Amrapali Group is one of the biggest case where lot of homebuyers were struck. The plight of homebuyers of stuck projects is being heard. Hon’ble Supreme Court while hearing the matter of Amrapali Group, on 01/09/2020, asked SBIcap to issue funds of Rs. 625 Crs from the SWAMIH Investment Fund to complete the pending 6 project of Amrapali Group.
The MahaRERA in three separate orders directed the CCI Projects Ltd to pay interest on delayed period of possession after the ongoing six-month moratorium due to covid-19 crisis is over.
Real Estate Regulatory Authority in Uttar Pradesh orders Forensic audit of errant developer 3C.
TNRERA has come to the conclusion that the builders/promoters are not allowed to split the project until the consent from the two third buyers of the project have been obtained.
Almost every State RERA Authority has started functioning to serve the purpose of the Act and ensuring that no provisions are left untouched by the Builders or Developers. In this article we are going to discuss about the functioning of Tamilnadu RERA Authority.
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.
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has created a forum of 33 conciliators to set up 15 groups containing two individuals each
A detailed article where we are explaining that why RERA Registration is the must for Builders?
If any on-going project has not registered under respective State RERA, such project may have to face huge penalty which may be up to 10% of the project cost.
The State government of Tamil Nadu alleged that developers must register their ongoing projects before selling or advertising. In case developers fail to register under the RERA Act he will face heavy penalty.
Since RERA came in there has been downtime in home buying and property development as home loan market has struck its lowest.
An escape window of 90 days was provided to the developers so that they can register their new and ongoing projects under RERA.
Due to eleventh-hour rush maximal registration is expected, staff members of MAHA RERA Authority have been asked to work an extra hour for the next 3 days.
RERA Registration: The builders they are probing RERA Authority for 90-day window from the date of notification of RERA Rules to get themselves registered.
The State government advised the builders to register to register their ongoing projects under RERA Act. If the promoter fails to do so, they will be inviting cumbersome penalty.