User: IIHSDELHI Topic: iihs_land_newsletter_v2
Category: All-Channels :: RERA
Last updated: Aug 17 2018 05:56 IST RSS 2.0
 
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'No interest if possession date not lapsed' 17.8.2018 Metros | The Asian Age
The complainant Sunita Gunjal had booked a flat in "Anantya", a residential project of Radius & Deserve builders.
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MahaRERA directs developer to pay homebuyer over delay in flat possession 16.8.2018 DNA: Money
In what seems to be an interesting case, the recent judgement made by the Real Estate Regulatory Authority (MahaRERA) directed a developer to pay the homebuyer five per cent of the total payment made by the homebuyer towards the flat, who complained of delay in possession. The case concerns a building named Sheth Midori located in Borivali. A bunch of home buyers approached MahaRERA against the developer stating that the developer has delayed possession and hence they should be paid an interest on the account of delay. They alleged that the developer was now demanding additional amounts for an alleged increase in the carpet area of the apartments; however, no details of the same had been provided. During the hearing, the developer stated that he will handover possession of the apartments in accordance with the plan as mentioned in the agreements for sale and that no further charges will be demanded. Meanwhile, the complainants also requested that the developer be directed to pass the GST input tax credit ...
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Pay 10 per cent interest on late payment: RERA to buyer 16.8.2018 Metros | The Asian Age
The complainant had a flat in the realtors' 'Crescent Bay-T4' Parel residential project.
Industry welcomes PM’s firm resolve to place India among top economies 15.8.2018 Free Press Journal: Business
New Delhi: Terming Prime Minister Narendra Modi’s speech as progressive, industry bodies today
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Industry welcomes PM's firm resolve to place India among top economies 15.8.2018 Business | The Asian Age
Rakesh Bharti Mittal said the speech reiterated the growing confidence of the world in the Indian growth.
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Nine CIDCO projects flouted MahaRERA: Mumbai Grahak Panchayat 14.8.2018 DNA: Bangalore
Nine CIDCO projects flouted MahaRERA: Mumbai Grahak Panchayat
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Real Estate broker files case against home buyer, developer 13.8.2018 DNA: Bangalore
Real Estate broker files case against home buyer, developer
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DLF to offer only completed flats; to remove delivery uncertainty 13.8.2018 PTI: All news
DLF to offer only completed flats; to remove delivery uncertainty
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Recent rate hikes will not impact housing sector, says Renu Sud Karnad 13.8.2018 DNA: Wide Angle
Renu Sud Karnad, managing director, HDFC Ltd, believes that the recent rate hikes by the central bank will not have any impact on housing demand as it brings no significant change in the loan EMIs. Pradhan Mantri Awas Yojana is a prime reason behind the surge in the housing sector, she told Anurag Shah of Zee Business at Natcon 2018 in Berlin, adding that the premium housing segment will get a boost in next two-three quarters. Reserve Bank of India (RBI) has hiked the repo rate by 25 basis points in its third bi-monthly monetary policy review of 2018-19. Don't you think that this will have an impact on housing demand that was gaining some momentum recently? I feel that this slight increase of 20-25 basis points will not bring any huge change in the EMIs of the home buyers, and thus, will not have a great impact on the mood of the real buyers who are in search of a home to live. Definitely, it would have created problems if the rates would have moved up from existing 8-8.5% to 11-12%. But won't it have ...
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2-day real estate regulation seminar from Aug 18 10.8.2018 Business – The Navhind Times
NT NETWORK   PANAJI The Institute of Engineers (India), Goa chapter, will be holding a national seminar, RERA: A change management exercise, on August 18 and August 19. The seminar will emphasise on the need to standardise the regulations in the real estate sector and create awareness among consumers about the regulations in the Act. ...
In a first, Sub Divisional Officer asks builder to refund homebuyer 10.8.2018 DNA: Bangalore
In a first, Sub Divisional Officer asks builder to refund homebuyer
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Lodha Group in trouble? Wadala’s ‘New Cuffe Parade’ home-buyers knock on HC doors 10.8.2018 Free Press Journal: Mumbai
Mumbai: One of the renowned and leading construction companies, the Lodha Group, owned by the Maharashtra’s
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Top housing portals receive notices from MahaRERA 10.8.2018 Metros | The Asian Age
A hearing on the same will be conducted by the end of this month.
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RERA provisions would apply to long-term lease agreements: Bombay High Court 8.8.2018 Free Press Journal: Mumbai
Mumbai: The Bombay High Court has ruled that provisions of the Maharashtra Real Estate Regulatory Authority
Rajasthan government takes steps towards formalising RERA 4.8.2018 DNA: Top News
The state government has decided to formalise the Real Estate Regulatory Authority (RERA) in Rajasthan following high court taking cognizance of the issue. The authority constituted under the Real Estate Regulatory Act of 2016 has been operating on ‘ad hoc’ basis for more than a year. The urban development and housing department has written to the law department regarding constitution of selection committee for appointment of the authority. The department has sought the committee to be presided by chief justice of the Rajasthan high court or his representatives and will have secretaries of the local self-governance and urban development as members.  A bench of the Rajasthan high court has recently stayed implementation of all orders of the authority following a case moved by local wing of real estate developer body and others. The court had also sought the urban development department to submit explanation on non-constitution of the authority in accordance with provisions of the act. According to the ...
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Court RoundUp: Rajasthan High Court stays RERA orders 2.8.2018 DNA: Urban Tales
The Rajasthan High court has stayed orders issued by the state Real Estate Regulatory Authority and sought explanation over non constitution of a dedicated appellate authority in accordance to real estate regulatory act.   A real estate developers body and others have moved to the high court submitting that the authority has not established an appellate authority. The act was implemented in Rajasthan in May, 2017 and dedicated appellate tribunals were to be appointed within a year period. However, the Food Safety Appellate Tribunal remains designated for the RERA appellate tribunal. The real estate developers body has objected on absence of the appellate authority, hearing on which the high court on Wednesday stayed action on all decisions of the regulatory authority.  There is also difference in the presiding officer levels of the two appellate. The Next hearing in the case is scheduled on August 9.  CJ to decide on bomb convict parole A double bench of the Rajasthan High court forwarded parole ...
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PM Modi's bigmen speech to ease India Inc's concern 31.7.2018 Business | The Asian Age
The PM has strengthened industry's resolve to actively participate in the revival of the economy, he added.
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Ahmedabad: 1,300 homes launched in H1, 8000 sold 26.7.2018 DNA: Top News
Launch of new homes in Ahmedabad has dropped to a multi-year low in the first half of 2018, while sales and average price rose marginally, an industry report said on Wednesday. Ahmedabad saw launch of 1,323 homes in the first six months of 2018, 29 per cent lower than 1,874 homes in the same period of 2017, which was the period immediately after demonetisation, Knight Frank said in a report. The number of home launches stood at over 8,000 and 8,800 in the first halves of 2015 and 2016, respectively. Meanwhile, home sales rose by 2 per cent in 2018. The report said that the city recorded 8,087 home sales in January-June of 2018, as against 7,941 units in the same six-month period in 2017. Home sales have been in the 8,000-range since 2015, still a far cry from 2011 and 2012, when the number was between 15-16,000. Home prices have also gone up by an average of 1 per cent in a year. "With annual sales of 16,000 home units, the real estate market is healthy. The drop in new launches is mainly because the ...
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Infrastructure spending spurs cement sector revival 20.7.2018 DNA: Bangalore
Infrastructure spending spurs cement sector revival
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Uttar Pradesh may soon get lift Act to ensure safety in high-rise buildings 18.7.2018 DNA: Recent Columns
The residents of high-rise buildings in Noida, Greater Noida and Ghaziabad are demanding the introduction of an Act that will help the administration in ensuring the proper installation, operation and maintenance of lifts in the apartment complexes. There are as many as 2,000 high-rise buildings in Noida, Greater Noida and Ghaziabad and residents getting stuck in lifts has become an everyday affair. To make matters worse, no one is ready to take the onus in case of an untoward incident. Alok Kumar, the president of FedAoA of Ghaziabad, said, "The district magistrate of Ghaziabad said that the state government is going to make the guidelines for the lift Act and it will be formed within 90 days. There should also be a provision for a lift inspector." "The tussle for a UP Lift Act has been going on since 2015 when there were a series of lift mishaps in high-rise apartment complexes. The absence of regulation leads to several other problems. It is often seen that a multi-storey tower with over 100 flats has ...
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