Real Estate Regulatory Act – Rera Consulting

RERA yet to resolve malpractices in real estate sector: Experts

March 13, 2019October 15, 2019 ncrcollateral

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…

Jaypee Infra insolvency: Can homebuyers get relief under RERA?

September 9, 2017July 9, 2018 ncrcollateral

An all-India homebuyers group, in a letter to the Prime Minister Narendra Modi, has sought an amendment to the Insolvency & Bankruptcy Code 2016 to ensure that homebuyers’ interests are protected during insolvency proceedings, and has also brought to his notice that Real Estate

RERA registration in Rajasthan: Developers to pay 2% of project cost as penalty for delay

September 8, 2017July 9, 2018 ncrcollateral

Jaipur: The Real Estate Regulatory Authority (RERA) has announced that the developers who haven’t yet registered their ongoing projects can do so after depositing a penalty of 2% of project cost or 10 times of registration fee, whichever is more.

Face-off between builders and government to intensify as RERA kicks in

August 29, 2017April 4, 2018 ncrcollateral

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.

100 days of Rera: Confusion led to realty purchases getting postponed

August 29, 2017April 4, 2018 ncrcollateral

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,”

Registration of builders under RERA made compulsory in Himachal Pradesh

August 24, 2017April 4, 2018 ncrcollateral

SHIMLA: Registration of builders under Real Estate Act is now compulsory and a portal has been developed to facilitate online registration, Chief Minister Virbhadra Singh said on Monday.