Tag: Rera india

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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Amrapali home buyers object to sale of commercial space in housing projects

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Amrapali home buyers object to sale of commercial space in housing projects

NOIDA: Even as the Supreme Court-appointed receiver has started the process for tripartite agreements for Amrapali buyers, a section of them has objected to the sale of commercial space violating building laws in almost all housing projects of the embattled developer. Though the court is yet to give a final order on the issue, receiver R Venkatramani has asked the Noida and Greater Noida authorities to maintain status quo on all such commercial properties till the judges take a call. The Amrapali buyers have claimed that the permission to host…

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NCLAT reserves orders in Raheja Developer’s insolvency case

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NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has reserved its order in the Raheja Developer’s insolvency case. Navin Raheja, chairman and managing director of the company, had appealed against the NCLT order which triggered the corporate insolvency resolution proceedings (CIRP) against it in August 2019. The court ordered Jitesh Gupta, the interim resolution professional, to not make any publication calling for claims and to not constitute committee of creditors. NCLAT allowed Raheja to negotiate the matter with home buyers to reach any settlement. The buyer had filed a…

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RERA yet to resolve malpractices in real estate sector: Experts

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PUNE: Experts have said that the RERA, which was envisaged to usher in more transparency in the real estate industry, is yet to be an effective deterrent against malpractices. As the RERA is a small quasi-judicial and administrative body (with three members and a few adjudicating officers for the entire state), it does not have the bandwidth to look into the details of over 19,000 registrations that were granted by the body in the state, so far. The adjudicating officers themselves have powers to look at only certain sections of…

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Over 1,000 realty developers keep dodging RERA notices

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BENGALURU: With over 1,000 real estate projects in the state not registering with the Real Estate Regulatory Authority (RERA) and their proponents not responding to repeated notices, the authorities are in a fix. Two days ago, the Karnataka-RERA secretary wrote to the Confederation of Real Estate Developers Association of India (Credai), requesting it to facilitate the registration of unregistered projects by encouraging promoters/developers to appear before the Authority. Referring to the 1,076 projects “under investigation”, which have been identified by RERA for not having registered with the body, the authority’s…

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