User: IIHSDELHI Topic: iihs_land_newsletter_v2
Category: All-Channels :: RERA
Last updated: Feb 20 2018 03:00 IST RSS 2.0
 
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RERA gives another chance for registration 20.2.2018 The Tribune
Tribune News Service Chandigarh, February 19 The Real Estate Regulatory Authority (RERA), Punjab, has decided to give one more chance to those promoters who did not apply for the registration of their projects till December 31, 2017. The authority has called upon promoters to avail this opportunity and submit their applications for registration of their projects to avoid punitive action under law. A spokesman for the state government said as per the provision of Section 3 under the Real Estate (Regulation and Development) Act, 2016, promoters of the ongoing projects (except those exempted under Section 4 of the Act) were required to register their projects with RERA within three months of the commencement of the Act i.e. July 31, 2017. The authority had later extended the last date of registration to December 31, 2017. The spokesman said many applications were still being received by RERA for registration. “The authority has therefore decided to give one more chance to such promoters to submit their ...
Mumbai confidential: Twist in the tale 19.2.2018 Mumbai – The Indian Express
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VGN flat buyers can filecomplaints, says official 19.2.2018 The Hindu - Tamil Nadu
Regulatory body says it will protect buyers
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HC puts BMC’s ‘open terrace’ policy up for scrutiny 18.2.2018 Free Press Journal: Mumbai
Mumbai : In a major setback for Brihanmumbai Municipal Corporation (BMC), the Bombay High Court on Friday said
Expo for home buyers 18.2.2018 Hindu: News
FAIRPRO 2018 to begin on February 23
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Budget 2018: hits and misses 16.2.2018 Hindu: Home
Nidhi Adlakha speaks to experts on what realty players gained and lost out on in this year’s round-up
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Didn't sign an agreement for sale with builder? Not a buyer under RERA 14.2.2018 Latest News
Real estate regulators may not give relief to home buyers if the agreement is not executed
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Bombay High Court slams builder DS Kulkarni and his wife for delaying payment to the depositors 14.2.2018 Free Press Journal: Mumbai
Mumbai: The Bombay High Court on Tuesday came down heavily on prominent builder DS Kulkarni and his wife
Retd HC judge heads Revenue Commission 14.2.2018 The Tribune
Tribune News Service Chandigarh, February 13 The state government has set up the Revenue Commission, headed by Punjab and Haryana High Court’s retired judge SS Saron. Its mandate is to make existing laws and procedures on land administration in tune with the requirements of agricultural and non-agricultural uses, and propose new laws and procedures to make revenue administration more transparent. The six-member panel includes Real Estate Regulatory Authority (RERA) chairman and retired IAS officer NS Kang; former Head of Department (Economics), Punjabi University, Dr SS Gill; retired PCS officer Jaswant Singh; retired Managing Director of State Cooperative Bank GS Mangat; and Punjab Land Records Society (PLRS) adviser NS Sangha (another retired PCS officer). A notification to this effect was issued by Additional Chief Secretary-cum-Financial Commissioner Revenue, Housing and Urban Development, Vini Mahajan, here today. She told The Tribune that the commission would suggest norms of population, area etc. ...
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Maharashtra: 550 Mira Road flat owners receive RERA boost 13.2.2018 Free Press Journal: Mumbai
Mumbai: Nearly 550 flat owners of Mira Road project—Tanvi Eminence, finally gets a relief. Recently,
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Bombay HC slams BMC Rooftop restaurant policy 13.2.2018 DNA: Mumbai
The Bombay High Court, on Monday, picked loopholes in the Rooftop restaurant policy, which was finalised by the Brihanmumbai Municipal Corporation. It said: "As per several enactments, the terrace is a common amenity area, how can it be used by an owner/ developer or a particular member. It is illegal." A division bench of Justice RM Borde and Justice Rajesh Ketkar urged the government and the Corporation to wake up and take the example of the Kamala Mills fire, in which 13 people lost their lives, as an opportunity to revisit and correct in future and also have a mechanism to check violations committed by restaurants. The bench while asking the Corporation to place on record, by Wednesday, its rooftop restaurant policy, said: "As per Maharashtra Ownership Flat Act ( MOFA), Real Estate Regulatory Authority (RERA) and Apartment Ownership Acts, if a member is a lessee or tenant, he will have a right to the amenities, and with consent of other members, not be required for letting out the area?" The court ...
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Over 270 families still ‘homeless’ 13.2.2018 The Tribune
Tribune News Service Faridabad, February 12 As many as 270 poor families here that were allotted flats two years ago are still ‘homeless’. The one-bedroom flat complex built by a private builder for the BPL category in Sector 87 here has no basic amenities such as water and power supply. The possession of flats was given in 2016. “We are still living in a rented accommodation in a private colony. We are paying Rs 4,000 though we were allotted a flat in SRS Pearl City in Sector 87 two years ago,” says Raju, son of Hari Singh, a resident of Ajronda village here. He says they have paid the full amount of Rs 2 lakh to the builder, the latter has not provided water and power connections to them, thus rendering the flat of no use. The building structure has suffered damaged due to lack of maintenance by the builder. Rajesh Kumar, an allottee from Dabua Colony here, says they had filed a complaint (CM/OFF/N/2017/ 142047) at the CM Window on December 11 last year but got no relief so far. Several applicants ...
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Kamala Mills Fire | Bombay High Court slams BMC, picks loopholes in rooftop restaurant policy 12.2.2018 DNA: Top News
The Bombay High Court on Monday, picked loopholes in the rooftop restaurant policy finalised by the Brihanmumbai Municipal Corporation, it said, “As per several enactments the terrace is a common amenity area, how can it be used by an owner/developer or a particular member. It is illegal.” A division bench of Justice RM Borde and Justice Rajesh Ketkar also urged the government and the corporation to wake up and take the example of the Kamala Mills fire, in which 13 people lost their lives, as an opportunity to revisit and correct in future and also have a mechanism to check violations committed by restaurants. The bench while asking the corporation to place on record by Wednesday, its rooftop restaurant policy said “As per MOFA, RERA and Apartment Ownership Acts, if a member is a lessee or tenant will he have a right to the amenities and will consent of other members not be required for letting out the area.” The court made it clear to the civic body that it wants to understand from it the clear ...
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Maharashtra: RERA fines six developers for not following norms of act 12.2.2018 Free Press Journal: Mumbai
Mumbai: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has imposed penalties of Rs 2 lakh
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MahaRERA attempts to curb admin delays 12.2.2018 Metros | The Asian Age
During recent hearings, developers have mentioned that the delay from the administration is causing the projects to take longer time to complete.
Real estate gets back on recovery path 12.2.2018
Mumbai: With the real estate market beginning to adjust to various reforms like demonetisation, GST and RERA, most Indian metros witnessed recovery with sales improving, while property prices corrected or maintained status-quo, a survey said. According to the survey by property portal 99acres.com, most of the metros saw average property prices either dipping or remaining flat, while overall sales improved in a few markets. The sales volume witnessed a growth in cities such as Pune, Mumbai and Bengaluru on the back of price corrections. While Hyderabad and Kolkata saw rentals increasing by four per cent each during the October-December 2017 quarter as compared to the same period in 2016, Bengaluru and Mumbai recorded three per cent hike. The report said the inventory-heavy markets of Delhi NCR and Mumbai witnessed corrections in some popular housing pockets of Gurgaon, Noida and Navi Mumbai. "The real estate industry underwent some of the most radical reforms and avant-garde policy chan-ges in 2017. ...
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Real estate gets back on recovery path 12.2.2018 Business | The Asian Age
RERA appears to have increased buyers' confidence, but slowed supply.
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Steel price hike by 60 per cent hits realty in Telangana 11.2.2018

Hyderabad: Steep hike in the rate of steel and iron has brought construction activities to a halt. Prices have increased by 60 per cent in the last six months and 30 per cent in the last two months. Unable to bear escalating costs, contractors and builders have decided to stop their works for the time being.

With the implementation of Real Estate Regulatory Agency (Rera), the builders are now urging the government to allow them to revise the sale agreement upwards if the overall costs exceed five per cent by arguing that they can manage cost escalation only up to 5 per cent and the rest has to be borne by the buyers.

With sales decreasing in the past three months, iron and steel traders too are suffering great loss.

The state government’s efforts to persuade steel manufacturers to reduce the price of iron and steel for government projects have failed. 

No respite from slowdown likely in 2018 10.2.2018 tribuneindia.com
The lingering impacts of note-ban and taxation and regulatory reforms, which have hit the realty market in 2017, will continue to persist this year also as the huge inventory pile-up and limited scope for distress sale leave little scope for a significant price hike, says a report.   The cascading effect of note-ban, implementation of RERA and GST had dampened investment in the real estate sector in 2017, and led to a 5-7 per cent decline in average prices and there is no likelihood of prices clawing back this year, warned an industry report by Anarock Property Consultants.  “Although the tail-end of 2017 showed some signs of revival and there was an uptick in demand for ready-to-move-in properties, multitude of challenges in the form of lower prices and inventory pile-up will continue in 2018,” Anarock chairman Anuj Puri said. He further said the huge unsold inventory and the possibility of distress sale limit the possibilities of any significant price appreciation near-term.  Sluggish demand along with ...
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ACC net doubles to ₹206 crore on better realisation 8.2.2018 BusinessLine - News

ACC reported that its net profit more than doubled to ₹206 crore (₹91 crore) on the back of better realisation and higher production.

Net sales were up 30 per cent to ₹3,417 crore (₹2,625 cro

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