Roofing installation in Seattle When planning a roofing installation in Seattle, homeowners need to consider local building codes that directly impact the design, materials, and safety requirements of their roof. Seattle’s unique climate, characterized by heavy rainfall, occasional snow, and strong winds, has led to specific regulations that ensure residential roofs are both safe and […]
Luxury Home Builders Assist With Custom Designs When you want to build your dream home, it is important to work with a team that will be able to help bring your vision to life. Many homeowners struggle with the decision to either go with a stock home plan or work with a custom luxury home […]
economic factors influence Belize real estate prices A growing number of Americans and Europeans are looking for a vacation home or retirement condo in tropical Belize. The country’s pristine beaches and lush rainforests, combined with its enchanting Mayan temples, have made it a popular tourist destination. As a result, the local economy is thriving, and […]
BENGALURU: The state cabinet on Wednesday cleared the long-awaited Real Estate (Regulation and Development) Rules, framed under the Real Estate Regulation and Development Act. The rules provide for creation of a real estate regulator. The Cabinet also decided to exclude realty projects that are complete 60% or more. All other real estate projects come under […]
MUMBAI: Maharashtra Real Estate Regulatory Authority (MahaRERA) chairman Gautam Chatterjee on Friday said the July 31 deadline for registration of ongoing projects will not be extended. So far only 300 projects and nearly 3,000 brokers have also been registered with MahaRERA, according to Chatterjee. “There is no question of extending the deadline for registration of […]
MUMBAI: With the advent of GST and RERA, developers would now have to adopt higher standards of performance compelling them to invest in project management, say experts. The government enacted the Real Estate (Regulation & Development) Act 2016 and all the sections of the Act have come into force with effect from May 1, this […]
NEW DELHI: Urban Development Minister M Venkaiah Naidu today said his ministry has asked all states to put in place regulatory mechanism related to the Real Estate (Regulation & Development) Act (RERA) by July 30. “I have been constantly following with chief ministers. I wrote two letters. Today my third and final letter is going […]
By Shaveta Dua The Real Estate (Regulation and Development) Act, 2016 (RERA), has given India’s real estate sector a new direction but there are some teething problems being faced by developers. To bridge the gap between the government, developers and consumers, Magicbricks organised an event ‘Real Estate – The RERA and GST Era’ in New […]
BENGALURU: Property brokers in Karnataka fear the Real Estate Regulatory Act (RERA) rules in the state will weigh on their business, which is already weak due to the slowdown in sales and demonetisation. The RERA rules, notified in the state on Monday, have almost halved broker registration fee from what was mentioned in the draft […]
By Yogesh Singh Primarily a consumer centric legislation, RERA has been touted to be the key to resolving the wide-ranging problems prevalent in the Indian realty sector. What RERA means for Consumers, Developers and Others: However, with the impending rules for its implementation and setting up of the RERA Authority in several States, its execution […]
BENGALURU: Homebuyers may stand to benefit from the provisions of the Real Estate (Regulation & Development) Act notified by the Karnataka government on Monday . It, among other things, brings a huge number of ongoing projects under the purview of the law. The government had come under criticism for the draft rules published last week […]
PUNE: With just a fortnight left to register ongoing projects under the Real Estate Regulatory Authority (RERA), Maharashtra RERA authorities are cranking up the heat. Real estate developers peg the number of ongoing constructions at 3,000-5,000, but RERA authorities say the actual number is higher than 10,000. On Saturday, RERA officials told TOI that 596 […]
PUNE: With just a fortnight left to register ongoing projects under the Real Estate Regulatory Authority (RERA), Maharashtra RERA authorities are cranking up the heat. Real estate developers peg the number of ongoing constructions at 3,000-5,000, but RERA authorities say the actual number is higher than 10,000. On Saturday, RERA officials told TOI that 596 […]
PUNE: With just a fortnight left to register ongoing projects under the Real Estate Regulatory Authority (RERA), Maharashtra RERA authorities are cranking up the heat. Real estate developers peg the number of ongoing constructions at 3,000-5,000, but RERA authorities say the actual number is higher than 10,000. On Saturday, RERA officials told TOI that 596 […]
PANAJI: With the Real Estate (Regulation and Development) Act (RERA) coming into force elsewhere in the country on May 1, the state ministry for urban development has finally moved to notify the rules under the legislation that was passed in May 2016. Sources said the state is expected to notify the regulations latest by July […]
Pune: Developers can from September 1 make revisions or corrections in their uploaded documents following MahaRera’s permission and a fee of Rs 5,000 for every change. MahaRera announced the changes on Monday through a circular issued to encourage developers to speed up the registration of their projects with the authority. The new circular comes a […]
New Delhi: A total of 21 states and union territories have notified the final rules of the real estate regulatory Act (RERA), while just two states have formed permanent RERA authorities so far, a top government official said on Wednesday. The government expects atleast 29 states and UTs to notify their rules by the July […]
While RERA or Real Estate (Regulation and Amendment) Act, 2016, will slowly change the way the real estate industry operates in India, the Act has also thrown open a few aspects that need extensive deliberation. One such issue is the liability of developers to provide for workmanship for structural defects for a period of five […]
NEW DELHI: National Real Estate Development Council (NAREDCO) will not move court against the implementation of Real Estate Regulation and (Development) Act (RERA), even with regard to ongoing projects, as it helps build confidence among buyers, said its president Parveen Jain. Confederation of Real Estate Developers’ Association of India (CREDAI) has also asked its members […]
NEW DELHI: A bunch of builders have approached two high courts challenging some of the key provisions in the Real Estate Regulation Act (RERA) including bringing all “ongoing” projects under regulation and penalties for failure to register such projects. They have pleaded that these provisions have retrospective effect since the projects were started when there […]
MUMBAI: Along with developers, agents too will have to prove their ‘honesty’ in real estate dealings to avoid stringent action under the new real estate regulatory authority (RERA) regime. According to the latest updates, around 4,300 of the 12,000 real estate agents or brokers across the state have registered themselves under RERA and another 4,000 […]
As the Real Estate Regulation and Development Act, 2016, crossed the Rubicon on May 1, it is going to change the way India invests into the real estate sector. Being a consumer-centric law, it is undoubtedly a delightful scenario for buyers. But there is one more dimension to it – jail term for a home […]
NEW DELHI: The Uttar Pradesh government will launch its RERA website on Wednesday, which will allow builders to start registering their projects under the new real estate law and, significantly, also grant them immediate registration numbers as opposed to the current system where the process takes up to a month. Once a real estate company […]
CHANDIGARH: The Haryana cabinet on Tuesday approved the final Haryana (Regulation and Development) Rules, 2017, claiming that the central Act had not been diluted. The only change made pertains to the definition of an ongoing project. Haryana town and country planning department had on April 28 notified draft rules under the Real Estate (Regulation and […]
GURGAON / NOIDA: Haryana and Uttar Pradesh’s RERA rules leave a majority of ongoing real estate projects in NCR outside the ambit of the new real estate law, with the number as high as 90% in Gurgaon, according to government and industry officials. The figures from Noida, the city worst hit by delays in delivery […]
NOIDA: Only eight projects were registered on the UP RERA website on Wednesday , the day it was launched, but some 15,000 homebuyers did not waste any time and made good use of the complaints section on the site to vent their frustration. The rush was such that by the end of the day the […]
Chennai: The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has warned developers of penal action if they fail to register ongoing projects with the body by July 31. With three days left and the official portal to register the projects being unveiled only two weeks ago, promoters in Chennai and elsewhere in the state are […]
Gurugram: Occupancy and completion certificates, two words that have forever been part of the real estate lexicon, have suddenly become keywords in deciding who Rera benefits most. All housing projects completed and delivered in Gurgaon have occupancy certificates, or OCs, but none has a completion certificate, a CC. There is a big difference between the […]
GREATER NOIDA: Out of the total 2.35 lakh residential units sanctioned by Greater Noida Industrial Development Authority since 2010-11 across 195 projects, only 20,000 flats have so far been registered and possession handed over to buyers, the authority said on Thursday. While another 36,000 buyers are expected to get possession by December 2018, the rest […]
NOIDA: Even as the builders heaved a sigh of relief after the launch of the UP-Rera website, which would help them instantly get a registration number, a crucial step to start promoting their projects, the buyers’ quarters expressed dissatisfaction with the character of RERA in its latest form, where it has been notified as per […]
BENGALURU: The Real Estate Regulatory Authority (RERA) has begun its activity in Bengaluru, and has started accepting registration of projects, agents and complaints. The birth of the Authority follows the State Government notifying the RERA rules, last month. “The regulatory authority has begun functioning, and the principal secretary is heading it for the time being. […]
MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) is planning to take suo motu action on property developers whose ongoing projects have not been registered with itself even after the July 31 deadline. Until 7:20 pm on Monday, about 9,000 ongoing projects and 7,200 property brokers in the state had applied for registration with the […]
Even though all states were supposed to have notified their RERA rules by July 31, 2017, only 15 out of the existing 29 states have complied by this deadline. However, all seven Union Territories have notified them. What is more, the central RERA has been diluted by many states regarding the inclusion of ongoing projects. […]
BENGALURU: The Karnataka Real Estate Regulatory Authority received a lacklustre response on the final day of registering property from builders as well as real estate agents. According to a source from RERA Karnataka, a total of 990 projects and 354 real estate brokers registered on the last day of registration. “The state government should have […]
MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has been given the additional charge of being the regulator for two Union Territories of Dadara Haveli Nagar and Daman & Diu, said an official of MahaRERA. The central government has already sent a directive to this effect to the state government. “Both the Union Territories of […]
The current score has reached the negative zone and Q4, 2015 levels. A score of 50 represents a neutral view; a score above 50 demonstrates a positive outlook; and a score below 50 indicates negative sentiment. Launches falling but outlook is positive 68% of respondents feel launches will improve in the next six months. These […]
PUNE: Even as the number of ongoing registrations touched beyond 11,000 with MahaRERA on Friday, Credai members on Saturday said that only 10 projects of their members were registered late. Maharashtra Credai president Shantilal Kataria said in a survey they found that only 10 developers had registered after the July 31 deadline. According to the […]
MUMBAI: Builders who have been thinking of ways to beat the new Real Estate Regulation Act are fast running out of time as banks, in consultation with the Reserve Bank of India, have decided not to extend loans to those projects which have not been registered under RERA. “We have to look for some security […]
CHENNAI: Potential apartment buyers take note: Realty watchdog Tamil Nadu Real Estate Regulatory Authority (TNRERA) has started to stake out its territory, with five agents/firms in the state enlisting with the body and receiving their registration numbers. The Tamil Nadu Real Estate (Regulation and Development) Rules, 2017, which the state government notified on June 22, […]
MUMBAI/BENGALURU: In the backdrop of demonetisation and implementation of the Real Estate (Regulation and Development) Act, 2016, residential real estate is finally tuning itself to end-user driven demand than pure investment. The second quarter of 2017 marked a record low for units launched across India, while sales continued to outdo new units being built in […]
Builders are pushing back the date of delivery of flats to buyers by several months and even years as a result of the new real estate law in the state. This has put many buyers in a bind because their agreements of sale with the builders mention a much earlier date. Developers registering projects with […]
BENGALURU: When the state government set up the Karnataka Real Estate Regulatory Authority (KRERA), it came as a bundle of relief for home buyers. But three months into its functioning, the regulator appears to have become another arm of bureaucracy, failing to live up to people’s expectations. Set up to enforce the Real Estate (Regulation […]
MUMBAI: In an interesting development, the Maharashtra Real Estate Authority (MahaRERA) has dismissed a homebuyer’s plea while asking him . 10,000 towards the cost of to pay ` the complaint to the respondent developer. The complainant, Dilip Purushottam Shirke, had filed a complaint against Kumar Builders Consortium to seek possession of his booked apartment in […]
Shveta Jain MD, Real Estate Private Wealth Services, answers queries from our readers on real estate: Since now RERA is implemented and regulators are already in place, am I assured of timely delivery and covered against misrepresentation? Can I ask a developer to share its RERA registration number? RERA is created to protect the home […]
MUMBAI: Home buyers are entitled to interest from the date of default under the original contract in ongoing projects and not from the date of registration of project under the Real Estate (Regulation and Development) Act (Rera), said the lawyer representing consumers, Shiraz Rustomjee, on Tuesday. “Maharashtra and Gujarat are the only states that have […]
MUMBAI: The appellate tribunal of MahaRERA has asked the secretary of the regulatory body to initiate action against an architect for issuing factually incorrect certificate to a project. While hearing an appeal, the tribunal found out that a builder during a hearing in MahaRERA had said that building has occupation certificate. However, it was found […]
A paper by industry lobby Assocham surmises that the Insolvency and Bankruptcy Code and the Real Estate (Regulation and Development) Act are pitted against each other, with the former offering relief to lenders and the RERA protecting home buyers. The surmise is not incorrect, but this contradiction can be easily resolved. All that is required […]
(This story originally appeared in on Apr 27, 2018) NEW DELHI: The implementation of the Real Estate Regulation (and Development) Act, 2016, in the country is woefully short of expectations even almost a year after all its sections became law on May 1, 2017. Of the 28 states (the act is not applicable in J&K) […]
On May 1, the Real Estate (Regulation and Development) Act, 2016 or RERA will turn a year old. Although certain sections of the Act were introduced on May 1, 2016, it came into force in its entirety on May 1, 2017. Before RERA, there was no real estate regulator in the country due to this […]
By Surendra Hiranandani The Indian realty entered a new paradigm last year with the implementation of the Real Estate (Regulation and Development) Act, 2016 or RERA. It is undoubtedly a path-breaking law that has revived buyers’ confidence and made developers cautious in the short term. While the Act is sure to benefit all stakeholders, there […]
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has asked various planning authorities in the state to act against 293 real-estate projects that are being developed without requisite permissions, said a top official of the authority.Interestingly, the regulator has gathered information about these projects through emails sent by various people on a specific email id floated […]
MUMBAI: The government is planning to bring tenanted or cessed buildings and tenants of such buildings under the Real Estate (Regulation & Development) Act, 2016 (RERA),providing for the first time the same protection to these consumers as those available to other home buyers. The tenanted or cessed buildings that dot the landscape of many cities, […]
(This story originally appeared in on May 16, 2018) Pune: The Maharashtra Real Estate Regulatory Authority tribunal is finally in place with the state government approving an appellate authority of three members. Retired high court judge Justice Indira Jain has been appointed its president. IAS officer S S Sandhu and Sumant Kolhe, associated with the […]
