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Maharashtra government revises guidelines for houses built, allotted by MHADA

Sunday 19th March 2023

The Maharashtra government has updated the criteria to modify the allowable carpet area of flats to be created and sold through the lottery system of the Maharashtra Housing & Area Development, the state government's nodal agency and statutory housing authority. The state government has also prohibited EWS and LIG applicants from applying for HIG segment apartments. Before, applicants from these groups could apply for any apartment in any category. ...

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Haryana RERA directs Splendor Landbase to pay fine with interest to home buyers

Saturday 18th March 2023

For failing to deliver units on schedule, the real estate regulatory authority (Rera) has ordered a builder to pay delayed possession penalties to its allottees. The authority also set aside a unit cancellation notice issued on February 7 by the builder, Splendor Landbase Limited. ...

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Bombay HC restrains Avarsekar Realty from selling unsold flats across projects

Saturday 18th March 2023

Avarsekar Realty Pvt Ltd, a builder, was recently prohibited by the Bombay High Court from selling any of its unsold flats in a proposed luxurious 42-story highrise in Mahim and its other projects until further orders. A civil contempt plea filed by an advocate and his wife who had booked a flat in Shrishti Sea View in Mahim in January 2012 was deferred to March 27 by the court. The Centre introduced the Real Estate (Regulation and Development) Act in 2016, which went into effect in Maharashtra in April 2017. The same month, Paranjpe demanded interest from the builder over the delay in flat possession, claiming a buyer-friendly provision in RERA, and filed a complaint with MahaRERA in September 2019 when they did not receive possession of the flat booked. ...

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MahaRERA issues notices to 14 projects for advertising without registration number

Friday 17th March 2023

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken Suo Moto action against real estate developers who advertise housing projects without a MahaRERA registration number. MahaRERA has issued show-cause warnings to 14 projects in the previous few days after noticing advertisements produced by these developers without a registration number. All of these projects have been given 7 days from the date of notification to present their case to the regulator. The problems are required to be corrected within the specified time frame, and developers who fail to respond correctly will face penalties. ...

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Delhi HC dismisses plea by home buyers against loan EMIs without possession of flat

Friday 17th March 2023

The Delhi High Court has dismissed many home purchasers' petitions asking banks and financial institutions not to impose EMIs till real estate developers handover possession of their particular units. The petitioners have alternative remedies under several statutes, including the Consumer Protection Act, the Insolvency and Bankruptcy Code, and the Real Estate Regulation and Development Act, according to Judge Purushaindra Kumar Kaurav, who refused to hear the writ petitions. Supertech Urban House Buyers Association (SUHA) Foundation and other similarly situated people who have obtained home loans from banks and financial institutions under the subvention plan were among the petitioners before the court. ...

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Civic bodies in Rajasthan to face music over deeds for unregistered projects

Thursday 16th March 2023

The Rajasthan Real Estate Regulatory Authority (RERA) has directed all local bodies to withhold lease documents for plotting projects. Even though the RERA was established in Rajasthan on May 1, 2017, urban bodies such as municipalities, UITs, and development authorities continue to issue leases of houses allotted to private developers or private account holders in plotted schemes in other major cities such as Jodhpur, Kota, and Ajmer. Upon the receipt of complaints, the RERA authority issued a warning letter and stated that fines would be applied for failing to obey the guidelines. "If a local body provides lease deeds without registration, it shall be liable for penalties," stated advocate Mitesh Rathore. According to the RERA rule, if a promoter seeks to create a project with nine or more plots on a plot of land larger than 500 square metres, the project must be registered under RERA. ...

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Plan to bring projects on smaller plots under West Bengal RERA

Thursday 16th March 2023

The state government may explore placing smaller residential constructions under the purview of the West Bengal Real Estate Regulatory Authority (WBRERA) or enact separate legislation to manage these projects. Mamata Banerjee, the chief minister, has urged the housing department to consider the suggestion so that purchasers who are now not covered by WBRERA can also obtain some protection. Sushil Mohta, president of the Confederation of Real Estate Developers' Association of India (West Bengal), raised the issue of small-time local promoters bringing disrepute to the trade by defrauding homebuyers who had no protection, unlike larger developments covered by WBRERA, during the interactive session on Wednesday. ...

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New bill likely to replace MOFA under review: Maharashtra cooperation minister

Tuesday 14th March 2023

On Wednesday, state cooperation minister Atul Save informed TOI that the government was closely evaluating the text of the new Maharashtra Transfer of Title in Real Estate Project Bill, which is expected to replace the existing Maharashtra Ownership of Flats Act (MOFA), 1963. He stated that the draught bill would be discussed with all parties before being approved. The proposed law addresses conveyance documents of housing societies that are not covered by the RERA Act. He stated that his department was reviewing the draught of the Maharashtra Transfer of Title in Real Estate Project Bill, which emphasises the completion of conveyance deeds by developers within three months. Developers' organisations have urged that the current MOFA be replaced. According to state cooperation department officials, the draught bill states mandatory occupancy certificate (OC) for carrying out conveyance deeds, in contrast to the MOFA, which issued a GR for authorising considered conveyance without the OC following a self-declaration that it would be done later. ...

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Special officials must under PMLA for estate agents with Rs 20 lakh turnover: MahaRERA

Tuesday 14th March 2023

The Maharashtra Real Estate Regulatory Authority (MahaRERA) issued an order on Monday mandating real estate agents with an annual turnover of Rs 20 lakh or more to share information about appointments of a principal officer and a designated director. This obligation is mentioned in the Prevention of Money Laundering Act of 2002 (PMLA) and the Prevention of Money Laundering (Maintenance of Records) Rules of 2005. (PMLR). The primary officer would serve as a central point of contact for reporting suspicious transactions and identifying possibly suspicious transactions. The designated director would be responsible for ensuring overall compliance with the duties imposed under the PMLA and the PMLR. Real estate agents have been classified as "reporting entity" under the PMLA Act. It is the reporting entity's responsibility to keep business records. A "reporting entity" is defined as a banking corporation, a financial institution, an intermediary, or a person engaged in a specified activity or profession under the PMLA. ...

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Lapsed building projects haunt Mumbai homebuyers

Monday 13th March 2023

In the city's hot real estate market, a large discount provided in an underconstruction property is particularly appealing to a house buyer. Is it better to wait for a project to be completed and obtain an occupation certificate before purchasing a somewhat higher-priced flat? Particularly given the city's countless terrible stories of families who paid tens of lakhs or even crores to reserve flats but have been unable to take possession for years. A businessman who paid Rs 30 crore for a premium apartment in a central Mumbai skyscraper in 2016 is still waiting after the project was marred by FSI violations and litigation. A prominent builder, whose company has since divided into multiple groups, collected money from clients while guaranteeing them completed Kandivli flats within three years. After fourteen years, the project is still on hold, with only the skeleton of 13 of the 37 levels approved. People who paid exorbitant prices for the flats filed a lawsuit and a receiver was appointed. With the existing area decaying with time, "they are now gathering cash to get their flats erected from scratch. "For the time being, the court has allowed them to develop up to 27 floors," said housing campaigner Chandrashekhar Prabhu. According to Maharashtra Real Estate Regulatory Authority (MahaRERA) data, 988 projects in Mumbai have lapsed through January 2023. ...

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MahaRERA scam: Two architects who prepared plan layouts of buildings untraceable

Monday 13th March 2023

The Enforcement Directorate (ED) is investigating for two architects who developed and certified plan layouts for majority of the unlawfully constructed buildings in Kalyan-Dombivli. However, both architects provided incorrect information about their firms and are untraceable. The ED is conducting an independent investigation into the MahaRERA scandal, suspecting that the developers used black money to illegally construct these structures, causing revenue-related departments such as KDMC and the MahaRERA office to lose money. According to the sources, the ED identified the two architects of two firms, Golden Dimension and Vastu Rachana, who both generated most of the building designs and layout for the fraudster developers. ...

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Cabinet approves Odisha apartment bill 2023

Saturday 11th March 2023

According to reliable sources, the Odisha Apartment (Ownership & Management) Bill, 2023 was approved by the state cabinet chaired by chief minister Naveen Patnaik on Thursday. The cabinet approved the apartment bill in order to bring the legislation controlling housing projects in line with the Real Estate (Regulation and Development) Act of 2016. The bill requires the formation of associations of allottees of housing projects prior to the first selling deed of any unit in an apartment. The shared parts of the apartment, full property, staircases, and existing facilities were registered proportionally in the name of house buyers. The law will most likely be introduced by the government during the current legislative session. Hearing a PIL on the subject, the Orissa high court expressed hope on Monday that the state government would be ready with the RERA-compliant bill during the current session, which is due to end on April 6. Bimalendu Pradhan, a Bhubaneswar-based apartment owner, has challenged the legitimacy of the Odisha Apartment Ownership (Amendment) Regulations, 2021, claiming that they violate the Real Estate (Regulation and Development) Act, 2016. Mohit Agarwal, an advocate, argued on behalf of the petitioner. On May 12, last year, the high court put an immediate halt to the registration of unit sale documents when the builders fail to indicate transfer of common spaces in favour of the Association of Apartment Owners. The HC made it apparent that actual registration of sale deeds in which share of common spaces has been ceded to individual owners cannot be legally sustained because it is contrary with RERA Act requirements. ...

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Pune citizens clamour for speedy disposal of MahaRERA cases

Thursday 9th March 2023

With over 6,000 complaints lingering with the Maharashtra Real Estate Regulatory Authority (MahaRERA), citizens' groups have urged that cases be resolved quickly and that more adjudicating members be appointed to hear the pending cases as soon as possible. Last week, citizen groups wrote to chief minister Eknath Shinde and deputy chief minister Devendra Fadnavis. In his representation, Ramesh Prabhu, chairman of the Maharashtra Societies Welfare Association (MahaSeWA), stated that the chairman and another member handle 2,000 complaints every year on average. Citizen activists have pointed out that the position has been empty since MahaRERA member BD Kapadnis departed in 2020. They have also requested that cases in Pune and Nagpur be heard again. With Fadnavis as housing minister, campaigners are hopeful that more members will be appointed to expedite the resolution of cases. The representation was also forwarded to MahaRERA chairman Ajoy Mehta. ...

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MahaRERA probe finds 1,781 bank accounts linked to multiple projects, issues notices

Thursday 9th March 2023

According to a Maharashtra Real Estate Regulatory Authority (MahaRERA) inquiry, 1,781 projects breached the laws by tying their bank accounts to more than one project. The Real Estate (Regulation and Development) Act of 2016 requires all projects to have a single bank account with a single registration number. This is intended to ensure that all registered housing projects are completed without any monies being diverted. In response to these irregularities, the regulator has issued showcause notices to 45 such projects and is in the midst of mailing notices to the other projects. The regulator has made improvements to its systems to avoid the occurrence of such abnormalities in the futureAny effort to link the designated account of one project with the bank account of another project will be rejected by the updated system. Aside from that, the developer will be unable to update the mutual account under the new system. MahaRERA has issued a new rule requiring previous clearances for this alteration. ...

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Over 1,000 builders respond to MahaRERA show-cause notices

Thursday 9th March 2023

More than 1,000 of the 19,539 developers who received show cause notifications from MahaRERA in the last three months for failing to update project-related facts have responded. While some developers have informed the regulatory body that their projects have already been completed, others have stated that they will renew their projects within a month. According to a MahaRERA official, the figure will climb because many developers have still to react. Section 11 of the RERA Act requires registered project developers to update their details every three months. Developers must give project status, financial situation, booking statistics, annual reports, and other information. Although projects were registered, MahaRERA discovered that the developers were not giving information on the project's status. Breach of section 11 of the act can result in a fine of up to 30% of the total project cost imposed on the developer. The goal of releasing project status details every three months, according to MahaRERA officials, is to keep potential homebuyers updated. This also contributes to the development of trust between purchasers and developers. ...

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