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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 ₹50,000 has been levied by the authority on almost all the developers for non compliance with the Authority’s orders. ...
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. ...
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. ...
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. ...
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. ...
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. ...
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. ...
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 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. ...
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 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 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. ...
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. ...
In an order dated 31 January 2019, The TSRERA has yet again extended the deadline for accepting an application for ongoing project registration till 15 February 2019 with a penalty of Rs 2,0,000.As per the Telangana state Real estate (Regulation and development act ) 2017 the projects which are approved on or after 01-01-2017 by the competent authorities till 31 August 2018 are required to register with TSRERA as an ongoing project. As per Section 3(1), it is mandatory for real estate projects to register with RERA before sale or marketing of the project. ...
In a recent complaint against Pacifica Aurum Villas project promoted by Sylvanus Builders and Developers Ltd in Pudupakkam on Vandalur-Kelambakkam Road, TN RERA directed DTCP to conduct further investigation and it was concluded that project was incomplete and seven villas were not developed. Moreover, construction for the 120 EWS units was yet to resume, contradicting the certificate issued by the structural engineer,” a TNRERA official said. The structural engineer for the project had certified that the project, with 378 villas and 120 units in the Economically Weaker Sections (EWS) block, had been completed as per the approved plan. TNRERA demands stringent action against the engineer. ...
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