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The National President of CREDAI (The Confederation of Real Estate Developers Association of India), Mr. Jaxay Shah, has recently commended the efforts of Maharashtra Government as well as the Real Estate Regulatory Authority of Maharashtra, MahaRERA, for its timely implementation of the Real Estate Act while comparing the status of the Act in other states of the country. Addressing the ‘New India Summit’, he added to his comments that, while other state governments are taking long to implement the Act, Maharashtra has not faced any such problem since the beginning of the Act. ...
Over 5.5 lakh flats in Maharashtra has been delayed possession by the real estate developers. These figures were introduced by the Centre in Bombay High court in order to prove the need and validity of the Act. Around 10% of these flats are delayed by 5 years or more. The RERA Authority of Maharashtra, MahaRERA, has so far disposed of 110 complaints, majority of which have been against builders for delays in possession of flats. The few homebuyers of the state have also got compensations with the help of the RERA Authority. ...
The Real Estate Regulatory Authority of Jharkhand, which is responsible for RERA registrations in the state, has launched its official website this early week. The Authority will be processing applications of all promoters, projects and real estate agents received over the website and will provide the RERA Certificate within 30 days. The RERA Authority is currently headed by Shri Arun Kumar Singh, who is the Principal Secretary of Urban Development and Housing Department, Jharkhand. The Authority website also enables homebuyers to file complaints. ...
Speaking at a seminar in Indore, the Chairman of Madhya Pradesh Real Estate Regulatory Authority, Anthony De Sa, said that the advantage of RERA is not only limited to cases with registered projects, but RERA can also help homebuyers to fight against projects without registration with RERA. In favor of the Act, he further added that transparency and equal opportunity for all is the main objective of the Act, and its implementation ensures proper regulation. ...
In the recent hearing on Tuesday in the Bombay High Court for case filed against RERA, the senior counsel Shiraz Rustomjee, who was responsible for representing homebuyers in the Court said, ‘RERA as a regulatory body carries out administrative as well as legislative roles similar to the bodies like SEBI (Securities and Exchange Board of India), TRAI (Telecom Regulatory Authority, of India) and RBI (Reserve Bank of India). The Forum for People’s Collective Efforts, a non-profit company was present on Wednesday’s hearing in the High Court. ...
The Haryana Real Estate Regulatory Authority, H-RERA, has sent out notices to 140 builders of the state for not registering with RERA until now. The Authority has received around 600 applications for registration of ongoing projects for the entire state. Out of which only 340 projects have been granted their RERA certificate. The Authority of H-RERA does not have an operating website for registrations yet, which seems to be the main issue for builders in registering with the RERA Act. The registrations in the state are only offline where builders have to physically submit their documents in Panchkula, Haryana. ...
Bombay High Court bench on Monday stood in support of the validity of the Real Estate (Regulation and Development) Act by stating and clarifying some of the provisions of the Act to the developers who filed petitions against the Real Estate Act in Mumbai. In a petition filed against the provision of the Act stating the penalty for builders on missing the possession date, the Advocate General appointed said that the interests payable by builders will act as similar to the ones that homebuyers need to pay on the failure of payment of installments. Also, when a builder is unable to complete a project in future, the RERA Authority, for example, MahaRERA, will have the power to appoint a new builder in order to complete the project. The Bombay High Court was resuming the hearings on petitions filed against the RERA Act. ...
A couple of builders in Maharashtra agreed to change their project deadlines and pull them closer as to what was initially put while registering with the RERA Authority. Recently, in a complaint filed by buyers against a builder for a refund of the booking amount due to the completion being too long, the builder agreed to bring the completion closer. The promoter of project ‘Ektaworld’ was directed to change the completion deadline from 30 June 2020 to 31 October 2018. In a similar case, the promoter of the project Neptune Eleve was directed to change the possession date from 31 December 2025 to 31 December 2020. ...
In the argument on a petition filed against the validity of RERA, the Union Government backed the Real Estate (Regulatory and Development) Act by saying that the Act is beneficial for both the real estate developers as well as the homebuyers. Further supporting his statement, the Additional Solicitor General Anil Singh said that the Parliament passed the bill only after proper consideration of the necessity of the Act to protect the interests of homebuyers of the Country. The hearing took place before a bench of Justice Naresh Patil and Rajesh Ketkar. The petitions filed against RERA are being heard by the Bombay High Court on a daily collective basis. ...
In the last statement made by the Haryana CM Manohar Lal Khattar on RERA, he announced that the RERA Authority of the state will be formed by October. But however, the state government has not yet formed the RERA Authority. The Authority is in the process of formation and the Chairman of H-RERA Authority will most probably be elected by 4th November. The Authority now can only be formed latest by November-end. Until now, Haryana has received around 600 applications for registration of projects and 570 applications for registration of Agents. Out of these, 338 projects and 540 real estate agents have been granted the RERA certificate. ...
The Bombay High Court on Monday started with the hearings on the petitions filed by real estate developers of the Country against the validity of few provisions of the Real Estate Act. The provision of the Act that makes it mandatory for builders to register on-going projects has been challenged along with other provisions of RERA. The Builders and landowners who have filed these petitions are seeking amendments in the Act to make it less complicated and burdensome for the real estate developers in the Country. However, buyers Associations of the country are expecting an order favoring the homebuyers. The remaining petitions will be heard by the Court throughout the week. ...
The Supreme Court has recently informed Courts as well as RERA Authorities to refrain from taking stern actions against complaints filed against the real estate developer Unitech Limited. The Supreme Court on Monday, ordered the Real Estate group to deposit Rs 750 Crores by the end of December, and only then the Court will consider granting bail to the Managing Director Sanjay Chandra. The Unitech Limited owes a total of Rs 1,865 Crores to homebuyers for refunds, as buyers have turned their decision for possession of the flats. ...
The Real Estate Regulatory Authority of Karnataka has recently issued the first judgment on one of the complaints filed by a homebuyer against a builder for refund of the booking amount. The Authority on hearing both the builder as well as the complainant, disposed of the complaint as both the parties agreed to settle the dispute amicably. The builder accepted to refund the booking amount of Rs 9 lacs to the buyer. The Authority, in the notice, also informed that they are following up on complaints that are filed to them and will soon start to dispose them as well. ...
The State Government of Goa has notified the rules for the Real Estate (Regulatory and Development) Act to form the RERA Authority for carrying registrations in the state. There had been a lot of hurdles in notifying the provisions of the Act as the builders and buyers were both worried about the modification of the Act to favor one or the other community. These rules, notified on Thursday, 26 October 2017 empower the state government for the formation of the Authority so as to proceed with the registrations of promoters as well as agents. However, the final RERA rules for the state are yet to be notified by the state. The rera deadline has now been set at December 31, 2017, against the previous one of 31 October. ...
The Karnataka Real Estate Regulatory Authority, responsible for RERA registration all over the state has been remarkably slow in its operations since the implementation of the Act. This has rose to be a big problem for the real estate developers of the state as the Authority is taking too long to issue rera certificates to promoters as well as agents. In some of the cases, the Authority has taken more than 30 days to produce the certificate, which violates the provisions of the RERA Act to provide RERA certificates within 30 days of application. Out of a total of 1,600 applications, the Authority has only registered 600 projects until now. ...
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