now 623 projects, out of 780, have been removed from RERA Karnataka’s web portal and 148 new projects have been added to that category. Therefore, this makes a current total number of projects 305. ...

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TNRERA is soon to get Chairperson and two members

Tuesday 30th January 2018

Tamil Nadu Real Estate Regulatory Authority (TNRERA) will be going to appoint a chairperson and two other officials shortly. S. Krishnan (Principal Secretary (Housing)) has been assigned as the authority on the temporary basis. Right now, a former judge of the High Court, B. Rajendran is functioning as the chairperson of the Real Estate Appellate Tribunal and Andaman and Nicobar Islands will come under the jurisdiction of both RERA and this Tribunal. The main concern of this authority is to appoint only those who have “no financial interest” and “persons of integrity beyond question”.  ...

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28 new housing projects have been added on; TNRERA marks more than 300 projects registration

Monday 29th January 2018

TNRERA has generated data on its web portal which stated that 28 new housing projects have been registered by this authority till 18 January; additionally, 18 projects, out of 28, are from Chennai and its peripheries. Therefore these new projects have taken the number of housing projects to more than 300 since the inception of this authority which was on 22 June 2017.  ...

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Temporary Haryana RERA’s office will get a kick start from 1 February

Monday 29th January 2018

Residents from Haryana got a sudden burst of happiness as a temporary H-RERA’s (Haryana RERA) Gurgaon office will start its functioning from February 1, 2018, but, above all, permanent office will come up after 6 months. This temporary office will have different wings like; legal, administrative, accounts, complaint and registry. Apart from these wings, H-RERA will also be headed by a session’s judge. Functioning of this authority will be carried by 52 officials initially and this number will get higher with each passing days. For resolving one particular issue, H-RERA would take maximum 60 days time period.     ...

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Uttarakhand Cabinet extends RERA registration and annual return date

Thursday 25th January 2018

Great relief to builders and promoters has been given by Uttarakhand government. The state government decided to not to charge late fees. Prior to this scenario, builders and colonizers had to register themselves until 30 September 2017 to avoid extra charges. But now the deadline has been extended up to 28 February 2018. In another case, ambiguity arose because of the implementation of GST as traders were not very clear about this concept and got confused. Nevertheless, traders heaved a sigh of relief as the last date for filing their annual return has been extended by a period of 3 months. The deadline for the traders will be 31 March 2017.  ...

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Homebuyers are in the dilemma, whether opt for RERA or consumer forum

Wednesday 24th January 2018

Before the implementation of RERA, consumer forums were the only authority to make an appeal. These forums were dealing with the case from the district, state or national level to provide relief in cases of cheating. However, the introduction of RERA got the limelight in its initial phase and homebuyers would move to this authority. Since RERA will not deal with projects that have got their occupancy and completion certificate before 1 July 2017 RERA has its own limitations. Furthermore, the consumer forums are the only remedy on which homebuyers can bank upon as certain states are yet to adopt this RERA Act. ...

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MahaRERA rules mention "legal contention is necessary for legal title deed plus agency’s online portal"

Wednesday 24th January 2018

Complainant Arif Shaikh filed a complaint against Pune-based builder in connection with the registration details of their ongoing project. Shaikh alleged that he and his father have one-sixth of the project title, interest on the property and undivided right but Respondent intentionally suppressed the injunction order to restrain the promoter from encumbering or creating any third party rights pertaining to their share in the property. The sole motto behind this ruling is to help homebuyers so that they can easily access the information.   ...

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Haryana RERA is depriving of chairpersons, the website is also under construction

Wednesday 24th January 2018

Two IAS officers were appointed by Haryana government as a head of the Gurgaon bench and as a chief of the Panchkula bench. In spite of that these officials are not able to assume charges due to the sluggish process of Voluntary Retirement Scheme (VRS), which they need to, opt before occupying their designated RERA post; moreover, Haryana RERA website is in the same condition which is still being developed. This status of Haryana RERA has thrown home-buyers confusion as they don’t have any clue about how they should lodge complaints and who should they approach with their grievances!  ...

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“Evident hindrances to realty sector and how to overcome them” is discussed by BAI’s National President

Tuesday 23rd January 2018

HN Vijaya Raghava Reddy, National President of Builders Association of India (BAI), told about how construction and real estate sector was going through a lot in the absence of regulatory reforms; however, some reforms like RERA has also serious failures at the implementation level as the government of some states are taking advantage of flexibility given by the central government. He also put forward some suggestions for promoters’ consideration that being small or big player doesn’t matter now. Being organized and adhering to the rules, having proper project development plans and capital procurement systems are the new surviving techniques in the realty sector.   ...

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RERA restores homebuyers’ faith, 45% buyers in the first quarter of 2018 are looking to buy after it

Monday 22nd January 2018

As transparency, timely delivery of project, accountability and organized development have been brought by RERA these things are acting as a great confidence booster for prospective home buyers. Moreover, this has been proved by recent figures which show that 45% of homebuyers are looking to purchase homes in the first quarter of 2018. Last year the central government granted infrastructure status to affordable housing projects and this step brought 27 % increase in the supply of newly constructed affordable homes in first 3 quarters of 2017. Lately, the inflation rate has shown stability, therefore, lending rates have started to calm down.      ...

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TNRERA makes 186 agents certified to commence their business hassle-free

Saturday 20th January 2018

TNRERA’s (Tamil Nadu Real Estate Regularity Authority) web portal has generated the data of 186 real estate agents who have now come under its ambit. The preponderance of agents, who are registered with TNRERA, is based in Chennai and 151 in numbers. The bunch of 186 agents is categorized under 2 heads. The category of the firm has taken 109 agents while 77 persons have registered as individuals with the state’s real estate regulator. To obtain RERA certificate agents need to comply with some obligatory disclosure of maintenance of records, books of account and documents with the provisions of the Income Tax Act, 1961. ...

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Mr. Venkaiah Naidu supports RERA, says it is for real estate promotion not for strangulation

Saturday 20th January 2018

Vice President of India Venkaiah Naidu shared his views on RERA while inaugurating 28th convention of the Builders’ Association of India in Bengaluru. He strongly supported RERA by stating that it seems to be strangulated only for those “fly-by-night operators” who have been misusing the customer’s confidence in them but RERA is not breaching civil liberties. He further added that he is very much aware of contractor’s problems and certain difficulties which are facing by them; therefore, NITI Aayog has initiated steps to form a committee of all stakeholders to bring out unified standard contract document.  ...

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RERA’s reign changes market flavor from the single entity to joint ventures

Friday 19th January 2018

RERA’s strategy to establish dominion over malpractices of culprit developers and promoters is working effectively as corporate developers are opened up to joint ventures with realtors who have credible track records and a strong brand name. This scheme has unbarred a potentially lucrative business opportunity for corporate entities and new entrants/emerging companies. Moreover, banks that have an increased number of NPA (non-performing assets), are looking for “government-oriented companies” to monetize these assets. Now large corporate entities are not limited to one option; therefore, they have plans to expand their real estate portfolios. In the wake of this, they are contacting several developers and landowners to enter the residential market.  ...

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Goa government turns down CREDAI’s request for the extension of registration date

Thursday 18th January 2018

Having enough of builder’s sluggish behavior, Goa government has decided to reject CREDAI’s (The Confederation of Real Estate Developers’ Associations of India) request for on-going real estate projects’ extension till April. CREDAI was seeking 90 days extension period from the launch of RERA registration portal. However, it got rejected by the state government and CM Manohar Parrikar said that agents and builders have got enough time to study the Act.  Hence, from August until today, they have known everything and consequently, builders and agents must strictly adhere to 24 February 2018 to register their underway projects.   ...

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One forum of 33 members has been set up by MahaRERA for pacification process

Thursday 18th January 2018

Maharashtra is on a mission to resolve all disputes in their initial phase and to comply with such motive MahaRERA has established a forum of 33 conciliators. This forum is made up of 15 teams with 2 members each in which one is from realty developers’ industry body and another one is from consumer forums to represent home buyers. To deal with any shortfall due to anonymous reason, this regulator has also appointed 3 extra conciliators who will be the part of these teams. 10 conciliation teams, out of 15, will look after homebuyers’ plea from Mumbai and rest 5 teams will take care of real estate queries from Pune.  ...

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Bombay High Court intervenes in an order issued by Maharashtra RERA and quashes it

Wednesday 17th January 2018

The state court acted promptly on homebuyer’s plea and revoked an order, which was issued by MahaRERA on 28 November 2017, by saying that the order is illegal and asked MahaRERA to reassess the petitioner’s claim and pass a well-thought-out order. The complainant argued that MahaRERA had just copied the developer’s arguments without even considering real facts and situation. In this case, the developer claimed that his project had been started in 2009 but was delayed due to change of law, incorrect classification of the plot as CRZ II and administrative conflicts. So he is not liable to pay any compensation as these reasons beyond his control. ...

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Market experts are confident that RERA will boost growth and sales in real estate

Wednesday 17th January 2018

Brand Capital and Brand Estate of The Times Group organized a conference in Navi Mumbai for the sake of developers. Brand capital is the investment arm of the Times Group. Here experts exchange their views and put some opinions in front of developers. They are confident about RERA act feasibility in realty sector as 2017 was the year of formation and implementation of some taxes and acts like GST, RERA and demonetization but 2018 will give benefits to developers and homebuyers as RERA Implementation brings transparency and profitability moreover these things are needed to fuel the sales.  ...

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New guidelines make registration obligatory for all real estate belongings with RERA

Tuesday 16th January 2018

To skip heavy penalties and rigorous imprisonment, TNRERA directed all concerned real estate and building owners to register their properties under RERA Act. The new guidelines stated that without obtaining consent from RERA authority no one should involve in development and sale of any building or real estate project having development or built-up area of 500sqm moreover if the number of units exceeds eight one should register this project with this authority. Now every certified building owner or promoter has their registration number which they got under RERA. This number must be mentioned with their own advertisement while doing sale and development of the particular property. ...

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TNRERA needs to draft rules for issuing completion certificate to overcome its own limitations

Tuesday 16th January 2018

The shackle of the non-existence of mechanism, to conduct checks and issue completion certificates for housing projects in areas under the DTCP (Directorate of Town and Country Planning), is preventing TNRERA (Tamil Nadu Real Estate Regulatory Authority) to take prompt action against developers who are violating the rules. However, such violations can be eliminated if completion certificates are made obligatory in areas under the DTCP which covers the entire state except for Chennai Metropolitan Area. Moreover, TNRERA stated that the real estate act does not allow the Chennai Metropolitan Development Authority (CMDA) to inspect buildings; instead of that CMDA is issuing completion certificate after inspecting the construction.  ...

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Punjab RERA passes benchmark order, 3 conditions must be fulfilled before complaining about unregistered projects

Friday 12th January 2018

If homebuyers want to file a complaint against a promoter whose project is not registered with RERA, in this case, the complaint shall not be maintainable before Punjab RERA. This Authority solved out the obscurity related to complaint’s maintainability where the errant builder violation took place prior to the commencement of the RERA Act. Henceforward, if any complainant wants that its complaint must be considered so he shall fulfill 3 conditions. The alleged violations, though commencing before the enforcement of the RERA Act, must be continuing till present. The alleged violations must also comprise an infringement of the RERA Act and the rules and regulations made thereunder. Any complaint shouldn’t be pending in any consumer forum before approaching RERA. ...

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Government’s decision of 100% FDI in real estate brokerage will attract international investment

Friday 12th January 2018

The government of India took meritorious decision to allow 100% Foreign Direct Investment (FDI) under automatic route in the real estate broking services. Many property consultants believe that this initiative is not a new provision; however, the re-introduction will revamp the path of investment in Indian brokerage companies through International counterparts. Furthermore, this move will encourage International brokerage firm to establish their own subsidiaries in India. It has been clarified by the Cabinet that real estate broking services would not be classified as Real Estate business so companies, which work under these broking services, are eligible for 100% FDI under the automatic route.  ...

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To make sure builders can’t overlook RERA rules, Gujarat RERA imposes hefty penalty on promoter

Friday 12th January 2018

A Vadodara based builder, Jayesh Patel was penalized by Rs. 3 lakh for not handing over the possession of flats on time which was in his scheme. In case of failing the process of project registration with RERA, a builder can be fined up to 10% of the project. In spite of that, RERA cited the fact that the builder has already gone through a lot in selling his units besides delay in construction work due to lack of funds. Back to back penalty cases reflect that RERA authority is in no mood to spare the culpable builders. ...

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RAJ-RERA is in action, fraudulent builders will get punished anyhow

Thursday 11th January 2018

Rajasthan RERA authority has given itself to consumers by taking action against violators of Real Estate (Regulatory Authority) Rules. In an idiosyncratic case, which has taken place in Rajasthan, the authority took action against 4 developers for the very first time since initiation of RERA in May last year.  In the verdict, two developers were asked to pay a fine that was 4 times the RERA registration fees as they were not able to complete formalities related to document submission even after the registration of their projects with RERA. Furthermore, two other were served show-cause notices because they just started promoting and marketing their projects without registering them with RERA.   ...

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Wait for Goa’s RERA website is over, Goans heave a sigh of relief

Thursday 11th January 2018

Amid of certain ambiguities and assumptions; finally, the website of Goa RERA for online registration of real estate projects and agents will be unveiled within a week. Now builders don’t need to wait for so long because they will be able to register their projects on the website from its inception. Sudhir Mahajan, the chairman of Goa RERA, disclosed that incorporate changes, which were suggested by industry stakeholders, led to the delay in the launch of this website but now the trial run of this online portal is on and the final launch will be made within a week.  ...

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TNRERA is seeking help from public sector banks to ensure more registration

Wednesday 10th January 2018

TNRERA has come up with a new strategy to make sure that developers will adhere to rules of RERA registration. In this matter, TNRERA will approach the concerned banks because it believes, “if banks insist on the TNRERA registration number before providing loans to prospective buyers, the builder would be left with little options expect to register his project with the authority.” This step will be taken in the aftermath of the disproportion between the number of housing projects registered with the realty regulator and the volume of planning permissions. ...

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MahaRERA lashes out at developer for selling an open car parking slot

Wednesday 10th January 2018

Buyers Devendra and Pushpa Agarwal alleged that the developer Nandraj Developers Pvt Ltd. of a project, named Royal Residency C in Lalbaug, had charged them Rs 25,000 towards allotment of an open car parking slot. The Chairman of MahaRERA Gautam Chaterjee heard the whole matter in which Agarwals paid a consideration for one stilt car parking, but details of closed car parking weren’t shown on the MahaRERA website and directed the developer to refund the amount collected from selling that parking area. One more thing which must be considered that selling of parking spaces even before RERA came into force was not allowed. ...

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BAI’s appeal: One regulatory authority should be established for intransigent cement industry

Tuesday 9th January 2018

Investment Information & Credit Rating Agency stated that India has the world’s second-largest cement industry; however, the Builder’s Association of India (BAI) wanted the formation of a regulatory authority to control unfair practices of this industry and to tame monopoly which has been created by it. BAI also demanded that some reduction should be done in 18% of GST which is levied on the construction sector only. BAI believes that this regulatory will surely bring the transparency and smooth growth.  ...

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Goa Realty Sector wants clarity on implementation of RERA rules

Monday 8th January 2018

Officials and builders, from the town and country planning department, said that real estate sales graph has shown severe slow down as homebuyers and developers are not very clear about RERA implementation. Therefore Developers of Goa want implementation lucidity of RERA rules, predominantly related to compliance. Furthermore, the president of CREDAI-Goa, Jaganath Desh Prabhu Dessai stated that once registration website is live, they should get 90 days to register.    ...

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Hike up in the prices of inputs would fetter the affordability of housing and infrastructure projects says “CREDAI”

Monday 8th January 2018

Builders of the Hyderabad state are soliciting for the intercession of government to control the exponential rise in inputs’ prices. The General Secretary of CREDAI (Confederation of Real Estate Developers Association of India), P Rama Krishna Rao stated, in a curtain raiser event of a property show in Hyderabad, that price of cement has increased rapidly only in about 8 to 10 weeks and this would consider a paradigm shift in the affordability of housing and infrastructure projects taken up by the Telangana government.  ...

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To de-stressing builders, BAI will organize the three-day national convention in Bengaluru

Monday 8th January 2018

Builders’ Association of India (BAI) is going to organize the three-day national convention, which will start from January 19, 2018, to help the builders who are in great turmoil because of “lack of clarity” on certain taxes and acts. The theme of this convention is “Building India.” It will address the problems of Builders who are on the verge of bankruptcy due to factors like, lack of clarity on GST.  Convention Chairman Bhishma R Radhakrishnan shared that Real Estate Sector is the only sector which is paying a wide range of taxes such as, GST, Sales tax, Municipal Taxes and so on.   ...

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MahaRERA contends absence of agreement of sale will lead to zero compensation

Saturday 6th January 2018

Homebuyers of a Bhagtani project registered a complaint in MahaRERA against the Promoter of Bhagtani’s Serenity project in upscale powai. But all efforts were in vain and they came back empty-handed as the Adjudicating officer and Member, MahaRERA, Bhalchandra Kapadnis dismissed the plea of 15 home buyers in the absence of a registered agreement for sale.  The Apex Authority stated that issuance of allotment letter is the most necessary and initial stage of agreement of sale. Without the agreement of sale, the Section 18 can’t be invoked. In Section 18 it is clearly mentioned that a promoter is liable to pay interest or compensation if he fails to complete or is unable to give possession of an apartment in accordance with the term of the agreement for sale.  ...

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In the “possession delay” case, MahaRERA can declare arbitration process void

Friday 5th January 2018

In an unprecedented pronouncement, MahaRERA stipulated that this authority can nullify arbitration applications and issue orders to complaints filed by a co-purchaser.  In this matter, MahaRERA shed some light on the above-mentioned statement and said that this Authority has the jurisdiction over the arbitration applications as RERA Act was ratified after the Arbitration and Conciliation Act of 1996. Furthermore, MahaRERA stated that if any flat is booked in the name of two people (suppose two people are Husband and Wife) and one of them is party, then a complaint which is filed by one of them is “maintainable in law.”  ...

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Various real estate projects, builders and agents are at a standstill to escape HRERA rules

Friday 5th January 2018

Approximately, 400 Real Estate projects, out of 600 applications received, have got registered under HRERA. Instead of that, more than 250 builders are still escaping the legal process of registration of their incomplete projects.  On the other hand, HRERA has taken 665 agents under its ambit out of more than 700 applications. This authority is delaying in taking action against these defaulting developers and agents as two requisite members are yet to be appointed however the Chairman of HRERA has got appointed already.  ...

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RERA Karnataka takes stringent action by putting 780 real estate projects list on its website

Friday 5th January 2018

Developers of 780 building projects are jolted by RERA Karnataka as a highlighted warning in bold red is put on RERA Karnataka website which is “rera.karnataka.gov.in”. This step was taken by the authority after sending several notices to above-mentioned developers which were ignored by them. One top official gave the statement that RERA is not proclaiming anyone guilty in this case because there might be some genuine reasons behind non-registration of several projects; still, if the penalty of 10% of the building project cost is not paid, guilty developers should be ready for three-year-imprisonment. ...

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MahaRERA dismissed a case which was already undertaken by consumer forum

Wednesday 3rd January 2018

The complainant Deepak Tejwani had booked a flat in the Siddhi project by the developer Anil Chabria at Shahad Kalyan. Mr. Tejwani claimed in the complaint that Mr. Anil Chabria had not even executed the agreement for sale but also failed to inform Tejwani about the status of construction. After filing a complaint in Consumer Disputes Redressal Commission (Maharashtra State), Mr. Tejwani approached MahaRERA. However, the bench of B.D. Kapadni and adjudicating officer dismissed this complaint and said’ “I find that the complainant cannot do a forum shopping”. ...

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RERA brings 20,000 real estate projects under its ambit

Tuesday 2nd January 2018

The Housing and Urban Affairs ministry declared that approx 20,000 projects of Realty sector have been registered under RERA and Maharashtra is the sole state which has registered more than half of them. Uttar Pradesh, with Gautam Budh Nagar, has registered 2,000 projects in which Noida is accounting for more than 1,000. Meanwhile, Andhra Pradesh, Karnataka and Gujarat have registered the ginormous number of Real Estate projects. There are certain exemptions to the projects which have been given to states like Maharashtra, Haryana and Andhra Pradesh. Realty projects, in Karnataka, which are 60% complete have been kept out of RERA.  ...

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Maharashtra government gives the approval to set up state tribunal

Tuesday 2nd January 2018

Establishment of a tribunal, to hear the appeal against the rulings of MahaRERA (Maharashtra Real Estate Regulatory Authority), has been done by the Maharashtra government on New Year’s Eve. Now Maharashtra Revenue Tribunal, which is located in Mumbai, will bear this responsibility and functioning of this act will be under the Maharashtra Land Revenue code, 1966. Until the establishment of Maharashtra Real Estate Appellate Tribunal under section 43 of the said Act, these two tribunals will be the Appellate Tribunal to hear the appeals under the said Act.  ...

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2 developers in Maharashtra are liable to pay interest for late delivery

Friday 29th December 2017

In two different cases, which were adjudicated by MahaRERA adjudicating officers Bhalchandra Kapadnis and Vijay Satbir Singh, an ex-parte order was being passed as developers failed to turn up for hearings. In the prior case, the verdict was in flat buyer’s favor as officer directed the developer to refund total amount (total sum + stamp duty + registration charges) with 10.05 % interest as per SBI’s Marginal Cost of Lending Rate (MCLR) from the respective date of payment. In the latter case, the complaint was dismissed as developer offered to pay interest to flat owners from the deadline till actual delivery of flats and promised that possession would be given within extended stipulated time. ...

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Landowners irked by new TDR (Transferable Development Rights) in Bangalore

Thursday 28th December 2017

Karnataka government decided to frame new rules for TDR in March, 2017 after withdrawing its old policy. Until now, in TDR, compensation amount of surrendered land was fixed according to zone-wise classification. Guidance value for agriculture land is fixed at Rs 440 per sqft; on the other hand, non-agriculture land is fixed at Rs 4,000 per sqft. In spite of that; there is obscurity in fixing the land value and type. Landowners are trying so hard to get Development Right Certificate (DRC), but haven’t got any success; even they have surrendered a portion of their property to the BBMP (Bruhat Bangaluru Mahanagara Palike) 5 to 6 years ago. ...

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Silent protest of Noida homebuyers to drag Prime Minister’s attention

Wednesday 27th December 2017

Prime Minister Narendra Modi was in Noida, for the inauguration of Magenta Line, while the homebuyers staged a silent protest outside three different locations which were sector 18 metro station Noida, botanical garden metro station and Amity University, Sector 125, Noida. Homebuyers were protesting against builders for delaying the delivery of flats in Noida, Greater Noida, and Yamuna Expressway areas. Approx 1,000 buyers are still waiting for the delivery of their units in projects like Unitech, Amrapali, Supertech and Jaypee Wish Town Noida. ...

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Now it’s co-operative society’s turn to register under RERA Karnataka and GST

Tuesday 26th December 2017

Karnataka Real Estate Regulatory Authority has set off alarm bells among CHS Cooperative Housing Societies (Urban and Rural)in the state as 10,000 co-operative societies, out of approx 50,000, have to be registered under Karnataka RERA. Now, they are liable to comply with RERA norms as their process of developing layout is incomplete. Only one society is registered under RERA till now, nevertheless this whole process will bring transparency and escalate the price. 18% GST will be levied on amount paid by the new owner of flat to the society on exchange of ownership.   ...

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Soon Mumbaikars will get MahaRERA tribunal

Monday 25th December 2017

  Maharashtra government has decided to form RERA (Real Estate Regulatory Authority) tribunal which will commence its operations in February 2018. Ongoing issues between buyers and promoters were attracting government attention from day one when RERA was formed.  Thus far, Bombay High Court was the sole authority where buyers could file their complaints against promoters, and vice versa. Henceforth, this appellate tribunal will be responsible to look into the matter regarding the RERA rulings. ...

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RERA gets its own central advisory council

Saturday 23rd December 2017

Good news for buyers has been spread as a wildfire in realty sector. Central government of India has constituted an advisory body for Real Estate Regulatory Authority, which is “Central Advisory Council (CAC)”. The main purpose for setting up this body is providing proper protection to customers (homebuyers) with the right implementation of RERA across the country. This body will have the “Minister of State for Housing and Urban Affairs as the Chairperson with other 30 members in total. A gazette notification mentioned that 8 members, who will be the part of council body, are from central government departments like; CEO of Niti Aayog, Secretaries of Ministry of Housing and Urban Affairs, Department of Revenue, Economic Affairs, Department of Industrial Policy and Promotion and Ministry of corporate Affairs. It will also consist of different Chairpersons of different states RERA like; Karnataka, Madhya Pradesh, Assam, Gujarat, Maharashtra. This council truly believes in preserving buyers faith in government system and this proves, as it consists Abhay Upadhyay, President, Forum for People’s Collective Efforts (FPCE) and Chairman of Federation of Apartment Owners’ Association who will represent homebuyers’ on the council. This forum  won’t leave representative of real estate brokers and construction workers behind. Five states which are Haryana, Odisha, Uttar Pradesh, Tamil Nadu and National Capital Territory of Delhi will be represented in this council through their representatives. The list cannot be completed without including the Managing Director of National Housing Bank (NHB) and CMD of Housing and Urban Development Council in the CAC. ...

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12th amendment in immovable property bill gets "LOK SABHA" nod

Friday 22nd December 2017

The Lok Sabha, on December 20, 2017, has passed a bill to amend the regulations governing compensation payable for acquisition of immovable property  by the centre, for defense and security purposes. The need, 12th amendment of the bill, was raised by the urban development minister Hardeep Singh Puri. This bill has the specific and limited purpose, which is to allow the centre to re-issue the notice of acquisition, in order to ensure that the property’s owner gets an opportunity to be heard. But this doesn’t mean that any old case is going to re-open in which the compensation is already being made. This bill will also help those out who are waiting for justice in forcible land acquisition case.  ...

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RERA-Karnataka will soon notify model sale deed

Sunday 17th December 2017

The Interim Chairman of RERA, Mr. Kapil Mohan said, the RERA Karnataka going to soon notify the model sale deed. He said, these days all the developers has their own sale deed. But now, the RERA Karnataka will prepare the draft of sale deed for all real estate projects. Mr. Mohan also said, usually sale deed are by the developers in which they never mentioned their carpet area of the flat but in the model sale deed it will be compulsory for all the developers to disclose their flat’s carpet area, along with mentioning all the penalties and interests on the homebuyers and developers. This model sale deed will make the stand of builder and buyers on the equal ground.   ...

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MahaRERA : ‘Landowner’ is equally liable as the ‘Builder’ to get the revenue

Monday 11th December 2017

The MahaRERA has made the landowner equally liable as the builder. The Authority has declared in his order issued on 4th December 2017 that the landowners equally liable are to getting the share of profit from the sold or advertised apartments or projects. The landowner is will be liable as a developer if they have taken the areas of a project and not cost.  In the order of 4th December, the Authority of MahaRERA said, “the ‘Promoter’ is a landowner, investor or a person who obtained the permission to construct the building.”  According to the records, nearly 4346 projects have already registered as ‘Co-promoter (landowner/ investor)’ but now after the issuing of this order they will know as ‘Promoter’ and their liabilities and duties will be as equal as the main promoter. ...

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Consumer Organization entreat CM for appellate tribunal

Friday 1st December 2017

The Akhil Bhartiya Grahak Panchayat, a consumer organization has urging the CM, Devendra Fadnavis in written to form an appellate tribunal for handling the RERA cases. The Organization has stated, the buyers and builders have to take their cases in High Court. Mr.Vijay Sagar, the president of the Organization said, the absence of appellate tribunal causing inconvenience to buyers. For admitting the case they have to pay higher charges and also have to face a delay in the hearing. “The citizen has to approach HC for appealing their case, they have to struggle for their rights,” he said. It has been seven months after implementing the RERA, but yet there is no establishment of the appellate tribunal for the citizens. It would be helpful to citizens to as soon implement the appellate tribunal for address the RERA cases, stated in a letter. ...

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Boost in RERA for NRI Investors in India

Wednesday 29th November 2017

The real estate sector has always attracted by the NRI investors. NRIs investing in residential and commercial properties and they get good value of their foreign currency in investing in properties of India. They also have to faced some issues like lack of transparency, delays in projects, unless updates from builders and much more. The RERA is implementing to be more attractive and transparent for NRI investors. RERA make some laws for motivating them like Mandatory to regular updating, Tracking of their project from any Country, for any change in the project the developers have to take permission of two-three allotees. These steps would eliminate the faults and NRIs investors would be more ensured about their investment. It would be make the realty sector more transparent and safe for buyers.       ...

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Violation of RERA Rules by Punjab Builders to Advertise Projects

Saturday 25th November 2017

In accordance to RERA act the promoters cannot advertise, marketing and sell their projects without RERA registration number and it is mandatory for all to advertise their projects with the registered RERA number. But, in Punjab many builders are prominently neglecting the rules and acts of RERA. Many builders advertising, marketing and selling their projects without the RERA registration number and most of the builders are also advertised their projects on FM radio but without the registration number. The Chairman of Punjab Rera, NS Kang said, we took an action against those builders whose advertisement will be spotted for violating the Rera rules and acts. Concerning about the FM radio advertisement he said, we are planning to advertise a notice for awareness about this issue. ...

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Notices Sent to More Than 160 Real Estate Developers, says Executive Director of H-RERA

Thursday 23rd November 2017

Mr. Dilbagh Singh, the Executive Director of H-RERA said, more than 160 real estate developers have been sent notices for having an invalid license and incomplete application.  According to him, 24 builders out of 160 developers were those, who were notified in the hearing if they didn’t complete their application in the valid time, their application would be rejected. The most of the complaints of homebuyers are delay in possession and extra charges levied by the builders. He also said , until January 15, 2018 for some of the homebuyers date have been fixed for hearing and remaining are in the process and the Haryana RERA website also may finally come in this year by December 31. ...

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‘Aadhar’ linkage with Property is mandatory-PM Modi’s Big Step to Fight against Black Money in Real Estate

Wednesday 22nd November 2017

After the big step of demonetisations, the PM Narender Modi’s next big step on Real Estate is to link “Aadhar” with properties because there is the heap of black money in immovable properties. It is informed by the Union Cabinet Minister that ‘Aadhar Linkage’ with property transactions would be made mandatory. Union Housing Minister Hardeep Puri Said, linking “Aadhar” with properties is such a great idea to draw up the black money from real estate and it would also help to crackdown the benami property, but yet now he is not going to make an advanced announcement on that because they take some additional steps towards it. According to Mr.Puri , transactions between two persons can’t be completely transparent but it could be monitored large value transactions such as property and air tickets.  ...

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MahaRERA Announces Co-promoter Equally Liable as Promoter in the project

Tuesday 21st November 2017

Last week, the Bombay High Court (HC) told, MahaRERA announces in his official order that Landowners (Co-promoter) equally liable as that of the Builders (Promoter) as under the Real Estate Act, 2016. MahaRERA declares in his order that the land owners as the co-promoter who executed the agreement with the builders (promoter) of a real estate project are entitled to share the total revenue that will be generated from the sale of apartments in the project or in the terms of constructed project.  ...

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UP Chairman says – “Registration process can’t be executed on the basis of super built up area”

Monday 20th November 2017

On Tuesday, The Chairman of UP-RERA, Mukul Singhal and principal secretary of housing & urban planning held a meeting with builders, buyers and officials in Noida Sector 6, for clear out the confusion over the carpet area issue. During the meeting, Mr. Mukul Singhal said that the projects should be done on the ground of the Carpet area and he will also discuss this issue with the officials of UP stamps and registration department. If the properties registration continues on the basis of the super built up area the buyers have the right to plead a file in the Allahabad High Court. For removing this flaws and executing RERA in UP more efficiently, the RERA has also started drafting “Agreement for Sale” for buyers and builders. ...

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Haryana RERA Website will only be live by December 31, says Executive Director of H-RERA

Friday 17th November 2017

The Executive Director of Haryana RERA committee, Dilbag Singh Sihag has recently said that the official website of the Haryana RERA Authority will be launched by 31st December 2017. On the formation of a proper RERA Authority, he informed that the Authority is in the final stage of its formation and will be made in the next 15 days.  The delay in the website will be a big disappointment for promoters as well as homebuyers of Haryana as they had been expecting the launch of the website by this month itself.   ...

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Loophole in the RERA Act to help real estate developers

Friday 17th November 2017

The Tamil Nadu Real Estate Regulatory Authority has reported a defect in the real estate Act that benefits builders against the provisions of the Act. The RERA Act makes it compulsory for the builders to deposit 70% of the amount received by homebuyers in a separate account. However, the TN RERA Authority informed that there is no mechanism to supervise the accounts of the developers yet. The only way RERA Authorities can interfere is when there is a complaint filed by homebuyers for misuse of funds against the developer.   ...

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Karnataka RERA Chairman warns of tough action on projects not registered with the Authority yet

Thursday 16th November 2017

Kapil Mohan, Chairman of Real Estate Regulatory Authority of Karnataka, addressed the state real estate developers in a workshop on Wednesday. He informed the builders of strict actions to be followed against promoters who have not registered their ongoing projects with the Authority yet. The builders of the state are unhappy about the huge penalties that have been imposed by the Karnataka RERA Authority. Until now, a total of 1,656 projects have been processed and around 730 projects have been approved by the Karnataka RERA Authority. Around 900 project applications are in the process of approval.  ...

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UP homebuyers claim builders are still not disclosing carpet area

Thursday 16th November 2017

The homebuyers in Uttar Pradesh have alleged that builders of the state are still selling flats on the basis of super area even after the implementation of the Real Estate (Regulation and Development) Act. The RERA Act does mention that from now onwards, carpet area must be declared for more clarity. Addressing the issue, the Chairman of UP’s RERA Authority, Mukul Singhal held a meeting with buyers and builders. He ordered the builders to transparently disclose the carpet area and follow all the provisions regarding the carpet area under the RERA Act.  ...

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Haryana CM assures to name the RERA Authority members real soon

Thursday 16th November 2017

Manohar Lal Khattar, Chief Minister of Haryana has said that the names of elected chairpersons and members of the RERA Authority of Haryana and Gurugram, will be named in a short time. The CM had in the past promised to make the RERA Authority of the state by October, which has been past due. There is no proper RERA Authority in the state of Haryana yet. A total of six months has passed now since the implementation of the Real Estate Act in the country. Haryana has been following an offline procedure to register projects and agents until the Authority is made.  ...

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Complaints are being rectified by Authority, says Chairman of UP RERA

Wednesday 15th November 2017

The Chairman of Uttar Pradesh’s Real Estate Regulatory Authority, Mukul Singhal, reported on Tuesday that the UP RERA Authority has received around 900 valid complaints and that they are being overlooked now. Mukul further said that the Authority started working on these complaints from 13th November and each of the complaints will be dissolved within a month and a half. Out of the total 900 complaints, more than 600 are regarding projects from the district of Gautam Buddha Nagar, UP.  ...

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More than 60% housing projects are delayed in around 50 cities in India

Tuesday 14th November 2017

According to survey and research by Liases Forras, the Non-Profit firm ‘Fight for RERA’ has reported that approximately 30% of under-construction flats are delayed by two or more years. Addition to that, nearly 62% of housing projects are running late. These surveys are for around 50 cities of the country. In Maharashtra itself, 5.3 lakh flats in ongoing projects are behind time.  ...

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Projects without an OC should not fall under RERA, say lawyers in Bombay High Court

Monday 13th November 2017

In the recent ongoing RERA Case, the lawyers from both the ends have appealed the court to amend the provision which makes it mandatory for projects that have given possession but without an Occupation Certificate should be registered under RERA. Estimated by a lawyer, such projects are at least 50,000 in Maharashtra itself, and registration of them all under RERA will affect the working of the Authorities for under construction as well as new launch projects. The lawyers have further suggested that these cases should be overlooked under the MOFA (Maharashtra Ownership Flat Act).  ...

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Rajasthan RERA will soon take action on project applications with incomplete documents

Monday 13th November 2017

The Real Estate Regulatory Authority of Rajasthan is set to act upon projects that have not provided complete details or documents in the registration application. The RERA Authority, Raj-RERA will send notices to these promoters, which are currently 200, and issue a final period of seven days to make the corrections, for which they’ll have to provide the complete documents or details along with the penalty payment. Otherwise, the project application will be rejected the registration and also the project will be stated ‘illegal’.   ...

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673 projects granted RERA Certificate by Gujarat RERA Authority so far !

Saturday 11th November 2017

The Gujarat Real Estate Regulatory Authority, GujRERA, has registered a total of 673 projects since the implementation of the Act in the state. The final notification of RERA rules was given by the Urban Development Department on 29th October 2016. The registrations were started in May 2017. The Gujarat RERA Authority is headed by Dr. Manjula Subramaniam. In addition to this, the state RERA Authority has also registered around 280 real estate agents.    ...

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Opposition Leader in Haryana advices CM to appoint clean officials for RERA Authority

Saturday 11th November 2017

Abhay Singh Chautala, the leader of opposition party INLD in Haryana has recommended the current Chief Minister, Manohar Lal Khattar, to not elect ex-officials who have been in controversies surrounding land deals in Haryana for the post in RERA Authority. The Government of Haryana has already shortlisted four members for the posts of two chairpersons for RERA offices in Gurugram and Panchkula. These names have been picked by a special committee of a high court judge and principal secretary of Town and Country planning.  ...

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Real Estate community of Mangalore criticizes penalty conditions in the Karnataka RERA Act

Saturday 11th November 2017

In a recent workshop at CREDAI Mangalore, the real estate developers have opposed the penalty provisions of the Karnataka RERA rules regarding the delays of projects. In case of unavoidable delays like late approvals of certain documents by government or water crisis that occurred the previous year, the construction was put on hold. All these factors were not taken into account while notifying the final rules of the Act. This forced the then ongoing projects to register with RERA from May, this year. Further, homebuyers can complain against any builder for delayed possession, which will result in additional penalties on the developers of the project.  ...

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CREDAI president praises implementation of RERA by Maharashtra

Saturday 11th November 2017

The National President of CREDAI (The Confederation of Real Estate Developers Association of India), Mr. Jaxay Shah, has recently commended the efforts of Maharashtra Government as well as the Real Estate Regulatory Authority of Maharashtra, MahaRERA, for its timely implementation of the Real Estate Act while comparing the status of the Act in other states of the country. Addressing the ‘New India Summit’, he added to his comments that, while other state governments are taking long to implement the Act, Maharashtra has not faced any such problem since the beginning of the Act.  ...

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5.5 lakh flats delayed possession by builders in Maharashtra

Friday 10th November 2017

Over 5.5 lakh flats in Maharashtra has been delayed possession by the real estate developers. These figures were introduced by the Centre in Bombay High court in order to prove the need and validity of the Act. Around 10% of these flats are delayed by 5 years or more. The RERA Authority of Maharashtra, MahaRERA, has so far disposed of 110 complaints, majority of which have been against builders for delays in possession of flats. The few homebuyers of the state have also got compensations with the help of the RERA Authority.  ...

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Jharkhand RERA website launched !

Friday 10th November 2017

The Real Estate Regulatory Authority of Jharkhand, which is responsible for RERA registrations in the state, has launched its official website this early week. The Authority will be processing applications of all promoters, projects and real estate agents received over the website and will provide the RERA Certificate within 30 days. The RERA Authority is currently headed by Shri Arun Kumar Singh, who is the Principal Secretary of Urban Development and Housing Department, Jharkhand. The Authority website also enables homebuyers to file complaints.              ...

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RERA can also help in cases with unregistered properties, says MP RERA Chairman

Thursday 9th November 2017

Speaking at a seminar in Indore, the Chairman of Madhya Pradesh Real Estate Regulatory Authority, Anthony De Sa, said that the advantage of RERA is not only limited to cases with registered projects, but RERA can also help homebuyers to fight against projects without registration with RERA. In favor of the Act, he further added that transparency and equal opportunity for all is the main objective of the Act, and its implementation ensures proper regulation.  ...

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RERA is administrative like SEBI, TRAI and RBI : Homebuyers in High Court

Thursday 9th November 2017

In the recent hearing on Tuesday in the Bombay High Court for case filed against RERA, the senior counsel Shiraz Rustomjee, who was responsible for representing homebuyers in the Court said, ‘RERA as a regulatory body carries out administrative as well as legislative roles similar to the bodies like SEBI (Securities and Exchange Board of India), TRAI (Telecom Regulatory Authority, of India) and RBI (Reserve Bank of India). The Forum for People’s Collective Efforts, a non-profit company was present on Wednesday’s hearing in the High Court.    ...

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Haryana RERA issues notice to 140 builders for not registering under RERA

Wednesday 8th November 2017

The Haryana Real Estate Regulatory Authority, H-RERA, has sent out notices to 140 builders of the state for not registering with RERA until now. The Authority has received around 600 applications for registration of ongoing projects for the entire state. Out of which only 340 projects have been granted their RERA certificate. The Authority of H-RERA does not have an operating website for registrations yet, which seems to be the main issue for builders in registering with the RERA Act. The registrations in the state are only offline where builders have to physically submit their documents in Panchkula, Haryana. ...

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Bombay High Court takes stand with the Real Estate Act in the recent hearing of RERA case

Tuesday 7th November 2017

Bombay High Court bench on Monday stood in support of the validity of the Real Estate (Regulation and Development) Act by stating and clarifying some of the provisions of the Act to the developers who filed petitions against the Real Estate Act in Mumbai.   In a petition filed against the provision of the Act stating the penalty for builders on missing the possession date, the Advocate General appointed said that the interests payable by builders will act as similar to the ones that homebuyers need to pay on the failure of payment of installments. Also, when a builder is unable to complete a project in future, the RERA Authority, for example, MahaRERA, will have the power to appoint a new builder in order to complete the project. The Bombay High Court was resuming the hearings on petitions filed against the RERA Act.  ...

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Builders in Maharashtra shortens completion deadline of projects due to pressure from MahaRERA Authority

Monday 6th November 2017

A couple of builders in Maharashtra agreed to change their project deadlines and pull them closer as to what was initially put while registering with the RERA Authority. Recently, in a complaint filed by buyers against a builder for a refund of the booking amount due to the completion being too long, the builder agreed to bring the completion closer. The promoter of project ‘Ektaworld’ was directed to change the completion deadline from 30 June 2020 to 31 October 2018. In a similar case, the promoter of the project Neptune Eleve was directed to change the possession date from 31 December 2025 to 31 December 2020. ...

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‘RERA is a beneficial law’ - Center defends the Real Estate Act in High Court

Thursday 2nd November 2017

In the argument on a petition filed against the validity of RERA, the Union Government backed the Real Estate (Regulatory and Development) Act by saying that the Act is beneficial for both the real estate developers as well as the homebuyers. Further supporting his statement, the Additional Solicitor General Anil Singh said that the Parliament passed the bill only after proper consideration of the necessity of the Act to protect the interests of homebuyers of the Country. The hearing took place before a bench of Justice Naresh Patil and Rajesh Ketkar. The petitions filed against RERA are being heard by the Bombay High Court on a daily collective basis.  ...

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Haryana RERA Authority still not formed, misses deadline set by Chief Minister.

Wednesday 1st November 2017

In the last statement made by the Haryana CM Manohar Lal Khattar on RERA, he announced that the RERA Authority of the state will be formed by October. But however, the state government has not yet formed the RERA Authority. The Authority is in the process of formation and the Chairman of H-RERA Authority will most probably be elected by 4th November. The Authority now can only be formed latest by November-end. Until now, Haryana has received around 600 applications for registration of projects and 570 applications for registration of Agents. Out of these, 338 projects and 540 real estate agents have been granted the RERA certificate. ...

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The First hearing on petitions filed against RERA held in Bombay High Court

Tuesday 31st October 2017

The Bombay High Court on Monday started with the hearings on the petitions filed by real estate developers of the Country against the validity of few provisions of the Real Estate Act. The provision of the Act that makes it mandatory for builders to register on-going projects has been challenged along with other provisions of RERA. The Builders and landowners who have filed these petitions are seeking amendments in the Act to make it less complicated and burdensome for the real estate developers in the Country. However, buyers Associations of the country are expecting an order favoring the homebuyers. The remaining petitions will be heard by the Court throughout the week.  ...

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Authorities not to take action on complaints filed against Unitech Limited: Supreme Court

Monday 30th October 2017

The Supreme Court has recently informed Courts as well as RERA Authorities to refrain from taking stern actions against complaints filed against the real estate developer Unitech Limited. The Supreme Court on Monday, ordered the Real Estate group to deposit Rs 750 Crores by the end of December, and only then the Court will consider granting bail to the Managing Director Sanjay Chandra. The Unitech Limited owes a total of Rs 1,865 Crores to homebuyers for refunds, as buyers have turned their decision for possession of the flats.  ...

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Karnataka RERA concludes first complaint, builder to refund booking amount of Rs 9 lacs to buyer

Saturday 28th October 2017

The Real Estate Regulatory Authority of Karnataka has recently issued the first judgment on one of the complaints filed by a homebuyer against a builder for refund of the booking amount. The Authority on hearing both the builder as well as the complainant, disposed of the complaint as both the parties agreed to settle the dispute amicably. The builder accepted to refund the booking amount of Rs 9 lacs to the buyer. The Authority, in the notice, also informed that they are following up on complaints that are filed to them and will soon start to dispose them as well.  ...

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RERA rules to appoint Regulatory Authority notified in Goa

Friday 27th October 2017

The State Government of Goa has notified the rules for the Real Estate (Regulatory and Development) Act to form the RERA Authority for carrying registrations in the state. There had been a lot of hurdles in notifying the provisions of the Act as the builders and buyers were both worried about the modification of the Act to favor one or the other community. These rules, notified on Thursday, 26 October 2017 empower the state government for the formation of the Authority so as to proceed with the registrations of promoters as well as agents.  However, the final RERA rules for the state are yet to be notified by the state. The rera deadline has now been set at December 31, 2017, against the previous one of 31 October.   ...

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Slow pace of Karnataka RERA Authority is a big issue for real estate developers

Friday 27th October 2017

The Karnataka Real Estate Regulatory Authority, responsible for RERA registration all over the state has been remarkably slow in its operations since the implementation of the Act. This has rose to be a big problem for the real estate developers of the state as the Authority is taking too long to issue rera certificates to promoters as well as agents.  In some of the cases, the Authority has taken more than 30 days to produce the certificate, which violates the provisions of the RERA Act to provide RERA certificates within 30 days of application. Out of a total of 1,600 applications, the Authority has only registered 600 projects until now.  ...

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Minister of Housing agrees with dilution of RERA rules by states

Thursday 26th October 2017

Hardeep Singh Puri, Minister of State (Independent Charge) in the Ministry of Housing and Urban Affairs, in a recent interview addressed the status of RERA in the country. Talking about the real estate Act, he said that this has been the first Act of its kind where the country has got a regulator for the real estate sector in all respective states. The dilution of the Act by few states is being looked upon by the ministry and will soon act upon the same. The minister also gave remarks on how the Prime Minister, Narendra Modi has contributed to the Indian Real Estate with his schemes like Housing For All, Pradhan Mantri Awaas Yojna and smart cities.  ...

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RERA Authorities should direct all builders of delayed projects to pay interest to allottees at once

Thursday 26th October 2017

The Mumbai Grahak Panchayat in a recent letter written to the Maharashtra RERA Authority, MahaRERA, has demanded that the Authority should order builders of projects with delayed possession to pay interests to all the allottees. The representative from MGP said that the intent of introducing RERA was to penalize such developers without causing further troubles to the homebuyers. Whereas, since the implementation of the Act, homebuyers have been approaching the Authority individually by complaining against such builders. The Maharashtra RERA Authority has received more than 1300 complaints and most of the complaints seem to be from homebuyers struggling to get possession of their homes.  ...

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Buyers in Uttar Pradesh protest against builder for delaying possession

Wednesday 25th October 2017

The Allottees of the project Sushant Golf City in Lucknow protested against the builder, Ansal Properties and Infrastructure Limited over the delayed delivery of the project. The project has been under construction for around last 10 years and is still incomplete. As the project was ongoing, it had to register with RERA this year and while registering with the Authority, the builder seeks 8 more years for completion, which made all the buyers furious. Notably, this was not the first protest against the builder and its project. Numbers of investors have protested against Ansal API over the years for delays. While protesting at the builder’s office in Lucknow, the allottees demanded of early delivery of the project and also seek interference from the RERA Authority of Uttar Pradesh.  ...

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Homebuyers group seeks help from PM Modi regarding delays in projects

Monday 23rd October 2017

A nationwide homebuyers group has urged for intervention from PM Narendra Modi to prevent buyers from paying loan EMIs for projects that are delayed. The group wrote the letter to the Prime Minister addressing the issue which concerns all buyers throughout the country who have bought homes with loans. There have been a lot of cases where builders had delayed the projects, which caused the buyers to continuously pay the loan EMIs to the banks until the final delivery of the project. The Homebuyers Association has advised the PM to stop banks from collecting the EMIs from buyers whose projects have been delayed, and make the builders stand responsible.  ...

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Flat handover delay cases on a rise in Maharashtra, number of complaints to the Authority crosses 1300!

Wednesday 18th October 2017

Homebuyers in Maharashtra are furious as numbers of delays of flats by the builders are increasing day by day. With the help of RERA, the buyers are able to complain to the Authority, where complaints will be disposed within 60 days, but there are also cases where builders have not yet registered with RERA, which unable the homebuyers to complain against such builders. The Authority of MahaRERA has also disposed of some complaints where buyers have been favored heavily. This has encouraged other homebuyers to file complaints to the Authority as well.   ...

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Government further extends RERA deadline to December 31 in Goa

Tuesday 17th October 2017

Due to the complications in notification of final rules of the Real Estate (Regulatory and Development) Act, the registration deadline in Goa has been further dragged to 31st December 2017. This is the second time that RERA deadline has been extended by the government, first being shifted to 31st October 2017. The builders of the state are furious as due to the Act’s provisions, they are not allowed to advertise their projects unless registered. The real estate agents are also restricted from dealing in projects that are not yet registered with RERA. According to the RERA Act, the original deadline for registrations was set at 31st July 2017.  ...

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Maharashtra state government can amend RERA rules to benefit buyers

Tuesday 17th October 2017

Prakash Mehta, the State Cabinet Minister for Housing Department has recently said that the state can amend the rules of the Real Estate (Regulatory and Development) Act if the builders as well homebuyers insist on doing so. He further added that certain provisions of the Act can be modified or changed to make it more favorable to the homebuyers. In the past, there have been some buyer associations complaining that the Act has been diluted by the Maharashtra state government in such a way that it benefits builders more than the consumers. With these recent remarks of the state’s Minister of Housing Department, it is possible that we see some changes in the rules of the Act soon! ...

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Homebuyers will be able to file complaint against builders not registered with RERA, says Haryana CM

Monday 16th October 2017

With the progress of RERA Act in Haryana in full blow, real estate developers and homebuyers are looking for some modification in the Real Estate Act’s rules. Homebuyers of the state are calling on the Authority to also take responsibility of the projects that do not require rera registration. The need for such action is because currently the Act does not allow homebuyers to complain against builders that do not lie under RERA. The CM of Haryana, Manohar Lal Khattar, speaking on the same issue, said that buyers will be able to file complaint against builders that are not registered with RERA to the Haryana RERA Authority. The Haryana RERA Authority is still in formation and can be set up by early November, this year. The registrations in state are offline as there is no website yet. A total of around 500 project applications have been received and 185 have obtained the certificate. Also about 300 real estate agents have registered in Haryana till now.  ...

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Maharashtra Builder ordered to refund Rs 1.94 Cr with interest to homebuyer, by RERA Authority

Monday 16th October 2017

The Maharashtra RERA Authority, MahaRERA has made a massive judgment on one of the complaints filed against the builder Runwal Homes. The builder has been instructed to refund back Rs 1.94 Crores to the homebuyer with interest. This has proven to be the biggest setback to any builder until now. The Homebuyers who had already paid 97% of the total amount were supposed to receive the flat in 2016, which got delayed. The builders proposed a completion date of December 2019 with the RERA Authority, following which complaint was filed by the homebuyers. Taking all the facts into consideration and the delay of almost three years, the Authority decided to go in favor of the complainants. However, the builder has also stated to challenge the order of Authority in High Court.  ...

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State owned housing Development Agencies will have to register with RERA in Karnataka!

Friday 13th October 2017

Putting a stop to all the complications surrounding registrations of projects of state-owned housing Development Agencies in Karnataka, the Karnataka law Department has clarified that all the Authorities will have to register their projects with Karnataka Real Estate Regulatory Authority as soon as possible. This includes ongoing projects of Bangalore Development Authority and Karnataka Housing Board. In the recent past, these state-owned Authorities were seeking exemption from RERA, but now the commissioners of both the Authorities have agreed upon registering the projects and will also proceed with the same at the earliest.  ...

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Read how this Non-profit Company might represent all homebuyers for complaints with RERA across India!

Thursday 12th October 2017

Homebuyers Association ‘Fight for RERA’ has recently formed a non-profit Company which will help all homebuyers, who want to or have already filed a complaint against any builder or agent, represent themselves in the RERA Authority. Forum for People’s Collective Efforts (FPCE) will hugely benefit all as the process of concluding complaints is complex. The Association has also filed an Application to the Bombay High Court on approval of which, they will be authorized to become a party representing homebuyers in complaints across the country.   ...

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UP RERA Authority directs Vice Chairmen of Development Authorities to close complaints

Thursday 12th October 2017

The Real Estate Regulatory Authority of Uttar Pradesh has assigned Vice Chairmen of seven Development Authorities to conclude complaints filed to the RERA Authority by homebuyers. The Authority has also given a deadline of two months to the concerned persons. The State has been divided into several divisions by the UP RERA Authority and the complaints will be assigned to the Development Authorities according to the same. Complaints related to Ghaziabad Development Authority will be dealt by the Chairman of UP RERA.  ...

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Karnataka RERA issues heavy penalty on promoters!

Saturday 7th October 2017

The RERA Authority of Karnataka has recently issued a notice regarding penalties that will be imposed on all the promoters of ongoing projects for delayed registrations. Penalty for August, September and October has been provided by the Authority separately. Following are the dimensions of the penalty which will be in addition to the regular registration fees: August – 100% of the registration fees September – 200% of the registration fees October – 300% of the registration fees For more clarity, ongoing projects with a registration fee of Rs 10,000 registered in the month of August will have to pay Rs 10,000 extra as penalty, bringing the total fees to Rs 20,000. Similarly, the same promoter will have to pay a total fees of Rs [10,000 + Rs 20,000] in September and Rs [10,000 + 30,000] in October. This will be a big blow to all the real estate developers in the state and will enforce all promoters of ongoing projects not registered to register at their earliest.    ...

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Karnataka government to provide rules on Agreement for Sale

Saturday 7th October 2017

The Karnataka Government will soon notify the rules on the Agreement for Sale which will protect the rights of homebuyers and ensure them of proper deliveries of their homes. The real estate developers of the state had been waiting for the final rules for the Agreement as it was difficult for them to convince buyers to purchase homes without the updated Agreement for Sale. The Agreement will also ensure that the said amenities are provided by the builders and compensation is provided if there is a delay in delivery. The secretary of Karnataka RERA also informed that the final rules for the Agreement will be sent to the law department for approval this week.  ...

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Haryana RERA website will be launched after 2-3 months !

Friday 6th October 2017

The Real Estate Developers in Haryana are clearly in more trouble as the RERA’s official website will at least take up 60-70 days to get operational. The Executive Director of Haryana RERA Committee informed that the RERA portal will also have a grading system for the records of promoter’s activities in the state, including timely deliveries.  The absence of a proper RERA Authority in the state has already left all the promoters and agents clueless on how to carry operations without being registered with RERA. While other state Authorities have already started to dismiss off complaints by homebuyers, most of the people in Haryana don’t have any idea on how to complain.  ...

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Gujarat RERA imposes penalty on promoters !

Wednesday 4th October 2017

The Gujarat RERA Authority has issued a notice to the promoters registering their projects in the state. The Authority has doubled the registration fee as a penalty for all the project registrations for the month of October 2017. The amount of penalty will be equal to the registration fee for registration, which will enforce the promoters on paying double the registration fees. This penalty will be further increased for the month of November. Projects registering in the month of November will have to pay a registration fee three times to that of the original fees.  ...

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Maharashtra consumer body reaches out to Centre to amend RERA rules !

Tuesday 3rd October 2017

Mumbai Grahak Panchayat is seeking help from the Central Government to amend rules of the recent RERA Act in the state of Maharashtra. The Act has barred the projects lacking the possession of approved sanctioned plans from registering with the RERA Authority. The Authority has taken such a step as there were a lot of cases in which the projects had not yet obtained the approved plans which were required before registering with RERA. However, the consumer body is complaining as this step will be an escape route for the builders and will encourage the delays of delivery of projects.   ...

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Complaints in Maharashtra RERA reach 600!

Thursday 28th September 2017

It looks like homebuyers in Maharashtra are furious and can’t stop complaining to the Authority about their problems. The number of complaints has now crossed 600 and are increasing rapidly with the passing of each day ! The filing of complaints saw a significant increase since MahaRERA announced their first order in favor of a homebuyer and penalized the builder. The homebuyers of the state are looking to get their dues with the help of the Authority. To file a complaint to the MahaRERA Authority, there is a compulsory fee of five thousand rupees ! The fee for complaint is remarkably more compared to the fees charged by other RERA Authorities. However, the MahaRERA Authority is also disposing the complaints at a much greater pace than other state RERA Authorities.  ...

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Central Advisory Council to help in implementation of RERA pan-India.

Tuesday 26th September 2017

The Centre is forming a 31-member advisory Council to ensure better implementation of the Real Estate (Regulatory and Development) Act across the country. The Council is expected to include secretaries from ministries, state representatives and other notables from the real estate sector. The Council will guide the Central government on all the matters regarding RERA in different parts of the country. It will also overlook the status of implementation of the Act. Notably, states like Goa, West Bengal and Arunachal Pradesh still lack implementation of the Act.  ...

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MahaRERA chairman says most of the projects now registered with RERA.

Monday 25th September 2017

The Chairman of Maharashtra’s RERA Authority, Gautam Chatterjee, speaking at NARDECO’s summit announced that most of the ongoing projects in the state of Maharashtra are now registered with the Act. Giving out some actual figures, he said, the Authority has received applications for ongoing types of approximately 13,000 projects. 400 applications have been received for new project registration. Out of the total 13,400 applications, MahaRERA has already provided certificates to 13,300 projects. The Authority has also started to dispose complaints filed with them. ...

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After 2 months of RERA in state, Karnataka gets 80 complaints.

Monday 25th September 2017

The Real Estate (Regulatory and Development) Act was implemented in May 2017. The Act was delayed and was implemented in Karnataka in the end of July. The Authority launched the website on 24th July and saw a good response for registrations of both real estate agents and promoters. Also there were complaints lodged by homebuyers to the Authority for projects that lacked timely deliverance. There have been a total of 80 complaints in the state, mainly for Bangalore. However, the numbers are still low compared to the amount of complaints that have been received by other state Authorities. The Authority needs to dispose the complaints within 60 days of the filing of a complaint, which is yet to be done by the Authority.      ...

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Goa Govt leaves developers hanging, yet to notify final rules.

Wednesday 20th September 2017

The Goan government has been really slow in implementing the Real Estate (Regulatory and Development) Act. The RERA Act was implemented in the Country from May of this year, following which many states observed its proper regulation whereas, other states lacked the presence of Regulatories. Goa was one state which extended the deadline for registrations even before the final notification of the rules. Now with only 40 days left for the deadline, the cabinet has still not produced the final notification of the rules which has left all the developers of the state wandering.   ...

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RERA puts realty sector on hold in Odisha.

Thursday 14th September 2017

The Real Estate (Regulatory and Development) Act has been on a roll throughout the country since its implementation in May earlier this year. However, there are some parts of the country which still lack the presence of the real estate Act. One of them is Odisha, where the industry has been strongly hit due to poor implementation of the Act. There has been no guidance for promoters and brokers in the state about the Act. As there are no projects with RERA number, promoters are unable to advertise leaving the businesses in trouble. The president of CREDAI Odisha, DS Tripathy also raised his concern over the Real Estate Industry’s situation in the state speaking at a press conference.                  ...

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MahaRERA settles another complaint, this time against Lodha group.

Wednesday 13th September 2017

MahaRERA, on Tuesday released the final order for another complaint which was filed against the real estate developers, Lodha group. The complainant, from Maharashtra had booked a 2BHK flat in the builder’s project named, Ultima. The complainant further cancelled the booking and requested the builder to refund the booking amount, which was in this case Rs 1,08,000. The builders however did not return the amount and the homebuyer had to file a complaint to the Authority for same. On Appearing in the court, Lodha Group agreed upon refunding the money back to the buyer. The complainant on receiving the amount did not wanted to take the case further and thus the MahaRERA Authority disposed off the complaint in favor of the homebuyer.   ...

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Projects registering in September to pay minimum Rs 2 lakh penalty in Maharashtra!

Saturday 9th September 2017

MahaRERA on Friday issued an order regarding the conclusion of the Meeting held for deciding the penalties on applications received after 16th August 2017 for ongoing projects. The Authority has decided to keep the penalty amount same for the project applications between 16th August and 31st August. However, the amount of penalty on ongoing project registrations from September onwards will be twice as much of the previous amount, i.e., Rs 2 lakhs or an amount equivalent to double the registration fee, up to Rs 10 lakhs. Around 800 ongoing project applications have been received between 16th August and 31st August, which will have to pay a minimum Rs 1 lakh penalty and about 54 applications of ongoing projects have been received since the beginning of September, which are required to pay double penalty.  ...

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MahaRERA chairman urges different RERA Authorities to work together.

Saturday 9th September 2017

Gautam Chatterjee, chairman of the Real Estate Regulatory Authority of Maharashtra, has advised the RERA Authorities of different states to cope together with the problems arising in the real estate sector. Pointing specifically to the Jaypee’s case of insolvency, he said that Authorities together need to find solutions to the problems which block the RERA Act to protect consumer’s rights. Speaking at a press conference in Mumbai, Chatterjee also gave an account of the complaints that have been received by the MahaRERA Authority and how they will ensure justice to homebuyers of the state.   ...

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Karnataka promoters to be fined for delayed registrations !

Saturday 2nd September 2017

The Karnataka RERA Authority has issued notices to more than 300 promoters of the state for not registering with the Real Estate (Regulation and Development) Act. The Authority will provide the builders with a limit of seven days to mention the valid reasons for their delay in registering. The penalties then imposed can be as high as 10% of the project cost. Around 1,100 project registrations have been applied, out of which the Authority has only approved mere 12 projects. ...

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Maharashtra tops all states in RERA registration.

Friday 1st September 2017

Maharashtra, with the help of the stiff rules of the Authority, MahaRERA, has topped the numbers of registrations of the Real Estate (Regulation and Development), Act in the country. The state RERA Authority has been strict ever since the Act was implied in May, earlier this year. There have been approximately 13,000 ongoing projects registered till now in the Maharashtra state, against the total 18,000 in the country. MahaRERA was also the only Authority to directly fine charges after 31 st July, 2017 without extending the deadline. There have also been 55 complaints filed by the real estate buyers of the state until now. ...

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Haryana-RERA gets more than 500 project registrations in a month.

Tuesday 29th August 2017

Haryana notified the final rules of the Real Estate (Regulation and Development) Act on 28 th July 2017, just three days prior to the deadline for project registrations. However, the deadline was extended to an unspecified date as no penalties were imposed on the projects registering thereby. A total of a little more than 500 projects have registered with the Haryana RERA Authority since its implementation last month, out of which only 90 have been approved. Also a total of 100 complaints have been filed by the homebuyers with the Authority. Notably, all the process in Haryana is only offline until now as there is no official website of the Authority, unlike other states. ...

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The Petition to move all cases against RERA to a single court filed.

Tuesday 29th August 2017

The Ministry of Housing and Urban Development has filed a petition to the Supreme Court of India to shift all the cases against the Real Estate (Regulation and Development) Act to a solo court. There are approximately three dozens of such cases scattered across different states ofthe country. Most of the cases against the real estate Act have been filed due to the issue regarding the involvement of ‘ongoing projects’. The builders want the exclusion of the projects from the Act that had started before its existence. The Real Estate (Regulation and Development) Act had been imposed in the country from May 1, 2017. ...

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MahaRERA database shows delivery of most homes to be delayed.

Friday 25th August 2017

A study conducted by Knight Frank, an international property consultant chain, on the data of Maharashtra’s RERA Authority revealed that at least 50% of the real estate developers have extended their project deadlines by a year or ahead, while registering. This is bound to make the homebuyers of the state anxious as there can be no legal action taken on such grounds as of now. The reason for the promoters to extend their end dates of the project way ahead, is to avoid delaying the delivery of the projects, as it is going to attract huge penalties. Not only in Maharashtra, but projects that have registered with the state authorities pan India has taken a marginal extension to the deadline for avoiding the delays, which is going to cause buyer-developer disputes in the near future. ...

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Rajasthan finalizes penalty on projects not yet registered with RERA.

Friday 25th August 2017

The officials from the Rajasthan RERA Authority and the Jaipur Development Commissioner in a meeting held on Monday, has decided the penalty that will be imposed on the promoters who have missed the deadline, set as 31 st July 2017. The projects registering till 31 st August will have to pay a registration fee, four times to that of the previous one. The registration fee is categorically divided among the state, which makes it complex for the builders to understand as to how the implementation of the fine will proceed. The officials also reported that the penalty will further be extended for the promoters not registering within the extended deadline. ...

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Himachal Pradesh RERA website launched !

Tuesday 22nd August 2017

The official online portal for registrations of promoters as well as builders under the, Real Estate (Regulation and Development) Act, in Himachal Pradesh was launched by the Honorable Chief Minister Sh. Virbhadra Singh, today. As the deadline for the registrations of projects have already passed, the Authority is expected to provide a months time to all the promoters of the state to get on board with the Act. The website will also enable the buyers to lodge a complaint against the untimely delivery by the real estate developers. ...

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MahaRERA sets an ultimatum, registrations after August 31 to face serious actions.

Saturday 19th August 2017

According to an official of the RERA regulatory authority of Maharashtra, the MahaRERA Authority, which is in charge of registrations in the state of Maharashtra, is set to take some severe actions against the realtors who would have not registered with the RERA Act by 31 st August, 2017. The projects registered in August have already faced penalties for delayed registrations, but with the end of the month of August, any ongoing project sans registration will be dealt with stern consequences which might also include legal charges. ...

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CREDAI reaches out to PM Narendra Modi, RBI to head RERA in right direction.

Friday 18th August 2017

The Confederation of Real Estate Developer’s Association of India (CREDAI), has attempted to get the Prime Minister’s supervision towards the most critical issue of the real estate industry at present, the Real Estate (Regulatory and Development) Act, which came into force in May this year. The Association has also asked Reserve Bank of India for it’s guidance on the same issue. After taking the account of the status of the newly introduced Act, it was necessary for the Association to do so as most of the states have delayed the implementation of the Act and others don’t have proper Authorities for the same. ...

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RERA to be the focal point of NAREDCO 14th National Convention.

Friday 18th August 2017

National Real Estate Development Council (NAREDCO) is the apex body of real estate sector, under the aegis of Ministry of Housing and Urban Affairs, Government of India. It is holding the 14th National Convention on “ Indian Real Estate” in New Delhi. The two-day event will beattended by the giants of the real estate sector of India. The highlight of the event will be the effects of RERA on the real estate industry. The other important discussions will be about post demonetization and GST impact on the sector. ...

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Extended RERA deadline in UP ends, fine on registrations from now.

Thursday 17th August 2017

The Uttar Pradesh’s RERA deadline for promoter registrations have to come an end, and there will be a categorized increasing penalty on all the projects registering now onwards. The penalty will be increased with a gap of every fifteen days to 1%, 5% and 10% respectively. The website has already faced some backlash over it’s sluggish working, which might compel the Authority to think upon further extension or modify current fines. ...

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London convocation of CREDAI members outshined by RERA issue.

Wednesday 16th August 2017

The Confederation of Real Estate Developer’s Associations of India held a convocation of its members in London this past week considering the future of India’s Real Estate Industry. The discussion was held regarding the opportunities and scope of the Real Estate sector in Indian as well as foreign markets, especially Britain. However, the most talked-about issue came out to be the newly imposed Real Estate (Regulation and Development) Act. The main concern was the lack of clarity that the Authorities have provided to the Real Estate Developers and the definition of ‘ongoing’ projects stated in the Act. The delegates demanded that there should be more clarity on the ongoing project registrations and the deadlines to be made flexible. ...

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MahaRERA declares penalty for projects registered after 2nd August !

Friday 11th August 2017

Maharashtra RERA Authority, MahaRERA, has announced the penalized amount for the projects that were registered on and after 3 rd August 2017 with the concerned Authority. There will be an imposed fine of minimum Rs 1 lakh which can go up to Rs 10 lakhs depending upon the size of the project, whichever comes to be bigger. This penalty will also remain valid for registrations done till 16 th August. Applications collected after that will be heard individually by MahaRERA, which will decide the penalty accordingly. ...

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Builders can only advertise after registering with RERA, says Tamil Nadu government.

Friday 11th August 2017

With the beginning of RERA registration in the state recently, Tamil Nadu government is trying to secure that all measures are taken care of and leave no stone unturned. With a late start to the registrations, the builders have already been worried for the deadline. The restriction on advertising will force all the builders to get registered with TN RERA as quick as possible. After successful registration of the projects, the builders will also have to put their registration number, provided by the Tamil Nadu RERA Authority, on the future advertisement releases. ...

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States which diluted RERA rules will have to redraft them again !

Friday 11th August 2017

A Parliamentary Committee has instructed The Ministry of Housing and Urban Affairs to look after the states who have diluted the Central’s RERA guidelines and direct them to revise the rules. This comes after states like Uttar Pradesh had diluted the RERA rules which made an escape route for the real estate developers and eased their way out. If the ministry follows Committee’s instructions thoroughly, it can make a huge impact on all the existing State RERA Authorities as well. This will also give a clue to other states to notify RERA rules carefully, who have not yet notified them. ...

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Consumer Associations demand bigger penalties for delayed registrations in Maharashtra.

Thursday 10th August 2017

Maharashtra RERA Authority, MahaRERA has been the only RERA Authority in the country to withstand its deadline and impose fines as well on the defaulters. The authority imposed a penalty of Rs 50,000 on projects registered within two days after the deadline, i.e, 1 st and 2 nd August, 2017 and will declare the penalty for projects registered on and after 3 rd August. The activists in Maharashtra are, however, not satisfied with the proportion of fine allocated by the state RERA Authority and demand much larger penalties to set an example for other states, as well encourage registrations by agents more quickly. ...

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Tamil Nadu gets RERA website, receives lukewarm response.

Thursday 10th August 2017

The Tamil Nadu Real Estate Regulatory Authority (TNRERA) got an unenthusiastic response on its official portal for RERA registration in the initial phase. The Authority collected only 55 registration applications for agents and issued five with the registration number. The rules were notified by the state government of Tamil Nadu on 22 nd June and took more than a month to bring the RERA portal to existence. The fees for Agent registrations in the state is Rs 25,000 for individuals and Rs 50,000 for other than individuals. The license will be valid for a period of 5 years, following which a renewal will be required. ...

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The Government might make Aadhar compulsory for buying property.

Thursday 10th August 2017

The Central Government has already shown their concern well in the Real Estate sector by implementing the Real Estate (Regulatory and Development) Act and are eying to make some more powerful decisions in the coming future to improve the buyer’s experience in the industry. The government is recently trying to make the Aadhar mandatory for buying property, which will help to link the number of properties an individual has registered on his name. This will bring transparency and also help to maintain proper records of the buyer. ...

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Real estate stocks suffer steep fall due to delayed implementation of RERA.

Wednesday 9th August 2017

Nifty Realty Index saw a drop in the realty stocks, which is the result of slow-going procedure for RERA registrations in many states and also the recent decision of the banks to not provide the builders with loan unless registered with the Act. The shares of HDIL, DLF, Delta Corp were among others affected by the lack in timely implementation of the RERA Act. More than 10 states are yet to notify the endmost rules, while the deadline for the same has ended. ...

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Post-RERA deadline, Maharashtra CREDAI to organize session on RERA awareness.

Wednesday 9th August 2017

CREDAI, Confederation of Real Estate Developers Associations of India, Maharashtra, will be hosting an event alerting about the RERA registrations post the deadline. They are also expected to address the registrations for new projects in future and the procedures or restrictions relating the same. CREDAI-Maharashtra is flagship organization of all the Associations of Builders and Developers of Maharashtra encompassing over 75% of the organized Real Estate Sector in the State except Mumbai. ...

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More than 1,000 projects registered with MahaRERA after the deadline.

Saturday 5th August 2017

The Maharashtra Authority for RERA registrations, MahaRERA, registered a little more than a thousand registrations in a time span of just four days after the deadline passed. 480 projects registered with the authority on 1 st and 2 nd August, and had already been fined a sum of Rs. 50,000 each. The authority also announced a separate fine on registrations done on and after 3 rd August which will be fixed later, which stands for more than 500 projects as of now. The total number of projects registered till Friday is 11,620. ...

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Noida Home buyers to take UP-RERA to High Court.

Saturday 5th August 2017

The Noida based Association of home buyers, Noida Extension Flat Owners Welfare Association (NEFOWA), has decided to challenge the UP RERA in the Allahabad High Court. The real estate buyers are unhappy with the changes that have been made by CM Yogi’s cabinet to the RERA Act before notifying. The Act has been made too lenient for the builders in the state and thus have been asked to justify its validity. The Association will also protest on the same at GNIDA Office on 10 th August,2017. ...

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Telangana government notifies RERA rules.

Friday 4th August 2017

The Telangana Cabinet on Thursday notified the final rules and regulations for the RERA Act implementation in the state. These guidelines would have to be followed by all the real estate projects in the state. The Telangana government also announced the formation of a Real Estate Regulatory Authority for conducting the whole procedure for the state. With the deadline for registrations already gone, it is expected that Telanaga will start with the registrations as soon as possible. ...

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Builders in Haryana demand 3-month extension for RERA registration !

Thursday 3rd August 2017

The Real Estate Developers of Haryana have demanded of an extension in the RERA deadline for ongoing projects by a period of three months. Haryana Cabinet notified the final rules on 28 th July,2017, which gave builders a time of only three days to get done with the registration process. The Haryana government delayed the notification by three months, as they had to provide the circular with the onset of month of May. ...

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Pune Development Authority to give an account of all the unregistered projects to MahaRERA.

Thursday 3rd August 2017

The Pune Metropolitan Region Development Authority (PMRDA), following the end of registration process for ongoing projects, will hand over the details of the unregistered projects to the Maharashtra RERA Authority. It is expected that the Maharashtra RERA Authority will take some strict action or impose heavy fines on these projects soon. MahaRERA has already announced a penalty of Rs 50,000 on 480 projects registered after 31 st July, earlier. ...

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UP cabinet extends RERA registration deadline !

Wednesday 2nd August 2017

The Uttar Pradesh Government on Wednesday announced extension to the prior deadline of 31 st July for the registrations of ongoing projects in the state. The deadline that has been set now is – 15 th August, 2017. Registrations can be done within this time limit for all kinds of project without paying any kind of fines. There are three brackets of Penalty introduced for three different time phrase following the 15 th August deadline. August 16 – August 31 : 1% Penalty September 1 - September 15 : 5% Penalty September 16 – September 30 : 10% Penalty ...

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With mere 800 projects registered in Bengaluru within the deadline, builders look for an expansion of RERA deadline.

Tuesday 1st August 2017

With the termination of the RERA deadline for ongoing projects yesterday, builders in Bengaluru now seek to get an extension to the previously set deadline. There have been less than 800 registrations of projects so far in Bengaluru which was expected to be much higher. Now with the passing of the deadline, builders quest for an extension to the deadline in order to keep away from paying hefty fines. ...

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RERA registration for ongoing projects comes to an end in Maharashtra, defaulters to pay heavy fine !

Tuesday 1st August 2017

Maharashtra Real Estate Regulatory Authority, the assigned body for RERA registrations in the state, observed large traffic on their official handle for the last- minute rush on 31 st July 2017. With this, the deadline for registrations of ongoing projects in the state has concluded. CM Devendra Fadnavis also tweeted on the last day of registrations and informed that approximately 2100 developers and 4682 projects have been enrolled so far on MahaRERA. The total number of applications received for projects are 6748. However, there are few developers who have not managed to meet the deadline to register. All the developers who have not yet completed the process are expected to be fined heavily and face further consequences. ...

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Building plans to be approved online from August, in Bhubaneswar.

Tuesday 1st August 2017

The Real Estate Developers of the city of Bhubaneswar is going to witness a landmark in industry. From the month of August, the builders will be able to approve their plans completely online. This will be of great convenience to the builders as this will help them skip the entire lengthy process of getting nod from the Building Development Authority (BDA). The same platform is expected to spread out in other cities of the state soon. ...

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RERA deadline dragged to 31 st October in GOA !

Tuesday 1st August 2017

The RERA registration deadline, that was set to be 31 st July, has now been expanded to 31 st October in the state of Goa for all the ongoing as well as new projects. The extension comes as a result of delay of providing the notification rules to builders, by the state government. However, there is still no surety as when the rules for the same will be made available to the builders. ...

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Punjab RERA to skip holiday, will accept registrations on 31 st July as well !

Saturday 29th July 2017

The Government of Punjab has decided to welcome applications for registration under RERA on 31 st July as well, which is a state holiday in Punjab on account of Martyrdom Day of Shaheed Udham Singh. The applications will also be received on 29 th , which is a Saturday. This will help the real estate developers of the state to register themselves before the set deadline of 31 st July. However, it is unlikely that all the developers will register before the deadline as due to the low traffic that has been observed in the initial phase of launching of the portal. ...

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15,000 complaints on the first day after UP RERA portal goes live !

Thursday 27th July 2017

UP’s RERA portal, which was launched by CM Yogi Adityanath on Tuesday morning, received a lot of backlash from the website’s visitors within the first 24 hours of going live. Reportedly, there were more than 15,000 complaints submitted on the portal This also created a lag on the UP RERA website which created more trouble for the registrants. ...

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Complete RERA registrations by 31 st July, no extensions required - Bombay High Court.

Thursday 27th July 2017

The Bombay High court on Wednesday, ordered registrations to be completed within the set deadline, 31 st July, in response to a petition filed by few builders questioning the validity of the new Regulatory Act. This makes it clear that the deadline is not going to be extended in the state of Maharashtra, which had started with the onset of month of May this year. Pending registrations now have to be registered within the coming four days ! ...

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Haryana cabinet clears centers RERA, registrations to start soon !

Wednesday 26th July 2017

Haryana Real Estate (Regulation and Development) Act rules were clarified and approved off by the Haryana cabinet on Tuesday chaired by the Chief Minister Manohar Lal Khattar. The Haryana Government Is expected to launch the RERA portal sooner after this meeting, as this was the final consideration on RERA by the cabinet. Real Estate Developers in the state have already been worried for the deadline ending with the month of July. ...

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RERA portal goes live in UP

Wednesday 26th July 2017

With just four days left for the registration to end, Uttar Pradesh CM Yogi Adityanath launched the RERA portal for the state today. This is a big rescue for all the builders and promoters as the registration will help them set going for the projects both ongoing as well as new. Also after such delay, a small window of extension is also expected by the state realtors. The UP RERA portal also helps the registrant to obtain a registration number instantly, unlike other RERA portals. ...

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National Housing Bank report shows steep fall of property prices in Ludhiana

Wednesday 26th July 2017

A report released by the National Housing Bank (NHB) for the quarter January - March 2017, indicated towards the low in property prices in Ludhiana. According to the report, the prices fell down by 7.8% compared to the last month of previous year. Property prices also saw a fall in Kolkata, Delhi as well as Surat earlier this year. The main facet of the fall of prices is considered to be demonetization. ...

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No extension of RERA deadline in Maharashtra - chairman Gautam Chaterjee

Wednesday 26th July 2017

With less than a week left for the registration process of Maharashtra RERA to come to a hold, the chairman elect of the Maharashtra RERA Gautam Chaterjee has informed that there are not going to be any extensions in the forthcoming deadline of 31 st July. With a total of 6 days left in meeting the deadline, not more than 1,500 projects have been registered out of the estimated 10,000. Notably, the RERA registrations had started May onwards in Maharashtra. ...

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RERA likely to be presented before the Haryana Cabinet today.

Wednesday 26th July 2017

With nothing quite seeming to be at place with the RERA registration process under state governments, the Haryana cabinet is expected to analyze the RERA Act on table today. This will include discussions on different aspects of the Acts such as the actions on ‘pending projects’ , ‘pricing’ and ‘terms and conditions’ ,before it is finally implemented in the entire state. ...

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CEO & Director of Amrapali Group behind bars on fraudulent charges.

Wednesday 26th July 2017

The Chief Executive Officer and the Director of the realty estate giant, Amrapali Group, has been arrested on being accused of non payment of labour cess woth more than Rs 4 crore. This comes after a final recovery notice was sent to the officials in March, following which the police had to take the necessary step under laws. Also, the Noida office of the Group has also been sealed for the time being. ...

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New petition filed by NDMC to oust central Delhi Le Meridien

Wednesday 26th July 2017

The New Delhi Municipal Council (NDMC) in the early March of this year scrapped the license of the hotel, on account of non-payment of the license fee, in a meeting led by the Delhi CM Arvind Kejriwal. However, the operating company of Le Meridien, CJ International Hotels have been in dispute with the NDMC as soon as they overtook possession of the property. ...

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NIUA to prepare structure for Master Plan of Delhi in 4 years

Wednesday 26th July 2017

The National Institute of Urban Affairs (NIUA) has been given the task to prepare the framework of the Master Plan of Delhi’s development by the Delhi Development Authority (DDA). The NIUA needs to submit the complete structure within the set deadline of 48 months. The structure will be implemented in the Master Plan that has been assigned to carry Delhi’s development till 2041. This is set to help the future projects of different sectors in the realty industry. ...

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Indians among top 5 buyers of residential property in the United States

Wednesday 26th July 2017

According to the surveys of property in the States, Indians are yet again among the top buyers of residential property. Indians have invested over $7.7 billion in the 12-month period which ended with March this year and rank 5 th among the others. Chinese citizens have emerged to be the top investors in the residential property in the US with a total investment of more than $31 billion. ...

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Delay in stamp duty cut by the government brings property deals in Punjab on hold

Wednesday 26th July 2017

Buyers of property in Punjab are awaiting the implementation of the 3 per cent cut in stamp duty charges, against the current 6 per cent cut, which was announced by the Punjab state government in the budget last month. This has resulted in a pause on the property market and is also set to influence the revenues of the state. ...

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All states have not even put notice regarding RERA Act , says joint secretary, Ministry of Housing and urban Poverty Alleviation

Wednesday 26th July 2017

Rajiv Ranjan Mishra, joint secretary of the Ministry of Housing and Urban Poverty Alleviation informed that only 21 states and UTs have put notice about the RERA registration so far. He also pointed the importance of registering with the RERA Act, speaking at a recent event. Out of the total 29 states in the country, only two have appointed permanent regulators for the same. ...

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Municipal Corporation of Gurugram (MCG) decides to auction the properties of tax defaulter

Wednesday 26th July 2017

The deadline for the submission of property tax was set as 14 th July, following which the Municipal Corporation of Gurugram has decided to sell the properties of the tax defaulters through a public auction. The MCG officials also sent out notices to these defaulters informing them about the step so taken. In the first lot , only 20 properties would be put on auction out of the total 519 sealed. ...

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Builders will be able to make changes to project Docs from September 1, announces MahaRera

Wednesday 26th July 2017

MahaRera, on Monday issued a notice announcing the allowance of change in project documents by builders from September 2017. This is set to serve a certain degree of relief to the builders as the previous set of regulations did not allow the builders to do so. A fee of Rs 5,000 will also be charged for each change. ...

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Modi holds conference with state chief secretaries concerning the (Housing For All) scheme.

Wednesday 26th July 2017

Prime Minister Narendra Modi on Wednesday, July 12 held a video conference with the dignitaries of different states regarding the 2015 launched ‘ Housing For All ‘ initiative which had been the highlight of his 2014 campaign. States have been called to develop respective plans to meet the targets by the aforesaid 2022 deadline. ‘ Housing For All ‘ termed as the Pradhan Mantri Awas Yojana ( Urban ) eyes to provide housing to the urban poor. ...

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RERA - Real Estate developers to be liable for a 5 year long warranty in contrast to any structural faults.

Wednesday 26th July 2017

The Real Estate Regulation Act ( RERA ) has already been an issue of concern over the last few months in the real estate industry. It seems as if there isn’t going to be any relief for the real estate developers anytime soon. This comes amid the RERA rules, that holds the developers responsible for any structural faults or decrement in quality or any other obligations as per the agreement relating to such project. ...

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Real Estate buyers call on UP MLA Pankaj Singh to address concerns over RERA implementation.

Wednesday 26th July 2017

Buyers of the Noida Extension Flat Owners Welfare Association ( NEFOWA ) met the BJP MLA Pankaj Singh at his Noida office regarding the registration following the RERA Act. Pankaj Singh in return assured the Association members of providing the complete information of the matter in a few days ahead. Notably, the official UP RERA website is set to start functioning by the end of July. ...

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Uttar Pradesh CM Yogi Adityanath alerts builders, warns them to deliver on time otherwise face consequences.

Wednesday 26th July 2017

CM Yogi Adityanath is set to give builders a tough time over the failure in meeting aforesaid commitments. Addressing at the CREDAI conclave, the minister emphasized on the importance of building trust among the buyers and the challenge the real estate developers face in meeting the buyer’s expectations. CM Yogi also focused on the undone projects in Noida which affects roughly 1.25 lac buyers. ...

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Karnataka RERA portal goes live two weeks after the formation of RERA Authority.

Wednesday 26th July 2017

With just a handful number of days left in the deadline of the registration process of RERA, Karnataka government has finally made the RERA portal functional. This would prove to be a big relief to the builders in the state as there had been no assigned body to submit for the RERA registration in the past. The president of the Bengaluru CREDAI said that they are aware of the deadline and will work to complete the process within the time assigned. ...

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No revision to Architects Act,1972 yet, as government withdraws bill to include further amendments.

Wednesday 26th July 2017

The amendment bill of the Architects Act, which was first presented in 2010 was withdrawn from the Rajya Sabha on Monday, only to add more alterations. The Amendment bill is set to strengthen the Council of Architecture and is going to play a huge role in improving the educational standards of Architecture industry in the country. The bill also eyes to maintain the register of Architects. ...

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NAREDCO & CREDAI in favor of RERA registration, asks members to register soon.

Wednesday 26th July 2017

National Real Estate Development Council ( NAREDCO ) and Confederation of Real Estate Developer’s Association of India ( CREDAI ) have decided not to head to the court concerning RERA Act and also asked the respective members to start with the registration process within the predetermined time limit. The NAREDCO president also stated, “  The RERA Act will boost the confidence of the buyers in the real estate industry. “  ...

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No extension for RERA Registration said, Gautam Chatterjee

Monday 10th July 2017

MAHARERA chairman Gautam Chatterjee make it very clear that builders and developers will not be getting any extension for RERA Registration in Maharashtra. Last day for Registration is 31 July 2017 only.Builders have been given 90 days time to register their ongoing projects with RERA without any extension of the deadline.Builders are liable to pay penalty in case they don’t get registered with RERA by 31 July 2017.  Only 3400 brokers and 300 projects have been registered in Maharashtra so far with MAHARERA. Chatterjee said he expects about 20,000 ongoing projects to be registered by the end of July. Any ongoing project that is being marketed needs to be registered with the authority or else it would be taken as the violation of section 3 of MahaRERA rules.  Maharashtra was one of the first states to implement RERA on 01 May 2017.RERA in Maharashtra will facilitate trust among the buyers and sellers of real estate,” said Gautam Chatterjee. ...

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Karnataka Government gives nod to RERA

Thursday 6th July 2017

After a long wait of 2 months, Karnataka has finally given a green signal to RERA. RERA aims to bring transparency and accountability in real estate sector. The state cabinet has passed the RERA rules after certain modifications. Karnataka law minister T.B. Jayachandra said that the delays were on account of prolonged discussions and confusion. He said that the state cabinet has decided that projects that are 60% complete or have executed 60% of the sale deed will be exempted from rules formulated by the state. Jayachandra said that the rules will also direct all builders to treat guidance value as the base price while estimating the project cost. After notification of rules, the government will form a Real Estate Regulatory for accepting application for registration of brokers and promoters. The final gazette will be released with 2-3 days. ...

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Himachal Pradesh to notify RERA in monsoon conclave

Saturday 1st July 2017

RERA is applicable in India from 01 May 2017 . The act applies to both residential and commercial property .State urban development, town and country planning minister Sudhir Sharma said that draft rules have already been prepared and will be placed in the assembly during the monsoon session for approval. Several states have already notified the rules though.The act in Himachal Pradesh will bring more transparency and will boost buyer’s confidence in real estate .RERA rules mandates registration of every real estate project with authority.After notifying the rules the state will form an authority for RERA registrations . Many states have already notified their RERA rules. ...

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Slow pace of RERA in Rajasthan- Only 3 projects registered till date

Thursday 29th June 2017

RERA came to force in Rajasthan on 1st June 2017 since then only 3 projects and 11 real estate agents have registered in RERA in last 27 days. There are around 300 new and 1000+ ongoing projects in the state but despite the fact pace of registration is very slow. All developers in the state have 90 days from the date of authority came into the picture and looking at the current pace it seems difficult for the authority to register all projects on time.  One of the main reason of slow pace of registration is the compliances which were imposed on a particular project. "The developers have to provide details on 49 points, which are mentioned in the registration form. The process was complex and it requires two- three days to collect substantial documents for one point. Demand was made to simplify the process, so that we can start the marketing of our projects after registering," is the statement of city-based developer Abhishek Sharma.The developers in a meeting requested to simplify the process for registering with RERA.  Department is hoping that registration will improve in Rajasthan as the deadline will approach closer. Apart from the compliance lack of awareness between Real Estate Brokers and Builders about RERA is another reason of slow response.      ...

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RERA arrival slowed pace of ongoing projects : MahaRERA

Wednesday 28th June 2017

Maharashtra facing sluggish progress of ongoing projects after arrival of RERA. 5,000 new units launched in Mumbai suffering inactivity, upshot of RERA.Registration is still slow with only 35 registrations yet. Pace depends over the compliance of builders with rules under the Act. It is believed that there would be boost in the rate of registration after 15th of July. Delayed registration and slackened new are resulting drop of sales in Mumbai and across India as well. Lack of interest in the main city is visible with no registrations yet. 75% of the total registered projects happen to be from suburban area. Confusion of builders regarding the jargons of RERA and Maharashtra Ownership Flats Act (MOFA) happens to be another reason for delay. Government provided timely clarifications about the terms but developers taking their own time to act.   ...

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Approved only 72 projects : MahaRERA

Tuesday 27th June 2017

  After the passage of 7 weeks, only 72 projects approved under RERA with around 88 applications received so far.   Developers cautious   Rajesh Prajapati, Chairman, PR, and Media Committee of the Confederation of Real Estate Developers’ Association of India (CREDAI), said, “It takes time for the market to digest any new rules. In this case, not only do we have to upload our financial documents but also the carpet area as per RERA norms. There is no scope to make mistakes and hence the developers are being cautious. All the developers are currently busy getting all the systems in place. We still need clarity from the regulator on a number of aspects.” When Chairman was asked about his verdict over the pace of registration, “It is essential to register before July 31 and we expect a spike in registrations next month, with at least 35,000-40,000 projects applying for registration by the end of July.”   Transparency   Pankaj Kapoor of Real Estate Research firm says about the pace of the registration  “The regulator has made more details public than what the developer would be comfortable with. Developers may have been deliberating with the government in order to have some rules relaxed but so far the government has been taking the side of the consumer.” Calling it to be a sluggish one. Kapoor points out the last minute rush that may result due to delayed registration. About 5,000 under construction projects under Mumbai Metropolitan Region alone stand unregistered triggering the chances of system failures due to last minute registration. He states about extensions of the date 31st July which was earlier decided to be the deadline for registration. Agents seem more alert about RERA with about 2,185 applications with about 1,950 had received approval.  ...

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Tamil Nadu apprised RERA with violation penal of 3 years

Tuesday 27th June 2017

Tamil Nadu notified RERA regulation secluding projects which are on the verge of completion. RERA to be functional with immediate effects in state. Penalty of 10% of the project cost to apply and imprisonment of about 3 years on law violation. 22nd of June rules have been notified within the state. Project under Chennai Metropolitan Area (CMA) on their completion are to be exempted from the law. Completion certificate issued under the Chennai Metropolitan Development Authority (CMDA). Projects not listed with CMA completed their construction and certified with the architect or structural engineer/ licensed surveyor linked with the project aided with photographs range outside RERA.   ...

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States facing pressure from Centre to bring Realty reforms

Monday 26th June 2017

Centre government leaving no stone unturned to bring up the RERA implementation in states to being transparency and liability in real estate sector. Centre prohibited constructions and marketing of projects unregistered with RERA. This calls for urgent implementation of the RERA rules in state. Developers not allowed to do business for being unregistered. March 1, 2017 was the deadline for the registration and State seems to be unresponsive to it. 16 states along with UTs inclusive of Haryana, Karnataka and Goa have no notified rules. Only Maharashtra, Madhya Pradesh and Rajasthan enabled online registration under the Act. States claimed under section 3(1) of the Act, the ongoing project were given limit till July 31, 2017 for registration. Housing ministry stated in June no projects inclusive of ongoing ones cannot be continued without registration under RERA. Three months time given for registration of the projects if failed would fall illegal from May 1. “The legal position is that they cannot do marketing till they are registered “ says official. Haryana RERA registration begun before proper rules notifying under RERA.   ...

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RERA Act extended to entire MP

Friday 9th June 2017

Madhya Pradesh has become the first State in the country to extend the applicability of the Real Estate Act to the entire State. Earlier, projects only in the 153 planning areas were required to be registered with RERA. In an important decision, the RERA has decided to extend the requirement to non-planning areas also, thus bringing the entire State under the purview of the Act. Now onwards, projects coming up anywhere in the State will have to be registered with the RERA and allottees of such projects will get all the protection available under the Act. ...

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Home builders switch to equity funding in RERA regime

Thursday 8th June 2017

Property advisers and developers feel that the tough deadlines under the RERA have prompted builders to seek long-term equity partnerships, with PE firms to reduce risks, focus on execution and avoid refinancing loans mid-way through the project cycle, rather than settle for structured debt providers seeking short-term profits. They also agreed that equity capital has been coming in the form of platform-level deals, where PE funds and builders partner to invest in multiple projects. However, these transactions are restricted to only larger and branded developers.  ...

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MahaRERA issues first notice for advertising about multiple projects that have not been registered

Monday 5th June 2017

Sai Estate Consultants, a property broker has been issued the notice for advertising about multiple residential projects that have not been registered under the MahaRERA. The broker, however, has already registered itself with the authority, but the Act requires brokers to sell or facilitate such activity in registered projects only. Gautam Chatterjee, Chairperson, MahaRERA shared with ET that even though ongoing projects have a 90-day window to advertise, sell and also get registered with the authority, if any broker has got registered during this period, he as per the rules can facilitate the sale only in such projects that are registered.  ...

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Existing home buyers in Karnataka fear govt may not protect their interests: RERA

Sunday 4th June 2017

By delaying the notification of rules, buyers allege, the government is facilitating builders to apply for occupancy and completion certificates so that they won’t come within the ambit of the RERA regulations. At least 8,000 realty projects in Bengaluru alone are either delayed or are facing charges of delaying possession. A top housing department official involved with implementation of the Act said that interests of all the stakeholders will be safeguarded and the law will be enforced after incorporating feedback from the homebuyers’ association. ...

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Vasundhara Raje, Rajasthan CM to launch the official RERA website today

Thursday 1st June 2017

Gopal Das Gupta, Chairman, CREDAI Rajasthan has welcomed the move of launching the new website. He says that this will bring transparency in the real estate market and weed out the developers who are with an intention to dupe the buyers. A media statement also shared that for redressal of consumer complaints; the Rajasthan government has appointed Additional Chief Secretary (ACS) of Urban Development and Housing (UDH) Department to head the Real Estate Regulatory Authority (RERA). An appellate tribunal will be set up to adjudicate disputes. ...

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Affordable housing, the new focus of housing finance firms, say industry experts

Tuesday 30th May 2017

The infrastructure status to the affordable housing segment and RERA are crucial moves for the growth of the Affordable Housing segment. Industry experts say that Affordable Housing is attracting the interest of more developers who had previously shunned it because of its down-market image. Today, with the government's determined push, it now plays a very important role in the housing finance sector.  ...

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MHADA yet to upload projects sans OC on the website

Tuesday 30th May 2017

With only two months left for uploading real estate projects on RERA website, the Maharashtra Housing and Area Development Authority is yet to ascertain its number of on-going projects that lack Occupation Certificates (OC). Officials said that as of now there are over 50 such projects that are yet to be uploaded. MHADA is bound to upload its projects of the past five years before RERA deadline July 31. MHADA says that due to RERA, they are not allowed to sell flats if its projects do not have an OC. ...

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Post 1st August, the RERA registration no. a must in ads by Maha builders

Monday 29th May 2017

Mr. Gautam Chatterjee, Maharashtra’s RERA Chairman said, “The realtors have been given three months’ time from May 1 to complete the online registrations of their ongoing and new projects. Post 1st August, it will be mandatory to mention the RERA registration number in every kind of advertisements. Since May 1, 900 agents and 16 projects have been registered. Yet, I am not satisfied as there are at least 30,000 projects which need to be registered immediately.” He added, “The consumer can see the status of the project online. In case of violation of the Act, the person can complain on the website itself. The guilty will be punished while those doing good work will flourish.” ...

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The Centre is tackling with the gray areas coming into light post RERA implementation.

Monday 29th May 2017

As of now, 11 states and 7 UTs have notified state rules while the rest are in process. Only Kerala, Madhya Pradesh and Maharashtra, have online portals for registration of stakeholders. Rao Inderjeet Singh in a media statement shared that the centre is hopeful that the authorities in the rest of the states will be in place by July 31st. The Centre, meanwhile, is trying to address all the gray areas coming into light during the implementation of the act and the vacuum formed in the absence of such authorities.  ...

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RERA magic on NRI Investments

Sunday 28th May 2017

NRIs have always been keen on investing in real estate in India. NRI investment in Mumbai has significantly been on the rise. RERA will increase their confidence by manifolds, as it ensures a transparent and a more investor-friendly system in place. A healthy policy change is a big boost for a growing economy and with RERA all set to transform the realty sector, it can be said that consumers will have a good time investing in a rich market like India, especially in Mumbai, which is a growing market for maximizing returns. ...

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Big players of real estate to get a big boost with RERA

Saturday 27th May 2017

Industry experts suggest that you can now avoid buying stocks of companies with low reserves and cash flows as RERA will increase compliance for new project launches and restricts the use of project cash flows. They feel that only big players will grow in the future and thus recommend investors to buy stocks of companies who are much into commercial projects. The next 1-2 years will see takeovers and mergers in the real estate sector, and they are likely to be in favor of big players. ...

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With RERA since 70% of the home loan receivables have to be deposited, the 20:80 scheme may become unviable

Saturday 27th May 2017

Under the 20: 80 scheme, the promoters used to take up the obligation to pay interest in relation to the entire disbursement under the home loan up to the home possession date or any other specified date. Also, the home loan lenders used to make the entire disbursement of the loan on day one by paying the money to the builders. The builders further utilised the same to reduce the existing debt in the project. Now, since the builder is obligated to deposit the 70% of such receivables, the entire calculation has to be revisited, hence this may not be a lucrative proposition for promoters in all projects. ...

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Loan approvals not to be given if the builder is out of sync with RERA

Saturday 27th May 2017

State Bank of India has given a checklist to loan processing officers to ensure that loan approvals are given only to projects that comply with the Act. The checklist includes points like ensuring the project is registered with RERA, whether the promoter has legal title to the land on which development is proposed, if the project land is free from all encumbrances, layout plans and specifications as approved by appropriate authorities, etc. The State Bank of India has issued a circular to this effect and other banks are expected to follow suit. ...

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Office properties constitute 59% of the total investments made across the country in the first quarter.

Tuesday 23rd May 2017

The office space is expected to see more interest from investors in the coming years. By the end of the year, the sector expects to see at least 2 -3 large portfolio level deals that would be further pushing the total private equity real estate funding into office market. These can be seen as signs of maturity of the market and a commitment of the funds for a long term partnership with developers. ...

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In FY18, the government aims to construct 12 lakh houses under PMAY scheme.

Tuesday 23rd May 2017

As per officials, so far the proposal for construction of 18.76 lakhs houses have been sanctioned, and funding for construction of 13.06 lakh houses has been issued. The delay in land acquisition is the prime reason behind the slow implementation of the government's flagship scheme PMAY (Urban). In fact, due to delay in land acquisition, only 1.49 lakh houses have been completed under PMAY (Urban) in 2016-17. ...

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Once GST kicks in, prices of flats may drop by up to 5%.

Tuesday 23rd May 2017

Industry experts say that for normal houses (up to Rs 6,000 per sq ft), 12% GST on a finished house or an apartment will be effectively reduced to near zero as the developer will take the credit for taxes he paid on inputs. At the same time, the buyer will not have to pay the service tax 4.5% of the price of the house. This will reduce the cost of acquisition of the house. ...

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Is registration of projects a double-edged sword under RERA?

Monday 22nd May 2017

The second chapter of the RERA that focuses on the registration of a project and agents can greatly determine its future or backfire. If the provisions regarding registrations of projects are not implemented properly it can backfire. A lot would depend on the speed with which state governments set up the infrastructure as then only the people chosen to run RERA would have a significant say in its success. ...

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DLF Homes to pay Rs 22.3 lakh to 13 Panchkula flat buyers as per consumer forum orders

Monday 22nd May 2017

The State Consumer Disputes Redressal Forum has said that since the realtor failed to complete construction and deliver possession within the stipulated period and extended one-year period, it is responsible for delays and deficiency in service and their appeal for allowing them escalation cost of construction as well as land holding amounts to seeking an amendment of the terms and conditions of the agreement stands rejected. ...

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Every state to frame their RERA rules in sync with the Act: Centre

Monday 22nd May 2017

Ministry officials say that “We have appealed to every state to frame their rules in sync with the Act and they can follow the rules that the ministry has notified for UTs without legislatures. The Act clearly defined terms such as carpet area, flats, ongoing project, and disclosures to be submitted by builders, and specified penalty for offenses by builders. The states should stay away from defining them further to avoid confusion, interpretational difficulties and litigation.” ...

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RERA should also help with a roadmap mechanism for completion of stuck projects.

Monday 22nd May 2017

RERA provides for penal action against the developer for non-compliance and compensation to home buyers in case of delay in delivery. However, the mechanism for completion of stuck projects needs to be spelled out. The roadmap for buyers stuck in delayed projects where developers are ready to face the strictest punishment of imprisonment is not clear. Experts say that the government should identify such projects quickly and start an investigation. ...

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On RERA fear, Independent Directors are resigning

Sunday 21st May 2017

There is fear among the independent directors of real estate firms because under RERA independent directors can be held accountable in case a company fails to comply with the new regulations of RERA. The Indian real estate sector has a long history of delayed projects, poor quality and illegal construction. And India has a history that 30% of the projects get delayed. RERA with its new regulations is going to be very tough and developers will have to be equally tough and disciplined. ...

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