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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. ...
Maharashtra, with the help of the stiff rules of the Authority, MahaRERA, has topped the numbers of registrations of the Real Estate (Regulation and Development), Act in the country. The state RERA Authority has been strict ever since the Act was implied in May, earlier this year. There have been approximately 13,000 ongoing projects registered till now in the Maharashtra state, against the total 18,000 in the country. MahaRERA was also the only Authority to directly fine charges after 31 st July, 2017 without extending the deadline. There have also been 55 complaints filed by the real estate buyers of the state until now. ...
Haryana notified the final rules of the Real Estate (Regulation and Development) Act on 28 th July 2017, just three days prior to the deadline for project registrations. However, the deadline was extended to an unspecified date as no penalties were imposed on the projects registering thereby. A total of a little more than 500 projects have registered with the Haryana RERA Authority since its implementation last month, out of which only 90 have been approved. Also a total of 100 complaints have been filed by the homebuyers with the Authority. Notably, all the process in Haryana is only offline until now as there is no official website of the Authority, unlike other states. ...
The Ministry of Housing and Urban Development has filed a petition to the Supreme Court of India to shift all the cases against the Real Estate (Regulation and Development) Act to a solo court. There are approximately three dozens of such cases scattered across different states ofthe country. Most of the cases against the real estate Act have been filed due to the issue regarding the involvement of ‘ongoing projects’. The builders want the exclusion of the projects from the Act that had started before its existence. The Real Estate (Regulation and Development) Act had been imposed in the country from May 1, 2017. ...
A study conducted by Knight Frank, an international property consultant chain, on the data of Maharashtra’s RERA Authority revealed that at least 50% of the real estate developers have extended their project deadlines by a year or ahead, while registering. This is bound to make the homebuyers of the state anxious as there can be no legal action taken on such grounds as of now. The reason for the promoters to extend their end dates of the project way ahead, is to avoid delaying the delivery of the projects, as it is going to attract huge penalties. Not only in Maharashtra, but projects that have registered with the state authorities pan India has taken a marginal extension to the deadline for avoiding the delays, which is going to cause buyer-developer disputes in the near future. ...
The officials from the Rajasthan RERA Authority and the Jaipur Development Commissioner in a meeting held on Monday, has decided the penalty that will be imposed on the promoters who have missed the deadline, set as 31 st July 2017. The projects registering till 31 st August will have to pay a registration fee, four times to that of the previous one. The registration fee is categorically divided among the state, which makes it complex for the builders to understand as to how the implementation of the fine will proceed. The officials also reported that the penalty will further be extended for the promoters not registering within the extended deadline. ...
The official online portal for registrations of promoters as well as builders under the, Real Estate (Regulation and Development) Act, in Himachal Pradesh was launched by the Honorable Chief Minister Sh. Virbhadra Singh, today. As the deadline for the registrations of projects have already passed, the Authority is expected to provide a months time to all the promoters of the state to get on board with the Act. The website will also enable the buyers to lodge a complaint against the untimely delivery by the real estate developers. ...
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