RERA

An Overview with respect to Real Estate (Regulation & Development) Act, 2016 (Rajasthan)

Corporate Law - Government of India has enacted the Real Estate (Regulation and Development) Act 2016 and all the provisions of the Act have came into force with effect from May 1, 2017. Under this Act, Government of Rajasthan has notified the Rules namely Rajasthan Real Estate (Regulation and Development) Rules, 2017. The State Government, vide its Orde...

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Finally Rajasthan got Permanent Regulatory body to Regulate Real Estate Sector

Corporate Law - The Real Estate (Regulation & Development) Act, 2016 has come into force on 1st May, 2016 and as per the provisions of the Act, the state government has to form the rules and incorporate the regulatory authority within 1 year from the enforcement of the same so as to regulate the real estate sector in […]...

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RERA – Annual Schedule of Rates (ASR) under RERA

Corporate Law - Annual Schedule of Rates – ASR Value (as mentioned in CA Certificates for updates under RERA in Form 4 (especially while issuing certificate for ongoing project) ASR is a government tool to find out the minimum value of a property at different locations based on various market factors. In Delhi, it is called Circle Rate whereas; [&hell...

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Role of CAs, Engineers, Architects under RERA

Corporate Law - CA’s, Engineer, Architects Professionals play a prominent role under RERA. All promoters shall obtain from these 3 professional’s certificates from time to time to withdraw the money from the project Bank Account based on % of development of the project....

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RERA Rajasthan: Documents for Project Registration

Corporate Law - As per section 3 of the Real Estate (Regulation and Development) Act 2016 no promoter shall advertise, market, book, sell or offer for sale, or invite persons to purchase in any manner any plot, apartment or building in any real estate project or part of it, in any planning area, without registering the real estate […]...

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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: 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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MAHARERA Circular: SOP for handling information on Non-Registered Projects

Circular No. 22/2018 - (26/11/2018) - Whereas based on inputs received from various stakeholders, it has been decided to simplify the procedure for Non-Registered Projects and provide an option for hearing with authority for the information provider to present his / her case....

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MAHARERA: Disclosure of Information regarding Project Professionals

Circular No. 21/2018 - (26/11/2018) - Under MAHARERA with objective of increasing transparency, accountability and ease in accessibility of information, it is proposed to capture the following details of the project professionals for each project:...

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Recent Posts in "RERA"

An Overview with respect to Real Estate (Regulation & Development) Act, 2016 (Rajasthan)

Government of India has enacted the Real Estate (Regulation and Development) Act 2016 and all the provisions of the Act have came into force with effect from May 1, 2017. Under this Act, Government of Rajasthan has notified the Rules namely Rajasthan Real Estate (Regulation and Development) Rules, 2017. The State Government, vide its Orde...

Read More
Posted Under: Corporate Law |

Finally Rajasthan got Permanent Regulatory body to Regulate Real Estate Sector

The Real Estate (Regulation & Development) Act, 2016 has come into force on 1st May, 2016 and as per the provisions of the Act, the state government has to form the rules and incorporate the regulatory authority within 1 year from the enforcement of the same so as to regulate the real estate sector in […]...

Read More
Posted Under: Corporate Law |

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 judgment in the proceeding filed by the c...

Read More
Posted Under: Corporate Law | |

RERA – Annual Schedule of Rates (ASR) under RERA

Annual Schedule of Rates – ASR Value (as mentioned in CA Certificates for updates under RERA in Form 4 (especially while issuing certificate for ongoing project) ASR is a government tool to find out the minimum value of a property at different locations based on various market factors. In Delhi, it is called Circle Rate whereas; [&hell...

Read More
Posted Under: Corporate Law |

Role of CAs, Engineers, Architects under RERA

CA’s, Engineer, Architects Professionals play a prominent role under RERA. All promoters shall obtain from these 3 professional’s certificates from time to time to withdraw the money from the project Bank Account based on % of development of the project....

Read More
Posted Under: Corporate Law |

RERA Rajasthan: Documents for Project Registration

As per section 3 of the Real Estate (Regulation and Development) Act 2016 no promoter shall advertise, market, book, sell or offer for sale, or invite persons to purchase in any manner any plot, apartment or building in any real estate project or part of it, in any planning area, without registering the real estate […]...

Read More
Posted Under: Corporate Law |

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, the existing promoter be permitted to ...

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Real Estate (Regulation and Development) Act, 2016 – Interest Dharma

Introduction: The Real Estate (Regulation and Development) Act, 2016 is an Act of the Parliament of India which seeks to protect home-buyers as well as help boost investments in the real estate industry. The Act establishes Real Estate Regulatory Authority (RERA) in each state for regulation of the real estate sector and also acts as an...

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Posted Under: Corporate Law |

All about Real Estate (Regulation and Development) Act, 2016

Article discusses Salient Features of Real Estate (Regulation and Development) Act, 2016, Registration under Real Estate (Regulation and Development) Act, 2016, Exceptions for registration, Process of Registration under RERA, Registration of Real Estate Agent, Functions, Duties and Obligations of Promoter, Rights of Allottee under RERA 20...

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Posted Under: Corporate Law |

Joint development agreement under MahaRERA from land owner prospective

1. Introduction The Real Estate (Regulation and Development) Act, 2016 (‘RERA’) has been enacted to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment, building, or sale of real estate project, in an efficient and transparent manner and to protect...

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Posted Under: Corporate Law |

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