Representative image HYDERABAD: The Telangana Real Estate Regulatory Authority (TG RERA) has imposed a penalty of 8.3 lakh on a city-based builder for collecting booking amount prior to obtaining RERA registration. The authority also directed the builder to reimburse two complainants 2 lakh within 30 days....
LUCKNOW: In what could arguably be called a remarkable achievement, the UP real estate regulatory authority (Rera) in the past 17 months has recovered Rs 674 crore from promoters and developers since Sanjay Bhoosreddy, a 1989 batch IAS officer, assumed its chairman's office.Prior to his tenure, the real estate...
MUMBAI: The Bombay High Court has ruled that a dispute between an individual allottee and a promoter covered by RERA is non-arbitrable.The jurisdiction of the Real Estate Regulatory Authority, established under the provisions of the Real Estate (Regulation and Development) Act, 2016 (RERA), is not ousted, even if...
Representative image MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has revised the minimum eligibility criteria for forming a Self-Regulatory Organization (SRO) that are expected to help ensure regulatory compliance among property developers.The threshold has been reduced from 500 projects to...
Representative image BHUBANESWAR: Odisha Real Estate Regulatory Authority (ORERA) has asked all promoters to mandatorily submit the quarterly progress reports (QPR) and annual audit certificates, even if they receive the RERA registration in the middle of the year. ORERA issued the direction after noticing that...
MUMBAI: The MahaRERA, in a recent order, has asked the promoter of Lokhandwala-Kataria Construction, promoter of Minerva project at Lower Parel, to pay interest for the delayed possession to a home buyer, who had booked two flats in the project, from January 2022 till the date of offer of possession with OC, at...
BHUBANESWAR: In a landmark order, Odisha Real Estate Regulatory Authority (ORERA) on Saturday directed a realtor executing a mega housing-cum-commercial project at Phulnakhara on the city outskirts not to proceed with further bookings as it repeatedly failed to adhere to conditions specified in its registration...
Representative imageGHAZIABAD: Nearly 77% of the recovery certificates issued by the real estate authority to the erring developers have been recovered, marking the city's lowest pendency rate in the realisation of recovery challans (RCs) issued by UP Rera.According to data from the board of revenue, Ghaziabad has...
Representative image AHMEDABAD: Gujarat Real Estate Regulatory Authority (GujRERA) has announced new banking rules to be implemented from Jan 1, 2025. According to the new rules, developers will need to maintain three bank accounts for a project to ensure transparency in financial transactions. All ongoing projects...
Representative image HYDERABAD: The Telangana Real Estate Regulatory Authority (TG RERA) has imposed a penalty of Rs 11.5 lakh on Paradise Peak Private Limited for failing to register its 12-acre layout project with the authority, as required under the Real Estate (Regulation and Development) Act. The penalty...