Rera Filing

The Central Government has taken a prominent decision by scaling down GST from 12% to 8% on affordable homes. This generous percentage of GST rate cut, which is introduced under Pradhan Mantri Awas Yojna ( PMAY ), can pertinent only to those homebuyers who will purchase houses using the Credit-Linked Subsidy Scheme (CLSS). PMAY  was introduced by Prime Minister Narendra Modi on June 1, 2015, with the sole objective of providing affordable housing to the urban poor.  Besides that, CLSS is one of the components which comes under  PMAY . In this scheme, the Central government offers certain interest subsidy to only those customers who meet some particular criteria. CLSS provides various limitations which must be fulfilled to be eligible for these benefits. But who doesn’t meet the requirements will continue to pay 12% GST for the same house. What does this scheme say?  Indian homebuyers, who are impoverished, are seeking a leg up from the government to make...

Gujarat government was lagging behind the rest of the states in introducing its RERA website. On the other hand, other states were taking the lead in the registration process. Notwithstanding, it doesn’t make this Gujarat state any less in the same process. RERA registration in Gujarat started on 10 th  July 2017 and right from then, it has completed registration of almost 1426 projects and approx 410 agent registrations. for more visit www.rerafiling.com

3 weeks back, a drive was started off by RERA Karnataka to draw builders’ attention on their non-registered projects and to extract details of these projects. Now, within a month; builders from Karnataka have given prompt reaction to RERA Karnataka’s stringent action of putting 780 real estate projects on its website under the warning disclaimer. Several clarifications and required documents have been provided by these builders to RERA authority. Now 623 projects, out of 780, have been removed from RERA Karnataka’s web portal and 148 new projects have been added to that category. Therefore, this makes a current total number of projects 305. for more visit www.rerafiling.com

Tamil Nadu Real Estate Regulatory Authority (TNRERA) will be going to appoint a chairperson and two other officials shortly. S. Krishnan (Principal Secretary (Housing)) has been assigned as the authority on the temporary basis. Right now, a former judge of the High Court, B. Rajendran is functioning as the chairperson of the Real Estate Appellate Tribunal and Andaman and Nicobar Islands will come under the jurisdiction of both RERA and this Tribunal. The main concern of this authority is to appoint only those who have “no financial interest” and “persons of integrity beyond question”.  for more visit www.rerafiling.com

TNRERA   has generated data on its web portal which stated that 28 new housing projects have been registered by this authority till 18 January; additionally, 18 projects, out of 28, are from Chennai and its peripheries. Therefore these new projects have taken the number of housing projects to more than 300 since the inception of this authority which was on 22 June 2017.  for more visit www.rerafiling.com

Residents from Haryana got a sudden burst of happiness as a temporary H-RERA’s (Haryana RERA) Gurgaon office will start its functioning from February 1, 2018, but, above all, permanent office will come up after 6 months. This temporary office will have different wings like; legal, administrative, accounts, complaint and registry. Apart from these wings, H-RERA will also be headed by a session’s judge. Functioning of this authority will be carried by 52 officials initially and this number will get higher with each passing days. For resolving one particular issue, H-RERA would take maximum 60 days time period. for more visit   www.rerafiling.com

The government of India has enacted the Real Estate (Regulation and Development) Act 2016 and all the provisions of the Act have come into force with effect from May 1, 2017. Owing to the new guidelines, every state is liable to establish Regulatory Authority (RERA) which will supervise all the activity of Real Estate sector. To comply with these rules, the Andhra Pradesh Real Estate (Regulation and Development) rules were notified on 27 March 2017. Obligations of an agent: In case of the real estate agent, he shall provide assistance to enable the allottee and promoter to exercise their respective rights and fulfill their respective obligations at the time of booking and sale of any plot, apartment or building. He shall also maintain and preserve books of account, records and documents in accordance with the provisions of the Income Tax Act, 1961. Registration fees for Agents: In case of individual Real Estate agents of Andhra Pradesh shall pay Rs. 10,...