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Telangana RERA Slaps 18 Lakh Penalty on Sterling Homes for Project Delays

Wednesday 20th November 2024

The Telangana Real Estate Regulatory Authority (RERA) has imposed an ?18 lakh penalty on Sterling Homes, a real estate developer, for project delays. This action stems from a complaint by a buyer who alleged that the developer failed to deliver the property on time, violating RERA regulations. The authority ruled in favor of the buyer, emphasizing the importance of adhering to agreed timelines and safeguarding consumer interests in the real estate sector. ...

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Buildox fined for collecting flat booking amount without Telangana RERA approval

Friday 15th November 2024

Buildox, a real estate firm, has been fined for collecting flat booking amounts without obtaining prior approval from the Telangana Real Estate Regulatory Authority (RERA). RERA regulations require developers to register their projects before accepting any payments from homebuyers. The fine serves as a reminder to developers about the importance of complying with RERA rules to ensure transparency and protect consumer interests in the real estate sector. ...

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Telangana RERA Orders Bhrigu Infra to Refund Rs. 20 Lakh

Thursday 14th November 2024

The Telangana Real Estate Regulatory Authority (RERA) has directed Bhrigu Infra, a real estate developer, to refund Rs. 20 lakh to a buyer who had paid for a plot that was not registered as promised. The buyer had entered into an agreement with the developer for the purchase of the plot, but the plot was not registered under RERA, which is mandatory for real estate transactions in the state. RERA found the developer in violation of the rules and ordered the refund of the amount paid along with interest.This decision underscores the importance of RERA registration for developers and offers protection to buyers against such defaults. ...

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Uttar Pradesh Government Seeks List of Builders Handing Over Flats Without Registries

Wednesday 13th November 2024

The Uttar Pradesh government has asked for a list of builders who are handing over flats to buyers without completing the mandatory property registration. This action aims to address concerns about builders bypassing the registration process, which leaves buyers without legal ownership of their properties. The move is part of efforts to protect homebuyers' rights, ensure transparency in property transactions, and hold builders accountable for adhering to legal requirements. ...

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Bhutani Infra acquires Logic City centre in Noida

Tuesday 12th November 2024

Bhutani Infra has acquired the Logix City Center Mall in Noida for around Rs. 1000 crore. Logix City Center is a significant mixed-use development, comprising retail, office, and entertainment spaces.This deal involves a large mixed-use property with retail, office, and entertainment spaces. The acquisition aligns with Bhutani Infra's strategy to expand its presence in the National Capital Region (NCR), and the company plans to rebrand and revamp the property to cater to evolving market demands. The deal highlights the ongoing growth and investment in the commercial real estate sector in NCR. ...

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Maharashtra RERA Mandates Broker Fee Disclosure in Property Sale Agreements

Saturday 9th November 2024

The Maharashtra Real Estate Regulatory Authority (RERA) has mandated that brokers' commission fees must be disclosed in property sale agreements. This new regulation requires real estate brokers to clearly mention their fees in the agreement, ensuring transparency in transactions. By making broker fees visible upfront, RERA aims to avoid disputes and hidden costs in property deals, benefiting both buyers and sellers. The rule seeks to promote greater accountability within the real estate sector and enhance the trust between all parties involved in a property transaction. ...

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Maharashtra RERA Puts Grading of Real Estate Projects on Hold

Saturday 9th November 2024

Maharashtra's Real Estate Regulatory Authority (RERA) has temporarily suspended its grading system for real estate projects. This system was designed to rate projects based on criteria such as legal compliance, project delivery timelines, and customer satisfaction. The decision to put the grading process on hold comes after concerns about the transparency and effectiveness of the system. RERA plans to review and refine the grading methodology before resuming the process. This suspension may impact the way homebuyers assess developers and projects in the state in the short term. This pause in grading is seen as a step towards ensuring more reliable and meaningful ratings in the future, addressing any issues that could affect the credibility of the system. ...

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Builder cant sell properties without basic amenities: Rajasthan HC

Wednesday 9th October 2024

The Rajasthan High Court raised concerns on Wednesday about the sale of plots and houses in privately developed colonies lacking essential services such as drainage, electricity, and water supply. The court directed the state government, development authorities, and urban bodies to ensure that no developer or builder can sell such properties without meeting construction regulations. ...

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Government issues new quality standards for construction materials

Wednesday 9th October 2024

On Friday, the government announced a new quality control order aimed at establishing rigorous quality standards for essential construction materials, including ropes, cordages, geotextiles, and industrial textiles. This initiative is expected to enhance construction worker safety and improve efficiency in construction processes. The new quality control orders (QCOs) will be implemented gradually, allowing Small and Medium-sized Enterprises (SMEs) more time to comply with the updated standards. ...

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Maharashtra government offers 1.33 FSI incentive for rental housing in Dharavi redevelopment

Wednesday 9th October 2024

Maharashtra Government Offers 1.33 FSI Incentive for Dharavi Redevelopment Rental Housing In light of ongoing litigation, the Maharashtra government has recognized that only 50 of the 246 acres of salt pan land will be available for rental housing for ineligible residents in Dharavi's redevelopment. As an alternative, the state is providing developers with an FSI incentive. On Friday, the state housing department issued a resolution allowing the Dharavi Redevelopment Project Private Ltd (DRPPL) to acquire land outside the Dharavi Notified Area (DNA) for rental housing. ...

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Gurugram: Homebuyers of Hero Homes protest against delayed possession of flats

Wednesday 9th October 2024

Hero Homes Homebuyers Protest Delayed Flat Possession Frustrated homebuyers from Hero Homes in Sector 104 gathered at the project site on Sunday to protest against the delayed possession of their flats. With banners and slogans, the buyers voiced their anger over the developer's lack of communication, claiming there have been no updates on the project's completion timeline. ...

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Bengaluru Development Body Enforces Mandatory e-Khata System for Properties

Monday 16th September 2024

Starting from September 13, the Bangalore Development Authority (BDA) requires all properties under its jurisdiction to transition to the e-khata system, replacing the old paper-based khata system. This move impacts over 2 lakh properties in Bengaluru under BDA's purview and aims to improve transparency in property dealings, making it easier to identify double registrations, financial irregularities, and other fraudulent activities. ...

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Gujarat RERA to Relax Quarterly Progress Report Requirements

Monday 16th September 2024

The Gujarat Real Estate Regulatory Authority (GujRERA) is planning to ease the rules for submitting quarterly progress reports (QPR) for real estate projects. The upcoming changes, expected soon, will remove the automatic quarter lock in case of delayed QPR submissions. Instead, developers will face a daily penalty for late submissions, aiming to improve compliance and ensure better transparency for homebuyers. ...

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Will engage with IRP of Jaiprakash Associates on cement asset acquisition: Dalmia Bharat

Saturday 8th June 2024

Dalmia Bharat announced on Friday that it will engage with the interim resolution professional (IRP) of Jaiprakash Associates Ltd (JAL) to discuss acquiring JAL's cement assets.   Source: ET Realty ...

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H-RERA inspects eight underconstruction projects in Gurugram to grant more time for completion

Saturday 8th June 2024

On Friday, the Real Estate Regulatory Authority (RERA) in Gurugram inspected eight under-construction real estate projects that are set to receive extensions for their completion and handover to buyers, an official reported.   Source: ET Realty ...

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