Real estate research firm Knight Frank analysed 60 rulings; grievances are being resolved within one month.After RERA was put in place, instead of spending years in consumer courts, homebuyers are now able to get their grievances resolved within one month in Maharashtra
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Six states and union territories have established permanent Real Estate Regulatory Authority and 23 States/UTs have established interim Real Estate Regulatory Authority. As many as 26
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The Department of Municipal Administration and Urban Development has intensified its efforts to implement the mandate under the Real Estate Regulation Authority (RERA) for monitoring the real estate deals in the State.
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Nearly a month after the government had officially notified the much debated Real Estate (Regulation & Development) Act (RERA), the real estate industry is watching with much trepidation when and the how the process is going to kick off.
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After months of delay, most Indian states now have a real estate regulator. Since May 1, more than 18,600 projects have been registered in eight big states alone, allowing buyers a peek into what is on market and to seek remedy in case of a delay or cost overruns, data shows.
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For Amol Nizapkar, an executive with a wealth management firm in Mumbai, the wait for the new regulatory regime has been worth it. “Now every detail about a project is well-documented. There is an obligation on part of the developer to complete the project on time or pay the penalty for delays,”
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