Tag: RERA

Latest StoriesRera

Karnataka RERA Chair: Reject Subpar Services, Citizens!

BENGALURU: Rakesh Singh, chairman of the Karnataka Real Estate Regulatory Authority (K-RERA), has warned citizens not to allow promoters to deceive them when purchasing real estate. He emphasized that they should not tolerate subpar services and can reach out to his organization for assistance in case of issues. Singh highlighted the significance of the Real Estate (Regulation and Development) Act, 2016, stating that it marked a pivotal change in India’s property landscape by providing buyers with a legal framework to safeguard their interests. He made these remarks at the RWA Excellence Seminar organized by Nemmadi.in in Bengaluru on Saturday, which…

Latest StoriesRera

Haryana RERA Orders Builder to Compensate Buyer 11% Interest

GURUGRAM: The Haryana Real Estate Regulatory Authority (H-RERA) has ordered Godrej Real View Developers to pay a compensation of 10.8% per annum to a couple from Lucknow for the delayed possession of their flat in Godrej Meridien-I, located in Sector 106. This decision, made by member Ashok Sangwan, follows a complaint from Malik Ram and Sarita Verma of Gomti Nagar, Lucknow. They approached H-RERA under Section 31 of the Real Estate (Regulation and Development) Act, 2016. H-RERA dismissed the builder’s claims regarding Covid-19 and pollution-related construction bans as force majeure events, highlighting that these do not justify the delay beyond…

Latest StoriesRera

RERA Boosts Property Deal Transparency: Tamil Nadu Chairman

MADURAI: Homebuyers often face challenges due to a lack of information when purchasing properties. However, with the implementation of the Real Estate (Regulation and Development) Act (RERA), buyers can now easily verify project details through the official website, according to Shiv Das Meena, chairman of the Tamil Nadu Real Estate Regulatory Authority (TNRERA). Speaking at an awareness program on Saturday, Meena introduced an explanatory manual on RERA regulations, emphasizing the Act’s role in promoting transparency, accountability, and credibility in the real estate sector. He noted that RERA has revolutionized the home buying process in the state by establishing a safer…

Latest StoriesRera

RERA Boosts Transparency in Tamil Nadu Property Deals

MADURAI: Homebuyers often face challenges due to limited information during property purchases. However, with the implementation of the Real Estate (Regulation and Development) Act (RERA), they can now easily verify project details via the official website, according to Shiv Das Meena, chairman of the Tamil Nadu Real Estate Regulatory Authority (TNRERA). During an awareness program held on Saturday, Meena introduced an explanatory manual on RERA regulations, emphasizing the Act’s role in promoting transparency, accountability, and credibility within the real estate sector. He noted that RERA has transformed the home-buying process in the state, establishing a secure and trustworthy investment atmosphere.…

Latest StoriesRegulatory

Uttarakhand HC Supports RERA Order on Paratus Real Estates

DEHRADUN: The Uttarakhand High Court has affirmed a RERA order mandating Paratus Real Estates Pvt Ltd to pay 50% of the penalty amount prior to its appeal, dismissing the developer’s argument that only 30% was required under the Real Estate (Regulation and Development) Act, 2016. Justice Pankaj Purohit of a single bench rejected two similar petitions from the company and chose not to interfere with the RERA directive, emphasizing that the “Act is designed to protect consumers’ interests in the real estate sector and should be interpreted rigorously.” On March 28, RERA Dehradun instructed the promoter to refund Rs 22,69,159…

Latest StoriesRegulatory

SC directs states and UTs to enhance real estate agencies

BHUBANESWAR: The Supreme Court has issued important directives to enhance the functionality of real estate regulatory authorities throughout India, including the Odisha Real Estate Regulatory Authority (ORERA). The ruling in the case of Mansi Brar Fernandes vs Shubha Sharma and others, delivered on September 12, requires states and Union Territories to implement thorough measures to empower RERA bodies to effectively manage the sector. The SC’s directive underscores the necessity for adequate staffing and infrastructure within RERA authorities. Every RERA must include at least one member who possesses legal expertise or experience as a consumer advocate in real estate. This aims…

Latest StoriesRegulatory

SC Urges IBC Reform, Seeks Revival Fund for Real Estate

The Supreme Court, on Friday, called for significant reforms in the Insolvency and Bankruptcy Code to regain trust in the regulatory framework. The Court also urged the government to create a revival fund to finance distressed real estate projects that are undergoing insolvency proceedings. The bench, composed of Justice J.B. Pardiwala and Justice R. Mahadevan, emphasized that the Right to Housing transcends mere contractual obligations, forming a core aspect of the Right to Life under Article 21 of the Indian Constitution. The government cannot adopt a “mute spectator” stance and must protect the interests of homebuyers and the economy. Insanity…

Latest StoriesRera

Housing Ministry Unveils Unified RERA Portal

NEW DELHI: In its fifth meeting, the Central Advisory Council (CAC) witnessed Union Minister of Housing & Urban Affairs, Manohar Lal Khattar, launching the unified RERA portal (rera.mohua.gov.in). This platform is designed to enhance transparency and facilitate the sharing of best practices among States and UTs. “The launch of the Unified RERA Portal marks a significant advancement in promoting transparency and accountability within the real estate sector,” stated the housing minister. He also emphasized that RERA has empowered homebuyers, ensured timely project deliveries, and introduced discipline within the sector. Khattar urged States and UTs to implement RERA thoroughly to safeguard…

Latest StoriesRera

Unified RERA Portal Expected by March to Track Developers and Projects

PUNE: Homebuyers will soon be able to monitor real estate projects and developers throughout India via a unified digital platform. The Union Ministry of Housing and Urban Affairs, in collaboration with the All India Forum of Real Estate Regulatory Authorities (AIFORERA), is working on a comprehensive RERA portal. AIFORERA officials informed TOI on Monday that this integrated IT platform, expected to launch by the end of March, will consolidate all state real estate regulatory authority (RERA) websites into a standardized format. This initiative aims to enhance navigation, improve transparency, and empower buyers to make informed decisions. “Currently, buyers must navigate…

Latest StoriesRera

Developers Receive Gujarat RERA Notices for Pre-Registration

AHMEDABAD: The Gujarat Real Estate Regulatory Authority (GujRERA) has commenced issuing notices to developers who are marketing their projects and taking bookings prior to obtaining RERA registration, which violates the RERA Act. Sources report that GujRERA plans to launch a significant campaign against this practice statewide. The authority has also introduced new marketing regulations that will take effect on June 15. According to a source, “The authority has issued warnings to several developers who began promoting their projects and accepting bookings without registering them with RERA. This measure is aimed at ensuring customer safety. In addition to responding to public…