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Maharashtra, Gujarat, Karnataka, Madhya Pradesh and Uttar Pradesh lead in project registrations among states and Union Territories
All real estate projects will continue to be under the purview of UPRERA for five years even after a CC and OC have been issued
Illiquid projects, a slump in the real estate market and poor due-diligence have all contributed to the poor returns of these funds
Buyers also want these officials be brought under the ambit of the Central Vigilance Commission (CVC) and all orders to be subjected to an audit by the Comptroller Auditor General of India (CAG) to keep check on the adherence to RERA provisions
Many of the real estate sector’s problems are its own creation
In case a stressed asset fund is constituted, experts feel developers should not be given a bailout package
Finance minister is contemplating to set up stress fund for various infrastructure sectors, including real estate and power, Mishra said at the 15th National Convention of NAREDCO - Housing for all 2022
Registration of undivided share (UDS) of land can go a long way in saving hapless buyers from marauding builders
Homebuyers have demanded that the government orders a forensic audit for all realty projects pending for over three years and set up a task force to ensure delivery
There is always a chance of the flat buyer being short-changed. It’s all about making a fair disclosure to her
FM held discussions with realtors, homebuyers, RERA officials.
A buyer cannot be forced to take possession if the project in incomplete, the unit has been handed over only for the sake of meeting the deadline, amenities are not in place and the unit does not meet specifications as promised
The law, which was passed in 2016 but came into effect from May 2017, seeks to bring transparency into the sector by eliminating fly-by-night operators.
The Supreme Court order has got home buyers their rightful place. More importantly, it has restored their dignity.
Improper due diligence has not only led to a pile of up of non-performing loans but now, also puts in danger banks’ status as secured creditors. If this happens in case after case, the recent IBC amendment which reinforces their supremacy in case of recoveries will be a hollow victory.
All states, including West Bengal, have already given their commitment by signing an MoU from PMAY-U under which in the event the Centre comes up with the Model Tenancy Act, the states would either have to enact the same Act or align it with their existing rental laws
It also called upon NBCC to takeover all stuck projects.
Matter listed for next month for final hearing.
Mumbai had the highest number of vacant homes with nearly 4.8 lakh units, followed by Delhi and Bengaluru with nearly 3 lakh homes each, says a report
RERA provides proper protection to homebuyers, and the states were given powers by the law to notify their respective rules and appoint regulatory authorities such the Real Estate Regulatory Authority.
RERA notified in 30 states and union territories so far; 28 have set up regulatory authorities, the Survey noted.
Homebuyers have asked the ministry to convene regular interactions between state governments, regulatory authorities and central advisory council members for “timely, effective and coordinated implementation of RERA”
Next week, Supreme Court will be hearing homebuyers plea seeking not to send Jaypee Infratech Ltd into liquidation.
The interim budget having paved a solid path for the upcoming budget, some clarity is now expected on many points of contention surrounding taxation in real estate.
All the good work done by RERA goes down the drain if justice is delayed and not delivered.