Every project where the development work is still not completed at the time of the commencement of the RERA Act, will be considered as an ongoing project whether or not the application for completion certificate is filed before a competent authority.
In the rural area of Rajasthan (Jaipur), more than 50 projects are going on, out of which only 5 projects have registered themselves under RERA and rest are unregistered projects which are going on.
Bombay High Court on Thursday ruled out that all incomplete and ongoing projects to come under the Real Estate Regulatory Act (RERA). Some States such as Haryana, Uttar Pradesh had kept ongoing projects out of RERA ambit. Housing and Urban Affairs Minister Hardeep Singh Puri said there is no scope to loosen the regulation for … Continue reading “All incomplete and ongoing projects to come under RERA”
Bombay High Court is upholding the constitutional validity of the Real Estate Regulation and Development Act (RERA) intimating that “ongoing projects” too would come under RERA ambit, the issue has been settled once and for all by Minister of Housing and Urban Affairs on Thursday. State governments will now have no scope to loosen the … Continue reading “Ongoing projects too would come under RERA ambit”
UP RERA- The State Authority not only extended the RERA deadline but also amended the definition of ongoing projects.
As per REDA, no promoter can sell/book/advertise or enter any agreement for sale any part of the project without prior registration with RERA authority.
As per section 3 & 4 of ‘Real Estate (Regulation & Development) Act, 2016 readwith rule 4 of above Rules, for the real Estate projects that are ongoing
As per section 3 & 4 of ‘Real Estate (Regulation & Development) Act, 2016 read-with rule 4 of above Rules, for the real Estate projects that are ongoing and have not received completion certificate
Real Estate projects that are ongoing and have not received a completion certificate, on the date of commencement of the Act, the promoter shall, within a period of 3 months from the date of commencement.
Real Estate projects that are ongoing and have not received a completion certificate, on the date of commencement of the Act, the promoter shall, within a period of 3 months from date of commencement, shall make application in triplicate for registration of the project.
A group of villagers, from whom Today Homes got land, took physical possession of the project and put up a notice at the gate of the nearly fully booked but incomplete housing society.
The Haryana Real Estate Regulatory Authority has issued notice to Empire Realtech Pvt Ltd along and an associated company, CHD Developers for completion of ongoing projects or face cancellation of registration. The HARERA has decided to debar builders from acquiring fresh licenses whose previous projects have been delayed. Also, the authority will blacklist such builders and a list of 50 builders in Gurugram has already been prepared.
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.
SBICAP Ventures has cleared applications from realty developers for stressed real estate projects investment worth over Rs 10,000 crore.
In order to help the COVID-19 hit real estate SBICAPS has announced lowering the internal rate of return (IRR) from 15 percent to 12 percent. That the move has been welcomed by developers all over India.
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