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After granting an extension for 5 months, TN RERA granted an extension of another one month based on advisory of urban ministry of housing and urban affairs. "In the circular dated April 06, 2020, the validity of all registered projects and their completion period was extended by five months. Having regard to the advisory issued by the Union ministry of housing and urban affairs, the validity of registration and completion period of all the registered projects are further extended by one month over and above the period of five months already extended on account of 'force majeure' (unforeseeable circumstances that prevent someone from fulfilling a contract) due to pandemic," a TNRERA circular said ...
In an order issued dated 19.05.2020, Karnataka RERA stated that project deadlines have been extended by six months. The extension was given by invoking the “Force Majure” clause of the RERA Act. Revised certificates having revised deadlines will be issued soon by the authority. The order state that the project of which Quarterly compliances were due by 15 march has been extended up to 15 September 2020. ...
While addressing a webinar on the occasion of three years completion of RERA , housing minister Mr Hardeep Puri said effective implementation of the RERA will help in restoring trust between developers and buyers , besides ensuring that there are no defaults in the delivery pf projects.He also said that government has taken many steps to revive the Indian realty Sector from Covid 19.The minister said the government has extended the interest subsidy scheme CLSS for the middle-income group and announced the launch of a scheme to provide affordable rental homes to urban poor. ...
In Atamnirbhar package, govt announced the extension of credit linked subsidy scheme for the middle-income group (Annual income Rs 6 lacs- 18 lacs) up to 31 march 2021. The earlier scheme was available until 32 March 2020. This move will benefit around 2.5 lacs middle income families during the period 2020-2 creating an investment of Rs 70,000 crores in the housing sector. ...
UPRERA has started hearing buyer's complaints via video conferencing. Complaints will be heard daily for an hour from 3 PM. To avail, this buyer has register on UP-RERA website in advance.Complaint sessions will be held every week from Monday To Friday with 20 complaints each day. ...
MPRERA has decided to give six months extension to the project which were to completed on or after 15 march 2020 due to the corona epidemic. This decision is going to provide relief to 3000 developers across the state. In addition, on being applied, the six-month extension will be granted in cases of the registration, which ended before March 15 but the application for extension has not yet made to the Authority, the official said. MPRERA has also extended the QPR date from 31 March 2020 to 30th June 2020. ...
As per the latest notification by GUJRERA, builders will able to submit Quarterly Progress Report as per the financial Quarters. Presently, realtors have to submit their progress reports every three months from the month their projects are registered with the authority. For the April-June quarter of fiscal 2020-21, QPRs will be due to be filed by July 7, 2020, the authority said in a notification issued on Wednesday. The authority will also exempt defaulting projects (as on March 2020) from any regulatory action if QPRs for such projects are filed by July 7. ...
Due to Corona Pandemic, real estate developers said that they can adhere to the RERA rules. The NRI who are the backbone of real estate investment in Kerala are not able to come for handing over of projects or funds required for project implementation. The Confederation of Real Estate Developers' Associations of India (CREDAI) Kerala chairman S Krishnakumar said that the real estate sector is also concerned about job loss and salary cut. Krishnakumar said that the Centre should consider the prevailing condition in each state. “Amendments should be made in the RERA Act based on the circumstances in Kerala,” he said. ...
MAHARERA has decided to hear only urgent hearings during the lockdown periods till 17 May. MAHARERA is currently providing all its services i.e project registration , agent registration , complaint filing digitally. Working of authority from 18 may be decided only after directions from state and central govt. ...
Construction activity may resume in Noida and Greater Noida from mid-May, provided no further restrictions are imposed by the government, UP-Rera officials have said. However, as per the real estate developers, the pace will be slow due to less labour in Noida and Greater Noida.RK Arora, president of Naredco-UP, said, “We will have to work at one-third the capacity. At Supertech, we have 4,000 labourers who we hosted through the lockdown and took care of them with food and shelter, so they will be able to join work immediately. Social distancing norms will also have to be maintained.” ...
Realty firms are not able to access money from the government's Rs 25,000 crore stress fund to complete stalled housing projects, and all roadblocks should be removed for the success of this scheme, said Anthony De Sa, Chairman, Madhya Pradesh-RERA. Builders are unable to access this fund. We need to remove this bottleneck," he said, adding that some guidelines need to be issued by the Reserve Bank of India or the finance ministry in this regard. ...
Rajasthan realtors have requested the CM to grant extension of project till one year as industry has come to a halt since the corona lockdown. The demand has been sought after other states like maharashtra , karnataka and UP has granted extension of three months for project completion. ...
UPRERA will soon start grading of builders and developers. The contract of the same has been given to CRISIL. Rajiv Kumar chairman, UP-RERA, “RERA will assign grades to the projects and the promoters with a view to assist a prospective homebuyer while investing in a project. Through this grading the prospective homebuyers will have a beforehand knowledge of the credentials of the promoter and the quality of the projects under consideration”. ...
Maharashtra Real Estate Regulatory Authority (MAHARERA) has extended the period of validity for registration of all registered projects where completion date, revised completion date or extended completion date expires on or after March 15, 2020 by three months.MAHARERA has also issued a circular stating extension of time limits for all statutory compliances in accordance with the Real Estate (Regulation and Development Act 2016) and the rules and regulations made thereunder, which were due in March, April and May 2020 to June 30, 2020. ...
The Karnataka Real Estate Regulatory Authority (K-RERA) has approached the state’s housing department to finalise the model sales agreement as per central government rules.“The model sales agreement has been sent to the government and is expected to be notified soon. There were objections that has been looked into before sending to the state,” said MR Kamble, chairman K-RERA.The K-RERA that started functioning two years ago had faced delay in model sales agreement due to change in government and the absence of RERA chief in the state. ...
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