RERA Latest News | RERA News | RERA news in Karnataka | MAHARERA | RERA in Mysore

Supertech to raise over Rs 1,200 crore for the completion of stuck projects

Friday 12th May 2023

Real estate developer Supertech wants to raise between Rs 1,200-1,600 crore from OakTree Financial, according to Mohit Arora, the company's managing director, in order to finish its unfinished projects. Arora continued by saying that on Thursday, the Supreme Court affirmed the NCLAT order from June 2022, allowing the promoters of Supertech to seek money for the projects on a priority financing basis without being hindered. ...

Mumbai: Housing society office bearers debarred from society elections for five years

Friday 12th May 2023

Due to their alleged improper treatment of the sinking fund and other financial matters, as well as their inability to file audit rectification reports for five years in a row, former members of the management committee of a housing society have been subject to repercussions. According to the judgement, the complainant in the case, M.H. Kapadia, informed the registrar's office that the management committee and its office bearers failed to give the society members access to the audit rectification reports for the fiscal years between 2015 and 2019. ...

Noida authority may allow co-developers to complete pending projects

Thursday 11th May 2023

The Noida and Greater Noida authorities are exploring a co-developer policy as a viable remedy to deal with two major issues: finishing housing projects that have stopped owing to a lack of funding and collecting its debts. Instead of individual realtors entering into co-development agreements, as has happened for a few delayed projects in the city, under this approach, companies will be able to put money in a project and see it through. ...

Kolkata civic body may extend property tax rebate date as snag hits e-payment

Thursday 11th May 2023

Many property owners in Kolkata have been unable to pay their property taxes online due to technical issues with the KMC system, which has caused them to miss the deadline for applying for the refund. The Kolkata Municipal Corporation (KMC) is contemplating extending the rebate period for people who missed the cut off by one week in response to this problem. The extension is being taken into consideration in order to offer relief to individuals who were impacted by the server issue in the previous three to four days, claims a source in the KMC evaluation department. ...

Kolte-Patil Developers signs two new residential projects in Pune

Thursday 11th May 2023

Pune-based builder Kolte-Patil Developers (KPDL) has recently inked agreements for two new residential development projects in Pune, which have a combined estimated saleable area of 1.9 million sq ft and a top-line potential of Rs 1,300 crore. The two projects will be situated in Kondhwa's NIBM Road and Wagholi's Nagar Road. Five acres of land in Wagholi that have a potential buildable area of about 7.5 lakh square feet and a potential revenue of about Rs 400 crore have been acquired by KPDL. ...

Punjab to enlist design professionals to make buildings energy efficient

Wednesday 10th May 2023

Aman Arora, the Minister of New and Renewable Energy, has announced that Punjab Energy Development Agency (PEDA) plans to engage energy conservation building code (ECBC) experts to improve the energy efficiency of buildings and encourage energy conservation. The Minister also mentioned that the PEDA has initiated the process of selecting ECBC design professionals who can help architects and owners achieve ECBC compliance in the state. Applications can be submitted until May 25th at 3 PM. ...

SC stays Bombay HC order allowing recreation grounds on podiums

Wednesday 10th May 2023

The Supreme Court has stayed a Bombay High Court order from January 2023 that permitted recreation grounds (RG) on tower podiums, which has caused a setback for builders. The National Real Estate Development Council (Naredco) had approached the HC seeking clarification on a September 2022 National Green Tribunal (NGT) order that prohibited developers from treating podiums in buildings as RGs, stating that an RG should be open to the sky to enable tree planting. ...

Builders flout green laws, Rajasthan pollution board fumes

Wednesday 10th May 2023

Builders in the city are constructing high-rise buildings without adhering to environmental laws that are aimed at preventing environmental degradation. While these builders offer state-of-the-art amenities to lure buyers, the Rajasthan State Pollution Control Board (RSPCB) has expressed its displeasure over the lack of environmental clearance sought by most builders. The RSPCB has also found instances where builders sell completed projects to buyers without obtaining Consent to Operate (CTO) from empanelled architects. ...

SC directs Himachal government to consider objections to the Shimla draft development plan

Wednesday 10th May 2023

The Himachal Pradesh government has been ordered by the Supreme Court to examine and decide on the objections made against the draft development plan for Shimla. The final development plan needs to be made public within six weeks, but it is unable to be put into action until a month after that. On the basis of the draft development plan, the court has further ordered that no construction should be permitted. ...

MahaRERA issues notices to 584 developers for non-update of quarterly information

Tuesday 9th May 2023

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued show-cause notices to more than 584 housing project promoters for failing to update project-related information after their details were registered in January. This action has been taken in relation to a total of 746 new housing projects that include about 50,288 flats and have a registered value of nearly Rs 22,449 crore. MahaRERA provides accurate information on various housing projects, including their status, costs, and other important factors, which can be easily accessed through the regulator's portal, empowering homebuyers by ensuring that developers and builders comply with regulatory directives. ...

Jaiprakash Associates defaults on Rs 3,956-crore loans on April 30

Tuesday 9th May 2023

The main business of the financially troubled Jaypee Group, Jaiprakash Associates Ltd. (JAL), has defaulted on loans totaling Rs 3,956 crore, which includes both principal and interest payments. The business acknowledged in a regulatory statement that it missed its April 30 principal and interest payment deadline of Rs 1,642 crore and Rs 2,314 crore, respectively. The loans were obtained from several banks and were divided into the following categories: term loans, FCCBs (foreign currency convertible bonds), fund-based working capital, and non-fund-based working capital. ...

Noida administration gives Supertech chairman 10 days to clear RERA RCs

Tuesday 9th May 2023

Supertech has been given recovery certificates (RCs) by the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera), but the business has not yet complied with them. According to officials, Arora was summoned to the SDM Dadri's office to present a schedule for fulfilling the requirements of the recovery certificate. 52 certifications of Rs. 26 crore are included in the RCs, which are for a project off the Yamuna Expressway. ...

Goa: Quelossim panchayat to hike house tax after 25 years

Tuesday 9th May 2023

The Quelossim village panchayat unanimously decided during a recent gram sabha meeting to amend the house tax rate, which has been the same for more than 25 years. There was no argument or disagreement when the decision was made. The last time the house tax rate was revised was in 1996. The conference also covered the topic of garbage collection in the panchayat's area of responsibility. The panchayat members decided to take action to stop the garbage menace and prevent the area from suffering the negative impacts of waste disposal. ...

Nagpur civic body sells 80,000 sq ft plot for Rs 111.75 crore

Monday 8th May 2023

A site on the London/Orange City Street Project sold for Rs 14,000 per square foot, setting a new record for the highest sale price in Nagpur Municipal Corporation's (NMC) history. The corporation has received a profit of Rs 156 crore from the project as a result of this sale. By selling an 80,000 square foot plot for Rs 111.75 crore, or over Rs 14,000 per square foot, the municipal commissioner Radhakrishnan B, executive engineer Naresh Borkar, and his team made history. ...

ASK Property Fund raises over Rs 1,500 crore

Monday 8th May 2023

For its sixth fund, Real Estate Special Opportunities Fund IV, ASK Property Fund, the real estate private equity division of the ASK Group, has successfully raised more than Rs 1,500 crore. Co-investors have also made contributions to the fund. The top five real estate markets in the country will be the primary focus of this fund, with a special emphasis on investments in development projects for mid-income and cheap residential properties. ...

Supertech to raise over Rs 1,200 crore for the completion of stuck projects

Mumbai: Housing society office bearers debarred from society elections for five years

Noida authority may allow co-developers to complete pending projects

Kolkata civic body may extend property tax rebate date as snag hits e-payment

Kolte-Patil Developers signs two new residential projects in Pune

Punjab to enlist design professionals to make buildings energy efficient

SC stays Bombay HC order allowing recreation grounds on podiums

Builders flout green laws, Rajasthan pollution board fumes

SC directs Himachal government to consider objections to the Shimla draft development plan

MahaRERA issues notices to 584 developers for non-update of quarterly information

Jaiprakash Associates defaults on Rs 3,956-crore loans on April 30

Noida administration gives Supertech chairman 10 days to clear RERA RCs

Goa: Quelossim panchayat to hike house tax after 25 years

Nagpur civic body sells 80,000 sq ft plot for Rs 111.75 crore

ASK Property Fund raises over Rs 1,500 crore

About RERA Filing

RERA Services

Useful Links

RERA in states

Have Questions on RERA ? Have free discussion on email.

About RERA Filing

RERA Services

Useful Links

RERA in states