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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. ...
Hardeep Singh Puri, Minister of State (Independent Charge) in the Ministry of Housing and Urban Affairs, in a recent interview addressed the status of RERA in the country. Talking about the real estate Act, he said that this has been the first Act of its kind where the country has got a regulator for the real estate sector in all respective states. The dilution of the Act by few states is being looked upon by the ministry and will soon act upon the same. The minister also gave remarks on how the Prime Minister, Narendra Modi has contributed to the Indian Real Estate with his schemes like Housing For All, Pradhan Mantri Awaas Yojna and smart cities. ...
The Mumbai Grahak Panchayat in a recent letter written to the Maharashtra RERA Authority, MahaRERA, has demanded that the Authority should order builders of projects with delayed possession to pay interests to all the allottees. The representative from MGP said that the intent of introducing RERA was to penalize such developers without causing further troubles to the homebuyers. Whereas, since the implementation of the Act, homebuyers have been approaching the Authority individually by complaining against such builders. The Maharashtra RERA Authority has received more than 1300 complaints and most of the complaints seem to be from homebuyers struggling to get possession of their homes. ...
The Allottees of the project Sushant Golf City in Lucknow protested against the builder, Ansal Properties and Infrastructure Limited over the delayed delivery of the project. The project has been under construction for around last 10 years and is still incomplete. As the project was ongoing, it had to register with RERA this year and while registering with the Authority, the builder seeks 8 more years for completion, which made all the buyers furious. Notably, this was not the first protest against the builder and its project. Numbers of investors have protested against Ansal API over the years for delays. While protesting at the builder’s office in Lucknow, the allottees demanded of early delivery of the project and also seek interference from the RERA Authority of Uttar Pradesh. ...
A nationwide homebuyers group has urged for intervention from PM Narendra Modi to prevent buyers from paying loan EMIs for projects that are delayed. The group wrote the letter to the Prime Minister addressing the issue which concerns all buyers throughout the country who have bought homes with loans. There have been a lot of cases where builders had delayed the projects, which caused the buyers to continuously pay the loan EMIs to the banks until the final delivery of the project. The Homebuyers Association has advised the PM to stop banks from collecting the EMIs from buyers whose projects have been delayed, and make the builders stand responsible. ...
Homebuyers in Maharashtra are furious as numbers of delays of flats by the builders are increasing day by day. With the help of RERA, the buyers are able to complain to the Authority, where complaints will be disposed within 60 days, but there are also cases where builders have not yet registered with RERA, which unable the homebuyers to complain against such builders. The Authority of MahaRERA has also disposed of some complaints where buyers have been favored heavily. This has encouraged other homebuyers to file complaints to the Authority as well. ...
Due to the complications in notification of final rules of the Real Estate (Regulatory and Development) Act, the registration deadline in Goa has been further dragged to 31st December 2017. This is the second time that RERA deadline has been extended by the government, first being shifted to 31st October 2017. The builders of the state are furious as due to the Act’s provisions, they are not allowed to advertise their projects unless registered. The real estate agents are also restricted from dealing in projects that are not yet registered with RERA. According to the RERA Act, the original deadline for registrations was set at 31st July 2017. ...
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