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  • UP RERA imposes penalty of Rs 1.39 crore on 13 real estate developers Sep 23, 2022 03:35 PM IST

    UP RERA imposes penalty of Rs 1.39 crore on 13 real estate developers

    UP RERA, at a meeting held under the chairmanship of Rajive Kumar on September 23, reviewed the status of compliance with its orders by the promoters and issued the directive.

  • MC Exclusive | Over 50% projects tagged ‘ongoing’ since MahaRERA, still await completion Sep 21, 2022 11:09 AM IST

    MC Exclusive | Over 50% projects tagged ‘ongoing’ since MahaRERA, still await completion

    Out of the total 9,637 real estate projects that have been completed, 20 percent got an extension for completion by MahaRERA

  • Urban planning should be decentralised and be done by states, says PM Modi Sep 20, 2022 02:17 PM IST

    Urban planning should be decentralised and be done by states, says PM Modi

    RERA has brought transparency to the real estate sector and protected homebuyers, Modi said. The PM also stressed the need for building audits to prevent collapse and fires, which, he said, remained a major concern in cities

  • MahaRERA allows developer to de-register South Mumbai project, paves way for more such exits Sep 19, 2022 03:36 PM IST

    MahaRERA allows developer to de-register South Mumbai project, paves way for more such exits

    The state real estate regulator says it can't force the developer to complete the project, allows de-registration after two-thirds of buyers agree to it and are refunded money with 9 percent interest. Experts say the order could pave the way for developers to explore this option if a project is commercially unviable.

  • MC Explains | The difference between RERA-registered, 'approved' and compliant projects Sep 14, 2022 02:10 PM IST

    MC Explains | The difference between RERA-registered, 'approved' and compliant projects

    Some developers suggest their projects are RERA-approved when in fact they have only been registered with the real estate regulator and are not compliant with post-registration requirements

  • MahaRERA to inspect construction sites for financial wrongdoings, over 300 large projects on radar Sep 08, 2022 03:29 PM IST

    MahaRERA to inspect construction sites for financial wrongdoings, over 300 large projects on radar

    The regulator plans to hire private investigators, who will visit construction sites and prepare status reports.

  • MahaRERA orders developer to deduct 2% , not 10%, of the price of apartment for cancelled booking Sep 06, 2022 04:54 PM IST

    MahaRERA orders developer to deduct 2% , not 10%, of the price of apartment for cancelled booking

    The ruling will help buyers make a case for paying a lower amount should their home allotment letters specify a higher forfeiture in case of cancellation of bookings

  • Pre-Rera era Supertech towers demolished, but have things changed under the new regime? Aug 29, 2022 01:32 PM IST

    Pre-Rera era Supertech towers demolished, but have things changed under the new regime?

    A homebuyer is trapped in the builder’s net the moment he pays the token amount. Thereon, he has no choice but to succumb to the builder’s wishes.

  • UP RERA issues amendments to registration certificate for agents, increases validity to 10 years Aug 26, 2022 08:15 PM IST

    UP RERA issues amendments to registration certificate for agents, increases validity to 10 years

    After the amendments, the processing fee for a single real estate agent will be Rs 1,000, and for others, the stipulated processing fee would be Rs 5,000.

  • Real estate project completion date unilaterally changed by developer not binding on home buyers, says Maharashtra Real Estate Tribunal Aug 26, 2022 07:54 PM IST

    Real estate project completion date unilaterally changed by developer not binding on home buyers, says Maharashtra Real Estate Tribunal

    Developer’s effort to wriggle out the situation saying no agreement for sale had not been entered into, did not pass muster with MREAT, which said the allotment letter contains important ingredients of such agreement for sale.

  • What is attracting young Chartered Accountants to the Real Estate Regulatory Act, 2016? Aug 20, 2022 12:47 PM IST

    What is attracting young Chartered Accountants to the Real Estate Regulatory Act, 2016?

    Compliance and arguments are two lucrative areas of work for young CAs.

  • MahaRERA order to allow developers to cut over 2% amount from buyers in booking cancellation Aug 17, 2022 09:24 PM IST

    MahaRERA order to allow developers to cut over 2% amount from buyers in booking cancellation

    Earlier, the deduction in case of cancellation of booking by home buyer was capped at 2% by MahaRERA.

  • No RERA registration required for rehabilitation part of redevelopment projects in Maharashtra: Tribunal Aug 17, 2022 03:24 PM IST

    No RERA registration required for rehabilitation part of redevelopment projects in Maharashtra: Tribunal

    There is a popular misconception that RERA registration applies to the entire project including the rehabilitation component, which is not the correct legal interpretation of the provisions of the Act, rules Maharashtra Real Estate Appellate Tribunal.

  • Booking amount can’t be forfeited if buyer cancels purchase, says Maharashtra real estate tribunal Aug 13, 2022 11:54 AM IST

    Booking amount can’t be forfeited if buyer cancels purchase, says Maharashtra real estate tribunal

    The tribunal said RERA is silent on the point of permissible deduction if an allottee cancels a booking

  • Sovereign entities’ real estate solutions are an example for DDA to follow Aug 11, 2022 02:19 PM IST

    Sovereign entities’ real estate solutions are an example for DDA to follow

    The Uttar Pradesh regulator and the investment manager of SWAMIH fund came up with successful models to resolve legacy real estate problems. Can the Delhi Development Authority take a leaf out of this book to get the capital’s land pooling moving as well?

  • Can homebuyers’ associations complete a stuck project under RERA? Aug 10, 2022 01:27 PM IST

    Can homebuyers’ associations complete a stuck project under RERA?

    This project had a net negative cash flow of between Rs 18 crore and Rs 19 crore. In this case, the developer agreed to salvage the situation by agreeing to contribute the balance. Can the model work in big projects that are stuck?

  • No DDA projects registered under RERA so far Aug 08, 2022 09:42 PM IST

    No DDA projects registered under RERA so far

    Delhi Development Authority (DDA) has applied for registration of 18 projects before the Real Estate Regulatory Authority of Delhi since 2019

  • MahaRERA directs developers to submit declaration on separate escrow account while registering real estate projects Jul 27, 2022 09:55 PM IST

    MahaRERA directs developers to submit declaration on separate escrow account while registering real estate projects

    In its new circular, MahaRERA says that separate bank accounts were not being maintained as per provisions of RERA Act.

  • Three firms allege Macrotech Developers registered project with MahaRERA based on ‘fraudulent representation’' Jul 27, 2022 09:17 PM IST

    Three firms allege Macrotech Developers registered project with MahaRERA based on ‘fraudulent representation’'

    Macrotech says it wrote to the real estate authority two weeks ago that there had been an error in its filing for the registration of the project and that it should be put on hold.

  • 'Delayed possession’: Maharashtra real estate tribunal dismisses appeal for interest as buyer waived all claims ‘consciously’ Jul 25, 2022 07:05 PM IST

    'Delayed possession’: Maharashtra real estate tribunal dismisses appeal for interest as buyer waived all claims ‘consciously’

    The tribunal also ordered the buyer to pay up Rs 20,000 as costs to the developer.

  • RERA registration of at least 21 affordable housing government projects in Maharashtra lapses Jul 22, 2022 01:01 PM IST

    RERA registration of at least 21 affordable housing government projects in Maharashtra lapses

    These housing developments are among more than 4,500 real estate projects that have lapsed in Maharashtra. However, not a single homebuyer has been affected as bookings for government projects open only after an occupation certificate is issued.

  • MahaRERA orders landowner to take over housing project as developer ‘abandons’ it Jul 21, 2022 07:45 PM IST

    MahaRERA orders landowner to take over housing project as developer ‘abandons’ it

    Hailed as a ‘landmark order, this is one among half a dozen such orders in the history of MahaRERA where allottees have been given the liberty to decide the future course of their stuck project.

  • MahaRERA will start issuing suo motu show-cause notices to over 4.5k lapsed real estate projects Jul 20, 2022 01:06 PM IST

    MahaRERA will start issuing suo motu show-cause notices to over 4.5k lapsed real estate projects

    Beginning July 25, the notices will initially be issued to those developers who have 50% bookings but there is zero work or expenditure on the project site.

  • Here's why the number of lapsed real estate projects increased by 112% in Maharashtra Jul 15, 2022 06:59 AM IST

    Here's why the number of lapsed real estate projects increased by 112% in Maharashtra

    As of March 2022, 4,555 real estate projects have lapsed in Maharashtra, of which 2,414 lapsed since January 2021.

  • Delayed home possession: Developer can't go scot-free citing financial unviability or unfavourable situation: Maharashtra Real Estate Tribunal Jul 12, 2022 06:50 AM IST

    Delayed home possession: Developer can't go scot-free citing financial unviability or unfavourable situation: Maharashtra Real Estate Tribunal

    The tribunal orders the developer to complete the project in Mumbai’s Kandivali area within 12 months, and pay interest to home buyers for delayed possession.

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