Rera

Rajasthan govt plans to take action against sale of non-Rera projects

According to Rera regulations, if a promoter fails to submit three quarterly progress reports, the system automatically initiates a non-compliance process. The project can also be declared lapsed

FPCE urges RERA law changes, seeks rules to verify promoters' record

Homebuyers' body FPCE has demanded that real estate law 'RERA' should be amended to incorporate a mechanism for verifying the track record of builders before granting permission to launch projects for sale. It also sought a new provision in the legislation to ensure compensation to homebuyers if builders fail to meet their promise of providing certain facilities and amenities. The association has also demanded a uniform rule for refund of money in case of cancellation of units by property buyers. Forum For People's Collective Efforts (FPCE) President Abhay Upadhyay has written a letter to Union Minister of Housing and Urban Affairs Manohar Lal, seeking amendments in the Real Estate (Regulation and Development) Act, 2016 (RERA) to give more teeth to regulators for protecting the interest of consumers. Through his letter, Upadhyay, who is also a member of Central Advisory Council, RERA formed by the ministry, has tried to highlight certain critical gaps in the RERA Act, causing ...

One portal, all projects: What the new unified Rera means for homebuyers

Check approvals, track project progress, and verify developer details, now all in one unified Rera portal for hassle-free homebuying.

Rera reshapes India's housing market, boosts investor confidence: Report

Knight Frank-Naredco report says Rera has curbed speculation, moderated prices, restored consumer trust and attracted long-term investor inflows into India's housing sector

Meghalaya govt sets up real estate regulatory authority under 'Rera Act'

The Meghalaya government has notified the Real Estate Regulatory Authority to regulate the state's emerging real estate sector and ensure transparency, accountability, and consumer protection, officials said on Saturday. The Authority is being established under the Real Estate (Regulation and Development) Act, 2016. Officials said the authority aims to promote fair practices, protect homebuyers' interests, resolve disputes efficiently, and boost investor confidence by streamlining project approvals and enforcing compliance. RERA Meghalaya oversees the registration of real estate projects, promoters, and agents, and ensures adherence to the provisions of the Act and rules framed thereunder. It also includes an adjudication mechanism for timely dispute resolution and regulatory oversight. The Authority functions as an independent statutory body with a full-time chairman and two members. RERA Meghalaya has urged all developers, promoters, and real estate agents operating in the stat

Buyers risk losing legal remedies without registered agreement for sale

If promoter demands more than 10 per cent without a registered agreement, halt payments and file a complaint with RERA

IBC requires urgent reforms to meet demands across various sectors

Court orders and reforms do not compensate for the legislative clarity needed in IBC for sector-specific insolvency processes

Primary or secondary market home buy? Check budget, risk appetite to decide

You may get a lower price in the secondary market, but you must be prepared for a high upfront payout

Homebuyer in Bengaluru wins Rs 2.56 cr refund as builder delays apartment

Karnataka RERA confirms developer did not fulfill obligations agreed upon at time of sale

Top 10 states with highest RERA project registrations: Maharashtra, TN lead

Maharashtra leads with highest number of projects registered with RERA, accounting for 40% share, followed by Tamil Nadu 17% share.

Builder-buyer agreement: Better after Rera, but buyers must remain vigilant

Builder-buyer agreements tended to be one-sided. "Delivery schedules frequently stated 36-42 months but were vague about when this period began

Homebuyer awarded Rs 2.26 cr for 10-year delay in flat possession

Haryana RERA's order in case underscores the legal obligations of real estate companies and homeowners' rights, say legal experts

Include land authority in CoC for real estate insolvency cases: IBBI

The IBC has seen successful resolution in 46 per cent of cases admitted in the real estate sector as of June 2024, IBBI data shows

Haryana regulator asks 4 developers to hand over flats in 90 days

Companies may appeal against directive with RERA Appellate Tribunal, according to expert

FPCE challenges MahaRERA's move to create forum for builder-buyer disputes

Homebuyers' association FPCE has questioned Maharashtra real estate regulator MahaRERA's decision to constitute and be part of a conciliation forum to settle dispute between builders and customers, saying the law does not give such power and the move can lead to possible conflict of interest. Forum for People's Collective Efforts' (FPCE) President Abhay Upadhyay has written a letter on August 19 to Union Ministry of Housing and Urban Affairs Additional Secretary Satinder Pal Singh objecting to the conciliation forum constituted by MahaRERA and its "suspicious functioning". The association has asked the ministry to investigate the constitution of this forum, its functioning and also orders passed, to ascertain whether the forum is favouring builders. "Maharashtra Real Estate Regulatory Authority (MahaRERA) has constituted Conciliation Forum for amicable settlement of dispute between promoter of real estate projects and allottee under Section 32 of Real Estate (Regulation and ...

Reforms, initiatives helping transform an industry plagued by problems

Government data shows that so far, some 122,000 real estate projects have been registered under Rera, with over 121,000 consumer grievances addressed nationwide

Vacuum for Indian MSMEs seeking growth finance: Nishu Malhotra, ADM Capital

In India, shift to private credit, Nishu said, started before the Covid era, driven by regulatory reforms including the Insolvency and Bankruptcy code, Real Estate Regulatory Authority (RERA) Act etc.

MahaRERA proposes to make developers mention amenity details with deadlines

Developers in Maharashtra may soon have to mention the finer details of amenities at housing projects and a deadline by when they will be available for use to buyers, the state's real estate regulator said on Monday. MahaRERA, the real estate watchdog, has proposed the norms to put an end to the uncertainty of guaranteed facilities and amenities in housing projects, according to a statement. Residents may be "enticed" by the vision of a swimming pool, gym, or a community centre, but the agreement often remains silent on when these facilities and amenities will become available or what their specifications might be, the statement said. The lack of clarity can lead to unfulfilled expectations and potential disputes in future, it said. At present, the 'Schedule Two' of the Model Agreement for Sale only mentions the facilities and amenities but does not provide for any details with regards to their features and delivery date, the regulator said. "The proposed order now makes it mandat

31 million jobs created in real estate under Modi government: Report

The measures taken, it says, can catapult the size of the Indian real estate market from $20 billion in 2017 to an estimated $1 trillion by 2030

Developed India will need matured, better real estate sector: Puri

Housing and Urban Affairs Minister Hardeep Singh Puri on Friday said a highly matured and developed real estate sector with an estimated market size of USD 1 trillion by 2030 is needed to achieve the vision of a developed India by 2047. Addressing an event organised by realtors' body CREDAI's youth wing, the minister said the enactment of real estate regulatory law 'RERA" has been a transformational development for the entire sector. "A developed India by 2047 will also require a highly matured and developed real estate sector, both in the residential and the commercial segment," Puri said. He highlighted that investments are coming into commercial real estate including data centres and warehousing. The establishment of Real Estate Investment Trusts (REITs) has also helped in attracting investments into the real estate sector, the minister added. "RERA was a transformational development. It is unbelievable that one of the largest sectors in the economy didn't have a regulator for