Rera Filing

T mithra, who is now the additional secretary of the department, has been appointed as the new interim authority by the local self government (LGG) department. The move gives clear hints that the state may have to wait to get a fullfledged regulatory authority. Kerala is one of the eight states in the country that has failed to notify the real estate regulation rules on time and establish a web portal and the decision to have an interim body was in the wake of increase in complaints and litigations in the absence of a regulatory authority. For more visit: www.rerafiling.com

Mumbai Grahak Panchayat (MGP), a city based consumer body urged MahaRERA to bring property portals under its purview that’ll add to further increase in transparency and accountability in the real estate sector. In a letter to MahaRera chief Gautam Chatterjee, MGP said, "Real estate web portal companies operating in Maharashtra have to be treated as 'real estate agent' under Rera." It has also sought registration of such portals under MahaRera in the next 60 days. For more visit: www.rerafiling.com

Ghaziabad Development Authority(GDA) got a notice from UP Real Estate Regulatory Authority since it has failed to update projects on RERA website. The notice has asked GDA to complete the task of updating the projects by 6 July,2018. Crossing the given limit, GDA will be liable to harsh penalties. According to RERA rules, all development agencies and private builders are required to update their projects under RERA. But the GDA has failed to update the projects since May this year. For more visit: www.rerafiling.com

To empower citizens and aid them futher, Maharashtra Real Estate Regulatory Authority (MahaRERA) mapped 4500 projects out of a total of 16000 registered projects with Geographical Information System (GIS). This will enable the citizens to find minute details of homes of their choice just by selecting the option “view on map” on its website. For more visit: www.rerafiling.com

After a wait of almost 1 year, Telangana will finally launch its web portal for registration on 01 August 2018. The web portal will be developed and maintained by Mahaonline Ltd, a JV between Maharashtra government and TCS. The trial run has already begun for the Rera web portal and it will become functional on August 1,” MA&UD principal secretary Arvind Kumar said. Officials said Mahaonline will maintain the Telangana Rera  website for three years and upgrade it as and when required. For real estate projects or development projects, the developers have to pay Rs 750 and real estate agents Rs 500 towards one-time registration charges apart from other fees. The amount will directly go to Mahaonline for maintenance of the website,” MA&UD officials said. for more visit: www.rerafiling.com

The Real Estate Regulator of Maharashtra has issued the letters to the state local authorities to do surveys on real estate projects not enrolled with the MAHARERA. This step ensures maximum registration of real estate projects operating in states.“We have written to almost all local authorities, directing them to conduct a survey of all realty projects in their areas. While the local authorities can take action against unauthorized projects, they will have to refer legal but unregistered projects to us. We had issued the letters last month and are yet to receive the details from them,” stated MahaRERA secretary Vasant Prabhu. For more visit: www.rerafiling.com

Property prices in Karnataka are set to go up with land title insurance, which is mandatory under the Real Estate Regulatory Authority (RERA), becoming a reality soon. Land title insurance is an insurance product that provides safety to builders and against any loss from defects in property title. Though RERA makes it compulsory for developers to get title insurance for all new and current projects, the state unit has not been able to implement the clause till now due to lack of insurance players in the market providing such a cover. But now, with a few products making headway, land title insurance will soon become a reality. For more visit: www.rerafiling.com

The Real Estate Regulatory authority has received a total of 92 applications from the district Coimbatore out of which 76 has been approved by TNRERA. Selvakumar said TNRERA had been sending notices to the realtors, who had not approached the regulatory body for approval. “We have so far sent 1,400 show cause notices to realtors across the state. Many of them have replied saying the projects were for their personal use and not for sale. In such cases, we will publish the details of the projects in our website stating the property is not for sale, with a warning that if people buy the property, it would be at their own risk,” he added.  For more visit: www.rerafiling.com

In order to ensure developers don't sell projects without registration in RERA, state govt has put restrictions on sources of funding for projects until the project is registered in RERA. Interim regulator Kapil Mohan recalls many instances where unregistered developers come “sheepishly to register, once the funding stops.” Today, selling an unregistered property in Karnataka is an illegal act. “If such a transaction comes to the notice of the regulator and it is proved by secondary evidence that such a sale transaction has taken place, then penalties will be levied,” Mohan stated. For more visit: www.rerafiling.com

Maharashtra Real Estate Regulatory Authority (MahaRERA) gave a ruling that the authority can still adjudicate complaints even if it happened before RERA came into force. “Though the said cancellations were executed prior to the said Act (RERA) came into force, this authority is of the view that with monies paid by the complainants still lying with the respondent (developer), this authority has jurisdiction to adjudicate the complaints,” stated Gautam   Chatterjee , chairperson of   MahaRERA . For more visit: www.rerafiling.com

The fee for filing complaints with the Tamil  Nadu Real Estate Regulatory Authority (TNRERA) has been hiked. According to a circular on Tuesday, Rs 1,600 should be paid for filing complaints with the authority under Section 31 of the Real Estate (Regulation and Development) Act, 2016 wherein Rs. 1000 is the actual fee and Rs. 600 is the postage charge that has to be submitted online. The fee revision comes into immediate effect. For more visit: www.rerafling.com

India’s youngest state, Telangana is all set to implement RERA (Real Estate (Regulation and Development) Act) within the   fortnight.  Triumphant testing of the T-RERA web portal powered by Mahaonline is almost complete and the registrations will begin by July 1. Mahaonline   is a joint venture of   the government   of Maharashtra and India's largest information technology firm, Tata Consultancy Services (TCS).   Once registrations under RERA officially begin, Telangana will become the 14th state in the country to have a functional web portal for project registration. For more visit: www.rerafiling.com

The chairman of the Maharashtra Real Estate Regulatory Authority (MahaRERA), Gautam Chatterjee, is all set make title insurance obligatory for registered developers. This comes after insurance companies express interest in providing title insurance for the real estate projects. Though the RERA had made land title insurance mandatory for developers, the state unit was not able to implement the clause right away as there was no insurance player in the market providing such a cover. With that changing, Chatterjee has sought a detailed proposal and will soon announce an implementation date.  For more visit : www.rerafiling.com

To ensure better construction quality, for the first time MahaRERA will provide skilled labour training certification. The authority will certify trainers to train workers for the real estate industry. The training will help the labour force deliver projects of better quality, which will eventually be graded wherein consumers can access the grades given to the projects on the MahaRERA website. For more visit : www.rerafiling.com

  Andhra Pradesh has finally launched its official RERA website for RERA registrations after almost an year of being notified. The website got an overall 49 applications for RERA registrations out of which only 8 projects have been approved by the regulatory authority and rest are still under surveillance. For more Visit : www.rerafiling.com