Category: RERA News

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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Uttar Pradesh builders to get rating from next year

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RERA Cosulting

New Delhi: Real estate builders and projects in Uttar Pradesh will receive a rating from next year, a move seen helping potential investors and homebuyers make informed decisions. A consultant appointed by the Real Estate Regulatory Authority (RERA) of Uttar Pradesh has finalised a rating system which is linked to disclosures required under the RERA Act, Rules and Regulations. The grading, to be done annually, will be based on a developer’s track record and background, financial profile, construction quality, buyer feedback and legal status of the project, according to UP-RERA…

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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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Rera registration seems to be a rarity for city developers

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The Dos and Don’ts of NRI Investing In Indian Realty

BENGALURU: About a thousand housing projects in the state, most of them in Bengaluru, are under the scanner of the state’s Real Estate Regulatory Authority (Rera), for failing to register with the regulator and ignoring their notices. As a result, customers of flats at these residential projects will lose their right to approach the Rera if they face a problem with the seller. Rera polices only those projects that are registered with it. The real estate regulator has put out a list of such projects on its website — this…

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RERA notified in 30 states, 42,000 projects registered: Centre to SC

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RERA consulate

New Delhi: The Centre has told the Supreme Court that the Real Estate (Regulation and Development) Act (RERA), which is meant to address grievances of home-buyers, is being implemented across the country and 30 states and Union Territories have so far notified the rules. Responding to the SC’s query on the status of implementation of Rera, the Centre in a report informed the court that 42,726 housing projects and 33,906 real estate agents have been registered under the 2016 Act and more than 20,000 disputes have so far been resolved…

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