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2 developers in Maharashtra are liable to pay interest for late delivery

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January 02, 2018

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.

For More Visit: www.rerafiling.com

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

September 11, 2017

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

HRERA takes up 60 complaints on April 10 and April 12

April 20, 2018

Haryana RERA Authority has communicated it has heard grievances of 60 homebuyers on April 10 and April 12. HRERA has given 1-2 weeks as a time for respondents to send their replies. At the hearings, most respondents sought 1-2 weeks time to file their replies,” said HRera (Gurugram) chairman K K Khandelwal, adding the authority will pass its order if they fail to file satisfactory replies within the stipulated time. He also said H-Rera hopes to dispose complaints within 60 days of their first hearing. Khandelwal said the Indo-Japanese real-estate firm, which was fined Rs 30 lakh for advertising before registering the project with HRera, “has deposited the penalty”. HRERA declared that it will organize hearings on every Tuesday and Thursday in a week. For More Visit: www.rerafiling.com

Leased vs. Purchased vs. Co-Working Office Spaces

November 09, 2017

All the businesses whether they are growing, small businesses or start-ups may someday come up with the question of leasing versus buying versus co-working office space. As everything has pros and cons, this question has many pros and cons and a small business owner needs to carefully look at the pros and cons of leasing or buying or co-working office space. To make your decision easier, here are few key facts of leasing versus buying office versus co-working space:- The Pros of Buying Office Space 1) Fixed Costs: Fixing in your commercial long-term debt can give your business clear, fixed costs. You don’t have to give the rent as per the decided terms whatsoever. It will be a onetime investment. 2) Tax Deductions : The costs of owning and running an office space can provide tax reductions in the form of debt interest, property taxes and other items. 3) Additional Source of Income : Renting out extra office space from your office can offer the advantage of another so...