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Guidelines for project registration in Karnataka
In order to prohibit builders to pass on the ownership to the buyers by registering the incomplete projects with the registration department, Bihar Real Estate Regulatory Authority (RERA) has asked the state registration department not to register any ongoing projects without RERA registration number. According to Afzal Amanullah, Bihar RERA Chairman “The registration of incomplete flats or apartments put the real estate buyers in a very disadvantaged position as the developers refuse to complete their obligations once the registration was done. Therefore, we have requested the registration department not to register incomplete projects and the projects which don’t have RERA number.” July 31st, 2018 is the last date to register ongoing projects with RERA Bihar with a late fee of Rs. 4 lakh or 400% of the registration fee, whichever is higher. Click here to get free assistance on registering real estate projects with RERA in Bihar. ...
Karnataka Urban development and housing department have issued notices to the developers of real estate projects which are not registered with Karnataka Real Estate Regulatory Authority (RERA). According to Karnataka Urban development and housing minister U T Khader, the government is planning to blacklist the projects of those developers who have not given satisfactory reply for the notice issued to them. RERA has received a total of 572 complaints against realtors for violating RERA rules, of which 221 are disposed of, he added. Contact us today to comply with RERA Karnataka rules. ...
From 1st August, aggrieved real estate buyers can file and track the status of their complaints with Maharashtra Real Estate Regulatory Authority (MahaRERA) right on its official website. The decision to digitize RERA complaint filing and tracking was taken after several meetings between RERA authority and relevant stakeholders. Furthermore, complainants are not required to submit the hard copies of the documents required for filing complaints. Instead, they can upload the same on the website itself. Also, the 60-day time frame of redressal of the complaint will commence the moment a complainant registers the complaint on the website and uploads the required documents. According to MahaRERA secretary Vasant Prabhu, the complaints against unregistered projects can also be filed and tracked by visiting MahaRERA website after verifying complainant’s mobile number. Also, the notices will now be sent to the builders’ mobile number registered with MahaRERA. These changes are carried out to inline the standard operating procedure for handling complaints and to simplify the process for both complainants and realtors. ...
The real estate regulatory body of Goa has issued show cause notice to two developers for promoting their project without RERA Registration number. The action has been taken on a complaint filed by Kashinath shetye against the builder. The notice stated that “if no reply is received within the stipulated time or reply given is not satisfactory action as deemed fit as per the provisions of the act will be initiated against you.” ...
HDFC ERGO launched its first ever title insurance policies on Tuesday making them India’s first Title Insurance Policies. Title insurance refers to insurance for the title of a real estate property and is mandatory according to the Real Estate (Regulation and Development) Act 2016, or RERA. This specialty insurance product provides indemnity to property developers and the subsequent owners of the property against losses and risks related to defects in property title arising out of third party challenges not discovered before the commencement date of the policy. ...
T mithra, who is now the additional secretary of the department, has been appointed as the new interim authority by the local self government (LGG) department. The move gives clear hints that the state may have to wait to get a fullfledged regulatory authority. Kerala is one of the eight states in the country that has failed to notify the real estate regulation rules on time and establish a web portal and the decision to have an interim body was in the wake of increase in complaints and litigations in the absence of a regulatory authority. ...
Mumbai Grahak Panchayat (MGP), a city based consumer body urged MahaRERA to bring property portals under its purview that’ll add to further increase in transparency and accountability in the real estate sector. In a letter to MahaRera chief Gautam Chatterjee, MGP said, "Real estate web portal companies operating in Maharashtra have to be treated as 'real estate agent' under Rera." It has also sought registration of such portals under MahaRera in the next 60 days. ...
Ghaziabad Development Authority(GDA) got a notice from UP Real Estate Regulatory Authority since it has failed to update projects on RERA website. The notice has asked GDA to complete the task of updating the projects by 6 July,2018. Crossing the given limit, GDA will be liable to harsh penalties. According to RERA rules, all development agencies and private builders are required to update their projects under RERA. But the GDA has failed to update the projects since May this year. ...
To empower citizens and aid them futher, Maharashtra Real Estate Regulatory Authority (MahaRERA) mapped 4500 projects out of a total of 16000 registered projects with Geographical Information System (GIS). This will enable the citizens to find minute details of homes of their choice just by selecting the option “view on map” on its website. ...
After a wait of almost 1 year, Telangana will finally launch its web portal for registration on 01 August 2018. The web portal will be developed and maintained by Mahaonline Ltd, a JV between Maharashtra government and TCS. The trial run has already begun for the Rera web portal and it will become functional on August 1,” MA&UD principal secretary Arvind Kumar said. Officials said Mahaonline will maintain the Telangana Rera website for three years and upgrade it as and when required. For real estate projects or development projects, the developers have to pay Rs 750 and real estate agents Rs 500 towards one-time registration charges apart from other fees. The amount will directly go to Mahaonline for maintenance of the website,” MA&UD officials said. ...
The Real Estate Regulator of Maharashtra has issued the letters to the state local authorities to do surveys on real estate projects not enrolled with the MAHARERA. This step ensures maximum registration of real estate projects operating in states.“We have written to almost all local authorities, directing them to conduct a survey of all realty projects in their areas. While the local authorities can take action against unauthorized projects, they will have to refer legal but unregistered projects to us. We had issued the letters last month and are yet to receive the details from them,” stated MahaRERA secretary Vasant Prabhu. ...
Property prices in Karnataka are set to go up with land title insurance, which is mandatory under the Real Estate Regulatory Authority (RERA), becoming a reality soon. Land title insurance is an insurance product that provides safety to builders and against any loss from defects in property title. Though RERA makes it compulsory for developers to get title insurance for all new and current projects, the state unit has not been able to implement the clause till now due to lack of insurance players in the market providing such a cover. But now, with a few products making headway, land title insurance will soon become a reality. ...
The Real Estate Regulatory authority has received a total of 92 applications from the district Coimbatore out of which 76 has been approved by TNRERA. Selvakumar said TNRERA had been sending notices to the realtors, who had not approached the regulatory body for approval. “We have so far sent 1,400 show cause notices to realtors across the state. Many of them have replied saying the projects were for their personal use and not for sale. In such cases, we will publish the details of the projects in our website stating the property is not for sale, with a warning that if people buy the property, it would be at their own risk,” he added. ...
In order to ensure developers don't sell projects without registration in RERA, state govt has put restrictions on sources of funding for projects until the project is registered in RERA. Interim regulator Kapil Mohan recalls many instances where unregistered developers come “sheepishly to register, once the funding stops.” Today, selling an unregistered property in Karnataka is an illegal act. “If such a transaction comes to the notice of the regulator and it is proved by secondary evidence that such a sale transaction has taken place, then penalties will be levied,” Mohan stated. ...
Maharashtra Real Estate Regulatory Authority (MahaRERA) gave a ruling that the authority can still adjudicate complaints even if it happened before RERA came into force. “Though the said cancellations were executed prior to the said Act (RERA) came into force, this authority is of the view that with monies paid by the complainants still lying with the respondent (developer), this authority has jurisdiction to adjudicate the complaints,” stated Gautam Chatterjee, chairperson of MahaRERA. ...
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