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Due to primary 2 reasons Mohali district tops in the RERA Registration of the real estate projects having 60% share with maximum no. of registrations at 447 out of the total of 747 registered projects till 16th August, 2019 in RERA Punjab followed by Ludhiana (13% share) and Patiala (5.75% share). Firstly the maximum no. of real estate projects is in Mohali district. Secondly, awareness among the Tricity customers is very high. Also due to exorbitant prices in Chandigarh, the buyers are turning to Mohali for their housing needs as it has all the required infrastructure and facilities of a tier-II city. ...
Even after 2 years of implementation of APRERA, developers continue to be less active. APRERA has over 300 RERA approved projects as the developer claims that unrealistic clauses in the Act have forced them to shy away from getting the mandatory approval from the RERA Authorities. Therefore due to inactiveness of developers APRERA has decided to take action against developers who do not fulfill RERA criteria. ...
Over unpaid arrears of RERA and laborers, UPRERA allegedly seized Rohtas building’s office in Lucknow, UPRERA. As per sub-divisional magistrate, the owner of the building is absconding. Due to non-recovery of arrears amount of Rs.63 Lakhs and Rs. 999,000 towards RERA and laborers respectively building has been seized. The stern action has been taken against the builders as even after issuing several notices this seizure has been done. ...
Out of the total 16 cases filed against the builders in the 8th Conciliation Forum meeting, UPRERA resolved 11 cases in its recent meeting. 10 cases which have been filed related to Supertech, 7 cases have been resolved and the rest complaints were related to APV Realty, Gaursons Promoters, Strategic Developers and Mahagun were too resolved. More than 600 conciliation requests have been received till date in the NCR Conciliation Forum. ...
Responding to the petition filed by Raheja developers challenging the order of NCLT to initiate insolvency proceedings on a petition filed by home-buyers, the NCLAT has directed the realty firm to settle its dispute with the home-buyers. NCLAT bench directed the IRP not to issue any public notice and also not to constitute a committee of creditors. Homebuyers are now considered as financial creditors under the IBC, 2016. The NCLAT directed to list the appeal filed by realty firm on September 3, 2019 for orders. ...
Over the alleged non-usage of External Development Charges, the HRERA claims that it will look into penalizing the Government in the near future for the same. HRERA Chairman agreed that currently, RERA is not a complete code to oversee the Indian Real Estate Sector. There are major defects which need to be sorted out like variations in the decision of state RERA Authorities has created a lot of confusion, Section 80 of the RERA Act, 2016 dealing with Cognizance of Offences need to be dealt with. ...
In order to avoid an overlap with the proceedings in the NCLT and other courts, UPRERA moved out of 2 stalled housing projects in Noida and also withheld 55 notices filed by homebuyers. UPRERA member said the limited powers granted to RERA needs a relook and few changes to make the regular more effective. If there is an overlap in a case where a project needs to be taken over and driven to the completion, the NCLT and other courts proceedings will prevail. ...
Invoking Section 18 of the RERA Act, 2016 MAHARERA directed Epitome Residency to refund, with interest, almost Rs.2.4 crore for a flat booked on the 43rd floor of Imperial Heights Tower C in Goregaon for the delayed possession. To provide relief to the buyer, the argument of builder’s lawyer convincing that the delay reasons were beyond his control to issue the OC were also put down by MAHARERA. ...
Provoking Section 7 of the Insolvency and Bankruptcy Code 2016 NCLT has initiated a corporate insolvency resolution process against Raheja Developers. The builder was not able to supply the basic amenities like the supply of water. Hence, NCLT admitted buyer’s petition and ordered the builder to supply these amenities. To initiate the proceedings the buyer has been ordered to deposit Rs.1 lakh to the IRP to meet the expenses to perform the function within 3 days of the order. ...
To address issues between aggrieved consumers and developers and ensure timely completion of projects the MAHARERA will soon have 27 Conciliation panels across the state. Currently, 15 conciliation panels are in operation- 10 in Mumbai and 5 in Pune. The additional 12 panels will soon be launched for Pune, Thane, Navi Mumbai, Nashik and Nagpur. The panels comprise a consumer representative and a developer representative who interact with banks, homebuyers and builders for the timely completion of the projects. ...
A housing society in Vidyavihar has been declared as a co-promoter of the project by MAHARERA where the society has been penalized with Rs. 15 lakh for violation of Section 15 of the RERA Act, 2016. Section 15 states that prior consent of two-thirds of flat buyers and written approval of the authority is mandatory before transferring development rights. Revoking HC order MAHARERA held that since the society executed an agreement with the builder for the construction of a new building by demolishing the existing one and sell additional flats, it comes under the definition of the promoter. ...
Around 100 ghost realty projects have been identified by UPRERA authority, which builders have abandoned leaving homebuyers and investors with no hope in sight. The authority has asked the Noida, Greater Noida and Yamuna expressway industrial development authorities to identify more such projects because the deadline to approve maps of these realty projects' building maps has elapsed. UPRERA wants the local authorities to conduct a survey to determine the actual number. ...
GDA was served with a notice by UPRERA over its failure to appear before the regulator in a case related to the Indirapuram housing scheme for the economically weaker section. The UPRERA bench has threatened the GDA officials to pass an ex-parte order if they do not appear on 29th August, 2019. As per RERA Rules, all development agencies and private builders are required to update their projects so that they can be accessed easily by the buyers and the status of the projects are in the public domain. ...
UPRERA Chairperson clarified that the single window system will be launched in mid-September. Citizens and developers would be able to get maps approved, lodge complaints and secure progress reports and no-objection certificates for projects. All information about the facility will be made available online. Citizens will also be able to file complaints in case builder is delaying possession of a unit and also seek information about promoters. ...
In an event organized by industry chamber PHDCCI, Gurugram RERA Chairman asked companies to make suggestions to the Government for necessary amendments to RERA Act to make it dispassionately objective for both builders and home buyers. In the current format, several sections and sub-sections of the Act are contradictory in nature and are open for many legal interpretations and therefore an amendment to them is necessary to get a fair deal so that the intended growth of the sector is ensured. Hence, the law should be amended to plug loopholes and make it more effective for the interest of all stakeholders. ...
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