Every real estate agent needs to take prior registration with RERA authority of Punjab before dealing in any transactions relating to sale/purchase, advertising or brokerage of the property of a project registered under this Act.
The letter states, “If the rules are not notified under the Act immediately and the Regulatory Authority established by July 2017,
RERA Authorities has prescribed a simple and transparent procedure for registration of Real Estate Projects and Agents.
Before the RERA, Real Estate Agents were not required to get their business registered and thus resulted into many manipulation and fraudulent activities
As per section 9 of “Real Estate (Regulation & Development) Act, 2016 (REDA) read with Rule 11 of above mentioned Rules, Every real estate agent need to take prior registeration with RERA authority
Every real estate agent needs to take prior registration with RERA authority of Maharashtra before dealing in any transactions relating to sale/purchase, advertising or brokerage of the property of a project registered under this Act.
Government of Maharashtra notified RERA rules and established Maharashtra Real Estate Regulatory Authority (Maha-RERA), vide Notification dated 8 March 2017, for regulation and promotion of real estate sector in the State of Maharashtra.
Real Estate (Regulation and Development) Act, 2016 was first passed by Rajya Sabha on March 10, 2016 and passed by Lok Sabha on March 15, 2016. RERA Bill was first introduced in the year 2013.
There is a large chunk of unsold inventory across the locations and available with almost all the builders. They would in all likelihood be trying to offload them and even offer a reduced rate along with other freebies. Buyers showing renewed interest in this market have to be cautious as the chances of falling into a trap could be high.
From 1st May 2017, every promoter shall register the real estate project before its advertisement of any plot or apartment or building.
Every company shall file with the Registrar a copy of the annual return within 60 days and financial statement within 30 days of AGM.
Dormant company can be a company formed for a future project or to hold an asset or intellectual property without there being any significant accounting transaction OR an inactive company.
SEBI proposed a Consultative Paper titled ‘Corporate Governance Issues in Compensation Agreements’ to review the disclosure requirements under SEBI (LODR) Regulations, 2015. The Paper has proposed curbs on compensation agreements between promoters of a listed entity and private equity (PE) funds. One view is that there is no place at all for such side agreements in case of … Continue reading “SEBI proposed a Consultative Paper titled ‘Corporate Governance Issues in Compensation Agreements’”
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