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Pointing out some of the loopholes in the RERA Act, 2016, the chairman of Haryana and Madhya Pradesh suggested to bring in more transparency by making necessary amendments into the original act. They portrayed that the duplicacy of jurisdiction for dealing with the grievances should come to an end. RERA should be the only place for dealing with the homebuyer’s grievances and any violations of provisions of this act. In order to keep its credibility, RERA must be given more powers to implement its decisions. ...
In order to fulfill the prime objective of the RERA Act, 2016 to give relief to all the stakeholders associated with the project, the MAHARERA has created unique resolution panels comprising of Consumer representative and a Developer representative. The panel will interact with banks, homebuyers, and builders who could potentially take over the project to complete it on time. With the motive to protect the consumers from the loss of decreasing prices of property which could be held under the right given in IBC rules a mid-way has been found by creating these panels. ...
The directions have been issued by the UPRERA to Noida and Greater Noida authorities to launch a forensic audit into the financial and landholdings of the 3C company. All the 21 projects launched by 3C shall be inspected for financial misappropriation for which the time period of 2 months has been given to the local authorities to submit their reports to UPRERA. All the housing projects introduced between 2010 and 2012 by the 3C company are yet to be delivered to the homebuyers. ...
In order to provide financial help to the stressed homebuyers and to improve liquidity issues for the promoters, the UPRERA is all set to propose the creation of a stress fund to complete the pending realty projects at its board meeting in Lucknow after which it is likely to send it to the UP Government. Knowing the huge count of flats that are pending where builders are in a financial mess the Government needs to enter this situation to help the cash-strapped builders with initial liquidity. ...
On the public interest litigation filed by a financial economist contending that the DDA has violated the real estate regulation laws by not registering its housing scheme of 2017 and 2019 with the RERA authorities, the Delhi High Court has issued notices to the RERA authorities and DDA (Delhi Development Authority) seeking their stand on the petition for which the next hearing is due on 19 November, 2019. The petition claimed that the DDA did not provide to RERA a copy of the authorized prospectus of the sanctioned plans of the projects under the two schemes. ...
Replying to the Supreme Court’s query on the status of implementation of RERA in states, the Centre reported the court that around 42726 housing projects and 33906 real estate agents have been registered under the RERA Act, 2016 and more than 20,000 complaints have been resolved under this Act till date. The process of RERA implementation is still under progress in states like Meghalaya, Nagaland, Sikkim. Around 29 states/ UT’s have set up the RERA Authority and 22 states/UT’s have set up the RERA Appellate Tribunal. ...
Out of total 3958 complaints registered with Karnataka RERA against builders, around 1174 complaints have been resolved comprising of 30% of the total complaints received. Still, 2700 complaints are being heard currently and will be resolved at the earliest. However, in about 150 cases buyers have withdrawn their complaints after working out a compromise with the builders. ...
A petition filed by the group of activists from Kolkata seeking an order to declare HIRA as ‘ultra vires’ as per the Constitution and to replace the HIRA with the RERA Act, 2016. Putting Article 254 of the Constitution as their main point they have clarified that if any provision of law made by the legislature of a state is in contravention to any provision of a law made by the Parliament, then the law made by the Parliament shall prevail, hence seeking to declare HIRA unconstitutional and void. Finally, the Supreme Court has agreed to hear a plea seeking direction to West Bengal’s HIRA with RERA Act, 2016. ...
As per the latest status report from the Ministry of Housing and Urban Affairs, even after 3 years of the RERA Act, 2016, Kerala remains the only southern state that neither registered a project nor disposed of any complaint in the realty sector. Also, any information about the report of the committee constituted to select the chairperson and 2 members of the RERA has not been disclosed. ...
To provide relief to the homebuyers, the Supreme Court recently has canceled the registration of Amrapali Group under RERA, thereby banning the real estate company from undertaking any housing project even in future. Therefore to complete the 42000 flats in various projects of the Amrapali Group, the state-run builder NBCC (National Buildings Construction Corporation Limited) has been engaged. Also, the court has ordered Money Laundering cases to be registered against the Amrapali Group MD and CMD. ...
Invoking Section 3 of the RERA Act, 2016, where a project registration is not required if either the developable area of the project is less than 500 sq meter or the number of units are less than 8, the MREAT (Maharashtra Real Estate Appellate Tribunal) has quashed 2 MAHARERA orders penalizing a developer for not registering his project. The MREAT order exempted the developer Geetanjali Aman Constructions from registering the project with the MAHARERA and also set aside the Rs. 30 Lakhs penalty imposed on the firm. ...
To provide speedy dispute redressal to the concerns of the promoters and the buyers the UPRERA Conciliation Forum authority heard a total of 16 cases in the 6th Conciliation Forum meeting held in NCR. It has resolved total 7 cases of Supertech. Apart from this, 3 cases related to Jaiprakash Associates, one case each of ATS Homes, Gaursons India, SVP Builders India, Arihant Infra Realtors, UP Township Infrastructure and Vacational Education were also heard. ...
After seeing the grievance status of the homebuyers despite the establishment of the RERA Act, 2016, the Supreme Court has taken a decision to know the status of implementation of the RERA Act, 2016 across all the states. Several states have proxy authorities in place and some of the states have not even constituted the Appellate Tribunal. The Court has witnessed an improper implementation of the RERA Act, 2016 in many states due to which it has demanded the list of all such defaulting states by 23rd July, 2019. ...
Using the powers under section 7 and 8 of the RERA Act, 2016 MAHARERA revives the project of construction of 20 storey Tatva Urja in Borivali East which was left by the absconded Mehul Choksi. The project will be resumed by Laxmi Infra Developers Ltd. The developer has agreed to complete construction within 9 months and will be given three months grace period to get Occupancy Certificate by February 2020 as per the consent terms. ...
DTCP (Department of Town and Country Planning) canceled 165 OC’s (Occupation Certificates) last month due to various illegal constructions. The district town planner ordered that the certificate will not be given till an assistant town planner-level official visits a site and gives approval that also has to submit a video of the site that is recorded during the visit. Any violation found in this regard will lead to blacklisting of the concerned architect. ...
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