Category: Real Estate

Consumer court orders ATS Estates to refund buyer’s money with 12% interest

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CHANDIGARH: In a consumer complaint filed by a Chandigarh-based couple, the state consumer commission, Punjab, held that in case the builder of an apartment fails to give possession on time, the consumers are under no obligation to accept possession at a belated stage and can seek refund of the entire amount paid along with reasonable compensation in the form of interest. The judgement of the commission has come in the case of Nitika Verma and Nitin Verma against ATS Estates Private Limited. The complainants, who are husband and wife, had…

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RERA National Conclave : रेरा कानून में संशोधन के लिए यूपी सरकार भी तैयार, 15 दिन में बनेगा प्रस्ताव

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लखनऊ, जेएनएन। रियल एस्टेट सेक्टर को पूरी तरह नियोजित करने के लिए रियल एस्टेट रेग्यूलेटिंग अथॉरिटी (रेरा) को और मजबूत करने की मांग पुरजोर तरीके से उठी है। राज्यों के रेरा अध्यक्षों की बैठक के बाद कॉनक्लेव के सत्रों में भी कानून में संशोधन के लिए विशेषज्ञों ने बिंदु सुझाए। यूपी रेरा के अध्यक्ष राजीव कुमार का कहना है कि कानून में संशोधन के लिए सरकार तैयार है। मुख्यमंत्री योगी आदित्यनाथ और केंद्रीय आवास एवं शहरी विकास राज्यमंत्री (स्वतंत्र प्रभार) हरदीप सिंह पुरी ने भी सहमति दे दी है। कॉनक्लेव…

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In a first, Haryana RERA asked residents to pool in money to finish project

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In first of its kind order the Real Estate Regulatory Authority (RERA) of Haryana’s Panchkula has asked a group of residents to take over a project and complete the remaining construction work. Over 100 residents of Faridabad’s Piyush Heights society have agreed to pool in R 8 lakh each to complete the project and move in to their dream home. were expecting completion by 2011 by could not get it as builder failed to complete the project. RERA suggested us to form a association and we should be ready to…

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Homebuyers submit proposal suggesting ways to improve UP-RERA Act

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NOIDA: Homebuyers in Gautam Budh Nagar have submitted an eight-point proposal suggesting ways to improve the UP-Rera Act ahead of the real estate regulatory authority’s first convention, to be held in Lucknow on November 4. “We have submitted eight suggestions for alteration of the Act. First, National Company Law Tribunal (NCLT) should not interfere in the real estate sector. Second, UP-Rera should be involved to complete stalled projects. It should have the expertise of architects, chartered accountants and construction agencies and have the budget for the same. It should get…

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Property portals need to register with MahaRera in next 2 months

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MUMBAI: Real estate portals like Magicbricks.com, 99acres.com, Makaan.com and Housing.com, among others, will now have to register themselves as real estate agents under the state regulator MahaRera. In a recent order, the regulator has noted that such portals which carry out the functions of a real estate agent should register themselves with the Maharashtra Real Estate Regulatory Authority (MahaRera) within the next two months. In July last year, consumer body Mumbai Grahak Panchayat had written a letter to MahaRera chairman pointing out that the activities of property portals and had…

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Centre to soon notify RERA in J&K, Ladakh

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New Delhi: The Central government is set to notify implementation of the Real Estate (Regulation and Development) Act in the newly constituted Union territories of Jammu & Kashmir and Ladakh, paving the way for property development in the two regions. “In Jammu & Kashmir, the act will be notified by the state government, while in Ladakh, the Centre will notify it since it is a UT without a legislative assembly,” an official of ministry of housing and urban affairs said. The notification will be applicable from November 1, after the…

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