Rera Filing

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.  For More Details visit: RERAFILING

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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.  For More Details visit: RERAFILING

The Real Estate Regulatory Act has seen enough disputes for the final notifications of the rules of the Act before finally notifying on Thursday, 26 th   October 2017. The Real Estate (Regulatory and Development) Act was passed by the Indian Parliament in March 2016, and was supposed to be implemented with the beginning of the month of May 2017. However, due to the complications in some of the provisions of the Act and slow-pace of the operations of the State Governments, majority of the states missed the deadline to start the RERA Registrations, including Goa. The Real Estate Act in Goa saw a lot of conflict from both the buyers as well as builders fearing on the dilution of the rules of the Act. Later it was decided to discuss the rules of the Act between Development Authorities and Real Estate developers of the state before finally notifying them. Due to the delay, Goa missed the first deadline to conclude registrations without even notifying the RERA rules. The state gover

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.  For More details visit: RERAFILING

The  State  Government of Goa has finally notified the rules for the Real Estate (Regulatory and Development) Act. 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. However, the rules were finally notified on Thursday, 26 October 2017 and are expected to benefit both the builders as well as buyers. The rera deadline has now been set at December   31, 2017 , against the previous one of 31 October. For RERA Registration visit: RERAFILING

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.  For RERA Registration visit: RERAFILING

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 For RERA Registration visit: RERAFILING

The Real Estate (Regulatory and Development) Act was first introduced in May 2017 after it was passed last year by the parliament. Most of the states were not able to implement the Act on time due to delays in the final notification of the rules and absence of the respective RERA Authorities. However,   majority   of the states managed to start the registrations under the Real Estate Act before the termination of the deadline of 31 July 2017. The territory of Delhi along with other states of West Bengal, Chhattisgarh, Andhra Pradesh and Telangana etc. has not yet started with RERA registrations, which has put all the builders and brokers on hold. All the   ongoing as well as new projects   require registration with RERA, which is not yet made possible in these major states. The real estate developers have been left clueless regarding the status of the real estate Act as there is no official announcement from the Government of these states regarding the implementation

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.  For More Details visit: RERAFILING

The final rules of the Real Estate (Regulatory and Development) Act were notified by the Government of Tamil Nadu on 22 nd   June 2017. The implementation of the Act was delayed by almost two months in the state, as the original date of starting RERA registrations was 1 st   May 2017. The official portal of Tamil Nadu RERA was launched in early August following the notification of final rules of the Act. The website of the RERA Authority of Tamil Nadu enabled builders as well brokers to register on the portal itself, making it convenient for the real estate developers of the state to obtain   certificate   with ease. Fee structures The fee for registering a project is categorized on the basis of   type   of project and land area. Fee   structure for promoters in Tamil Nadu is as following : a)   Layouts, sub-divisions and site approvals   – Rs 5/- per square meter of plottable area excluding EWS plots (Roads and OSR excluded); b)   Residential buildings   –

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.  For RERA Registration visit: RERAFILING

The final rules of the Real Estate (Regulatory and Development) act were notified by the state government of Rajasthan in February this year.  The Rajasthan government was active only to a certain extent because, as soon as the registrations started, the result was in front. There   was  no proper Authority set up by the government, which is mandatory according to the Act and there was no website to register online in the entire state. The   builders, as well as brokers of the state , were hit hard as all of their activities came to a stop. No broker was allowed to deal with projects not registered, and it was mandatory for brokers as well to get themselves registered with RERA. Advertisements of projects were also restricted by the government, due to the provisions of the Act which did not allow unregistered projects to market their property without getting a RERA registration number. However, the government formed a working Authority and also launched a website fo

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.   For more Details visit: RERAFILING

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 31 st   December 2017. This is the second time that RERA deadline has been extended by the government, first being shifted to 31 st   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   31 st   July 2017.  For More Details visit: RERAFILING

Prakash Mehta, the State Cabinet Minister for Housing Department has recently said that the state can amend the rules of the Real Estate (Regulatory and Development) Act if the builders as well homebuyers insist on doing so. He further added that certain provisions of the Act can be modified or changed to make it more favorable to the homebuyers. In the past, there have been some buyer associations complaining that the Act has been diluted by the Maharashtra state government in such a way that it benefits builders more than the consumers. With these recent remarks of the state’s Minister of Housing Department, it is possible that we see some changes in the rules of the Act soon! For More Details visit: RERAFILING