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