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Penalty of Rs 3,00,000 levied by TSRERA on ongoing builder projects

Thursday 18th April 2019

As per the TSRERA rules, projects which are approved on or after 01-01-2017 by the competent authorities are to be registered with TSRERA. The deadline to register the projects without penalty was 31.08.2018. TSRERA has one more time extended the date for accepting the application for registration of ongoing projects to 30 april 2019 with a penalty of Rs 3,00,000. If the builder does not agree to pay the penalty his application shall be processed as per the provisions of Section 5(1)(b) of the Real Estate Regulation and Development act 2016. ...

Scheduled Banks notified by UP-RERA to strictly comply with RERA Act

Thursday 11th April 2019

With the main aim to circumspect the separate accounts of developers and promoters, Uttar Pradesh Real Estate Regulatory Authority (UP- RERA) has issued notices to zonal heads of 42 Scheduled Bank along with the Director General, UP Directorate of Institutional Finance asking them to strictly comply with RERA Act. ...

RERA penalizes 300 developers in Gujarat

Wednesday 10th April 2019

As a repercussion of failing to file the mandatory quarterly progress reports over the last nine months, more than 300 promoters and developers have been fined by Gujarat Real Estate Regulatory Authority (GujRERA) across Gujarat. A fine of â‚¹50,000 has been levied by the authority on almost all the developers for non compliance with the Authority’s orders. ...

Supertech got issued by H-RERA for selling projects without permission

Wednesday 20th March 2019

Troubled developer Supertech initiated the sales for four registered projects without due permission from the authority. As a repercussion, it has been issued a showcause notice by Haryana Real Estate Regulatory Authority( H-RERA). The developer is directed to respond to the notice within a week by the authority. Under sections 15(1) and 61 of the Real Estate (Regulation and Development) Act, 2016, a developer has to seek permission from the authority before it can start selling a project. ...

Experts postulate: RERA yet to fix malpractices in real estate sector

Wednesday 13th March 2019

Real Estate Regulatory Authority (RERA), implemented with the ostensible purpose to bring about transparency in the real estate sector, is yet to consummate its goal. The body lacks adequate amount of bandwidth required to look over the details of over 19,000 registrations that were granted by the body in the state uptil now. The adjudicating officers themselves have powers to look at only certain sections of the act, while the main powers are bestowed only upon the members. ...

Karnataka RERAâ€™s new chairman- MR Kamble

Wednesday 6th March 2019

The vacant place of the chairman of Karnataka Real Estate Regulatory Authority (K-RERA) has been filled as MR Kamble, a retired IAS officer, has recently been appointed as the new chairman of K-RERA. K-RERA embodied a three member team who appointed the new chairman of the Real Estate Authority apart from setting up a tribunal with the high court judge as a part of it. ...

6 IAS officers in 19 months: recurrent switches results in RERA-Karnataka ineffective

Tuesday 5th March 2019

With the purpose of aiding the homebuyers and making the real estate sector more transparent, RERA laid its foundation in the state of Karnataka almost an year ago. Such a purpose has received a setback due to frequent transfers of officers rendering the authority toothless. The institution also lacks the mandatory authority comprising a chairman and two members. ...

Only 5% Real Estate Agents registered under RERA in Punjab

Tuesday 5th March 2019

Its been more than almost 1.5 years that RERA laid its foundation in the state of Punjab but only 5% of the real estate agents of the state have registered themselves with the authority. With the state having more than 30,000, only a minute section of 1,461 agents have been registered. However, RERA Act mandates all property agents to register themselves with the authority. Therefore, RERA-Punjab is all set to send notices to all the unregistered agents. ...

Skyline Construction to refund money for late possession, orders MahaRERA

Saturday 2nd March 2019

The developer Skyline Construction Co, part of the RNA Group has been directed by Maharashtra Real Estate Regulatory Authority (MahaRERA) to not only refund a sum of Rs. 1.06 crores but also 10.55 per cent interest and stamp duty of Rs 6.65 lakh to a renowned bollywood face, Vrajesh Hirjee for delayed possession of a flat in the RNA Exotica project in Goregaon. ...

GST On Under-Construction Flats Slashed Down To 5% And Affordable Housing To 1%

Monday 25th February 2019

The GST Council has slashed down the tax rates for under-construction flats to 5 per cent and affordable homes to 1 per cent with the main aim of augmenting the demand in the real estate sector. The amendment will come into effect from April 1. At present, the goods and services tax (GST) is levied at 12 per cent with input tax credit (ITC) on payments made for under-construction property or ready-to-move-in flats where completion certificate is not issued at the time of sale and for affordable housing units, the existing tax rate is 8 per cent. ...

More than 1000 developers keep ignoring Karnataka RERA notices

Sunday 17th February 2019

More than 1000 real estate projects in Karnataka have not been registered up till now despite frequent notices being sent to the builders by the authority. The promoters/developers have turned a blind eye to all the notices by RERA. ...

West Bengalâ€™s Hira challenged by homebuyers in SC

Tuesday 12th February 2019

A group of home-buyers filed a petition in Supreme Court Of India challenging the constitutional validity of West Bengal Housing & Industrial Regulation Act 2017 (HIRA). SC has asked the state to file its reply within a fortnight. By bringing in its own Real Estate act- HIRA, West Bengal is the only state that has not implemented the Real Estate Regulation Act (RERA). ...

51 builders received notices by BiharRERA

Saturday 9th February 2019

51 builders in Bihar have received show-case notices by Bihar Real Estate Regulatory Authority (RERA)for advertising, promoting and selling their ongoing projects without registering them with the authority. The notices have been issued under Section 3 of the Real Estate (Regulation & Development) Act 2016 for violating the provisions. The authority has also decided to levy Rs. 10 lakh of penalty along with the project registration fee. ...

After more than an yearâ€™s delay, Tamil Nadu RERA Chief appointed

Saturday 9th February 2019

After an exorbitant delay, K Gnanadesikan has been appointed as the chairperson of Tamil Nadu Real Estate Regulartory Authority(TNRERA). Gnanadesikan will oversee all the affairs after taking over S Krishnan, secretary of the housing and urban development department, who was also serving as the interim chairperson of the regulatory body. ...

RERA Rajasthan appellate tribunal still just on papers

Wednesday 6th February 2019

After almost 01 year and 10 months of RERA enactment, RERA Rajasthan has not started hearing cases from the buyers. A senior official at RERA said, “Since May, no case was heard at RERA. Rajasthan government had earlier appointed additional chief secretary (ACS) of urban development and housing (UDH) department as the head the RERA. But as per the act, it is mandatory that after one-year complaints can only be heard after constituting full-fledged authority and appellate tribunal,” he said. However, in absence of appellate tribunal, there is still a long way for consumers and no sigh of relief. ...

Penalty of Rs 3,00,000 levied by TSRERA on ongoing builder projects

Scheduled Banks notified by UP-RERA to strictly comply with RERA Act

RERA penalizes 300 developers in Gujarat

Supertech got issued by H-RERA for selling projects without permission

Experts postulate: RERA yet to fix malpractices in real estate sector

Karnataka RERAâ€™s new chairman- MR Kamble

6 IAS officers in 19 months: recurrent switches results in RERA-Karnataka ineffective

Only 5% Real Estate Agents registered under RERA in Punjab

Skyline Construction to refund money for late possession, orders MahaRERA

GST On Under-Construction Flats Slashed Down To 5% And Affordable Housing To 1%

More than 1000 developers keep ignoring Karnataka RERA notices

West Bengalâ€™s Hira challenged by homebuyers in SC

51 builders received notices by BiharRERA

After more than an yearâ€™s delay, Tamil Nadu RERA Chief appointed

RERA Rajasthan appellate tribunal still just on papers

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