Representative imageThe Maharashtra Real Estate Regulatory Authority (MahaRERA) has cracked down on errant real estate developers with stalled or lapsed projects by freezing the bank accounts of over 1,950 such ventures.The decisive move aims to enforce accountability among developers and protect the interests of...
PUNE: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has revised the minimum eligibility criteria for forming a Self-Regulatory Organisation (SRO), in an effort to ensure regulatory compliance among property developers for registration of projects.Now, the minimum threshold to form an SRO has been...
Representative image HYDERABAD: Telangana Real Estate Regulatory Authority (TG RERA) has imposed a penalty of 9.9 lakh on a developer for multiple violations of the Real Estate (Regulation and Development) Act. The authority also directed the company to refund 33.8 lakh along with interest to the complainant,...
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...
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...