UP-RERA sends letters to over 1200 realtors informing about stress fund

New Delhi

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has sent letters to 1227 realtors across the state informing them about the benefit of stress fund scheme announced by central government recently.

“The step has been taken in order to ensure that the promoters of such projects are aware of the scheme so that
the projects are completed, and the home buyers of such projects are able to get their home,” said the authority in a media release.

The authority also held a meeting in November with all promoters informing them about the scheme so that they are able to apply for the last mile funds under the stress funds in time and in a proper manner.

Eligibilities which a project should meet to be able to avail the said fund:

  1. Project should be RERA registered
  2. Project is stalled due to lack of funds
  3. Project falls in affordable and middle-income group segment
  4. Project should be net worth positive
  5. Pricing of units shall not be more than Rs 1.5 crore, if the project is located in NCR region and upto or less than Rs 1 crore for rest of India
  6. Priority for projects very close to completion
  7. Carpet Area of housing units should not exceed more than 200 sq meter

The central government in November had proposed fund of Rs 25,000 crore to complete pending realty projects. Out of the total, government infused upto Rs 10,000 crore initially and the rest is to be contributed by banks, LIC and other sources.

The fund will be set up as a Category-II AIF (Alternate Investment Fund) debt fund registered with SEBI and would be professionally run. For the first AIF under the special window, SBICAP Ventures has been engaged to be the investment manager.

Source: https://realty.economictimes.indiatimes.com/news/industry/up-rera-send-letters-to-over-1200-realtors-informing-about-stress-fund/72393122

Wooden box is not applicable for Electrical Fittings

Detect Issues

Main fuse fitted over wooden box.

Describe Issues

Wood is a flammable material. If main fuse or any electrical accessory is fitted over it, there are high chances of electrical hazards. If not rectified can cause safety hazards for occupants.

Direct Solutions

We recommend removing the wooden box and installation of bakelite sheet for fuse & D.B. mounting.

How Home Inspection Can Improve Your Property Value?

Who doesn’t dream to own a home? In India, around 69% households in urban areas are found to be living in owned houses. In rural areas, this percentage is 95%. On an average, around 86% of households live in owned houses. A humble, two-storied house, a large bungalow, or a 2BHK flat in a housing society – they may vary in shapes and sizes. But, owning a home is largely common in Indian society.

In a lifetime, no purchase is as important and as big as buying a home. Buyers are exceptionally cautious about spending their hard-earned money as a huge amount of financial transaction is involved here. It is not enough if the house is only beautiful. A property with the facility of “ready-to-move-in” is mostly preferred. Options that involve less investment of money, time and effort top the list of preferences. Buyers need assurance that the house of their choice is in good shape. They do not want their investment to go into something that would need a repair here, a brush-up there every alternate day. If as a seller or developer you can give such an assurance then, automatically your credibility increases and you can quote a higher price for your property. A home inspection is just what you would need.

Before we explain to you the positive effect of home inspection on property value, here is what the service is all about – What is Home Inspection? Learn the Basics of It..

Benefits of a pre-sale home inspection

For a Homeowner/ Seller

1. Identify the repair needs before selling. Result – A more alluring property
It is very much true in real estate that the first impression makes the last impression. To make sure that your house is at the top of the priority list of your buyers, you have to make it “the best” in the market. A beautiful house is definitely enough to attract attention. But, it needs to be in perfect condition as well. How can you ensure that without inspecting it in the first place?

Getting a third party perspective, in this case, proves to be even more helpful because, after all, it was your home; you are unlikely to see any real defect in it. Professional home inspectors can identify the underlying problems with your home and also make out its potential in an unbiased manner. Additionally, attending the problems would add to the aesthetics which further enhances its appeal to the buyers.

A home inspection is likely to find out some common issues you might be experiencing the outcome of. Plumbing and fixture problems, electricity issues, problems of walls, floor, and roof, damage due to moisture intrusion, leakage in the roof, etc are common outcomes you get to know about after a successful home inspection. You would think – “but these are costly to repair!” You are right. But then, why would anyone want to buy a property with so many issues at a high cost? Automatically, the perceived value of your property gets lowered.

A home inspection gives you the scope to attend the problems and mend them in a time before you put your house up for sale.

With the tendency of buyers to incline more and more towards choosing “ready to move-in” properties, it is less likely they will care even a tad bit about repairing before moving in. So, if you leave the issues unattended, the number of potential buyers will automatically become less. Once you repair them, the aesthetics and ‘liveability’ quotient of your house increase manifold and you get more buyers.

Now as a seller, you may not have the required amount of time to attend all the issues the home inspection points out. No worries. Try fixing as many issues as you can. Fix the electrical problems, mend the leaky pipes, treat the roof, ceilings and walls for dampness, and replace the locks of doors and windows. These will improve your property condition a lot and deliver a feeling to the buyer that you do care about your house. Quick and easy selling with high selling price guaranteed.

2. Lesser chances of price negotiations. Quicker and smoother selling process
You will be amazed at the issues home inspection will point out to you, many of them you were completely in the dark about. You can attend them once you get the report within a few days.

If you leave it upon the buyers to call for home inspection, be prepared for 3 consequences, any of which would follow. The buyer might fix the issues, negotiations for lower selling price will come up or no deal will take place.

Pre-sales home inspection will eliminate any surprise elements for the buyers. You, the seller, know them beforehand. You can either fix them at your cost or disclose them to prospective buyers and reduce the selling price. But don’t make the mistake of hiding them, as truth will be revealed eventually.

Early disclosure of the problems would eliminate buyers’ suspicion. Price concession negotiations will not come up either. Altogether, you will have more selling power to you and the entire process will become faster.

3. Pre-listing home inspection helps generate more number of genuine leads
To list your house on property listing websites and marketplaces1, you need to log in as an ‘owner’, ‘agent’, or ‘builder’. After that, you have to fill up the online form there with complete details of the property and post its pictures. Upon verification, your listing is made visible to your prospective buyers.

Only a good property listing – complete with all the information and pictures showing various parts of the house helps you draw more eyeballs. So, to make your property picture-perfect, you must get a thorough home inspection done and clean and repair everything that looks shabby and damaged in it.

In a nutshell, if you are a seller, try to consider everything from a home buyer’s perspective. See with a buyer’s eyes and you will know the true value of your property.

To give you a clearer idea, here are our 5 reasons to get a home inspection before listing your property for sale.

For a Developer

1. Improved trustworthiness & better business
How often have you heard marketers saying “Don’t sell a product, sell trust?” In today’s scenario, this is the ultimate truth, especially in real estate. A developer or realtor who promises a home inspection before handover and gets that heard through proper channels and promotion earns additional points. His credibility increases manifold and he can set a higher price for the property he is intending to sell.

Buyers too feel safer to enter into deals with real estate brands that promise them better service and take care of their interest. Business growth and stronger customer relationships are a natural outcome.

Click here to know more for further details.

2. Home inspection and property value: How is a buyer benefitted?
Today’s home buyers are much aware and cautious about what they are buying. They bank on information and genuine reviews before making an investment decision. So, when a seller or developer gives them the assurance of a pre-sale home inspection, they feel safe about that deal. Because, home inspection for a buyer comes with a bunch of advantages:

  • It gives buyers a protection against the unknown hazards
  • A timely inspection and rectification of issues save their money and valuable time
  • Safeguards them with RERA2
  • Gives them health and safety assurance against moisture, damp, and electrical issues
  • Allows them to forecast future repair/ replacement costs
  • Educates them about prolonging the life of their property

Above everything else, a home inspection gives buyers peace of mind that comes from knowing the fact that the home they are buying has a solid foundation. It is not just a construction that looks good from outside. Its health has been checked and ‘Okayed’ by a team of experts. This very thought helps to increase the perceived value of the property in the buyer’s mind and the deal reaches its completion smoothly.

Hence, the property value is definitely increased by home inspection. If you are planning a buy a new home or planning to put your home up for sale, do make sure you opt for the service or else you will get to face unwanted issues, a complete ‘un’-match for your dream abode. Call for it now and schedule a home inspection.

Reference links used:
1. https://www.makaan.com/rent-sell-property-online
2. https://www.bankbazaar.com/home-loan/rera-act.html

Office Inspection: For a Safer Workplace and Happier Team

Almost on every weekend you spend time fixing something or the other in your home, right? You make it safer, more secure, eliminate any chance of damp – in simpler words, you strive to make your home more ‘liveable.’ But have you ever wondered the same issues may also be present in commercial spaces as well? If work is worship for you, your office must be your temple. Unfortunately, we do not pay the same attention to the health of the building where we spend almost 9 hours daily, working, and completely skip office inspection – well, almost, in most cases! It is high time we became aware of the attention commercial properties need. It will cumulatively make our life in and outside our home much safer and beautiful.

Quite similar to home inspection, office inspection also covers a wide range of services. To get an idea of what all comes under the umbrella of this so-called ‘inspection,’ read this article on Diversity of Home Inspection.

Major services under office inspection

Maintaining health and safety at the workplace is of utmost importance. Hazards can take place due to plumbing issues, electrical issues, and leakage or damp problems. All of them need individual attention when it comes to inspection. In fact, none of these issues can be left for them to arise in the future. The concerned authority must be proactive about checking every facility at regular intervals so that the chances of faults and failures can be reduced and any downtime due to them can be avoided.

Following are the major service categories that ensure complete safety of an office building:

1. All-over inspection

Professional property inspectors conduct a non-invasive, visual examination of all the accessible areas of an office complex using modern technology and specialized tools and look for issues that require immediate but long term resolution. They even help to identify areas that may become problematic in the long run. After inspection, they generate software-driven reports (with relevant images) mentioning issues observed and deemed critical. Some of the major areas that come under the scanner include:

  • Exterior walls
    • Are there any cracks, efflorescence, or plants growing on the walls?
    • If the paint condition is good or not.
  • Basement/ driveways: Water stagnation, peripheral drainage blockage, etc.
  • Floor
    • Slope
    • Tiles – hollow tiles, joints grouting, dampness, slip resistance, etc.
  • Stairways: Condition of the handrails, height of the risers, slip resistance of the steps, lighting, etc.
  • Ladders, ramps, and guardrails
  • Roof: Covered or not, slope, drainage system, stagnant water, cracks, seepage problem, etc.
  • Plumbing system: The overall condition of the external as well as concealed piping system, leakage or blockage in the pipes, piping material, etc. Also Leakage or loose fittings in any component of the washrooms, tank, blockage in the basins, the functionality of the showers, etc.
  • Overall sanitation of the washrooms and pantry
  • Doors and windows
    • Locks and latches – Crucial for ensuring security
    • Sliding/ swinging door operability
    • Door and window frames – if there are any gaps in between them – pathways to water seepage
    • Proper opening and closure
  • Interior walls
    • Cracks
    • Paint condition – popping paint or other paint deterioration
    • Dampness/ seepage
    • Wall tiles
    • Wallpaper condition
  • Ceiling: Watery patches due to excessive condensation or leakage, paint condition, etc.
  • Electrical system: Concealed wiring, switches, plugging points, lights, and machines and appliances, safety issues, etc. Checking all these things come under electrical inspection which is further explained below.
  • Fire handling equipment
  • Furniture, material storage, and other equipment

An exhaustive list – isn’t it? Inspecting all these for issues, small or big, is crucial for maintaining basic working conditions in an office. Faults in any of these systems may otherwise lead to unexpected downtime and loss in productivity.

2. Damp Assessment and Inspection

Damp can deteriorate a complete building – be it the private property or commercial space. This can be a result of faulty roofing, low-quality building materials, lack of proper ventilation or plumbing issues. Leaky pipes and fixtures are also responsible for dampness. With a proper damp assessment and inspection, you will save not only the office building but also the occupants. Damp assessment will list down the issues found in the building and inspection will reveal the sources – all with the help of advanced thermal imaging technology & tools that the inspection professionals carry with them.

Damp issues if ignored can severely affect the health of the workers as well as the building. How? Read Moisture / Damp / Seepage – The Invisible Silent Killer: Unsuspecting Criminal.

3. Electrical Inspection

Imagine a day at work when suddenly the lights went out and the computer monitors in front of the employees went blank. Reason? Short circuit, maybe. Of course, you can always call an electrician and mend the wires after it happens. But what about the loss of money and time and data when an electrical problem makes its way in?

Imagine electrical issues of a more serious nature. A short circuit can be as big as a fire break-out also and you know the consequences of it, right? To avoid any such untoward phenomenon that may also cause casualties, you must invest in a timely electrical inspection for it is a preventive maintenance function that reduces labour and material cost while reducing the amount of reactivity to failures.

To learn more about the differences between preventive and predictive maintenance, click here1.

4. Checking fire safety

As already mentioned, a thorough inspection of the office building will invariably cover the aspect of fire safety. An office building is a commercial hub where many individuals come and work for long hours on a daily basis. So, there can be numerous risks of fire – some due to wrong habits like smoking in an enclosed area other than the designated zone, using ovens with LPG cylinder for cooking inside the canteen, and others due to electrical hazards.

In India, the National Building Code (NBC) published by the Bureau of Indian Standards (BIS) is the basic model code for building construction and fire safety2. For ensuring compliance under this code, commercial buildings need to use equipment/ installations that are duly certified under the BIS Certification Marks Scheme. Plus, they must also meet other quality requirements. An office inspection checks the fire safety controls and points out issues that may turn out to be hazardous in the long run. Some key areas that are looked at for ensuring fire safety include:

  • Smoking zones
  • Fire exits
  • Kitchen equipment
  • Malfunctioning appliances
  • Electrical sockets
  • Flickering lights
  • Fire safety equipment

Why office inspection so important?

It would not be exaggerating to say that office inspection is the ultimate necessary thing for your office. The inspection would eliminate a number of issues which would add to your cost and human health on a recurrent basis:

  • Safety hazards arising from faulty wiring system, non-functional switches, and unsafe working practices will be managed.
  • Unhealthy conditions inside the office, growth of fungi, microbes, and pests lead to a myriad health problems. Be it plumbing issue or faults in the designing, damp assessment and a thorough inspection would eliminate any such possibilities from the commercial space.
  • Excessive condensation problems in the building which may arise due to issues in AC installation/ maintenance and its continuous use can be checked.
  • Hazards may occur due to uneven distribution of electricity as many equipment and appliances run simultaneously in an office. With office inspection in place, all possibilities of such hazards will be eliminated.
  • If inspection points out civil issues, it will help the office authority financially also. Repairing can be done before they become severely damaged and replacement becomes the last option.
  • Though not direct, but indirectly it affects employee satisfaction also. With a safe workplace and an office regularly inspected, employees develop a feeling that the management and authority are concerned about their overall well-being. And you can never deny that satisfied employees would mean improved productivity, achievement of objectives, and increased profitability; can you?

So, there you are. Starting from the exterior environment to work stations, all come under office inspection. When qualified inspectors give your office a visit, they will point you out where attention needs to be given more. A proper office inspection covers the parking lot, storage areas, wet areas (kitchen/ bathroom units), amenities, elevators – in a word, the entire workplace.

Office inspection informs the management about the risks of any level – mild, severe or moderate. You can control the threat and continue your work-life peacefully. As much as you care about the work, give attention to the office also because it is where you spend nine hours of your day, five to six days a week. Office inspection will provide you with multiple benefits. Be proactive and reach out to a trusted home inspection service provider.

Reference links used:
1. https://www.onupkeep.com/learning/maintenance-types/preventive-predictive
2. https://www.isrmag.com/fire-safety-regulations-in-india/

We serve the entire Real Estate Value Chain

We, MACJ – A buyer’s Choice Home Inspections serve all elements of real estate value chain – starting from the developer, broker, buyer, interior designers, owner and owner seller. We do complete health safety check-up of all types of property. And all we would like to tell how our services can help the entire real estate value chain.

Give membership details at regd SROs, MahaRERA tells builders

Mumbai

To ensure more professionalism and avoid frauds, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has mandated promoters (builders) to disclose membership details at its registered self-regulatory organisations (SROs).

The main role of SROs involves to create awareness programmes and encourage its members to comply with the provisions of the Act, rules and regulations, circulars issued by the MahaRERA regularly. A copy of the order is with the Free Press Journal.

Commenting on the development, Manju Yagnik, vice chairperson Nahar Group and vice president NAREDCO (Maharashtra) said, “With this inclusion, the SRO will now be responsible for its members adopting the RERA principles, rules and regulations in a more holistic manner.

The move will beneft consumers in terms of responsiveness and transparency. It will also allow SROs to enable developers to ensure greater professionalism on their part, and build confidence and credibility for their brand.”

Likewise, Parth Mehta, the Paradigm Realty managing director, stated, “It is another wise move to bring parity and professional code of conduct to the real estate practices across the state.

The SROs will encourage members to comply with the RERA Act provisions and implement MahaRERA rules and regulations. Unfair activities practised by developers have shaken the confidence of home-buyers, impacting the sector at large.

The move will restore trust deficit between home-buyers and developers, giving a boost to investment in the real estate sector.”

From December 1, builders applying to MahaRERA for registration of their real estate projects shall have to disclose their membership details with registered SROs.

Currently, the registered SROs with MahaRERA are Maharashtra Chamber of Housing Industry (MCHI), Confederation of Real Estate Developers Association of India (CREDAI), National Real Estate Development Council (NAREDCO).

While any other group, federation of promoters interested to be registered as an SRO with MahaRERA can apply online. They should have at least 500 MahaRERA registered projects of their members. Once approved, the SRO registration will remain valid for five years, according to MahaRERA.

Source: https://www.freepressjournal.in/mumbai/give-membership-details-at-regd-sros-maharera-tells-builders

Not only make your home beautiful But make it healthy too

Detect Issues

Water dripping from cut out at false ceiling around fan position.

Describe Issues

Above false ceiling, water droplets noted at RCC ceiling surface. This was due to water infiltration from above terrace area flooring bed mortar saturated with water content. Water dripping is accelerated during rainy seasons. As seen by IR camera moisture presence noted at false ceiling surface due to absorbed moisture at insulation layer provided between false ceiling and RCC ceiling surface. Water presence noted under synthetic grass mat in open terrace. Synthetic grass mats is not best suited for roof during monsoon as it stops / disturbs rainwater flow. And stops evaporating of moisture from floor surface. So if not rectified, it can lead to further damage in associated/ attached area due to spreading of moisture.

Direct Solutions

We recommend:
1. Removal of mat during monsoon / rains.
2. Affected area ceiling surfaces to be kept under observation and adequate ventilation to be provided for seeped in water to evaporate out.

Benefits of Opting A Ready-to-move-in Home

The reason behind buying a house today is quite different from what it used to be a few decades ago. Our parents and grandparents considered buying or constructing a house when they aspired for a better lifestyle for their families. Securing the future of their children was their main motto. Now, when we look for properties, upgrading the lifestyle is not always the main objective. We either want to buy a house for accommodation or for the investment purpose so that if need arises and when the market conditions are conducive, we can sell it and earn a lump sum amount from it. Generating an income through rent is also on the agenda. Nevertheless, for buyers with an end-use objective, ready-to-move-in flats are a far better choice than under-construction properties.

Before we tell you the exact benefits of ready-to-move-in houses, here’s1 what real estate industry experts have to say about choosing a property for buying.

1. Timely Completion

The biggest advantage of ready-to-move-in flats is there is no scope of delay in completing the project. You do not have to worry “Will it be completed in time?” as in the under-construction projects. Instead, ready flats await you to take possession of them. Unless it is some unavoidable reasons on the developers’ part, you get to avail the satisfaction of owning a house timely.

2. Home Inspection Facilities

With RERA, it will be easier for you to implement a home inspection service and identify whether there is any issues present or not. Now, if any problems do occur, say a leaky pipe or clogged outlet, you can always ask the developer to take care of it. This way a ready-to-move-in flat saves you from receiving unpleasant surprises once you move in. All problems resolved, a home inspection allows you to start living in your house without the stress of discovering a creaky door, an absolutely out-of-place damp spot behind the cistern and so on.

Following are some of the major advantages of home inspection that come with a RERA-registered ready-to-move-in house:

  • It reveals all the masked hazards that may go unnoticed during the first walk-through. You are saved from the hassles that may arise from problems in the wiring, plumbing, damaged window and door parts, wrong sloping, and damp walls and ceilings, etc.
  • A timely rectification saves your money, time, and effort on recurrent future repairs.
  • If the property has damp issues but still matches your other buying criteria, you consider repairing it at the very beginning. This is because seepage, excess moisture, and dampness bring along with them pest problems and diseases such as allergy, asthma, skin rashes, and depression2.
  • The home inspectors enlighten you about the condition of all the components of your new home. So, you know when to replace them and calculate your cost beforehand.
  • You get an opportunity to learn from the home inspectors how to prolong the life of your biggest investment, that is, your home.

A comprehensive home inspection service covers all the indoor and outdoor spaces, plumbing and concealed electrical wiring systems and components, and an in-depth damp assessment. To have all your queries on home inspection answered, click here.

3. Immediate Possession

One of the prime advantages of a ready-to-move-in unit is immediate possession i.e. the absence of any waiting period. So, If you are in an urgent need of an accommodation of your own, a ready-to-move-in flat is the best option. All you have to do is make the payment, go through all the documentation work and move in.

Dhruv Agarwala, Group CEO, PropTiger Realty Pvt. Ltd3, recently said, “Considering 26% of all units set for delivery in the next 15 months are unsold homes, new homebuyers will have plenty of ready-to-move-in options to pick from.”

Hope you are getting an idea how many of them are out there for you? Pick any, get a final walk-through done, and move in immediately!

4. Uncertainty Omitted

When you go for an under-construction real estate, you are full of uncertainties. How big will the rooms be? Will the quality of building materials be good? Will I get a good view from my flat? Will all the amenities the developer is claiming to provide be there? And so on and so forth, right? But when you go for ready-to-move-in flats, it is all there in front of your naked eyes. You get to see what you are investing in because, after all, real estate involves a handsome financial transaction. With all such uncertainties eliminated, you experience a simpler buying process. Wouldn’t you like that as a homebuyer? You’d love it.

5. No Burden of Rent and EMI

While you choose an under-construction project, you have to bear both the rent of your current accommodation and the EMI of the bank loan you took for the chosen accommodation. But if you rest your eyes on ready-to-move-in properties the financial burden will go easy on you. No sooner do you buy the house than you start living in it. Also, if you do not plan to reside in it, you can always give it on rent and earn a handsome amount. Delayed possession will never be an issue.

6. Advantage of No GST

The GST rate was 8% earlier on affordable homes. But from April 1, it has been reduced to one percent only. Big relief, no doubt. But what if you do not have to pay that even that much? Wouldn’t that be great? As you opt for ready-to-move-in property, no GST is applicable for you. GST is only for the under-construction projects. What is better than saving money?

7. Tax Benefits

If you are an income tax payer, you get the benefit of tax deductions while you apply for loans. Section 80C of the Income Tax Act, 1961 enables you to avail about 1.5 lakh INR deductions on home loan principal repayment and up to INR 2 lakh deduction on interest payment. If it’s an under-construction project and the completion is delayed, you may lose tax benefit of 60,000-90,000 INR yearly. Thus, from monetary aspects, ready-to-move-in flats are more advantageous than anything.

A few words of advice for you here-while settling for a ready-to-move-in property, go for new ones instead of old resale flats. Old house already goes through the wear-and-tear of time and weather effects. When you get its possession, the old ones have already crossed at least a few years of its lifetime. But with a new property, the amenities and fixtures are brand new and hence, eliminate the chance of being problematic. Also, the previous owners may not agree to take care of the issues you identify due to financial reasons, etc. Additionally, in a few-years-old property, the development of surroundings also increases the price. You have to be ready for these situations. But of course, a prior home inspection will identify any such issues and if you feel, you may back out from the transaction process also.

A recent survey4 by the Economic Times revealed that about 59% people are keen about buying ready-to-move-in flats. The trend is rising in all metro cities including Kolkata, Mumbai, and Delhi NCR, etc. Now when you have all the advantages laid out in front of you, give it a thought. Of course, be cautious about the legal paper works. With RERA stricter than ever before, you don’t really have to worry about anything adverse. With more and more similar projects coming up, simply start living your life at your own house from whenever you wish.

Reference links used:
1. https://housing.com/news/quick-guide-choosing-ready-move-construction-house/
2. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1994167/
3. https://www.thehindubusinessline.com/news/real-estate/nearly-45-lakh-affordable-homes-to-be-delivered-by-2020-proptiger-report/article29768675.ece
4. https://economictimes.indiatimes.com/wealth/real-estate/why-buying-ready-to-move-in-house-is-better-than-under-construction-property/articleshow/54863705.cms

Explanation video of Home health trivia – I

Today’s video is for spreading awareness related to home health & safety. As our body needs good health, same our home too. So we thought to take one of our contents i.e. Home health trivia. MACJ – A Buyer’s Choice Home Inspections wants to explains trivias related to healthier home in this video. Hopefully this content would be helpful for you.

Madhya Pradesh’s RERA gets judicial teeth, first in the country

Bhopal

Real Estate Regulatory Authority (RERA) of Madhya Pradesh became the first realty regulator in the country to get judicial teeth. Retired district judge, DN Shukla was appointed as first executing officer of RERA on Wednesday.

With the appointment of execution officer it will be legally binding on parties, including realtors and consumers, to follow the directives of the authority.

MP government had amended RERA rules for the purpose and issued a gazette notification facilitating appointment of an executing officer.

In the present set up, if RERA passes an order and the party concerned is unwilling to accept it, RERA moves the civil court. In such a situation, odds are that the matter may get delayed in legal procedures.

Going by RERA statistics, out of the 3,800 complaints it received so far, 2,600 have already been disposed, while 1,200 are pending. Of the total disposed cases, 88% went in favor of allottees, while the remaining 12% went in favour of builders. It means 2,300 went in favor of allottees while 300 to builders.

Of the total 2,300 orders that went against builders, there are about 400 cases in which builders are not complying with RERA orders. The execution officer with powers of both the civil and revenue court would now ensure the compliance of RERA orders.

The appointment required amendments in state RERA rules 27 and 28 that deal with recovery of interest; penalty and compensation; implementing the orders; directions and decisions of the authority. State government did the needful on the proposal of RERA.

The executing officer would take charge in a week. A panel of legal experts comprising senior judges and law secretary conducted interviews after inviting applications and finalised the name of DN Shukla.

Once the executing officer takes charge an allottee in favour of whom order was given by RERA against the builder and the builder is not accepting it, can approach the execution officer in 90 days. The execution fee would also be borne by builders once the order is executed and allottee need to pay only a token sum of Rs 1,000.

RERA chairman Anthony deSa confirmed no other state in country has an executing officer, as of now. He said, it would further strengthen the authority and ensure that its orders are followed without fail.

Source: https://timesofindia.indiatimes.com/city/bhopal/mps-rera-gets-judicial-teeth-first-in-the-country/articleshow/72150219.cms