meraRERA
On August 13, Unitech had informed the Supreme Court that it was not in a position to refund money to homebuyers in its Noida and Gurgaon projects in which possession had been delayed. “We don’t have the money. If we
The Real Estate Regulatory Act will push demand for housing and prevent project delays for increased home buyer confidence. However, since projects cannot be launched without prior approvals, the resultant delay is likely to push up housing prices, say developers.
Most developers divert funds collected from homebuyers from one project to another as there is no clarity in laws to penalise them. Only RERA provides for stringent punishment and ‘equity’ when it comes to penalty ABHAY UPADHYAY, national convenor, #FightforRERA
They are tweaking builder-buyer agreements to follow RERA norms and getting marketing communication right to regain buyers’ trust The real Estate Regulatory Act (RERA) cleared by the Cabinet this year seeks to bring in much-needed transparency in real estate transactions
Around 40% of buyers/builders felt that implementation of RERA would help in timely delivery of projects since 70% of the sales proceeds will be set aside in an escrow account by developers and also eliminate non-serious players from the sector,
Purchasing or selling a residential or commercial property is one of the most tedious tasks in India. Buyers are often victim of delayed possession, changed layout plans, unexpected payments and low quality products used. Finding a credible developer has become
The Supreme Court (SC) this week directed Unitech to deposit Rs 15 crore by September to pay home buyers invested in its Gurgaon residential project since 2009. The company was ordered to deposit Rs 5 crore in the court’s registry
Section 4(5) of the UP Apartment (Promotion of Construction, Ownership and Maintenance) Act 2010 requires a builder to get a completion certificates from the state’s housing authority within two years from the date of a sale agreement it (builder) has
Homebuyers who have invested in delayed projects have demanded that these be included in the ambit of the draft rules of the Real Estate (Regulation and Development) Act, 2016. They have suggested to the government that developers disclose before the
The central government has signified on the fact the RERA bill does not intends to choke anybody’s work. After formulating a compact and affective real estate authority, the government is now looking to join loose ends so that buyers don’t