Enacting of the RERA Act, 2016 made registration and duties of promoters and real-estate agents compulsory. The reason why the process of registration and duties of the mediator are specified is accountability and regulating promoters and real estate agents through a supervisory body.
In India after farming, the second biggest financial area is of land and building up of RERA Act, 2017 is a major advance towards a more organized method of managing the housing market in India.
The provisions were not sufficient to render punishment to the developer and the builder for misconducting and breaching the terms and conditions of the builder buyer agreement in the long run.
According to RERA, grievances filed with the authority must be resolved within 60 days of filing. Complaints have been settled more quickly via the conciliation forum than through the authority. It also cuts down on the expense and time of litigation.
RERA registration is required for any real estate project that comes under the RERA Act’s scope. In this article, we take a closer look at the penalties for non-compliance under the RERA Act.
Maharastra government has proposed amendment in MahaRERA act to crack down on builders who sell a single flat to multiple buyers in a significant step.
MahaRERA Appellate Tribunal gave its much-awaited order in writing, in favor of home buyers by setting aside the earlier order by MahaRERA that Section 12 of RERA does not act retrospectively.
Don’t keep sleeping on your rights as homebuyers because the newly implemented RERA is here to empower you and before time runs out to go grab your rights.
In many of the instances, the RERA Authorities receives the complaint of the projects which were handed over long ago before the RERA.
The RERA laws explicitly says that the appropriate government shall only make rules for the smooth functioning of the act and it does not say anything about States powers to dilute the Central law.
Registration of project and filing RERA complaint, both are separate activities. A RERA case can be filed even against the non-registered projects.
Detailed article on whether in cases of termination of agreement before the implementation of RERA Authority, the jurisdiction of the RERA authority is ousted or not?
RERA does not speaks about the alteration of the terms and condition of the agreement to sale but if there is any contradiction, it is understood that law will prevail.
RERA Authorities are carefully analyzing each and every legal and factual aspect before arriving at a conclusion and that the same is evident from the reasoning and order passed thereto by the RERA Authority.
The MahaRERA has imposed penalties ranging from 2 lakhs to 12 lakhs on six developers for not following the obligations mentioned under S.3 and S.11 (2) of the MahaRERA Act
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