2 RERA

RERA

RERA: Cancellation of Sale Agreements when Allottees don’t pay on time

Corporate Law - The Karnataka Real Estate Regulatory Authority (‘KRERA’ in short) IN Complaint No. CMP/201230/0007353, has passed an Order dated 02.01.2023 cancelling the Agreement for Sale entered into between the Complainant- Promoter and the Respondent allottee which had been duly registered before the jurisdictional Sub-Registrar. The KRERA furth...

Details of Karnataka RERA (General) Regulations, 2022

Corporate Law - Details of Karnataka Real Estate Regulatory Authority (General) Regulations, 2022 The real estate industry is governed by multiple laws viz., central, state and local / municipal laws. In spite of having many laws, the government realized that the real estate sector needs a comprehensive regulation and development to have orderly growth a...

Banks / financial institutions cannot proceed against homebuyers for repayment of loan if Developer has defaulted.

Corporate Law - PNBHFL argues that clause (k) of the agreement states that the borrower cannot cancel the agreement without obtaining No Objection Certificate from the PNBHFL....

One Nation One Housing Policy Prepared and Documented For Indian Sub-Continent

Corporate Law - One Nation One Housing Policy Prepared and Documented For Indian Sub-Continent In Line With Sustainable Development Goal 2030, Vision 11 Of Total Vision 17 As Per United Nations We, the Authors wish to state that we have been championing for the cause of eradicating shelter lessness from 2018 onwards. This is our tenth article in [&hell...

Land Owner – Promoter under RERA Act 2016

Corporate Law - The real estate sector plays an important role in fulfilling the need and demand for housing and infrastructure in the country. Real estate Industry contributes the 2nd highest GDP to the country next to agriculture. One of the highest tax contributors to the nation. It employs a large number of skilled, unskilled resources. While this [&...

View More RERA Articles

Homebuyers Benefited from RERA but a long way to go

Corporate Law - The Real Estate Regulation & Development Act, 2016 (RERA) was passed in the Parliament in March 2016 & it came into effect from 1st May 2016. In May 2022, RERA completed 6 Years. RERA law, various decisions of Hon. Supreme Court and other judicial forums like NCDRC, NCLT has substantially empowered the India’s Homebuyers. Modi [...

RERA orders 17 Builders to Refund 50 Crores to Home Buyers

Corporate Law - Haryana Real Estate Regulatory Authority (HRERA) have ordered 17 Builders, to refund Rs. 50 Crores to the homebuyers of various construction projects for non-delivering the projects well on time. HRERA has issued multiple orders for 17 Builders directing them to refund the home buyers their hard-earned money along with 9.70% Interest with...

RERA cancelled registration of 3 Projects

Corporate Law - RERA registration of 3 real estate projects have been cancelled by Uttar Pradesh Real Estate Regulatory Authority (UP-RERA). As per the officials’ statements, the promoters of Raksha Vigyan Sanskriti Phase-2, Antriksh Sanskriti Phase-2 and Antriksh Sanskriti Phase-3 have violated provision of the RERA law. These builders have not follow...

Arrest Warrant by RERA against Ansal directors for not refunding to homebuyer

Corporate Law - Arrest Warrant by RERA against Ansal directors for not refunding to homebuyer Real Estate Regulatory Authority (RERA) has ordered for the issuance of Arrest Warrant against the directors of Ansal Housing Limited for noncompliance of an earlier order to refund to Homebuyers. RERA has ordered Ansal Housing Director’s to pay Rs. 5 Crores a...

Sunny Leone Purchased a Flat in Mumbai for Rs 16 Crore

Corporate Law - Bollywood actress Sunny Leone has recently purchased a flat in Andheri, Mumbai for Rs 16 crore. Flat is measuring 4,365 Sq. Ft. Stamp Duty of Rs 48 Lakh was paid. The apartment is on 12th Floor in an under-construction project named ‘Atlantis’ being developed by a realtor named Crystal Pride Developers. The flat has three ...

View More RERA News

RERA Prevails over SARFAESI & can entertain complaints by home buyers against bank: SC

Union Bank of India Vs Rajasthan Real Estate Regulatory Authority (Supreme Court of India) - Union Bank of India Vs Rajasthan Real Estate Regulatory Authority (Supreme Court of India) The Supreme Court upheld Rajasthan High Court judgment and held that RERA would not apply in relation to the transaction between the borrower and the banks and financial institutions in cases where security ...

Karnataka RERA has no Authority Over Projects Granted ‘Partial’ Occupancy Certificate Prior to Enforcement of RERA

Provident Housing Limited Vs Karnataka Real Estate Regulatory Authority (Karnataka High Court) - Provident Housing Limited Vs Karnataka Real Estate Regulatory Authority (Karnataka High Court) Brief Facts of the Case: The petitioner is engaged in the business of real estate development. On receiving respondent’s request to allot an apartment in the project, the petitioner entered into an agree...

Banks cannot Initiate recovery For Non-Payment of EMI Due to Default of Builder/Developer

Mudit Saxena Vs Union of India (Karnataka High Court) - Mudit Saxena Vs Union of India (Karnataka High Court) Banks Can Not Initiate Recovery of Loan From Homebuyers For Non-Payment of EMI Due to Default on the part of the Builder/Developer (Karnataka High Court): RERA In a significant order, Karnataka High Court prohibits Punjab National Bank Housing Fi...

RERA – Transfer of common areas should be effected in favour of an Association of Apartment Owners: HC

Bimalendu Pradhan Vs State of Odisha & Others (Orissa High Court) - High COurt held that Registering Authority is bound to refuse to register an instrument for transfer of immovable property the ‘alienation or transfer of which is prohibited at any State and Central Act’. With the RERA Act mandating that the transfer of common areas should only be effected in fa...

RERA disputes arbitrable: Delhi HC

Priyanka Taksh Sood Vs Sunworld Residency Pvt. Ltd (Delhi High Court) - The Arbitration & Conciliation Act, 1996 is in addition to other remedies available and not in derogation to The Real Estate (Regulation and Development) Act, 2016....

View More RERA Judiciary

MahaRERA: Introduction of real estate agent training and certification

Order No. 41 /2023 - (10/01/2023) - With effect from 01.05.2023, only those real estate agents who have a valid MahaRERA Real Estate Agent Certificate of Competency can apply for MahaRERA real estate agent registration / renewal of registration....

MahaRERA: Additional conditions for extension of project

Order No. 40/2022 - (27/12/2022) - Extension of validity of project registration under MAHARERA would be granted, on promoters complying with the directions issued under Order No. 7 of 2019 dated 08.02.2019....

MahaRERA: Disclosure of Interest in other real estate organizations

Order No. 39/2022 - (27/12/2022) - Under MhaRERA While applying for registration of a real estate project, promoters shall upload a Self-Declaration disclosing Interest in other real estate organizations...

MahaRERA: Clarification of Commencement & Occupation Certificate for plotted development

Order No. 37/2022 - (13/12/2022) - Grant of non-agricultural permission along with sanad issued in the form in Schedule IV or Schedule V in accordance with Rule 4 and Rule 7 of the Maharashtra Land Revenue (Conversion of Use of Land and Non-Agricultural Assessment) Rules, 1969 (the Rules) by the concerned Competent Authority shall be...

MahaRERA: Real estate project registration, extension and correction

Circular No. 42/2022 - (13/12/2022) - MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY Circular No. 42/2022 No. MahaRERA/Secy/File No.27 /742/2022 Date: 13/12/2022 Sub: In the matter of real estate project registration, extension and correction. Whereas, Government of India has enacted the Real Estate (Regulation and Development) Act, 2016...

View More RERA Notifications