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Haryana RERA Seizes Rs 2.25 Crore in Security Deposits from Six Developers for Violating Registry Rules

Wednesday 12th February 2025

The Haryana Real Estate Regulatory Authority (HRERA) has seized security deposits of ?2.25 crore from six developers for violating registration rules and project delays. The developers were penalized for not adhering to project timelines, with fines of ?25 lakh each for two of them. Despite these actions, their RERA registration certificates remain valid, with revised project timelines. HRERA emphasized the importance of timely project completion and warned of strict actions against non-compliant developers, ensuring homebuyer protection. Similar measures were taken against 20 developers in March 2024 for violating norms. ...

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Suraksha Group UP RERA Registration Revalidated for Seven Stalled JIL Projects in Noida

Tuesday 11th February 2025

The Suraksha Group has had the UP-RERA registration revalidated for seven housing projects from Jaiprakash Infratech Limited (JIL), which it took over in June 2024. These projects had been stalled, leaving homebuyers unable to secure loans. The revalidation will allow financial institutions to provide home loans, benefiting around 10,000 buyers. The seven projects are set for delivery in phases starting December 2025. However, concerns remain over the pace of construction, particularly for two projects where the registration is valid only until the end of 2025. ...

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SC Limits Builder Deductions to 10% on Homebuyer Cancellations

Friday 7th February 2025

The Supreme Court of India has ruled that real estate developers cannot deduct more than 10% of the basic sale price (BSP) if a homebuyer cancels their booking. This decision addresses the issue of one-sided agreements favoring developers and aims to protect homebuyers from unreasonable forfeiture practices. The court emphasized that contractual terms that are excessively one-sided, unfair, and unreasonable amount to unfair trade practices. This ruling reinforces the principle that deductions beyond 10% are excessive and legally unjustifiable. ...

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Punjab Developers Found Evasion of RERA Rules

Thursday 6th February 2025

Recent GST raids have uncovered that several land developers in Punjab, especially in Mohali and New Chandigarh, are circumventing Punjab Real Estate Regulatory Authority (RERA) regulations. These developers have been selling plots and shop-cum-offices through pre-launch offers, 'land pooling' agreements without actual land, and the Expression of Interest (EoI) model to secure early investments from buyers at discounted rates, even before obtaining necessary approvals. Such practices are unlawful and have led to significant GST evasion, as these projects were not registered under Punjab RERA. The regulatory body has announced strict penalties for violators to safeguard buyers' interests. ...

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Bengal Tribunal Blocks Yes Bank from Seizing Flats Over Developer Default

Wednesday 5th February 2025

The West Bengal Real Estate Appellate Tribunal has intervened to prevent Yes Bank from seizing flats in New Alipore, Kolkata, due to a default by the developer on loan payments. The ruling was made in favor of homebuyers, asserting that their rights take precedence over financial institutions' claims. This decision highlights the tribunal's stance on safeguarding consumers in the real estate sector, particularly in cases involving developer defaults.This judgment is considered a landmark, setting a precedent for protecting homebuyers' interests against banking institutions' recovery proceedings in real estate projects.  ...

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Odisha Allows Registration of Pre-RERA Apartments, Easing Homebuyers Woes

Wednesday 5th February 2025

The Odisha government has allowed the registration of apartments completed before RERA's implementation on February 25, 2017. This move addresses challenges faced by homeowners unable to register sale or transfer deeds due to ambiguities in the Odisha Apartment (Ownership and Management) Act 2023. The Housing and Urban Development department has issued a notification, ensuring that registration authorities cannot deny registrations for pre-RERA apartments. This decision is expected to revive the real estate market and provide relief to homebuyers. However, experts seek clarity on defining completed projects and the status of those without occupancy certificates. ...

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UP-RERA Registers Over 250 Projects in 2024 Boosting Real Estate Growth

Monday 3rd February 2025

In 2024, Uttar Pradesh RERA registered over 250 real estate projects, reflecting a rise in regulatory compliance. About 65% of these projects are from non-NCR districts like Mathura, Ayodhya, and Varanasi, while 35% are from NCR areas such as Noida and Ghaziabad. UP-RERA now oversees 3,756 registered projects, with 1,207 completed. This growth highlights increasing transparency and investor confidence in the state’s real estate sector. The surge in registrations, especially in non-NCR regions, signals expanding development beyond traditional hubs, contributing to structured urbanization and real estate growth across Uttar Pradesh. ...

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Former Himachal Pradesh RERA Chief Accused of Fund Misuse

Monday 3rd February 2025

Dr. Shrikant Baldi, the former Chairman of the Himachal Pradesh Real Estate Regulatory Authority (HPRERA), is facing allegations of misusing funds during his tenure. The specific details of the allegations have not been publicly disclosed. Dr. Baldi, a retired IAS officer, was appointed as the Chairman of HPRERA in October 2019.In a related development, the Union Finance Ministry has directed public sector banks to ensure strict compliance with RERA provisions to prevent the misappropriation of funds by developers. This move aims to safeguard homebuyers' interests and maintain transparency in real estate transactions. ...

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"Karnataka RERA Struggles with Low Recovery of Builder Penalties Only 12% Collected

Thursday 30th January 2025

Karnataka RERA has issued recovery orders totaling ?758.85 crore against builders for violations, but only ?91 crore (around 12%) has been recovered. The slow recovery is due to an overburdened district administration and the lack of a dedicated recovery officer in K-RERA. Experts suggest appointing a special revenue recovery officer to speed up the process. K-RERA is considering structural changes to improve enforcement and ensure homebuyers receive their dues. ...

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UP RERA Warns Builders Against Misleading Project Advertisements

Friday 24th January 2025

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has issued a warning to builders about using misleading advertisements for their projects. The notice emphasizes compliance with Section 11 of the Real Estate (Regulation and Development) Act, 2016, which requires accurate information in promotional materials.Builders must ensure that all project advertisements include the RERA registration number and do not make false claims. The authority aims to protect buyers from deceptive marketing practices and ensure transparency in real estate dealings. ...

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Karnataka Builders Owe ?666.97 Crore in RERA Penalties for Non-Compliance

Monday 20th January 2025

Builders in Karnataka owe ?666.97 crore in penalties under RERA for violations such as project delays and unresolved buyer complaints. Despite repeated notices, many developers have failed to pay the dues, frustrating homebuyers and prompting authorities to consider stricter enforcement measures to ensure compliance and safeguard consumer interests. ...

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Delhi RERA to Introduce New Guidelines Soon to Enhance Transparency and Protect Homebuyers

Friday 17th January 2025

Delhi RERA (Real Estate Regulatory Authority) is set to introduce a new set of guidelines aimed at improving the real estate sector in Delhi. These guidelines will focus on enhancing transparency, addressing delays in project completion, and ensuring better protection for homebuyers. The new measures are expected to streamline processes and strengthen regulatory oversight to create a more robust and consumer-friendly real estate environment. The Delhi RERA chairman emphasized that these guidelines will be issued soon, with a focus on addressing existing concerns in the sector.    ...

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Maharashtra RERA Limits SRO Appointee Tenure to Two Years for Better Governance

Tuesday 14th January 2025

  Maharashtra’s Real Estate Regulatory Authority (RERA) has announced a new rule limiting the tenure of appointees to Self-Regulatory Organizations (SROs) to two years. The decision is part of ongoing efforts to strengthen the real estate sector’s regulatory framework and improve governance within industry bodies. SROs play a critical role in ensuring compliance with RERA’s guidelines and addressing grievances, but the move seeks to prevent stagnation within these organizations. By enforcing a two-year limit, RERA aims to bring in fresh leadership and ideas, fostering a dynamic environment that can better serve the interests of consumers and developers alike. This change is expected to improve transparency, efficiency, and accountability in the real estate market. The rule reflects RERA’s commitment to ensuring that industry bodies remain effective and responsive to evolving challenges in the real estate sector. ...

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UP RERA Imposes Rs. 14.41 Crore Penalty on Ansal Properties for Violating RERA Act

Friday 10th January 2025

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has imposed a penalty of Rs. 14.41 crore on Ansal Properties & Infrastructure Ltd. for violating provisions of the Real Estate (Regulation and Development) Act, 2016. The violations pertain to the delay in possession of flats to buyers and failure to deliver apartments within the stipulated time frame as per the agreement. The penalty includes compensation to homebuyers and will be deducted from the company’s ongoing projects in accordance with RERA's guidelines. The company has been ordered to refund amounts to the affected buyers and pay the penalty to the authority. ...

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Maharashtra RERA Freezes Bank Accounts of Over 1,950 Stalled Real Estate Projects to Protect Homebuyers

Friday 10th January 2025

Maharashtra RERA (Real Estate Regulatory Authority) has frozen the bank accounts of over 1,950 stalled real estate projects in the state. This decisive action aims to ensure developers use the funds for completing delayed or abandoned projects, thus protecting homebuyers' interests. Many of these projects, both residential and commercial, have been facing significant delays, leaving homebuyers in uncertainty.RERA’s freeze is intended to prevent developers from misusing funds meant for project completion. By holding developers accountable, RERA hopes to expedite the construction process and ensure the timely delivery of properties to homebuyers. This move is a direct response to growing concerns over stalled projects in the state, which have affected thousands of buyers.Developers are now required to use the frozen funds specifically for completing these projects, with RERA warning of further actions if developers fail to meet their obligations. The initiative aims to enhance transparency and protect consumers in the real estate sector. ...

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