The National Housing Bank (NHB) has asked housing finance companies (HFCs) to “desist from offering” loans for subvention schemes offered by developers.
Real Estate Regulatory Authority in Uttar Pradesh orders Forensic audit of errant developer 3C.
The Rajasthan Authority appears to be tightening the noose on these illegal colonies and unregistered projects.
The developer was directed by the RERA Authority to return the money of the few-flat buyers. However, the order was challenged but the builder was unable to deposit the amount required.
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.
The RERA Authorities of the various States have passed some landmark Judgments as RERA law provides them sufficient powers for the smooth functioning of their duties and role.
Central government is looking forward to bring a (removal of dificulties) order under section 91 of Real Estate and Regulation Act 2016.
RERA Act, 2016 and further with more positive reforms a new face of real estate sector free from all encumbrances will evolve.
An order passed by the Supreme Court, every project whether registered or not shall have to display the sanction plan of the project at the site of the project.
This is not compulsory that all RERA registered projects are investment worthy ,there are many projects registered under RERA on which investing money will become the worst decision of your life.