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After the big step of demonetisations, the PM Narender Modi’s next big step on Real Estate is to link “Aadhar” with properties because there is the heap of black money in immovable properties. It is informed by the Union Cabinet Minister that ‘Aadhar Linkage’ with property transactions would be made mandatory. Union Housing Minister Hardeep Puri Said, linking “Aadhar” with properties is such a great idea to draw up the black money from real estate and it would also help to crackdown the benami property, but yet now he is not going to make an advanced announcement on that because they take some additional steps towards it. According to Mr.Puri , transactions between two persons can’t be completely transparent but it could be monitored large value transactions such as property and air tickets. ...
Last week, the Bombay High Court (HC) told, MahaRERA announces in his official order that Landowners (Co-promoter) equally liable as that of the Builders (Promoter) as under the Real Estate Act, 2016. MahaRERA declares in his order that the land owners as the co-promoter who executed the agreement with the builders (promoter) of a real estate project are entitled to share the total revenue that will be generated from the sale of apartments in the project or in the terms of constructed project. ...
On Tuesday, The Chairman of UP-RERA, Mukul Singhal and principal secretary of housing & urban planning held a meeting with builders, buyers and officials in Noida Sector 6, for clear out the confusion over the carpet area issue. During the meeting, Mr. Mukul Singhal said that the projects should be done on the ground of the Carpet area and he will also discuss this issue with the officials of UP stamps and registration department. If the properties registration continues on the basis of the super built up area the buyers have the right to plead a file in the Allahabad High Court. For removing this flaws and executing RERA in UP more efficiently, the RERA has also started drafting “Agreement for Sale” for buyers and builders. ...
The Executive Director of Haryana RERA committee, Dilbag Singh Sihag has recently said that the official website of the Haryana RERA Authority will be launched by 31st December 2017. On the formation of a proper RERA Authority, he informed that the Authority is in the final stage of its formation and will be made in the next 15 days. The delay in the website will be a big disappointment for promoters as well as homebuyers of Haryana as they had been expecting the launch of the website by this month itself. ...
The Tamil Nadu Real Estate Regulatory Authority has reported a defect in the real estate Act that benefits builders against the provisions of the Act. The RERA Act makes it compulsory for the builders to deposit 70% of the amount received by homebuyers in a separate account. However, the TN RERA Authority informed that there is no mechanism to supervise the accounts of the developers yet. The only way RERA Authorities can interfere is when there is a complaint filed by homebuyers for misuse of funds against the developer. ...
Kapil Mohan, Chairman of Real Estate Regulatory Authority of Karnataka, addressed the state real estate developers in a workshop on Wednesday. He informed the builders of strict actions to be followed against promoters who have not registered their ongoing projects with the Authority yet. The builders of the state are unhappy about the huge penalties that have been imposed by the Karnataka RERA Authority. Until now, a total of 1,656 projects have been processed and around 730 projects have been approved by the Karnataka RERA Authority. Around 900 project applications are in the process of approval. ...
The homebuyers in Uttar Pradesh have alleged that builders of the state are still selling flats on the basis of super area even after the implementation of the Real Estate (Regulation and Development) Act. The RERA Act does mention that from now onwards, carpet area must be declared for more clarity. Addressing the issue, the Chairman of UP’s RERA Authority, Mukul Singhal held a meeting with buyers and builders. He ordered the builders to transparently disclose the carpet area and follow all the provisions regarding the carpet area under the RERA Act. ...
Manohar Lal Khattar, Chief Minister of Haryana has said that the names of elected chairpersons and members of the RERA Authority of Haryana and Gurugram, will be named in a short time. The CM had in the past promised to make the RERA Authority of the state by October, which has been past due. There is no proper RERA Authority in the state of Haryana yet. A total of six months has passed now since the implementation of the Real Estate Act in the country. Haryana has been following an offline procedure to register projects and agents until the Authority is made. ...
The Chairman of Uttar Pradesh’s Real Estate Regulatory Authority, Mukul Singhal, reported on Tuesday that the UP RERA Authority has received around 900 valid complaints and that they are being overlooked now. Mukul further said that the Authority started working on these complaints from 13th November and each of the complaints will be dissolved within a month and a half. Out of the total 900 complaints, more than 600 are regarding projects from the district of Gautam Buddha Nagar, UP. ...
According to survey and research by Liases Forras, the Non-Profit firm ‘Fight for RERA’ has reported that approximately 30% of under-construction flats are delayed by two or more years. Addition to that, nearly 62% of housing projects are running late. These surveys are for around 50 cities of the country. In Maharashtra itself, 5.3 lakh flats in ongoing projects are behind time. ...
In the recent ongoing RERA Case, the lawyers from both the ends have appealed the court to amend the provision which makes it mandatory for projects that have given possession but without an Occupation Certificate should be registered under RERA. Estimated by a lawyer, such projects are at least 50,000 in Maharashtra itself, and registration of them all under RERA will affect the working of the Authorities for under construction as well as new launch projects. The lawyers have further suggested that these cases should be overlooked under the MOFA (Maharashtra Ownership Flat Act). ...
The Real Estate Regulatory Authority of Rajasthan is set to act upon projects that have not provided complete details or documents in the registration application. The RERA Authority, Raj-RERA will send notices to these promoters, which are currently 200, and issue a final period of seven days to make the corrections, for which they’ll have to provide the complete documents or details along with the penalty payment. Otherwise, the project application will be rejected the registration and also the project will be stated ‘illegal’. ...
The Gujarat Real Estate Regulatory Authority, GujRERA, has registered a total of 673 projects since the implementation of the Act in the state. The final notification of RERA rules was given by the Urban Development Department on 29th October 2016. The registrations were started in May 2017. The Gujarat RERA Authority is headed by Dr. Manjula Subramaniam. In addition to this, the state RERA Authority has also registered around 280 real estate agents. ...
Abhay Singh Chautala, the leader of opposition party INLD in Haryana has recommended the current Chief Minister, Manohar Lal Khattar, to not elect ex-officials who have been in controversies surrounding land deals in Haryana for the post in RERA Authority. The Government of Haryana has already shortlisted four members for the posts of two chairpersons for RERA offices in Gurugram and Panchkula. These names have been picked by a special committee of a high court judge and principal secretary of Town and Country planning. ...
In a recent workshop at CREDAI Mangalore, the real estate developers have opposed the penalty provisions of the Karnataka RERA rules regarding the delays of projects. In case of unavoidable delays like late approvals of certain documents by government or water crisis that occurred the previous year, the construction was put on hold. All these factors were not taken into account while notifying the final rules of the Act. This forced the then ongoing projects to register with RERA from May, this year. Further, homebuyers can complain against any builder for delayed possession, which will result in additional penalties on the developers of the project. ...
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