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Haryana RERA served a show-cause notice to Orris and Ansal Properties for not registering their ongoing projects namely wood view in sector 89-90 and Esencia in sector 67 respectively. The authority imposed a penalty of Rs 75 crore and Rs 106 crore respectively for non-registration of the project with RERA. The authority observed that the promoters have not obtained completion/part completion certificate for the project till date. As the project is underway, they should have been registered their projects with the authority within three months from the enactment of the RERA Act, 2016. ...
KRERA is likely to begin operations from 01 January 2020. K-RERA chairman P H Kurien said that the authority has already started receiving complaints from homebuyers.“All ongoing projects for which occupancy certificate is pending will have to be registered with RERA. We are waiting for more complainants to turn up. So far, we have only had 3-4 complaints,” said Kurien ...
Maharashtra tops the chart in the country when it comes to Rera registered properties and within Maharashtra. Over 90% of the projects registered with MahaRERA are based in Mumbai and Pune.The deployment of Rera across India is increasing as around 46,480 projects and 36,671 real estate agents have been registered under Rera as on November 2019. Maharashtra had 22,885 registered projects and 21,869 registered agents. ...
The Uttar Pradesh Real Estate Regulatory Authority has sent letters to 1227 realtors across the state informing them about the benefit of the stress fund scheme announced by central government recently."The step has been taken in order to ensure that the promoters of such projects are aware of the scheme so that the central government in November had proposed fund of Rs 25,000 crore to complete pending realty projects. Out of the total, the government infused up to Rs 10,000 crore initially and the rest is to be contributed by banks, LIC and other sources.the projects are completed, and the home buyers of such projects are able to get their home," said the authority in a media release. ...
A total of 1665 RERA Registered projects have been delayed by more than 5 years and are likely to complete after 2020 only.A total of 125 projects are delayed across Noida, Greater Noida and Gurugram markets, consisting of over one lakh housing units.Real estate developers in Noida owned the city authority a whopping Rs 10,200 crore in dues in 2017.Chennai has the lowest number of delayed projects (24) as well as units (11,679), primarily because the size of housing projects in this property market is comparatively smaller. ...
As per the data released by an official on Wednesday, there has been 91% increase in the number of projects registered under RERA Bihar. As of November 15 , RERA Bihar has enrolled 787 projects and has been ranked 11th among 25 states in the country. A total of 256 agents are registered in the state making it 12 largest in the country.RERA Bihar has disposed of 109 cases till November 15 and secured ranked 13th in the country. ...
Post one month of constitution of RERA in Kerala State, government has been forced to redo the selection process for the appointment of third member.C francis who was elected as one among two members has withdrawn from the post following which selection process has been initiated again. The state government constituted RERA in october with PH Kurien as chairman and Preetha P Menon and Francis as two other members.KRERA has yet to begin registration of new project and complaints as it has not recruited the staff. ...
Whereas, under Section 34 of the real estate(Regulation & Development) Act, 2016(hereinafter referred as the said Act), MahaRERA is vested with powers which includes the function to register and regulate real estate projects and to ensure compliance of the obligations cast upon promoters.Whereas, in exercise of the powers vested with MahaRERA under section 34 of the said Act,in order to ensure greater professionalism among promoters, being a certain level of consistency in the practices of promoters,enforcement of code of conduct and to discourage fraudulent promoters, MahaRERA vide its order No. 10 dated 11th October 2019, introduce the procedure of registration of Self – Regulatory Organization (SROs) of promoters,in the real estate in Maharashtra.Whereas, from December 1, 2019, through MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY(GENERAL) ( SECOND AMENDMENT) REGULATION, 2019, membership details of the promoter with MahaRERA registered SRO (Self Regulatory Authority) has been introduced as additional disclosure by promoters on the website of MahaRERA.Therefore, with effect from December 1, 2019, every promoter apply to MahaRERA for registration of their real estate project, shall have to mandatorily disclosure their membership details with a MahaRERA registered SRO. . ...
In a first-of-its-kind order since real estate regulators were established, the Gurgaon bench of H-Rera has ordered attaching 10 acres in Gurgaon and four plots in Noida owned by Three C Shelters and putting the same on sale to raise Rs 334 crore for completion of Greenopolis project in Sector 89, Gurgaon. The project has been delayed by more than four years. Passing the order against two builders, who partnered in the group housing project, the bench comprising chairman KK Khandelwal and members Samir Kumar and Subhash Chander Kush, said the warrant of sale of 10 acres of unutilised land in the project and four other plots will be sent to the district collectors of Gurgaon and Gautam Budh Nagar for quick action ...
As many as 40,000 complaints have been registered with the Real Estate Regulatory Authorities (RERA) in the entire nation, Durga Shankar Mishra, secretary, Housing and Urban Affair, Government of India, revealed on Sunday. It is time strict action was initiated against the defaulters through necessary changes in the original Act on the subject, the secretary observed while addressing chairmen of the authorities from 17 different states of the country came to attend a RERA conclave scheduled to take place in Lucknow. ...
With even individual homebuyers taking builders to bankruptcy court, rattled real-estate developers from Delhi-NCR are demanding that all consumer complaints first be heard by regulator RERA before insolvency proceedings are initiated.According to the realtors' apex body CREDAI, about 450 real estate companies/projects across the country are facing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) because of default in the delivery of projects to homebuyers as well as repayment of bank loans. ...
In the first of its kind order, the Real Estate Regulatory Authority (RERA) of Haryana’s Panchkula has asked a group of residents to take over a project and complete the remaining construction work. Over 100 residents of Faridabad’s Piyush Heights society have agreed to pool in R 8 lakh each to complete the project and move into their dream home.“It is a major relief for homebuyers, who were expecting completion by 2011 by could not get it as builder failed to complete the project. RERA suggested us to form an association and we should be ready to pay extra money if needed,” said MC Jain, president of J&K tower of Piyush heights ...
Real Estate builders will receive a rating from next year. This move will help investors in taking informed decisions. The grading, to be done annually, will be based on a developer’s track record and background, financial profile, construction quality, buyer feedback and legal status of the project, according to UP-RERA chair-person Rajiv Kumar. ...
Sanctity Hi-Tech has failed to deliver houses even after a long delay. The harassed buyers have approached RERA for refunds and cancellation. Sources said almost every customer has filed complaints against the developer and the final decision from UP-RERA is now awaited. "No development is seen at the site. Since Suncity has not started any development in this area, I am afraid that they do not have any intention of developing the plot and plan to dupe investors of their money", said a homebuyer, Varuna Gupta. ...
RERA goa panel has been reframed with retired IAS officer S Kumaraswamy as the chairman. Former IAS officer J B Singh and retired district judge PV Kamat have been appointed as members.RERA rules in Goa were notified on 24 November 2019. ...
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