RERA

Rera on Lease Agreements

Corporate Law - The Bombay High Court while deciding the case of Lavasa Corporation that is developed under the township project in the Pune stated that RERA needs to apply for the cases based on the long-term agreements. The court has held that RERA applies to the said case wherein the citizens are seeking compensation due to the […]...

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No Execution of RERA Order is No Relief To Home buyer

Corporate Law - Till now RERA has been set up in many states of the country. Maharashtra RERA (MahaRERA) leading amonst all, has disposed of the largest number of complaints and issued orders against the developers / builders for non-compliance of the law. MP-RERA, HARYANA RERA (HARERA) and the authority in other states is also leaving no stones [&hellip...

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India – Pre and Post RERA

Corporate Law - The Real Estate (Regulation and Development), Act 2016 has been quite effective so far. The Authority has been taking strict actions against builders for non-compliance and violation of law. Pre-RERA, the promoters / builders resorted to unfair trade practices including delay in handing over possession by not delivering the possession on ...

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Registration of Project Under Uttar Pradeash Rera Authority

Corporate Law - BACKGROUND: The REAL ESTATE PROJECT IS REQUIRED TO BE REGISTERED UNDER UTTAR PRADESH REAL ESTATE (R & D) RULES, 2016. TO UNDERSTAND THESE RULES ONE SHOULD HAVE BASIC UNDERSTANDING OF TWO IMPORTANT TERMS “ONGOING PROJECT” AND “PROJECT LAND”. “ONGOING PROJECT” [Under Rule 2(1)(h) of the UTTAR PRADESH REAL ESTATE (R & D) ...

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Unique features of RERA

Corporate Law - One of the most globally recognized sector i.e. the real estate sector ranks 3rd among the 14 major sectors in the country in terms of direct, indirect and induced effects in all sectors of the economy. The Real estate sector is an important pillar of the economy fulfilling the demand for infrastructure in the country. […]...

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RERA is bringing positive transformative changes in the industry

Corporate Law - As we are in the 2nd year of the implementation of RERA, I am happy to note all the States/UTs have notified Rules under RERA except for 6 North Eastern States and the state of West Bengal...

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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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Multiple proceedings on same issue not permissible under RERA 2016

Mr. Jatin Mavani Vs M/s. Rare Township Pvt. Ltd (RERA) - Since the complainant is also a party to the said proceeding , he can not separately agitate this complaint before the MahaRERA, as it will amount to agitate multiple proceedings on the same issue, which is not permissible in RERA Act, 2016. In the present case since the MahaRERA has already given j...

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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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MahaRERA: Procedure for transferring or assigning promoter’s rights and liabilities to a third party

Circular No:  24/2019  - (04/06/2019) - Whereas, in accordance with Section 15 of the Real Estate (Regulation and Development) Act, 2016, the promoter shall not transfer or assign his majority rights and liabilities in respect of a real estate project to a third party without obtaining prior written consent from two-third allottees, excep...

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Procedure for revocation of project registration under MahaRera

MahaRERA Order No: 8119 - (28/03/2019) - Therefore, it is felt necessary to issue necessary direction which shall be followed for revocation of project registration and thereafter- MahaRERA shall only consider those complaints for revocation of project, when Association of Allottees is involved....

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MAHARERA: Approval of Association of Allottees for order U/s. 7(3)

Order No: 07/2019 - (08/02/2019) - In cases, where the promoter of a MahaRERA registered project is unable to complete the project in the extended time of one year, granted under Section 6, further extension may be given only in those cases where the concerned association of allottees resolve that instead of revoking the registration...

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Procedure for referring complaints to MahaRERA Conciliation and Dispute Resolution Forum by MahaRERA or Adjudicating Officer of MahaRERA.

No. MahaRERA/Secy./Order- 6/1126/2018 - (29/11/2018) - When a complaint is being heard by MahaRERA or an Adjudicating Officer of MahaRERA and the said authority is satisfied that there is a possibility of settlement by way of conciliation, then with the consent of both the parties involved, it may refer the complaint to a designated bench of the Maharas...

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MAHARERA: SOP for handling complaint on Non-Registered Projects

Circular No. 23/2018 - (26/11/2018) - SOP for handling complaints against registered projects and for source information of projects, which ought to have been registered but have not registered....

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Recent Posts in "RERA"

Rera on Lease Agreements

The Bombay High Court while deciding the case of Lavasa Corporation that is developed under the township project in the Pune stated that RERA needs to apply for the cases based on the long-term agreements. The court has held that RERA applies to the said case wherein the citizens are seeking compensation due to the […]...

Read More
Posted Under: Corporate Law |

No Execution of RERA Order is No Relief To Home buyer

Till now RERA has been set up in many states of the country. Maharashtra RERA (MahaRERA) leading amonst all, has disposed of the largest number of complaints and issued orders against the developers / builders for non-compliance of the law. MP-RERA, HARYANA RERA (HARERA) and the authority in other states is also leaving no stones [&hellip...

Read More
Posted Under: Corporate Law |

India – Pre and Post RERA

The Real Estate (Regulation and Development), Act 2016 has been quite effective so far. The Authority has been taking strict actions against builders for non-compliance and violation of law. Pre-RERA, the promoters / builders resorted to unfair trade practices including delay in handing over possession by not delivering the possession on ...

Read More
Posted Under: Corporate Law |

Registration of Project Under Uttar Pradeash Rera Authority

BACKGROUND: The REAL ESTATE PROJECT IS REQUIRED TO BE REGISTERED UNDER UTTAR PRADESH REAL ESTATE (R & D) RULES, 2016. TO UNDERSTAND THESE RULES ONE SHOULD HAVE BASIC UNDERSTANDING OF TWO IMPORTANT TERMS “ONGOING PROJECT” AND “PROJECT LAND”. “ONGOING PROJECT” [Under Rule 2(1)(h) of the UTTAR PRADESH REAL ESTATE (R & D) ...

Read More
Posted Under: Corporate Law |

Unique features of RERA

One of the most globally recognized sector i.e. the real estate sector ranks 3rd among the 14 major sectors in the country in terms of direct, indirect and induced effects in all sectors of the economy. The Real estate sector is an important pillar of the economy fulfilling the demand for infrastructure in the country. […]...

Read More
Posted Under: Corporate Law |

Registration of Real Estate Agent as Per Uttar Pradesh Rera Rules

IF YOU ARE REAL ESTAE AGENT IN UTTAR PREDESH THEN YOU NEED TO KNOW ABOUT REGISTRATION UNDER UP RERA AUTHORITY APPLICATION TO AUTHORITY AND DOCUMENT REQUIREMENT Every real estate agent required to register as per sub-section (2) of section 9 of the UTTAR PRADESH REAL ESTATE (R & D) Rules, 2016 (the “Act1”) shall make […]...

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Posted Under: Corporate Law |

How To Choose Your Builder

Witnessing the real estate sector today, choosing a builder can be a very big and important task as your lifetime savings might be on stake, therefore, you are required to be a little more conscious and all that is needed is some good amount of research that will land you just in your dream home. […]...

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Posted Under: Corporate Law |

Current Real Estate Scenario In India

The Indian Real Estate is now experiencing rising transparency and discipline in property dealings . In 2013-18, residential property price appreciation in India bottomed out to a mere 12 percent – which effectively worked out to a little over 2 percent annually, even for properties at prime locations. In the unorganised real estate, th...

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Posted Under: Corporate Law |

Causes of Litigation under RERA

One of the main causes of litigation against the builders in RERA is the delay in giving possession to the buyers. In that case, the buyers have only one way out i.e. taking appropriate legal recourse against the builder. Now that there is a separate authority for regulation of the Real Estate sector, the buyers […]...

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Posted Under: Corporate Law |

Practical FAQ’s on Real Estate (Regulation and Development) Act, 2016

Q.1 What is The Real Estate (Regulation and Development) Act, 2016? Ans. The Real Estate (Regulation and Development) Act, 2016 is an initiative by Indian Government to enhance transparency in the real estate related transactions by creating a systematic and a uniform regulatory environment, thereby protecting consumers’ interest and m...

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Posted Under: Corporate Law |

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