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Real estate Regulator of MAHARERA has slapped a notice to builders for not revising the project information in every three months as per the act. In last three months, only 35% of the developers have updated the project information. Clause 20 of the act says that details of every registered project need to be updated in every quarter in respect of work done and inventory sold. As per the notice of the MAHARERA, this will be decoded as breach or non-compliance. ...
RERA Bihar issued warning notices to ten real estate developers for promoting their upcoming projects without RERA Registration. As per section 3 of the act, every real project measuring more than 500 square meters or more than 8 units is mandatorily required registration under RERA. “Notice dispatched to ten projects should be considered as an example for other developers as well in the state “stated principal secretary Chaitanya Prasad Prasad.In Bihar, only one project is registered with RERA while five applications are in process. ...
Interim regulator of RERA Karnataka chairman Mr. Kapil Mohan clarified that cooperative housing societies come under the purview of RERA which cover 1577 housing societies in entire state of Karnataka. The RERA states that any co-operative housing finance society or primary co-operative housing society that constructs apartments or buildings is falling under RERA. RERA intends to bring forth transparency in the sector and shield the interests of the buyers while imposing severe penalties on errant builders. ...
In the recent judgment MAHARERA has asked developer Sheth group to forgo 5% balance payment to be received by buyer against full and final payment due to delay in possession. Developer has been instructed to give possession of the flat by 31st March 2018. 95% amount to be deemed as full and final payment received by buyer. "We are ready and willing to handover the possession of Neha Agarwal’s Flat on or before 31st March 2018. We are seeking clarity from the honourable court on the matter of the 5% due from the customer," Sheth Group said in an email response. ...
The Haryana State government has designated two chairperson each for Panchkula and Gurugram benches."These benches will be functional within first week of February"an official added. For Gurugram bench, Samir Kumar, a retired IAS officer, and Subhash Chander Kush, a former chief town planner, have been chosen. Anil Kumar Panwar, a retired district and sessions judge, and Dilbag Singh Sihag, also a former chief town planner are picked up for Panchkula bench. Officials stated that Gurugram Bench would be functioning from Public Work Department situated on Old Railway Road nearby District Court. ...
Government takes a huge step by granting Rs 21,000 crore for affordable housing. This affordable housing drive intends to construct 5.1 million rural houses in FY 2019 in addition to 5.1 million houses being constructed this year. Other sector such as Steel, Cement, Paint will surely get a lift from this step. The plan of action is to extend interest subsidy to the rural households that doesn't fall under PMAY. Government will give 3% interest subsidy for 20 years loan component up to Rs 2 Lakhs. A dedicated fund for affordable housing in national housing bank is to be created for the same. ...
The realty regulator of Tamil Nadu has published list of 40 ongoing projects in Chennai which are not available for sale for buyers .Promoters of these projects received legal notice from TNRERA to get themselves registered with RERA as they are in scope of RERA act. Promoters clarified to TNRERA that these projects are meant for self use only.Thus units are not eligible for sale to general public. Section 3 of the RERA states that Promoter of the ongoing projects who have not registered with RERA are not allowed to sale any stretch of the project . Buyers cannot make purchase from these 40 ongoing projects in Chennai. ...
MahaRERA was cogitating upon how to prevail over any realty sector problems. Hence, in the middle of January 2018, MahaRERA decided to form one forum of 33 conciliators, who would bear the responsibility of resolving all kinds of real estate disputes in their initial phase. To acknowledge such problems, 5 conciliation benches of this authority will become operational on the very first day of February. These benches are only in Pune right now and will start their work on 1 March. Rest 10 conciliation benches will be in Mumbai only and “when will they start hearing cases!” is not decided yet. ...
In the recent judgement, MAHARERA expressed that Real Estate Regulation and Development Act ,2016 is not applicable on lease transactions. MAHARERA set aside the case of Jitendra Tulsiani who filed a complaint against “ Lavasa Corporation’s Brookview project at Lavasa city in Dasave in Pune claiming delay of possession by the developer. Bhalchandra Kapadnis, Member, MAHARERA, stated that the agreement signed between Tulsiani and the developer was an “agreement to lease of apartment”.However section 2(d) of RERA defines allottees and clearly excludes person to whom apartment is given on rent. Since the complainant has agreed to take an apartment from respondents on lease, MahaRERA does not get any jurisdiction to adjudicate upon this complaint,” he said. ...
Gujarat government was lagging behind the rest of the states in introducing its RERA website. On the other hand, other states were taking the lead in the registration process. Notwithstanding, it doesn’t make this Gujarat state any less in the same process. RERA registration in Gujarat started on 10th July 2017 and right from then, it has completed registration of almost 1426 projects and approx 410 agent registrations. ...
3 weeks back, a drive was started off by RERA Karnataka to draw builders’ attention on their non-registered projects and to extract details of these projects. Now, within a month; builders from Karnataka have given prompt reaction to RERA Karnataka’s stringent action of putting 780 real estate projects on its website under the warning disclaimer. Several clarifications and required documents have been provided by these builders to RERA authority. Now 623 projects, out of 780, have been removed from RERA Karnataka’s web portal and 148 new projects have been added to that category. Therefore, this makes a current total number of projects 305. ...
Tamil Nadu Real Estate Regulatory Authority (TNRERA) will be going to appoint a chairperson and two other officials shortly. S. Krishnan (Principal Secretary (Housing)) has been assigned as the authority on the temporary basis. Right now, a former judge of the High Court, B. Rajendran is functioning as the chairperson of the Real Estate Appellate Tribunal and Andaman and Nicobar Islands will come under the jurisdiction of both RERA and this Tribunal. The main concern of this authority is to appoint only those who have “no financial interest” and “persons of integrity beyond question”. ...
TNRERA has generated data on its web portal which stated that 28 new housing projects have been registered by this authority till 18 January; additionally, 18 projects, out of 28, are from Chennai and its peripheries. Therefore these new projects have taken the number of housing projects to more than 300 since the inception of this authority which was on 22 June 2017. ...
Residents from Haryana got a sudden burst of happiness as a temporary H-RERA’s (Haryana RERA) Gurgaon office will start its functioning from February 1, 2018, but, above all, permanent office will come up after 6 months. This temporary office will have different wings like; legal, administrative, accounts, complaint and registry. Apart from these wings, H-RERA will also be headed by a session’s judge. Functioning of this authority will be carried by 52 officials initially and this number will get higher with each passing days. For resolving one particular issue, H-RERA would take maximum 60 days time period. ...
Great relief to builders and promoters has been given by Uttarakhand government. The state government decided to not to charge late fees. Prior to this scenario, builders and colonizers had to register themselves until 30 September 2017 to avoid extra charges. But now the deadline has been extended up to 28 February 2018. In another case, ambiguity arose because of the implementation of GST as traders were not very clear about this concept and got confused. Nevertheless, traders heaved a sigh of relief as the last date for filing their annual return has been extended by a period of 3 months. The deadline for the traders will be 31 March 2017. ...
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