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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. ...
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. ...
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. ...
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. ...
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. ...
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. ...
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. ...
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. ...
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. ...
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. ...
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. ...
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. ...
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. ...
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. ...
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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