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Guidelines for project registration in Karnataka
The RERA Authority of Karnataka has recently issued a notice regarding penalties that will be imposed on all the promoters of ongoing projects for delayed registrations. Penalty for August, September and October has been provided by the Authority separately. Following are the dimensions of the penalty which will be in addition to the regular registration fees: August – 100% of the registration fees September – 200% of the registration fees October – 300% of the registration fees For more clarity, ongoing projects with a registration fee of Rs 10,000 registered in the month of August will have to pay Rs 10,000 extra as penalty, bringing the total fees to Rs 20,000. Similarly, the same promoter will have to pay a total fees of Rs [10,000 + Rs 20,000] in September and Rs [10,000 + 30,000] in October. This will be a big blow to all the real estate developers in the state and will enforce all promoters of ongoing projects not registered to register at their earliest. ...
The Karnataka Government will soon notify the rules on the Agreement for Sale which will protect the rights of homebuyers and ensure them of proper deliveries of their homes. The real estate developers of the state had been waiting for the final rules for the Agreement as it was difficult for them to convince buyers to purchase homes without the updated Agreement for Sale. The Agreement will also ensure that the said amenities are provided by the builders and compensation is provided if there is a delay in delivery. The secretary of Karnataka RERA also informed that the final rules for the Agreement will be sent to the law department for approval this week. ...
The Real Estate Developers in Haryana are clearly in more trouble as the RERA’s official website will at least take up 60-70 days to get operational. The Executive Director of Haryana RERA Committee informed that the RERA portal will also have a grading system for the records of promoter’s activities in the state, including timely deliveries. The absence of a proper RERA Authority in the state has already left all the promoters and agents clueless on how to carry operations without being registered with RERA. While other state Authorities have already started to dismiss off complaints by homebuyers, most of the people in Haryana don’t have any idea on how to complain. ...
The Gujarat RERA Authority has issued a notice to the promoters registering their projects in the state. The Authority has doubled the registration fee as a penalty for all the project registrations for the month of October 2017. The amount of penalty will be equal to the registration fee for registration, which will enforce the promoters on paying double the registration fees. This penalty will be further increased for the month of November. Projects registering in the month of November will have to pay a registration fee three times to that of the original fees. ...
Mumbai Grahak Panchayat is seeking help from the Central Government to amend rules of the recent RERA Act in the state of Maharashtra. The Act has barred the projects lacking the possession of approved sanctioned plans from registering with the RERA Authority. The Authority has taken such a step as there were a lot of cases in which the projects had not yet obtained the approved plans which were required before registering with RERA. However, the consumer body is complaining as this step will be an escape route for the builders and will encourage the delays of delivery of projects. ...
It looks like homebuyers in Maharashtra are furious and can’t stop complaining to the Authority about their problems. The number of complaints has now crossed 600 and are increasing rapidly with the passing of each day ! The filing of complaints saw a significant increase since MahaRERA announced their first order in favor of a homebuyer and penalized the builder. The homebuyers of the state are looking to get their dues with the help of the Authority. To file a complaint to the MahaRERA Authority, there is a compulsory fee of five thousand rupees ! The fee for complaint is remarkably more compared to the fees charged by other RERA Authorities. However, the MahaRERA Authority is also disposing the complaints at a much greater pace than other state RERA Authorities. ...
The Centre is forming a 31-member advisory Council to ensure better implementation of the Real Estate (Regulatory and Development) Act across the country. The Council is expected to include secretaries from ministries, state representatives and other notables from the real estate sector. The Council will guide the Central government on all the matters regarding RERA in different parts of the country. It will also overlook the status of implementation of the Act. Notably, states like Goa, West Bengal and Arunachal Pradesh still lack implementation of the Act. ...
The Chairman of Maharashtra’s RERA Authority, Gautam Chatterjee, speaking at NARDECO’s summit announced that most of the ongoing projects in the state of Maharashtra are now registered with the Act. Giving out some actual figures, he said, the Authority has received applications for ongoing types of approximately 13,000 projects. 400 applications have been received for new project registration. Out of the total 13,400 applications, MahaRERA has already provided certificates to 13,300 projects. The Authority has also started to dispose complaints filed with them. ...
The Real Estate (Regulatory and Development) Act was implemented in May 2017. The Act was delayed and was implemented in Karnataka in the end of July. The Authority launched the website on 24th July and saw a good response for registrations of both real estate agents and promoters. Also there were complaints lodged by homebuyers to the Authority for projects that lacked timely deliverance. There have been a total of 80 complaints in the state, mainly for Bangalore. However, the numbers are still low compared to the amount of complaints that have been received by other state Authorities. The Authority needs to dispose the complaints within 60 days of the filing of a complaint, which is yet to be done by the Authority. ...
The Goan government has been really slow in implementing the Real Estate (Regulatory and Development) Act. The RERA Act was implemented in the Country from May of this year, following which many states observed its proper regulation whereas, other states lacked the presence of Regulatories. Goa was one state which extended the deadline for registrations even before the final notification of the rules. Now with only 40 days left for the deadline, the cabinet has still not produced the final notification of the rules which has left all the developers of the state wandering. ...
The Real Estate (Regulatory and Development) Act has been on a roll throughout the country since its implementation in May earlier this year. However, there are some parts of the country which still lack the presence of the real estate Act. One of them is Odisha, where the industry has been strongly hit due to poor implementation of the Act. There has been no guidance for promoters and brokers in the state about the Act. As there are no projects with RERA number, promoters are unable to advertise leaving the businesses in trouble. The president of CREDAI Odisha, DS Tripathy also raised his concern over the Real Estate Industry’s situation in the state speaking at a press conference. ...
MahaRERA, on Tuesday released the final order for another complaint which was filed against the real estate developers, Lodha group. The complainant, from Maharashtra had booked a 2BHK flat in the builder’s project named, Ultima. The complainant further cancelled the booking and requested the builder to refund the booking amount, which was in this case Rs 1,08,000. The builders however did not return the amount and the homebuyer had to file a complaint to the Authority for same. On Appearing in the court, Lodha Group agreed upon refunding the money back to the buyer. The complainant on receiving the amount did not wanted to take the case further and thus the MahaRERA Authority disposed off the complaint in favor of the homebuyer. ...
MahaRERA on Friday issued an order regarding the conclusion of the Meeting held for deciding the penalties on applications received after 16th August 2017 for ongoing projects. The Authority has decided to keep the penalty amount same for the project applications between 16th August and 31st August. However, the amount of penalty on ongoing project registrations from September onwards will be twice as much of the previous amount, i.e., Rs 2 lakhs or an amount equivalent to double the registration fee, up to Rs 10 lakhs. Around 800 ongoing project applications have been received between 16th August and 31st August, which will have to pay a minimum Rs 1 lakh penalty and about 54 applications of ongoing projects have been received since the beginning of September, which are required to pay double penalty. ...
Gautam Chatterjee, chairman of the Real Estate Regulatory Authority of Maharashtra, has advised the RERA Authorities of different states to cope together with the problems arising in the real estate sector. Pointing specifically to the Jaypee’s case of insolvency, he said that Authorities together need to find solutions to the problems which block the RERA Act to protect consumer’s rights. Speaking at a press conference in Mumbai, Chatterjee also gave an account of the complaints that have been received by the MahaRERA Authority and how they will ensure justice to homebuyers of the state. ...
The Karnataka RERA Authority has issued notices to more than 300 promoters of the state for not registering with the Real Estate (Regulation and Development) Act. The Authority will provide the builders with a limit of seven days to mention the valid reasons for their delay in registering. The penalties then imposed can be as high as 10% of the project cost. Around 1,100 project registrations have been applied, out of which the Authority has only approved mere 12 projects. ...
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