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Homebuyers of a Bhagtani project registered a complaint in MahaRERA against the Promoter of Bhagtani’s Serenity project in upscale powai. But all efforts were in vain and they came back empty-handed as the Adjudicating officer and Member, MahaRERA, Bhalchandra Kapadnis dismissed the plea of 15 home buyers in the absence of a registered agreement for sale. The Apex Authority stated that issuance of allotment letter is the most necessary and initial stage of agreement of sale. Without the agreement of sale, the Section 18 can’t be invoked. In Section 18 it is clearly mentioned that a promoter is liable to pay interest or compensation if he fails to complete or is unable to give possession of an apartment in accordance with the term of the agreement for sale. ...
In an unprecedented pronouncement, MahaRERA stipulated that this authority can nullify arbitration applications and issue orders to complaints filed by a co-purchaser. In this matter, MahaRERA shed some light on the above-mentioned statement and said that this Authority has the jurisdiction over the arbitration applications as RERA Act was ratified after the Arbitration and Conciliation Act of 1996. Furthermore, MahaRERA stated that if any flat is booked in the name of two people (suppose two people are Husband and Wife) and one of them is party, then a complaint which is filed by one of them is “maintainable in law.” ...
Approximately, 400 Real Estate projects, out of 600 applications received, have got registered under HRERA. Instead of that, more than 250 builders are still escaping the legal process of registration of their incomplete projects. On the other hand, HRERA has taken 665 agents under its ambit out of more than 700 applications. This authority is delaying in taking action against these defaulting developers and agents as two requisite members are yet to be appointed however the Chairman of HRERA has got appointed already. ...
Developers of 780 building projects are jolted by RERA Karnataka as a highlighted warning in bold red is put on RERA Karnataka website which is “rera.karnataka.gov.in”. This step was taken by the authority after sending several notices to above-mentioned developers which were ignored by them. One top official gave the statement that RERA is not proclaiming anyone guilty in this case because there might be some genuine reasons behind non-registration of several projects; still, if the penalty of 10% of the building project cost is not paid, guilty developers should be ready for three-year-imprisonment. ...
The complainant Deepak Tejwani had booked a flat in the Siddhi project by the developer Anil Chabria at Shahad Kalyan. Mr. Tejwani claimed in the complaint that Mr. Anil Chabria had not even executed the agreement for sale but also failed to inform Tejwani about the status of construction. After filing a complaint in Consumer Disputes Redressal Commission (Maharashtra State), Mr. Tejwani approached MahaRERA. However, the bench of B.D. Kapadni and adjudicating officer dismissed this complaint and said’ “I find that the complainant cannot do a forum shopping”. ...
The Housing and Urban Affairs ministry declared that approx 20,000 projects of Realty sector have been registered under RERA and Maharashtra is the sole state which has registered more than half of them. Uttar Pradesh, with Gautam Budh Nagar, has registered 2,000 projects in which Noida is accounting for more than 1,000. Meanwhile, Andhra Pradesh, Karnataka and Gujarat have registered the ginormous number of Real Estate projects. There are certain exemptions to the projects which have been given to states like Maharashtra, Haryana and Andhra Pradesh. Realty projects, in Karnataka, which are 60% complete have been kept out of RERA. ...
Establishment of a tribunal, to hear the appeal against the rulings of MahaRERA (Maharashtra Real Estate Regulatory Authority), has been done by the Maharashtra government on New Year’s Eve. Now Maharashtra Revenue Tribunal, which is located in Mumbai, will bear this responsibility and functioning of this act will be under the Maharashtra Land Revenue code, 1966. Until the establishment of Maharashtra Real Estate Appellate Tribunal under section 43 of the said Act, these two tribunals will be the Appellate Tribunal to hear the appeals under the said Act. ...
In two different cases, which were adjudicated by MahaRERA adjudicating officers Bhalchandra Kapadnis and Vijay Satbir Singh, an ex-parte order was being passed as developers failed to turn up for hearings. In the prior case, the verdict was in flat buyer’s favor as officer directed the developer to refund total amount (total sum + stamp duty + registration charges) with 10.05 % interest as per SBI’s Marginal Cost of Lending Rate (MCLR) from the respective date of payment. In the latter case, the complaint was dismissed as developer offered to pay interest to flat owners from the deadline till actual delivery of flats and promised that possession would be given within extended stipulated time. ...
Karnataka government decided to frame new rules for TDR in March, 2017 after withdrawing its old policy. Until now, in TDR, compensation amount of surrendered land was fixed according to zone-wise classification. Guidance value for agriculture land is fixed at Rs 440 per sqft; on the other hand, non-agriculture land is fixed at Rs 4,000 per sqft. In spite of that; there is obscurity in fixing the land value and type. Landowners are trying so hard to get Development Right Certificate (DRC), but haven’t got any success; even they have surrendered a portion of their property to the BBMP (Bruhat Bangaluru Mahanagara Palike) 5 to 6 years ago. ...
Prime Minister Narendra Modi was in Noida, for the inauguration of Magenta Line, while the homebuyers staged a silent protest outside three different locations which were sector 18 metro station Noida, botanical garden metro station and Amity University, Sector 125, Noida. Homebuyers were protesting against builders for delaying the delivery of flats in Noida, Greater Noida, and Yamuna Expressway areas. Approx 1,000 buyers are still waiting for the delivery of their units in projects like Unitech, Amrapali, Supertech and Jaypee Wish Town Noida. ...
Karnataka Real Estate Regulatory Authority has set off alarm bells among CHS Cooperative Housing Societies (Urban and Rural)in the state as 10,000 co-operative societies, out of approx 50,000, have to be registered under Karnataka RERA. Now, they are liable to comply with RERA norms as their process of developing layout is incomplete. Only one society is registered under RERA till now, nevertheless this whole process will bring transparency and escalate the price. 18% GST will be levied on amount paid by the new owner of flat to the society on exchange of ownership. ...
Maharashtra government has decided to form RERA (Real Estate Regulatory Authority) tribunal which will commence its operations in February 2018. Ongoing issues between buyers and promoters were attracting government attention from day one when RERA was formed. Thus far, Bombay High Court was the sole authority where buyers could file their complaints against promoters, and vice versa. Henceforth, this appellate tribunal will be responsible to look into the matter regarding the RERA rulings. ...
Good news for buyers has been spread as a wildfire in realty sector. Central government of India has constituted an advisory body for Real Estate Regulatory Authority, which is “Central Advisory Council (CAC)”. The main purpose for setting up this body is providing proper protection to customers (homebuyers) with the right implementation of RERA across the country. This body will have the “Minister of State for Housing and Urban Affairs as the Chairperson with other 30 members in total. A gazette notification mentioned that 8 members, who will be the part of council body, are from central government departments like; CEO of Niti Aayog, Secretaries of Ministry of Housing and Urban Affairs, Department of Revenue, Economic Affairs, Department of Industrial Policy and Promotion and Ministry of corporate Affairs. It will also consist of different Chairpersons of different states RERA like; Karnataka, Madhya Pradesh, Assam, Gujarat, Maharashtra. This council truly believes in preserving buyers faith in government system and this proves, as it consists Abhay Upadhyay, President, Forum for People’s Collective Efforts (FPCE) and Chairman of Federation of Apartment Owners’ Association who will represent homebuyers’ on the council. This forum won’t leave representative of real estate brokers and construction workers behind. Five states which are Haryana, Odisha, Uttar Pradesh, Tamil Nadu and National Capital Territory of Delhi will be represented in this council through their representatives. The list cannot be completed without including the Managing Director of National Housing Bank (NHB) and CMD of Housing and Urban Development Council in the CAC. ...
The Lok Sabha, on December 20, 2017, has passed a bill to amend the regulations governing compensation payable for acquisition of immovable property by the centre, for defense and security purposes. The need, 12th amendment of the bill, was raised by the urban development minister Hardeep Singh Puri. This bill has the specific and limited purpose, which is to allow the centre to re-issue the notice of acquisition, in order to ensure that the property’s owner gets an opportunity to be heard. But this doesn’t mean that any old case is going to re-open in which the compensation is already being made. This bill will also help those out who are waiting for justice in forcible land acquisition case. ...
The Interim Chairman of RERA, Mr. Kapil Mohan said, the RERA Karnataka going to soon notify the model sale deed. He said, these days all the developers has their own sale deed. But now, the RERA Karnataka will prepare the draft of sale deed for all real estate projects. Mr. Mohan also said, usually sale deed are by the developers in which they never mentioned their carpet area of the flat but in the model sale deed it will be compulsory for all the developers to disclose their flat’s carpet area, along with mentioning all the penalties and interests on the homebuyers and developers. This model sale deed will make the stand of builder and buyers on the equal ground. ...
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