RERA-Karnataka will soon notify model sale deed

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Carpet area in RERA

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Before the implementation of RERA, the definition of the Carpet Area was very ambiguous and hazy. As a result, the homebuyers were intermittently  deceived  by the developers. They are were asked to make the payment even without getting the exact measurement of the area they were paying for.   But, RERA has solved the puzzle of lofty ambiguities by clarifying the definition of ‘Carpet Area’.   According to RERA, Carpet Area can be defined as - ‘the net usable floor area of an apartment, excluding balcony or verandah area and exclusive open terrace area, but includes the area covered by the internal partition walls of the apartment.”   The Authority has also perspicuously  categorised  three types of AREA as-       Carpet Area  which is the net usable  floor area  of an apartment, excluding balcony or verandah area and exclusive open terrace area, but includes the area covered by the internal partitio...
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RERA gets its own central advisory council

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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 pres...
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Projects registering in September to pay minimum Rs 2 lakh penalty in Maharashtra!

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MahaRERA on Friday issued an order regarding the conclusion of the Meeting held for deciding the penalties on applications received after 16 th  August 2017 for ongoing projects. The Authority has decided to keep the penalty amount same for the project applications between 16 th  August and 31 st 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 16 th  August and 31 st  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. For More Details visit: RERA FILING
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