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Homebuyers' association FPCE has questioned Maharashtra real estate regulator MahaRERA's decision to constitute and be part of a conciliation forum to settle dispute between builders and customers, saying the law does not give such power and the move can lead to possible conflict of interest. Forum for People's Collective Efforts' (FPCE) President Abhay Upadhyay has written a letter on August 19 to Union Ministry of Housing and Urban Affairs Additional Secretary Satinder Pal Singh objecting to the conciliation forum constituted by MahaRERA and its "suspicious functioning". The association has asked the ministry to investigate the constitution of this forum, its functioning and also orders passed, to ascertain whether the forum is favouring builders. "Maharashtra Real Estate Regulatory Authority (MahaRERA) has constituted Conciliation Forum for amicable settlement of dispute between promoter of real estate projects and allottee under Section 32 of Real Estate (Regulation and ...
Developers in Maharashtra may soon have to mention the finer details of amenities at housing projects and a deadline by when they will be available for use to buyers, the state's real estate regulator said on Monday. MahaRERA, the real estate watchdog, has proposed the norms to put an end to the uncertainty of guaranteed facilities and amenities in housing projects, according to a statement. Residents may be "enticed" by the vision of a swimming pool, gym, or a community centre, but the agreement often remains silent on when these facilities and amenities will become available or what their specifications might be, the statement said. The lack of clarity can lead to unfulfilled expectations and potential disputes in future, it said. At present, the 'Schedule Two' of the Model Agreement for Sale only mentions the facilities and amenities but does not provide for any details with regards to their features and delivery date, the regulator said. "The proposed order now makes it mandat
Housing and Urban Affairs Minister Hardeep Singh Puri on Friday said a highly matured and developed real estate sector with an estimated market size of USD 1 trillion by 2030 is needed to achieve the vision of a developed India by 2047. Addressing an event organised by realtors' body CREDAI's youth wing, the minister said the enactment of real estate regulatory law 'RERA" has been a transformational development for the entire sector. "A developed India by 2047 will also require a highly matured and developed real estate sector, both in the residential and the commercial segment," Puri said. He highlighted that investments are coming into commercial real estate including data centres and warehousing. The establishment of Real Estate Investment Trusts (REITs) has also helped in attracting investments into the real estate sector, the minister added. "RERA was a transformational development. It is unbelievable that one of the largest sectors in the economy didn't have a regulator for
The GST Council is likely to soon clarify that Real Estate Regulatory Authority (RERA) will not be required to pay Goods and Services Tax (GST), an official said. According to the official, RERA, which functions as a regulator as well as facilitator for the realty sector, is covered under Article 243G of the Constitution dealing with powers, authority and responsibilities of panchayats. RERA was set up in different states to ensure transparency in real estate projects, protect the interest of consumers and to establish an adjudicating mechanism for speedy dispute redressal. The official said that after discussions with RERA functionaries about the nature of their function it was decided that GST is not applicable on them. The official further said that RERAs are funded by respective state governments and hence levying GST would mean taxing state governments. A meeting of GST Council, chaired by Union Finance Minister and comprising state ministers, is likely to be held before the
Real Estate Regulatory Authority (RERA), Gurugram, has imposed a penalty of Rs 25 lakh on Yashvi Homes Pvt Ltd for publishing a misleading advertisement on a Deen Dayal Jan Awas Yojana (DDJAY) project. Yashvi Homes is developing the DDJAY residential project -- Golden gate Residency -- at Sector 3, Farukhnagar, Gurugram. The policy is known as DDJAY 2016 while the advertisement mentioned it as DDJAY 2024, which is incorrect and misleading, RERA said in a statement. Further, the promoter did not mention the details of the registration number of the project and the website of RERA, which is required under the regulations, it said. "While there is no provision for amenities like school, club house, swimming pool, badminton court, half basketball court, etc, in the approved layout plan submitted by the promoter at the time of registration, the same has been mentioned in the advertisement," said a RERA spokesperson said. Under the provisions of Section 13(1) of the Act 2016, no promote
The Delhi Real Estate Regulatory Authority withdrew its September order directing sub registrars not to register properties in violation of building bylaws, hours after its top brass met Lt Governor V K Saxena on Tuesday, officials said. Earlier in the day, Saxena met the chairman and members of Delhi RERA along with the chief secretary and divisional commissioner at Raj Niwas over the issue. "The LG impressed upon and requested the RERA to revisit its order in view of the hardship it is causing to common people in Delhi," said a Raj Niwas official. A fresh order issued by Delhi RERA secretary stated, Considering the various facts on record, the Authority has decided to withdraw its order dated 11.09.2023 with immediate effect." During the meeting with RERA chairman and members, the LG brought to their notice the "acute problems and harassment" being faced by the residents of Delhi in a wide ranging discussion regarding the "repercussion of its order", the Raj Niwas official said.
The Uttar Pradesh RERA on Monday directed promoters of real estate projects to provide name, designation, mobile number, e-mail ID, residential address, office address etc. of their person authorized for correspondence, officials said. This has been done to ensure uninterrupted correspondence with promoters, the UP Real Estate Regulatory Authority (RERA) said, noting that contact numbers of some promoters given at the time of project registration are found inaccessible. "We have come to know through various means that the mobile numbers provided by some promoters at the time of project registration are non-functional/not in use and are switched off. "Some cases were also received in which either no one picks up the mobile number provided or a suitable response is not received during the conversation," UP RERA said. To address this issue, UP RERA has issued new guidelines to promoters to ensure uninterrupted communication with their stakeholders, especially buyers. The promoter mus
At least 86 per cent of the total 1,642 housing projects launched between July 2017 and December 2018, across seven major cities have been completed so far, helped by tighter regulations under realty law RERA, according to real estate consultant Anarock. These 1,642 housing projects are registered under the real estate regulatory law -- RERA. However, in terms of number of residential units, the developers have completed only 71 per cent of the residential properties that they launched across seven cities during these 1.5 years. These cities are Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Chennai, Hyderabad and Kolkata. "When it comes to ensuring timely delivery of residential real estate projects, RERA has delivered resoundingly, wherever it has been fully deployed," real estate consultant Anarock Chairman Anuj Puri said. "The overall completion rate of 86 per cent across the top seven cities in the 1.5 years following RERA implementation is remarkable, especiall