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.

The first set of regulation in real estate industry has become reality now. The “Real Estate (Regulatory & Development) Act, 2016 has commenced from 01/05/2017.

The Place of Agra has not prescribed the final set of RERA Rules, however, it has started accepting the application for RERA registration on provisional basis.

Being one of the hubs in real estate projects, Lucknow deserve a separate analysis of RERA Registration in Lucknow, which is as under;

The real Estate projects that are ongoing and have not received completion certificate or occupancy certificate, on the date of commencement of the Act, i.e. 01/05/2017, the respective promoter shall be required to get registered with RERA

every promoter shall get the eligible real estate project, registered with RERA authority before sale/promotion/advertisement/booking etc.

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.