Online Property Selling Portals to be Registered under MahaRERA
MahaRERA ordered the web portals companies to get themselves registered as Real Estate agents under RERA within 2 months of the order.
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Real Estate agents not registering under rera citing lack of awareness
With real estate accessible in relatively every corner of the State, from shops offering photocopying facilities to visit organizations, one would envision that the total of all the real estate agencies could run into a few thousands.
Just 12 Percent Property Brokers Registered Under Maharashtra RERA
Regardless of expanding deadlines, hardly 12 percent property dealers in Maharashtra have enrolled under the MahaRERA, the state real estate regulatory authority.
20,000 registered real estate projects under RERA as of now
20,000 real estate projects have been registered under RERA from across the country.
Forums Under RERA
The Real Estate Regulatory Authority Act, 2016 (hereinafter referred to as RERA Act) intends to provide efficiency and transparency to the real estate market, with one of the key priorities being to defend the interests of purchasers in the real estate sector.
Complaint Under RERA
The real estate sector was unregulated for a long time. If customers experienced delays, they had little redress. Because court disputes may take a long time, most customers were at the discretion of the builders. A proper complaint process has emerged as a result of the implementation of RERA.
Duties and functions of Agents and Promoter under RERA Act 2016
Enacting of the RERA Act, 2016 made registration and duties of promoters and real-estate agents compulsory. The reason why the process of registration and duties of the mediator are specified is accountability and regulating promoters and real estate agents through a supervisory body.
PROJECT REGISTRATION UNDER RERA
Prior to the RERA Act coming into force, the real estate sector in India was mostly unregulated, with no standardization of business operations or transactions. Due to a lack of a legal framework, home buyers/allottees were often confronted with issues such as project delays, price increases, and poor building quality.
How to take maximum benefit from RERA as a Homebuyer and as a builder?
RERA was established to do away with project delays, malpractice, and irregularities in norms and increase transparency and accountability from builders and homebuyers both.
Pre-Deposit is Mandatory for Filing Appeal U/Sec 43(5) RERA
The Appellate Tribunal recorded its dissatisfaction to the effect that the appellant has not complied with provisions of Section 43(5) of the Act, 2016 and has not deposited the balance amount.
WORKING REPORT OF RERA AFTER ITS ENACTMENT
In the past five years of RERA, it has been successful to tackle the issues between the Home Buyers and Builders or Developers and providing transparency into the real-estate projects.
Revocation of Registration under Real Estate (Regulation & Development) Act, 2016
The Competent Authorities hold the power to revocate the registration of such promoters along with the publication of the name of such promoter in the defaulter’s list.
Execution of RERA order and attachment of assets of builders
The Authority has the power to hear the grievances of the allottees regarding execution of the orders and the Authority also has the powers to pass orders:
Offences and Penalties under RERA
The RERA Act is the best reform happened for the homebuyers. If in any situation a dispute arises, the offences, procedure and penalty is being clearly stated.
Complaint can be filed against subvention scheme violation under RERA
The RERA Authority has the power to decide and dispose of the complaints as RERA is the best and most expeditious remedy for homebuyers to get justice from the builder when they violate the subvention scheme and delays the possession.
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