Relief for Builders in Gujarat: RERA Authority grants Extension to Registered Projects
GujRERA authority has extended benefit to more than 80% of the ongoing projects across the state which are likely to be completed in the next four years.
GujRERA authority has extended benefit to more than 80% of the ongoing projects across the state which are likely to be completed in the next four years.
Karnataka RERA has given a deadline extension of three months to all registered ongoing Real Estate Projects across the State.
Due to the unavailability of funds from banks and developers getting bankrupt, small developers will get into joint ventures, mergers, and acquisitions for their survival within the market.
Real sector is backbone of economy; hence Government is doing every best either in way to introduce new laws or new AIF funds. We advice to make best of this opportunity.
This article is all about the insolvency process which has been initiated which may include filing of claims, acceptance of claims, making of the committee of creditors and resolution plan
The quality certificate as under Form 2A and by this the entire process will become transparent and everyone will be assured of the quality of the projects.
Issues arise that if the project is a new project then it is mandatory for the promoter to get it registered before marketing the same. But what if the project is an ongoing project?
Mumbai Grahak Panchayat has come with a solution wherein it has launched a portal that will enable buyers to upload information of ongoing residential projects
The RERA Act mandated registration with the newly formulated state RERA authorities but the rebate was given to projects which have already procured occupation and completion certificates.
Some points have been discussed by Gurugram Bench of Haryana RERA has, in the case where the basic principle regarding the registration of project with RERA has been decided.
A judgement passed by the HRERA, Gurugram Authority, wherein it has been clarified that mere filing of application for OC and CC does not exclude the project for registration under RERA.
Karnataka RERA- The numbers of unregistered projects are not known, Karnataka has come up with a unique solution to solve the problem.
The projects which received completion certificate prior the commencement of the Act are not required to register.
The judgment of the Punjab and Haryana High Court is delivered the ongoing projects which has not received a completion certificate yet will be included under the purview of RERA.
There is still confusion about which project falls under the ambit RERA; what if the partial Occupation certificate has been received by the builder for any project, will it be out of RERA Ambit or not?