With the Real Estate Regulation Act (RERA) scheduled to come into force from August 1 onwards, the Special Chief Secretary (Revenue) and chairman of the TSRERA Rajeshwar Tiwari said that a meeting with real estate developers and the prospective buyers would be organised soon to create awareness about the Act.
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Mumbai: The MahaRERA (Maharashtra Real Estate Regulatory Authority) has received nearly 2,000 complaints from home buyers and developers across the state, with more than 90 per cent complaints registered by home buyers. The authority recently appointed two adjudicating officers to decide on the penalty while hearing cases against developers. According to officials, a majority of the complaints pertain to delayed possession, interest claims, compensation, sales agreement etc. Satbir Singh, a RERA member said, “So far, we have received approximately 1,974 complaints and we have attended to around 1,000 complaints. More…
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The Vice-President asked the real estate sector to curtail the speculative land rates as it was not helping anybody. Seeking to allay fears among builders over the Real Estate Regulatory Act (RERA), Vice president M Venkaiah Naidu today said “it is a regulation and not strangulation. “Speaking at the 27th All India Builders’ Convention of Builders’ Association of India, he said some fly-by-night operators were misusing the confidence reposed in them by consumers, bringing a bad name to the entire industry. “I must assure you that Real Estate Regulation is…
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Stringent rules under RERA, are forcing unbranded and debt-ridden realtors to forge alliances with large, deep-pocketed corporate developers Corporate real estate developers, some of them new entrants, are chalking out expansion plans to take advantage of a changing regulatory environment amid rising distressed assets in the realty market. Stringent rules under the new Real Estate (Regulation & Development) Act, or RERA, are forcing unbranded and debt-ridden realtors to forge alliances with large, deep-pocketed corporate developers. This has opened up a potentially lucrative business opportunity for corporate entities as well as…
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On Monday the Ministry of Housing and Urban Affairs (MoHUA) launched the Goa Real Estate Regulatory Authority (RERA) registration portal. The central Real Estate (Regulation and Development) Act (RERA) came into effect on 1st May 2017 and Act made it mandatory for agents and developers to register their projects with RERA by 31st July 2017. Due to rules were not formulated on time, Goa had extended the time period for registration. As of now, brokers have time till February end to register and builders to register their project with the…
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MUMBAI: Housing Society Members who have a dispute with their builder over Redevelopments cannot seek relief under the Real Estate (Regulation and Development) Act (Rera). The state Rera last month dismissed a complaint filed by members of a Vikhroli housing society against their builder for failing to hand over their new flats for 11 years. They also accused the society’s managing committee of granting permission to the builder to add five floors without their approval. In a December 2017 order, MahaRera chairperson Gautam Chatterjee said the authority is not the proper forum…
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