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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. ...
The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has issued a show-cause notice to 10 promoters (5 from Delhi – NCR and 5 from Lucknow) for violating the Act by continuing with the construction and promotions of their respective projects even after their registration got lapsed.UPRERA’s Technical Team inspected the Promoter’s project sites to find out the details.Moreover, advertisements were given in the newspapers for creating awareness among Homebuyers. As per the statement, this is the violation of section 3 of the Act, under section 59 the promoter will be liable to a penalty which may be up to 10 percent of the estimated cost of the project. ...
TNRERA has slapped a fine of Rs 30 lacs for misrepresentation of facts at the time of registration and hence revoked the RERA registration of builder.The customer has alleged that the builder has provided false information at the time of registration from TNRERA for villa township project by projecting it as a layout. On hearing both the sides, TNRERA observed it was evident from the brochures and other documents that project “ Bloom “ is a residential housing project, not just a plotting project ...
Kerala RERA in its very first order ordered a builder to pay interest at 15% of the amount received from the buyer from the period starting from expiry of the agreed time of delivery till handing over of the apartment.As per the complainant, CR Subhash, he had entered into an agreement with the builder in 2014 to purchase an apartment 1,167 sq ft. It was agreed that the construction would be completed with all facilities on or before December 31, 2016.It directed the builder to register the project and complete the project and take an occupancy certificate within June 30, 2020 without fail. Further, it ordered that the builder shall pay interest at the rate of 15.2% for Rs 49.5 lakh starting from March 1, 2017, till the actual date of handing over the possession of the apartment ...
The Haryana Real Estate Regulatory Authority resolved around 70 percent of the 9,496 complaints it received in the last two years, an official said on Wednesday. The authority has resolved 6,598 complaints, said Haryana RERA , Gurugram, Chairman, K K Khandelwal. On a daily basis, authority receives 13 complaints out of which 9 are resolved by the authority. Speaking on the second foundation day of HARERA in Gurugram, Khandelwal said 509 penalty notices have been issued to those builders who have not complied with the provisions of the real estate law. ...
MAHA RERA through an interim order has revoked the registration of Dhanashree Developers after it failed to complete a housing project in Goregaon by the completion date June 30, 2019, and did not renew its registration as an ongoing real estate project. The registration was revoked under Section 7 of the Real Estate (Regulation and Development) Act (RERA). This is the second such project for which MahaRERA has revoked the developer’s registration. On October 22, 2019, MahaRERA had become the first RERA authority to use Sections 7 and 8 of the act to revoke the registration of DS Kulkarni Group in connection with the DSK Sadaphuli project in Pune. ...
UPRERA is all set to start ecourt from March 2 , 2020.The module is dedicated towards the digital way of inviting complaints, processing them through logical rules and disposing them in a timely fashion. The authority will continue the old complaint form till February 2, 2020 and from February 3, 2020 onwards complaints can be submitted only on new forms. ...
Kerala real estate Regulatory authority will hold its first hearing on complaints against real estate projects on February 5. More than 100 complaints have been received by the authority from buyers of projects which have not received an occupancy certificate. While a good number of complaints pertaining to delay in delivery, there are also complaints against builders for failing to deliver promised features regarding a project. Multiple complaints have been received against a single project itself and in other cases, individual complaints have been received. ...
The Maharashtra Real Estate Regulatory Authority (Maha-RERA) has ruled that open parking spaces fall within the definition of common areas in the Real Estate (Regulation and Development) Act, and hence developers cannot charge homebuyers for them. The ruling came during the hearing of a complaint by homebuyer Mahesh Shah against Sunny Vista Realtors and Persipina Developers, which is part of the Hiranandani Developers. MAHARERA member Bhalchandra Kapadnis directed Persipina to not charge any money if the parking space is open, and charge Rs 4 lakh if it is covered. ...
Karnataka may soon have the judicial powers, similar to what is given to the consumer forum. Taking a leaf out of its counterparts in Madhya Pradesh, Karnataka’s realty regulator is working on a draft proposal that aims to give more power to execute its own orders. Such an amendment to the Real Estate (Regulation and Development) Act 2017, many said, is critical for RERA as it’s unable to provide any immediate relief to the home-buyers from the defaulting builders. Over the last two years, RERA-K delivered over 1,900 judgments but most of the orders have remained on paper. ...
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