Blogs

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

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Rera consultants

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…

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MahaRERA launches India’s first conciliation forum under RERA

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Rera news

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…

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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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