The real estate sector evolved following economic reforms but ran into hurdles due to inadequate self-regulation and lack of regulatory mechanism.
Residential launches decline but demand for commercial office space and retail properties continues to drive fund flows.
More such joint ventures and joint development projects expected to come up in the post RERA era
The central act made it mandatory for the state governments to form RERA authority as well as the tribunal by 30th April 2017.
Post demonetisation, RERA, GST and insolvency proceedings against Jaypee and Amrapali, most developers are going all out to woo buyers with realistic, sentiment boosting’ marketing strategies.
Recenlty a builder offered a house on rent in a completed project till the time the new unit is ready for possession. This, say experts, is a way to enhance sales in a relatively slow-moving market.
Under RERA, the promoter of a real estate project is obliged to obtain the requisite insurance policies required to secure the development of project and insurances as may be notified by the government.
The total carpet area of projects registered under MahaRERA as per recent data available, was 84.62 mn sq ft
Homebuyers in Karnataka have filed a writ petition in the high court challenging the “explanation” attached to 'ongoing projects' rule in the Karnataka Real Estate (Regulation and Development) Rules 2017.
The focus at the convention was on the three tsunamis that have hit the real estate sector in the past one year namely demonetization, RERA and GST. Here are 5 takeaways from the convention.
The Punjab and Haryana High Court has admitted the petition filed by Gurgaon Citizens' Council and DLF Qutub Enclave Residents' Welfare Association and directed the state government to appear before it for the next hearing on November 23.
Here's a round-up of key developments in the personal finance space this week.
The residential market witnessed a 17 percent decline in the number of new launches since the second half of 2016 with 40,600 new units introduced in the first half of 2017 in prime cities.
While there is no specific provision under RERA that allows states to extend the time period for registration for three months, most of them are doing so by interpreting the penalty clause
Banks now want additional collateral such as private properties of promoters as a guarantee while providing loans to real estate developers.
Under RERA, it may be inappropriate for interim authorities to continue after the one-year deadline that expired on April 30, 2017 but courts cannot strike down decisions taken by interim authorities appointed before May 1, 2017
Most states have not followed the the central government's RERA guidelines in law and spirit.
Citi has retained a buy on Oberoi Realty with a target price of Rs 470 while CLSA has also maintained a buy on the stock with a target of Rs 484 despite impact from GST and RERA.
Mere laying of slabs to simply filing an application for completion certificate before notification of rules enough to keep ongoing housing projects in some states out of the purview of RERA
To discuss the implications of all the recent reforms on the developers and buyers, News18.com held third edition of its Global Indian Realty Summit in association with Angelo’s VNCT Ventures in Mumbai on Thursday.
Buyers are distraught with the diluted version of UP RERA rules as it leaves most old projects outside the ambit of the act
Over 200 developers and more than 90 agents have registered so far. More likely to follow
They are hand-holding small and medium developers to complete unfinished projects and even go the extra mile to sell unsold inventory on their behalf.
In the medium term, non-serious real estate players may find complying with RERA provisions difficult, leading to partial or full exit from projects.
Venkaiah Naidu is credited with ushering in an urban renaissance in the country. It is because of his efforts that the much-delayed Real Estate (Regulation and Development) Bill was finally cleared by both Houses of Parliament last years after almost eight years.