Union Housing and Urban Poverty Alleviation Minister Venkaiah Naidu on Tuesday urged the states and union territories to and implement the Real Estate (Regulation & Development) Act from May this year, as proposed in the legislation, an official statement said. He made the request at a meeting of Chief Secretaries ... Read More »
NEW DELHI: Coming down heavily on the states that have diluted the real estate regulatory Act, Union minister M Venkaiah Naidu on Tuesday said states have no power to dilute the provisions and this will have serious implications including public outcry. The minister of Housing and Urban Poverty Alleviation (HUPA) ... Read More »
Mumbai Grahak Panchyat (MGP), the consumer rights group, has raised 52 objections to draft rules framed by Maharashtra government under central government’s Real Estate (Regulation and Development) Act and criticised them as anti-consumers and builder friendly. Though the Act is passed by the Parliament, the Act allows states to frame ... Read More »
MUMBAI: A builder can terminate a flat purchase agreement by giving just a week’s notice on email to the buyer who defaults on an installment. But the developer can refund the money without interest to the purchaser at leisure, within six months. This is one among several controversial clauses in ... Read More »
MUMBAI: The Maharashtra government has notified draft rules for the regulator to be set up under the Real Estate Regulatory Act (RERA). Among the key proposals aimed at helping homebuyers, there’s much-needed clarity on transfer of project’s land in favour of association entity of homebuyers. Introduction of dividable and non-dividable ... Read More »
MUMBAI: Draft rules of the new Real Estate (Regulation & Development) Act, 2016, (RERA), notified by the Maharashtra government on Thursday have been diluted to favour errant builders, property experts and housing activists said. They claimed that they lacked transparency and flat buyers will continue to remain in the dark ... Read More »
While the Union government was forced to strengthen its rules issued under the Real Estate (Regulation and Development) Act, 2016 (RERA) following much pressure from citizen groups, the dilution of the rules to give leeway to builders has started at the level of various states. So far, the state governments ... Read More »
NEW DELHI, OCTOBER 31: The Ministry of Housing and Urban Poverty Alleviation has notified the Real Estate (Regulation and Development) (General) Rules, 2016, for the five Union Territories without Legislature — Andaman & Nicobar Islands, Dadra & Nagar Haveli, Daman & Diu, Lakshadweep and Chandigarh, an official statement said on ... Read More »
It is premature to imagine that the real estate regulator which comes into existence, as and when the Real Estate (Regulation and Development) Act is notified, will act as a panacea for all the ills of the realty sector in India. There is no reason why doubts shouldn’t rise on the ... Read More »
In yet another ruling upholding the rights of homebuyers, the Supreme Court directed real estate company Supertech to refund money to those who wanted to opt out of one of its projects in Noida, Uttar Pradesh. Using strong language, the apex court told the builder that it wasn’t concerned if ... Read More »
Bengaluru: Builders across cities are rushing to complete the projects they promised as courts and customers hold them to their words ahead of tighter real estate regulation. The result: A large number of projects that were stuck are now set to be completed and delivered during the current financial year, ... Read More »
This month, the Benami Transactions (Prohibition) Amendment Act, 2016 was notified. It intends to route unaccounted money into the financial system, and seize benami properties while prosecuting those involved with such properties. Its objective are: amending the definition of benami transactions, establishing adjudicating authorities and setting up an appellate tribunal ... Read More »
