MahaRERA has been a model for other states. Recently, its proved again when suo motu action was taken for the first time against large group of promoters.
States were directed to establish a regulatory authority, whose work was to overlook the registration process and ensure compliance of the policies of the state.
UP RERA has imposed a fine amounting to Rs.1 Crore on ANSAL API for the non-compliance of orders passed by the authority.
Being the leading State MAHARERA is very strict on the builders as far as the RERA compliances are concerned, in Maharashtra, a promoter should update the progress report of the project on the MAHARERA website
Financial fraud is a phenomenon that haunts everyone alike. Not only does it mean loss of an asset for the one who has been at the receiving end of a fraud, it has the capability of shaking the roots of “confidence” and “trust” that anchor a society and/or an economy
UP-RERA has taken this step to ensure that homebuyers’ interests are effectively protected and that the RERA Act’s provisions are followed.
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Real Estate Regulatory Authority in Uttar Pradesh orders Forensic audit of errant developer 3C.
Tags Amendment under IBC, Tags bankruptcy, category of the financial creditors, execution of RERA orders
In UP RERA, a separate department has now been made to look into the matters where the execution of the order has not been done.