AHMEDABAD: Even after getting an extension, only 79% of developers submitted annual reports of financial statements for 2024-25, according to GujRERA (Gujarat Real Estate Regulatory Authority) sources. The authority has implemented a penalty structure for developers who are not following the rules....
AHMEDABAD: Gujarat RERA has observed serious loopholes in loan practices by builders and non-banking finance companies (NBFCs) for project loans, including mortgaging unsold inventories of other projects and even disbursement without RERA registration.The authority has decided to raise the issue with the state finance...
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 AHMEDABAD: The Gujarat Real Estate Regulatory Authority (GujRERA) has introduced the Gujarat Real Estate Regulatory Authority (General) (Amendment) Regulation, 2024, which aims to simplify the project progress reporting system for developers. The amendments, effective Jan 1, 2025, will bring...
Representative image AHMEDABAD: The Gujarat Real Estate Regulatory Authority (GujRERA) on Monday issued a directive mandating all real estate developers to open separate bank accounts for their projects in scheduled bank branches operating within the state of Gujarat.The directive was issued after the authority...
Representative image AHMEDABAD: Gujarat Real Estate Regulatory Authority (GujRERA) is set to ease the norms surrounding the quarterly progress report (QPR) submission for real estate projects. The updated rules, expected to be announced soon, will stop the automatic locking of project quarters if the QPR is...
Representative ImageAHMEDABAD: In a major blow to developers across Gujarat, some 1,000+ real estate project-linked bank accounts have been frozen by Gujarat Real Estate Regulatory Authority (GujRERA), over non-compliance issues. Developers of these projects have failed to meet Quarter-End (QE) compliances on...