According to the act, all the on-going projects in States should register with State RERA Authority till 31st of July 2017. But this clause has just become an immaterial requirement for registration under RERA.
Since RERA came in there has been downtime in home buying and property development as home loan market has struck its lowest.
Though the Central Authority allows secondary modifications as per the sources Telangana regime has decided to keep the Central Act as it is making nominal changes.
An escape window of 90 days was provided to the developers so that they can register their new and ongoing projects under RERA.
The State Government has provided a stretch to builders in Goa for ongoing projects to be registered under RERA, even though the Central Government refused to stipend the extension.
RERA Registration: The builders they are probing RERA Authority for 90-day window from the date of notification of RERA Rules to get themselves registered.
The State government advised the builders to register to register their ongoing projects under RERA Act. If the promoter fails to do so, they will be inviting cumbersome penalty.
Haryana Cabinet has validated Haryana RERA Rules, making Haryana 23rd State has notified the RERA Rules.
In this context, the Haryana RERA issued show-cause notices to 10 developers on Friday for advertising their projects without getting registered under the Haryana Real Estate Regulation Act (H-RERA).
The letter states, “If the rules are not notified under the Act immediately and the Regulatory Authority established by July 2017,
1st of May 2017 marked as a revolutionary date in the history of Real Estate sector as on this date “The Real Estate (Regulation & Development) Act” had come in force.
Confederation Real Estate Developers Association of India (CREDAI), Bhopal, anticipate around 6% rise in cost of project after GST.
Madhya Pradesh is well known as the “Heart of India” not only for its unique culture and its rich natural resources but also for its electric governance system.
As RERA deadline nears, regulator in Noida and Greater Noida are nowhere to be seen. RERA was notified in October last year and took effect in UP in May 2017 and July 31
As per central government recent press release, it is clarified that no developers shall be allowed to market their projects without getting registration under Real Estate Regulatory Authority (RERA).
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