Lockdown: UP-RERA invokes 'force majeure', builders get 6-month extension to complete projects
The six months extension will also be provided to such projects that have already availed one-year extension as provided in the RERA Act on or after March 25. UP RERA Secretary Abrar Ahmed said no fees will be charged from the promoters for the extension.
COVID-19 impact: Most prospective homebuyers prefer reputed pvt builders, govt authorities
"COVID-19 has changed buyer preferences with more ...
After builders’ appeals, Rera will relax delivery timelines
Naredco-UP, a body of realtors, wrote to Rera on Monday that it couldn’t honour t...
Amrapali flats: SBI Capital told to give funds
The bench said it is the court which has taken on the task to complete the projects, which precludes any chance of misuse of funds. Supreme Court’s Amrapali order is expected to bring relief for 46,000 homebuyers.
MahaRERA invokes force majeure to provide relief till September 15
Experts say developers should not use the provision to delay rent to buyers in redevelopment projects.
Promoters caught in MahaRERA and coronavirus crisis, possession to be delayed
The slowdown in the real estate sector is going to affect the buyers as delays are likely to creep in for the possession of their dream homes.
Realtors pin hope on festive season, may offer freebies
Many builders in the city are offering a component in property registration, free club membership, cash discount and gifts among other items. A few realtors said clearing unsold stocks in the present market will turn out to be difficult.
No registration fee, stamp duty for first sale of apartments in Tamil Nadu
The move comes in the wake of some sub-registrar offices demanding to register the apartments attracting stamp duty and registration fee. However, it is applicable only on the first sale of the property.
Homebuyers’ body FPCE, MP Rajeev Chandrasekhar oppose 6-month extension for project completion
Among the state authorities, Maharashtra, Karnataka and Uttar Pradesh have extended the project completion deadlines by 3 months, while Madhya Pradesh and Tamil Nadu has extended the same by 6 months.
Kerala-RERA gets complaints against 100 builders
K-Rera has scheduled hearings in February for both the complainant and the respondent. Officials said complaints have been received against projects dating back to 2010, 2014 time-periods. Complaints against real estate builders and promoters have crossed 100.
Home buyers in Hyderabad seek discounts, easy payment schedules
Industry insiders say that they are already receiving feelers about an upward revision in the price of cement, steel and other raw material, soon after the market resumes work.
Centre will take a call on realtors' demand in a week
National Real Estate Development Council (Naredco) has put forth these demands to the housing ministry at a time when Covid-19 has dealt yet another body blow to the residential real estate market with project delays.
Kochi: Builders worried about cement becoming unusable
As cement has been kept idle for more than a month contractors and home builders are worried their stocks would become unusable. Small scale contractors and people who are building their houses and properties say the cement they have stocked have already started to cake. Even cement vendors are concerned about the stock that has already become useless.
Start work or pay Rs 1 crore fine a day, H-Rera tells Greenopolis builders
The Haryana Real Estate Appellate Tribunal had earlier rejected developers’ plea to stay the order passed by H-Rera in January last year, where H-Rera imposed a penalty on the developers and attached 10 acres of their land for not completing the project on time.
Mumbai builder to pay Rs 2 crore for not delivering flats
The order has come from National Consumer Commission which asked Mumbai based developer and firm's director to pay compensation where the buyer had not delivered the flat.
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