Tag: Real Estate (Regulation and Development) Act 2016

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Karnataka RERA’s Bid for Financial Autonomy Hits Govt Wall

BENGALURU: Karnataka’s real estate regulatory authority is not lacking in funds; however, it is losing control over its financial resources. The Karnataka Real Estate Regulatory Authority (K-Rera) generates steady income from project registrations, agent fees, penalties, and various charges. However, its autonomy in fund allocation has diminished, with the state government assuming control over the dedicated regulatory corpus. The K-Rera Regulatory Fund was established by the Real Estate (Regulation and Development) Act of 2016 to ensure the authority’s financial independence. This fund was intended to allow K-Rera to independently manage its operations, including hiring personnel and processing complaints. However, this…

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MahaRERA Dues Recovery Stalls Despite Efforts by Officers

PUNE: The Maharashtra government’s effort to expedite the recovery of dues for distressed homebuyers is facing significant challenges. Despite assigning dedicated revenue recovery officers in critical districts five months ago, collections have only marginally increased by Rs10 crore. According to data from the Maharashtra Real Estate Regulatory Authority (MahaRERA), total recoveries rose from Rs270 crore in December 2025 to roughly Rs280 crore now. This slow progress continues despite a state mandate urging faster enforcement of recovery warrants. Concerns over the slow pace of recovery are amplified by the scale of the defaults. Since its launch in May 2017, MahaRERA has…

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Haryana RERA Awards Buyers Compensation for Gurugram Flat Delays

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRERA) has ordered developers to pay a total compensation of Rs 41 lakh to buyers for delays in delivering an apartment in Sector 86. The apartment was booked in 2015, but possession was not offered until 2018. On February 11, the HRERA’s adjudicating officer directed developers Microtek Infrastructures Pvt Ltd and Deepanshu Projects Pvt Ltd to compensate the allottees, NRI Mridula Parti and her brother Partha Sarathi De, due to an eight-year delay in the delivery of their apartment in the Greenburg project. The compensation includes approximately Rs 40 lakh for loss of…