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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. ...
The fee for filing complaints with the Tamil Nadu Real Estate Regulatory Authority (TNRERA) has been hiked. According to a circular on Tuesday, Rs 1,600 should be paid for filing complaints with the authority under Section 31 of the Real Estate (Regulation and Development) Act, 2016 wherein Rs. 1000 is the actual fee and Rs. 600 is the postage charge that has to be submitted online. The fee revision comes into immediate effect. ...
India’s youngest state, Telangana is all set to implement RERA (Real Estate (Regulation and Development) Act) within the fortnight. Triumphant testing of the T-RERA web portal powered by Mahaonline is almost complete and the registrations will begin by July 1. Mahaonline is a joint venture of the government of Maharashtra and India's largest information technology firm, Tata Consultancy Services (TCS). Once registrations under RERA officially begin, Telangana will become the 14th state in the country to have a functional web portal for project registration. ...
The chairman of the Maharashtra Real Estate Regulatory Authority (MahaRERA), Gautam Chatterjee, is all set make title insurance obligatory for registered developers. This comes after insurance companies express interest in providing title insurance for the real estate projects. Though the RERA had made land title insurance mandatory for developers, the state unit was not able to implement the clause right away as there was no insurance player in the market providing such a cover. With that changing, Chatterjee has sought a detailed proposal and will soon announce an implementation date. ...
To ensure better construction quality, for the first time MahaRERA will provide skilled labour training certification. The authority will certify trainers to train workers for the real estate industry. The training will help the labour force deliver projects of better quality, which will eventually be graded wherein consumers can access the grades given to the projects on the MahaRERA website. ...
Andhra Pradesh has finally launched its official RERA website for RERA registrations after almost an year of being notified. The website got an overall 49 applications for RERA registrations out of which only 8 projects have been approved by the regulatory authority and rest are still under surveillance. ...
The Bombay High Court on Monday asked the state to explain what regulatory mechanism it proposes to ensure that complaints from buyers in unregistered real estate projects are adjudicated. The high court directed the state to file its reply to a petition that has challenged lack of a policy to deal with conflicts that arise between buyers and builders in cases where developers have not registered their projects under the Real estate Regulation and Development Act of 2016. ...
The Maharashtra Real Estate Regulatory Authority (mahaRERA) has in the last two months issued recovery warrants against developers who failed to comply with its orders to refund home buyers under Section 40(1) of Real Estate (Regulation and Development) Act. MahaRERA adjudicating Officer BD Kapadnis stated that “Despite the notice, respondents have not appeared to explain why the order has not been complied with. So, it is necessary to issue recovery warrant under section 40(1) of RERA instead of proceeding under Section 63 of the Act. Hence, the recovery warrant is issued and it is being sent to the Collector,” ...
A team from centre will soon be sent to West Bengal to persuade the government to switch over to the Real Estate Regulatory Act (RERA) to protect home buyers' interest. Recently, the Mamta Banerjee Govt. brought her own Real Estate Act, HIRA (Housing Industry Regulation Act) superseding the central govt.’s RERA wherein it diluted RERA and brought in its own act. ...
Ten housing projects outside the purview of the Chennai Metropolitan Area (CMA), which were exempted by the directorate of town and country planning (DTCP) from registration under the Real Estate Act last year, would face the repercussions for not delivering apartments to buyers in time. Following a complaint from a homebuyer, The Tamil Nadu Real Estate regulatory Authority (TNRERA) has issued a notice to one such developer on OMR for not completing the constructions leaving the consumers in a state of perplexity. ...
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