RERA

Audit under RERA – Real Estate (Regulation and Development) Act, 2016

Corporate Law - POST to the registration of Real Estate Project by Karnataka Real Estate Regulatory Authority, it has become necessary for the promoters of the registered projects to comply with the requirements of The Real Estate (Regulation and Development) Act 2016. Provision under Section 4 (2) l (D) of the Act is mandatory audit which reads as foll...

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Defect Liability Period Under RERA

Corporate Law - A Defect Liability period is a set period of time after the completion of a project and handing over the possession to the allottee, where the builder/promoter is held responsible/answerable to the allottees, for any kind of structural defects in the project and is duty bound to set right such structural defects within the given time an...

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RERA Certificates under RERD Act and Karnataka Rules

Corporate Law - Many Promoters/ Builders/ CA’s are currently having questions/ queries on what’s next! having filed application online for registration and approved by authorities. Many Promoters / builders, CA’s are calling us and enquiring the next step, process and action required to comply with provisions of RERD Act 2016 / State Rules in relat...

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Features of Real Estate (Development & Regulation) Act, 2016

Corporate Law - The post contains brief introduction of Real Estate (Development & Regulation) Act, 2016, its objects and its features throwing light on the fact that the act is applicable on not only real estate developers but also on real estate agents and buyers....

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RERA: The Remedies – Where to file your Complaint under RERA, 2016

Corporate Law - This article aims to guide person seeking justice under RERA, 2016 by consolidating various sections and rules relating to enforcement mechanism, in the state of Maharashtra....

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IBC, RERA pitted against each other; need reconciliation: ASSOCHAM

Corporate Law - The two laws enacted in 2016 may have the best of intentions, but the Insolvency and Bankruptcy Code (Code) and the Real Estate (Regulation and Development) Act appear to be pitted against each other when it comes resolving interest of bankers and home-buyers, said an ASSOCHAM- Thought Arbitrage paper. ...

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RERA – REITs, GST, rationalising of stamp duty to spur the housing sector

Corporate Law - In order to promote affordable housing, the government has made several efforts to create enabling environment and eco-system.Towards such an end, the Government has granted infrastructure status to affordable housing which will enable these projects to avail the associated benefits such as lower borrowing rates...

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PwCs report on Transactions in Real Estate Sector

Corporate Law - PwC’s comprehensive report on ‘Transactions in the real estate sector’ covers the various tax and regulatory aspects that need to be considered while entering into transactions in the real estate sector....

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Selling of open car parking space not allowed: Maha-RERA

Sanjeev Dhakar Vs. M/s. Arkade Realty (Maharera Mumbai) - The complainant, who is a resident in a completed building in the above registered project, has filed this complaint seeking directions of MahaRERA to the respondent to allow him to park his vehicle inside the compound wall of the building. The Complainant has further alleged that the Respondent is ...

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Bombay HC Upholds constitutional validity of Penal provisions under RERA

Neelkamal Realtors Suburban Pvt. Ltd. and anr. Vs. Union of India and ors. (Bombay High Court) - Provisions of RERA are prospective in nature. The penalty under Sections 18, 38, 59, 60, 61, 63 and 64 is to be levied on account of contravention of provisions of RERA, prospectively and not retrospectively. These provisions, therefore, cannot be said to be violative of Articles 14, 19(1)(g), 20(1)...

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HC allows withdrawal of Maha-RERA Office Order defining ‘Co-Promoter’

Ismail Ibrahim Patel and ors. Vs. State of Maharashtra and ors. (Bombay High Court) - The petitioner had questioned and challenged the validity of office order dated 11th May, 2017 passed by the Secretary, Maharashtra Real Estate Regulatory Authority (hereinafter referred to as Maha­ RERA for short). In the impugned order the Maha­ RERA observed that since the term ‘Co­ prom...

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Customs is the King: Maharera, Mumbai’s Landmark Judgement (on Refund of Amount with in Interest for Delayed Possession)

Avinash Saraf, Neha Duggar Saraf Vs Runwal Homes Pvt. Ltd. (Maharashtra Real Estate Regulatory Authority, Mumbai) - In, Avinash Saraf versus Runwal Homes Private Limited case, the landmark judgement given by MAHARERA, Mumbai, having complaint number 32, Dated 13th October 2017. Final judgement is given by Honorable Shri B. D.KAPADNIS....

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Standard Operating Procedure (SOP) for handling MahaRERA complaints

MahaRERA Circular No: 18/2018 - (17/07/2018) - MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY No. MahaRERA/Secy./File No.27/692 /2018 Date: 17th July, 2018 MahaRERA Circular No: 18/2018 Subject: Standard Operating Procedure (SOP) for handling complaints Whereas Maharashtra Real Estate Regulatory Authority (MahaRERA) had issued Circular No: 09/2017...

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MahaRERA Conciliation & Dispute Resolution Forum

No. MahaRERA/Secy/File No. 27/ 95 /2018 - (29/01/2018) - Whereas the Chairperson, MahaRERA is vested with the powers of general superintendence and directions in the conduct of affairs of the authority under section 25 of the Real Estate (Regulation and Development) Act, 2016 (RERA)....

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MahaRERA: Co- Promoter is known as Promoter (Land owner/ Investor)

MahaRERA Circular No: 13/2017 - (04/12/2017) - Whereas, for the case of filing online registration application and for the benefit of consumer it was necessary to distinguish and/or identity whether such Promoter is the land owner, investor OR is the one who has actually obtained/ obtaining the building permissions for carrying out the construct...

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MahaRera: Land Owners/ Investors having Area/ Revenue Share in Real Estate Project to be treated as Promoter (landowner/ investor)

MahaRERA Circular No: 12/2017 - (04/12/2017) - (1) Such individuals/ organizations who fall within the aforesaid definition of the term 'Promoter' on account of being landowners or investors, shall be specified as such, at the time of online registration with MahaRERA....

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MahaRERA: Amends SOP to Update, Revise & Correct Information related to Registered Project & Agents

Circular No.:- 14/2017 - (01/11/2017) - The above referred circular details the process for updating project details and revising/ correcting information with respect to registered projects & Agents. The circular also provides details of fields, in Annexure A and B, which are editable by the promoters themselves and those that can be requ...

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Recent Posts in "RERA"

Audit under RERA – Real Estate (Regulation and Development) Act, 2016

POST to the registration of Real Estate Project by Karnataka Real Estate Regulatory Authority, it has become necessary for the promoters of the registered projects to comply with the requirements of The Real Estate (Regulation and Development) Act 2016. Provision under Section 4 (2) l (D) of the Act is mandatory audit which reads as foll...

Read More
Posted Under: Corporate Law |

Defect Liability Period Under RERA

A Defect Liability period is a set period of time after the completion of a project and handing over the possession to the allottee, where the builder/promoter is held responsible/answerable to the allottees, for any kind of structural defects in the project and is duty bound to set right such structural defects within the given time an...

Read More
Posted Under: Corporate Law |

RERA Certificates under RERD Act and Karnataka Rules

Many Promoters/ Builders/ CA’s are currently having questions/ queries on what’s next! having filed application online for registration and approved by authorities. Many Promoters / builders, CA’s are calling us and enquiring the next step, process and action required to comply with provisions of RERD Act 2016 / State Rules in relat...

Read More
Posted Under: Corporate Law |

Features of Real Estate (Development & Regulation) Act, 2016

The post contains brief introduction of Real Estate (Development & Regulation) Act, 2016, its objects and its features throwing light on the fact that the act is applicable on not only real estate developers but also on real estate agents and buyers....

Read More
Posted Under: Corporate Law |

RERA: The Remedies – Where to file your Complaint under RERA, 2016

This article aims to guide person seeking justice under RERA, 2016 by consolidating various sections and rules relating to enforcement mechanism, in the state of Maharashtra....

Read More
Posted Under: Corporate Law |

Standard Operating Procedure (SOP) for handling MahaRERA complaints

MahaRERA Circular No: 18/2018 (17/07/2018)

MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY No. MahaRERA/Secy./File No.27/692 /2018 Date: 17th July, 2018 MahaRERA Circular No: 18/2018 Subject: Standard Operating Procedure (SOP) for handling complaints Whereas Maharashtra Real Estate Regulatory Authority (MahaRERA) had issued Circular No: 09/2017 dated 24th July 2017, laying down SOP f...

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UP RERA Compliances – Quarterly / Annually

Real Estate (Regulation and Development) Act, 2016 and The Uttar Pradesh RERA Rules, 2016  UP RERA- Compliances- Quarterly Updates (Chapter III, Sec-11 (1), Rule-14(1)), (Chapter IV, Rule-14(1)(d) UPLOAD the following updates on Webpage for the project < 7 days (available only for 15 days) after each Quarter ending; (a) Details of re...

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Posted Under: Corporate Law |

Affordable Housing For for Homeless through Free FSI

R. Narasimhan, K.R.Prakash & S Sriram Affordable “Housing For All In India” Through Distribution of Free Floor space Index (FSI) for Homeless, Houseless, Marginal, Rent Paying Households (Construction of 60 million houses of 120 Sq.mtrs priced at 20,000 US Dollars Each for next 5 to 10 years) Rational Behind Distribution Of Free F...

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Posted Under: Corporate Law |

Difficulty in Issue of CA Certificate Under UP RERA

DIFFICULTY IN ISSUE OF CA CERTIFICATE UNDER UP RERA [for the purpose of withdrawal of money from designated bank account of the project] As per the provision of The Real Estate (Regulation and Development) Act 2016 (RERA), As per section 4(2)(l)(D) of RERA Act;  ‘seventy per cent. of the amounts realised for the real estate […]...

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Posted Under: Corporate Law |

UP Real Estate (Regulation and Development) Act 2016 (RERA) Compliances

RERA- Overview (Dates) Applicability - Whole of India except state of J & K RERA Bill- introduced in Raja Sabha in 2013 Raj Sabha Select committee-submitted its report in July 2015 Rajya Sabha- Passed on 10.03.2016 Lok Sabha- Passed on 15.03.2016 Hon’ble President- assented on 25.03.2016 [ ACT 16 of 2016]...

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Posted Under: Corporate Law |

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