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.
MahaRERA: Buyers to decide fate of incomplete projects
The promoters, who have failed to meet the deadline after the first extension, would n...
Kerala-RERA gets complaints against 100 builders
K-Rera has scheduled hearings in February for both the complainant and the respondent. Offic...
Homebuyers in 25 stalled projects move MahaRERA
“The move will benefit stressed project where the developer had not been able to complete the project due to paucity of funds or any other reason for long period of time,” a MahaRERA official said. Experts from the real estate sector said while it was a good move.
MahaRERA high on registration, low on grievance redressal
The state has no information that will help make the consumers’ buying decision easier. The action-taken-report remains missing and the consumers and lawyers are mostly unhappy with the implementation of those orders.
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.
Gurugram developers may face penalty upto Rs 300 crore
As of now around 400 projects have been registered with the authority with total area of nearly one lakh acre. Around 2, 50,000 units are under monitoring of this authority, of which 60000 units are in the affordable housing segment.
UP RERA likely to bail out 48 pending housing projects
The state government will provide funds from special Rs 25,000 crore corpus created by the finance ministry to bail out the real estate sector. According to officials, it will screen recommendations before releasing funds to developers.
Residential launches may get deferred by 2-3 quarters: ICICI Securities
New launches planned in April-May 2020 will be pushed back till at least September 2020 to coincide with the festive season. The prospect of falling sales in ongoing projects and deferment of upcoming launches threatens to become a major dampner in coming months.
Coronavirus impact: Mumbai, Delhi property purchases see huge drop
The report said the impact has been most drastic in Mumbai and Delhi, while the situation in Bengaluru is slightly better.
Free legal assistance for distressed homebuyers from February 1
In the logjam between builders and homebuyers, the advocates of the Bar Association-run Legal Aid Cell will assist those in need of help.
65% of flat buyers defaulting on payments: MCHI-Credai
MCHI-Credai said it expected all construction activity to halt in the next two to three weeks as flat purchasers have virtually stopped paying instalments. It has asked the state government to suspend property tax and payment of various premiums to the BMC for one year without interest.
Despite demonetisation and RERA, builders still asking for cash
A recent survey by LocalCircles pointed out that cash continues to dominate the real estate market.
‘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.
What is RERA?
The RERA Act was brought in to eradicate problems within the sector.
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