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Air India, BPCL disinvestment will be done by March: FM

Sitharaman says the strategic sale of Air India and BPCL will be wrapped up by March

RERA

Nov 17, 2019, 12.40 PM IST

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RERA

‘Unregistered association can’t make RERA complaint’

In the absence of registration of the association, residents or allottees of the houses can file complaints in individual capacity or through power of attorney, says an important new order by the Gujarat Real Estate Appellate Tribunal.

Builders want homebuyers' plaints to go to RERA first

With most cases in the National Company Law Tribunal pertaining to real estate, several...

In a first, Haryana-Rera attaches land to raise funds for project

Passing the order against the builders, the Haryana-Rera bench said that th...

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  • Real estate services firm Anarock says, there are around 13,000 units in Kolkata worth Rs 7,300 crore that were launched and currently delayed.

    According to the homebuyers lobby, the condition that a stalled project can only access the fund if it's RERA registered has an inherent handicap as many states have just established the real estate regulator and some don't have it. For instance, Kerala and Himachal Pradesh, which have just formed it, do not have many projects registered with it.

    Real estate regulators from across states have gathered in Lucknow and sources said they would push for amendments in the Real Estate Regulation and Development Act (Rera) to give them more teeth, particularly to execute orders passed by them.

    While speaking at the first national conclave of Real Estate Regulatory Authority (RERA) in Lucknow, UP Chief Minister Yogi Adityanath asserted that for him the interest of those who stake their earnings for a home, is supreme. He also added that such people face problems as despite all the money being stuck, they also have to pay the bank loan.

    About 450 real estate companies/projects across the country are facing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) because of default in the delivery of projects to homebuyers as well as repayment of bank loans.

    The Nifty Realty index is the second best performing sector index on the NSE this year with a gain of 19 per cent.

    MahaRERA has decided to register realty developers and project promoters as self-regulatory organisations with the authority, and granted its first certification to the National Real Estate Development Council.

    There are 16 residential tower in the society and the builder had given possession of 14 towers. The remaining two towers left uncompleted and the buyer had moved RERA as the builder could not give possession. The buyers found that directors are in Jail.

    No matter how distressed developers are, and no matter how reasonably priced apartments look in 2019 compared to 2008 or 2013, the three basic rules of buying a house are still relevant now. As long as savers keep this in mind, they’ll be fine.

    Homebuyers in Gautam Budh Nagar have submitted an eight-point proposal suggesting ways to improve the UP-Rera Act ahead of the real estate regulatory authority’s first convention, to be held in Lucknow on November 4.

    In a letter to MahaRERA, the Forum for People’s Collective Efforts (FPCE) said the Real Estate (Regulation and Development) Act, 2016 (RERA) does not provide any provision to set up or register SROs of real estate developers.

    The Real estate act or RERA makes it mandatory for each state and union territory to set up its own real estate regulator and frame rules to govern the functioning of the regulator. This is aimed bringing in transparency and accountability in the real estate sector.

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