RERA News – Page 12 – Rera Consulting

Awareness of apartment owners on RERA necessary

April 4, 2018July 25, 2018 ncrcollateral

Kakinada: Kakinada Federation of Apartment Owners Association president Tatavarthi Srinivasa Rao, has underlined the need to bring awareness among apartment owners on Real Estate Regulation Act (RERA) to avoid cheating by some realtors. Participating in the association general body meeting held here on Monday, he said the persons who wanted to purchase fixed assets such as apartments or individual houses should verify whether the respective assets were having proper documents etc or not. He advised them not to attract to the impressive advertisements of realtors. Later, election was conducted to elect…

State builders have only two days to register under RERA

March 31, 2018July 21, 2018 ncrcollateral

PANAJI: Minister for Law and Judiciary Francis D’Souza, on Thursday, said that around 150 builders and real estate agents in the state have applied for registration on Goa’s Real Estate Regulatory Authority (RERA) portal up till March 23, 2018, which was the deadline for doing so. “Now, the remaining ones will have to pay the fine of Rs 50,000 and get themselves registered under RERA by March 31, 2018,” he added. Interacting with the pressmen, at the state Bharatiya Janata Party headquarters, D’Souza said that although approximately 150 builders and…

India: RERA: Registration Of Real Estate Projects- A Brief Overview

March 31, 2018July 9, 2018 ncrcollateral

The real estate sector has been one of the top-most contributors to the country’s Gross Domestic Product (GDP) and employment creation. Surprisingly, inspite of being such an important part of the economy, the real estate sector was unregulated for numerous years. In order to regulate the aforesaid unorganized sector, the Indian Parliament passed a legislation called as The Real Estate (Regulation and Development) Act, 2016 (“RERA“) which was made effective on May 1, 2016. A batch of writ petitions was filed by real estate developers and individual plot owners in…

MahaRERA gets 2,000 complaints

March 9, 2018July 9, 2018 ncrcollateral

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…

MahaRERA’s 15 conciliation benches to be operational from Feb 1

January 31, 2018July 9, 2018 ncrcollateral

MUMBAI: The Maharashtra Real Estate Regulatory Authority or MahaRERA’s much-awaited 15 conciliation benches will start functioning from February 1.These benches comprising two members each, one from realty developers’ industry body and another from consumer forums, representing homebuyers would aim to provide faster relief to aggrieved entities. These teams have been formed in the backdrop of MahaRERA receiving many complaints and looking to create a filter. This body can be approached by homebuyers and builders for reaching a consensus, thus leaving only matters that cannot be resolved for MahaRERA’s intervention. The…

MahaRERA launches India’s first conciliation forum under RERA

January 31, 2018July 9, 2018 ncrcollateral

MahaRERA has officially announced the launch of its conciliation forum which will consist members of developers as well consumer associations. The forum will come into effect from February 1 and the hearings before the conciliation benches are expected to begin from the first week of March. A dedicated website has been created and it has also been linked to the MahaRERA website. The conciliation bench is expected to arrive at the settlement within 45 days from the date of the reference to the bench. Ten conciliation benches will be set…