RERA

UP RERA Compliances – Quarterly / Annually

Corporate Law - 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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Affordable Housing For for Homeless through Free FSI

Corporate Law - 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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Difficulty in Issue of CA Certificate Under UP RERA

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

Corporate Law - 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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RERA turned to One! – Many reasons to celebrate

Corporate Law - The Real Estate (Regulation and Development) Act, 2016, or RERA, turned a year old. The Real Estate (Regulation and Development) Act, that seeks to safeguard home buyers, was passed by Rajya Sabha on March 10, 2016 and by Lok Sabha on March 15, 2016. On May 01, 2017...

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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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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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PMLA 2002: Real estate agents shall be deemed to be a person carrying on designated business or profession

Notification No. 8/2017 - (15/11/2017) - In exercise of the powers conferred by sub-clause (iii) of clause (sa) of sub-section (1) of section 2 of the Prevention of Money-laundering Act, 2002 (15 of 2003), the Central Government hereby notifies that real estate agents as defined...

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Recent Posts in "RERA"

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...

Read More
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...

Read More
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 […]...

Read More
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]...

Read More
Posted Under: Corporate Law |

RERA turned to One! – Many reasons to celebrate

The Real Estate (Regulation and Development) Act, 2016, or RERA, turned a year old. The Real Estate (Regulation and Development) Act, that seeks to safeguard home buyers, was passed by Rajya Sabha on March 10, 2016 and by Lok Sabha on March 15, 2016. On May 01, 2017...

Read More
Posted Under: Corporate Law |

Guide for Registration of Real Estate Projects with RERA

Article explains 1. Registration of Real Estate Projects with Real Estate Regulatory Authority (RERA) 2. Definition of Real Estate Project under RERA 3. Application for registration of real estate projects (In Form- A in triplicate) 4. Registration Fee for registration of Project under RERA 5. Grant of Registration under RERA (In Form-C)...

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Posted Under: Corporate Law |

Your Complete Guide to Live The Mumbai Dream

Situated in the northeast quadrant of Mumbai, Mulund is a picturesque and calm habitat. Today, Mulund is considered one of Mumbai’s most sought-after places for settling down. Mulund is among the well-settled places in the city. There are a plethora of reasons making Mulund your ultimate destination when looking for your next home. ...

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Posted Under: Corporate Law |

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

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. ...

Read More
Posted Under: Corporate Law |

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 selling open car parking by collecting i...

Read More
Posted Under: Corporate Law | |

RERA Non-Compliancy Not a Trifling Matter

Much has been said about the all-encompassing Real Estate Regulatory Act (RERA) which is bringing about a decisive change for the long-term success of sellers and buyers alike. The Act is indeed touted to be the Government’s trump card to oust corruption and malpractices from the real estate sector. However, though it was a move worth a...

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Posted Under: Corporate Law |
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