The Finance Minister disclosed that the stimulus package is a 15 step measure, the Tranche 2 announcement on 13th May 2020 disclosed 9 steps so far and that further steps to actualize the goals of AatmaNirbhar Bharat
The real estate industry, contributing 7 percent to the GDP and employing 15% of the labor force, has come to a complete standstill. Recently, MahaRERA has decided to hear urgent cases.
RERA Authorities being regulators are trying to help the Developers in one form or the other. Maharashtra & Karnataka-RERA have already given a three-month extension to registered projects.
Karnataka RERA has given a deadline extension of three months to all registered ongoing Real Estate Projects across the State.
MahaRERA has been a model for other states. Recently, its proved again when suo motu action was taken for the first time against large group of promoters.
The Authority can grant extension in non-Force Majeure condition also by recording its reasons in writing and the same cannot be done for more than one year.
The complaints against the defaulting builders should only be taken up by RERA Authorities of the State before being referred to the NCLT for the insolvency proceedings.
According to the Rajasthan RERA If the possession is not provided on the given date then it will amount to punishable offence.
Punjab RERA some sections of the Act were enforced with effect from 1st May 2016 although it came completely into force from 1st of May 2017, Chairman of the Punjab RERA is IAS Sh. N.S. Kang.
Bombay High Court (File photo)MUMBAI: The Bombay High Court has passed a remark, while dismissing builders’ plea against the constitutional validity of RERA, that Maharashtra’s RERA rules need to be changed after taking “a fresh survey of the rules. The remark was made with reference to Section 6(a) of the Maharashtra Rules 2017 that refers to grant or rejection … Continue reading “Review Maharashtra RERA project completion rules: Bombay High Court”
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”
Recently, Bombay High Court reviewed the project completion rules under Maharashtra Real Estate Regulation and Development Act (MahaRERA). A remark has been passed while dissolving builder’s plea against the constitutional validity of RERA that MahaRERA Rules need to be changed. The remark was made with reference to Section 6(a) of the Maharashtra Rules 2017 that … Continue reading “Bombay HC dismissed the plea of builders against constitutional validity of RERA”
About 70% of the assessees under the Goods and Services Tax (GST) had filed detailed sales returns for July on Tuesday, as it was the official deadline. No further extension was given as earlier the GST filing deadline had been extended twice earlier. About 4.59 million entities of the eligible 6.5 million filed the Goods and … Continue reading “Only 70% filed accurate GST Returns for July”
An escape window of 90 days was provided to the developers so that they can register their new and ongoing projects under RERA.
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
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