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Maharashtra Real Estate Regulatory Authority, the assigned body for RERA registrations in the state, observed large traffic on their official handle for the last- minute rush on 31 st July 2017. With this, the deadline for registrations of ongoing projects in the state has concluded. CM Devendra Fadnavis also tweeted on the last day of registrations and informed that approximately 2100 developers and 4682 projects have been enrolled so far on MahaRERA. The total number of applications received for projects are 6748. However, there are few developers who have not managed to meet the deadline to register. All the developers who have not yet completed the process are expected to be fined heavily and face further consequences. ...
The Real Estate Developers of the city of Bhubaneswar is going to witness a landmark in industry. From the month of August, the builders will be able to approve their plans completely online. This will be of great convenience to the builders as this will help them skip the entire lengthy process of getting nod from the Building Development Authority (BDA). The same platform is expected to spread out in other cities of the state soon. ...
The RERA registration deadline, that was set to be 31 st July, has now been expanded to 31 st October in the state of Goa for all the ongoing as well as new projects. The extension comes as a result of delay of providing the notification rules to builders, by the state government. However, there is still no surety as when the rules for the same will be made available to the builders. ...
The Government of Punjab has decided to welcome applications for registration under RERA on 31 st July as well, which is a state holiday in Punjab on account of Martyrdom Day of Shaheed Udham Singh. The applications will also be received on 29 th , which is a Saturday. This will help the real estate developers of the state to register themselves before the set deadline of 31 st July. However, it is unlikely that all the developers will register before the deadline as due to the low traffic that has been observed in the initial phase of launching of the portal. ...
UP’s RERA portal, which was launched by CM Yogi Adityanath on Tuesday morning, received a lot of backlash from the website’s visitors within the first 24 hours of going live. Reportedly, there were more than 15,000 complaints submitted on the portal This also created a lag on the UP RERA website which created more trouble for the registrants. ...
The Bombay High court on Wednesday, ordered registrations to be completed within the set deadline, 31 st July, in response to a petition filed by few builders questioning the validity of the new Regulatory Act. This makes it clear that the deadline is not going to be extended in the state of Maharashtra, which had started with the onset of month of May this year. Pending registrations now have to be registered within the coming four days ! ...
Haryana Real Estate (Regulation and Development) Act rules were clarified and approved off by the Haryana cabinet on Tuesday chaired by the Chief Minister Manohar Lal Khattar. The Haryana Government Is expected to launch the RERA portal sooner after this meeting, as this was the final consideration on RERA by the cabinet. Real Estate Developers in the state have already been worried for the deadline ending with the month of July. ...
With just four days left for the registration to end, Uttar Pradesh CM Yogi Adityanath launched the RERA portal for the state today. This is a big rescue for all the builders and promoters as the registration will help them set going for the projects both ongoing as well as new. Also after such delay, a small window of extension is also expected by the state realtors. The UP RERA portal also helps the registrant to obtain a registration number instantly, unlike other RERA portals. ...
A report released by the National Housing Bank (NHB) for the quarter January - March 2017, indicated towards the low in property prices in Ludhiana. According to the report, the prices fell down by 7.8% compared to the last month of previous year. Property prices also saw a fall in Kolkata, Delhi as well as Surat earlier this year. The main facet of the fall of prices is considered to be demonetization. ...
With less than a week left for the registration process of Maharashtra RERA to come to a hold, the chairman elect of the Maharashtra RERA Gautam Chaterjee has informed that there are not going to be any extensions in the forthcoming deadline of 31 st July. With a total of 6 days left in meeting the deadline, not more than 1,500 projects have been registered out of the estimated 10,000. Notably, the RERA registrations had started May onwards in Maharashtra. ...
With nothing quite seeming to be at place with the RERA registration process under state governments, the Haryana cabinet is expected to analyze the RERA Act on table today. This will include discussions on different aspects of the Acts such as the actions on ‘pending projects’ , ‘pricing’ and ‘terms and conditions’ ,before it is finally implemented in the entire state. ...
The Chief Executive Officer and the Director of the realty estate giant, Amrapali Group, has been arrested on being accused of non payment of labour cess woth more than Rs 4 crore. This comes after a final recovery notice was sent to the officials in March, following which the police had to take the necessary step under laws. Also, the Noida office of the Group has also been sealed for the time being. ...
The New Delhi Municipal Council (NDMC) in the early March of this year scrapped the license of the hotel, on account of non-payment of the license fee, in a meeting led by the Delhi CM Arvind Kejriwal. However, the operating company of Le Meridien, CJ International Hotels have been in dispute with the NDMC as soon as they overtook possession of the property. ...
The National Institute of Urban Affairs (NIUA) has been given the task to prepare the framework of the Master Plan of Delhi’s development by the Delhi Development Authority (DDA). The NIUA needs to submit the complete structure within the set deadline of 48 months. The structure will be implemented in the Master Plan that has been assigned to carry Delhi’s development till 2041. This is set to help the future projects of different sectors in the realty industry. ...
According to the surveys of property in the States, Indians are yet again among the top buyers of residential property. Indians have invested over $7.7 billion in the 12-month period which ended with March this year and rank 5 th among the others. Chinese citizens have emerged to be the top investors in the residential property in the US with a total investment of more than $31 billion. ...
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