Category: RERA News

RERA is Regulation, not Strangulation: Vice President

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Rera News

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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Corporate Developers look to make the Most of RERA Regime

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Apartment

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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Ministry Launches Goa RERA Registration Portal

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Rera

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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Blow to Housing Societies: Rera won’t hear Redevelopment Disputes

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Rera

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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Regulatory Transitions Pave the Way for Consolidation in the Real Estate Sector

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Rera

Sector to stabilise in 2018 as both real estate developers and customers become attuned to the changed regulatory scenario Regulatory changes introduced in the real estate sector such as implementation of the RERA regime, introduction of the insolvency and bankruptcy code and coming into force of Goods and Services Tax (GST) may have impacted its operational performance but are expected to pave the way for the industry’s consolidation going forward, says an analysis by ICRA. ICRA also expects that the industry will stabilise in 2018 as both real estate developers…

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Budget 2018: Housing Sector Eyes Lower taxes, Infra Status to Overcome Impact of GST, RERA and Demonetisation

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Rera

Mumbai: Severely impacted by various reforms like RERA, GST, and demonetisation, the realty sector is pinning its hopes on Union Budget 2018-19 for relief measures like lower taxes and infrastructure status. The year 2017 was an eventful one for the sector with many structural policy reforms, which resulted in a significant decline in home launches to 1,03,570 units compared to 1,75,822 in 2016. Industry players are expecting rationalisation of the GST rates from the current 12 percent to 6 percent and bringing stamp duty under the ambit of GST. “Also, industry…

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