In a first, MahaRERA brings in QR codes to help Homebuyers get Transparent Information

Homebuyers can now get details such as the progress of the construction, promoter’s name, hurdles in completion of a project, to registration date among other crucial details by just scanning a QR code on project registration certificates.

In a first-of-its-kind initiative, the Maharashtra Real Estate Regulatory Authority (MahaRERA) started a QR-code-based technological service that will help homebuyers get transparent information in a single scan.

Last week, MahaRERA issued the first QR-code-based project registration certificate to the Gera Planet of Joy Project in Wagholi, Pune. All newly registered projects will carry the QR code. The authority will also install the QR code on older project registration certificates in a phased manner.

Homebuyers can simply scan this QR code on project registration certificates visible on MahaRERA portal and the scan will generate relevant information about the project, including the name of the project, the promoter’s name and details, the completion date, the registration date, the statutory approvals received by the project etc.

The QR-code scan will also provide critical information to buyers like any changes in the approved plan of the project, and any extensions given to the project’s validity, any recovery warrants issued against the project. Homebuyers will get to know if there are any problems with the finances and timely delivery of the project using the information on complaints and warrants issued against the project.

“Now, homebuyers can also get crucial information under Form 5. Under RERA norms, it is mandatory for developers to provide updated information about the construction progress and financial updates every quarter and half-yearly. Home buyers will be able to access this information by simply opening the registration certificates of newly registered projects and scanning the QR code,” said a MahaRERA official, adding that the registration certificates for older projects will also be updated with the QR-code over a period of time.

Over 40,000 projects are presently registered with MahaRERA out of which 11,099 are completed. Over 20,783 complaints have been filed, and 14,049 orders have been issued on these complaints.

Stealing a march over other states, MahaRERA was the only state RERA authority portal which went live on May 1, 2017, the day Real Estate (Regulation and Development) Act 2016 came into existence. It is also the first to start the Conciliation Forum, an alternative grievance redressal mechanism where home buyers and developers can sit across the table with MahaRERA-appointed conciliators and settle complaints out of court. It was the first authority to geo-tag projects with information about social infrastructure around a registered project.

Source: https://www.hindustantimes.com/cities/mumbai-news/in-a-first-maharera-brings-in-qr-codes-to-help-homebuyers-get-transparent-info-101679942257557.html

Smaller properties to come under West Bengal RERA guidelines

Smaller residential developments may be brought under the purview of the West Bengal Real Estate Regulatory Authority, or a separate law may be enacted to govern them.

The Chief Minister, Mamata Banerjee, has asked the housing department to consider the proposal so that homebuyers who are not currently covered by west bengal rera can also get some protection.

Susil Mohta, president of the Confederation of Real Estate Developers’ Association of India (West Bengal), raised the issue of small-time local promoters bringing disrepute to the trade by defrauding homebuyers who had no protection, unlike larger developments covered by West Bengal RERA, during the interactive sessions.

“RERA is applicable to any project on 7 cottah or a minimum of eight units. Projects that are smaller than this, and there are many such developments in every neighbourhood, there is no regulation to stop the builders from not meeting their commitments. Hence, there are instances of developers handing over buildings without a completion certificate (CC), or selling the same unit to more than one buyer. We wanted the government to step in and hand given a draft proposal to the housing department on March 2 and raised the issue at the meeting with the CM,” Mr. Mohta said.

In a timely manner, CM Miss Banerjee addressed the issue and said she had also heard multiple reports of people being harassed by part-time promoters. Aroop Biswas, the housing minister, has been asked to take steps to protect homeowners’ rights and prevent promoter fraud.

CREDAI has proposed broadening the application of the law to include construction projects on lots greater than three cottah. Hence, projects with four to seven flats would be subject to the guidelines.

“The state government cannot relax the RERA guidelines but it can make it more stringent. While most of the large developers, including those affiliated with CREDAI, are compliant with regulations, the smaller developers who are not accountable tend to flout rules and bring a bad name to the industry,” Mr. Mohta added.

Source: https://www.constructionworld.in/latest-construction-news/real-estate-news/smaller-properties-to-come-under-west-bengal-rera-guidelines–/39743

Mumbai sees over 3,000 property registrations in 11 days

As many as 3,244 property registrations took place in Mumbai on March 11 alone, generating Rs 249.42 crore in stamp duty and registration fees. The Maharashtra Department of Registration and Stamps informed that 46,811 conveyance deeds were also recorded on the day and a revenue of Rs 877.79 crore was generated.

Currently, the stamp duty fee is 6 per cent and registration charge is 1 per cent, excluding other taxes like metro cess and local body tax. Women homebuyers get a rebate of 1 per cent in stamp duty.
Real estate experts say that property registrations will do well in the high-budget luxury section as the tax on capital gains will come into effect from April. February also saw the highest revenue collection in Mumbai.

One of the major reasons behind the rise in sales in high-budget homes in Mumbai and other cities is believed to be Union government’s recent move to limit capital gains tax deductions to Rs 10 crore.
MahaRERA, the real estate regulatory authority, is also raising awareness among the homebuyers on how to save their money from getting stuck in any stressed project. It advised the property buyers to purchase only RERA-registered properties after a detailed background check.

MahaRERA also issued a list of dos and don’ts for real estate developers to update all such information in the public domain.

Source: https://www.timesnownews.com/mumbai/mumbai-sees-over-3000-property-registrations-in-11-days-article-98586266

CREDAI advises home buyers to purchase only in RERA-registered projects

The CREDAI (Confederation of Real Estate Developers’ Associations of India) has asked the Telangana Government to keep tabs on the extremely unhealthy and illegal practices by some real-estate players that are luring gullible customers into buying spaces in unviable projects.

Asking the Government to strengthen the RERA (Real Estate Regulatory Authority) to curb these practices by initiating stringent punishment against the players that are cheating the people.

“Some real-estate operators and some others without having any experience in the business are coming out with attractive schemes and offering to sell undivided share of land even before securing approvals,” P Rama Krishna Rao, President of CREDAI Hyderabad, has said.

The leaders of CREDAI have gathered here on Friday to caution the public about the unhealthy marketing strategies of some realestate players.

“They are selling such products at a nominal and discounted price to lure innocent home-buyers and investors. The cost at which they are selling the properties is not sufficient to cover the cost of construction,” he said.

He alleged that the proceeds were not being on the projects. “Sometimes the projects do not get launched or get delayed indefinitely due to many legal and statutory issues, putting the purchaser at a huge risk,” he said.

Ch Ramchandra Reddy, Chairman of CREDAI Telangana, said that the realestate market in the State continued to be resilient and robust post the Covid-19 waves unlike other cities in the country.

“The developers should not sell plots or flats to prospective purchasers without getting RERA registration. Purchases made in projects without RERA registration are risky for the buyer,” he said.

Source: https://www.thehindubusinessline.com/news/real-estate/credai-advises-home-buyers-to-purchase-only-in-rera-registered-projects/article37704417.ece

Govt asks local bodies to upload construction permissions to their websites, link them with MahaRERA

To prevent fraudulent practices on the part of builders and developers, the Urban Development Department of the Maharashtra government Thursday directed all local bodies to upload permissions granted for commencement of construction and occupancy to builders for new and upcoming residential and commercial projects on their website and integrate them with the Maharashtra Real Estate Regulatory Authority (MahaRERA) before March 31, 2023.

These permissions are in the form of Commencement Certificates (CCs) that allow builders to start construction of a building and Occupancy Certificates (OCs) permitting residents to move into the building once the construction is complete.

In case the local bodies do not have websites for this purpose, the Urban Development department directed them to design and activate the websites and integrate them with MahaRERA before March 31, 2023. Meanwhile, all local bodies have been directed to email the permissions to MahaRERA. The local bodies will have to communicate updates in the permissions to RERA each time. A government resolution to the effect was issued by the Urban Development department on Thursday.

“In case of Mumbai, Brihanmumbai Municipal Corporation (BMC) already has a mechanism to publish these permissions online and integrate it with RERA,” an official said.

Last year, it had come to light that builders in Kalyan Dombivali constructed buildings without requisite permissions from the local bodies and sold apartments in these buildings by creating fraudulent documents of permission. A senior official said, “These documents are submitted to RERA with a self-declaration from the builder, who submits an affidavit. However, until now, there was no way for RERA to verify if these documents are original. If a fraudulent document is submitted with the signature of the concerned authority, it is taken as an original permission.”

“RERA wrote to the Urban Development department last year requesting it to develop a mechanism where documents can be verified, following which these provisions were made,” the official said.

Source: https://indianexpress.com/article/cities/mumbai/govt-local-bodies-construction-permissions-websites-maharera-8464551/

MahaRERA brings transparency into Real Estate Sector

The aim of the MahaRERA mechanism is to bring transparency in the sector to help the homebuyer, its chairperson Ajoy Mehta said on Saturday.

He was speaking at a function organized by National Real Estate Development Council (NAREDCO) on ‘RERA Updates and Insights’ in Navi Mumbai.

“Only when the real estate industry survives will the homebuyer gain. We will hold workshops organised by MahaRERA and NAREDCO to help developers gain clarity over compliances,” he said.

While builder and NAREDCO vice-chairperson Niranjan Hiranandani said MahaRERA must speed up the process of giving approvals, Sanjay Dutt of Tata Realty and Infrastructure said institutional funds were flowing into the real estate industry at a good pace.

The industry is likely to attract investments of Rs 3 lakh crore over the next three to four years, Dutt claimed.

The Real Estate Regulatory Authority has helped the real estate sector gain respect due to regulations and professionalism, including the option for exit through deregistration of a project, NAREDCO president Rajan Bandelkar said.

Meanwhile, Sanjay Deshmukh, MahaRera nodal officer for lapsed projects, urged developers to improve the quality of the uploaded data.

“Around 75-80 per cent of participants were falling short on quarterly filing timelines,” he said. PTI COR BNM BNM

Source: https://theprint.in/india/maharera-brings-transparency-into-real-estate-sector/1381736/

MahaRERA offers exit option to realtors, but with conditions

The Maharashtra Real Estate Regulatory Authority (MahaRERA) on Friday issued an order laying down conditions that include protecting the rights of homebuyers.

The developers can now deregister their real estate projects themselves.

MahaRERA Secretary Dr Vasant Prabhu, in the order, cited instances where promoters who have registered their projects are unable to commence and complete the construction, or have commenced the construction but are not in a position to complete the construction.

The reasons could be lack of funds, economically unviable projects, litigations, inter se disputes, family disputes, change in planning, or government notifications. Keeping these projects registered with the authority is not beneficial for stakeholders, the regulatory body has said.

MahaRERA’s conditions for de-registration

Therefore, MahaRERA has now set out conditions for deregistration. Only projects where not a single booking has been received will be considered. In case there are purchasers, the onus to settle the rights of such allottees will be on the affected developer.

Additionally, if a part of the project getting deregistered is affecting the rights of the remaining project, two-third consent from allottees is mandatory while submitting the deregistration application. Aggrieved persons other than the builder can move MahaRERA by lodging a complaint.

Mixed reactions from real estate industry

In the real estate industry, this order has been received with mixed reactions. While realtors have welcomed it as it provides them an exit, the buyers are somewhat unhappy. Purchasers said there is a need to lay down more stringent conditions as the developers are known to not just keep home purchasers but also MahaRERA in the dark by not updating the status of the project. Moreover, the orders passed by the regulator are barely honoured by the real estate fraternity, earning MahaRERA the monicker of a toothless tiger.

Source: https://www.freepressjournal.in/mumbai/mumbai-maharera-offers-exit-option-to-realtors-but-with-conditions

In a first MahaRERA establishes counselling set up for Homebuyers, Developers

In a first, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has established a counselling set up at its Bandra Kurla Complex headquarters to help both homebuyers and developers understand the modalities and operations of the authority.

The move is expected to help homebuyers get better support from the regulator and improve compliance by developers. Through this set-up, homebuyers can resolve their queries regarding the complaint mechanism, while the developer will also be able to clarify several doubts.

The counsellor will have an office on the fourth floor of the MahaRERA office. Homebuyers facing any issues in their projects may want information about the process to seek relief under RERA provisions. The counsellor will be able to explain how to file online complaints, how to monitor the complaints on our portal etc. What is the difference between the conciliation forum which resolves grievances out of court and filing formal complaints etc.

Similarly, developers may also need advice on various aspects as registration of their ongoing project is mandatory. There are multiple forms and compliances. Developers can also seek advice on how to update the information of their ongoing project every quarter as required by the Act, how to manage the money allocated for the project, the statutory audits required etc.

Earlier, the state housing regulator had appointed a nodal officer to monitor the recovery warrants issued for refunds by the Authority. The authority had written to 13 district collectors to provide special assistance to execute these warrants, and the move resulted in the recovery of Rs 100 crore of refund money from errant developers. Similarly, the nodal officer has also issued show cause notices to over 19,000 projects registered with MahaRERA to ensure that the companies update the information about the progress of their projects every quarter as mandated by RERA.

Source: https://www.rprealtyplus.com/news-views/in-a-first-maharera-establishes-counselling-set-up-for-homebuyers-developers-109477.html

UP RERA addresses 88 Percent Complaints

Uttar Pradesh RERA has achieved 88 per cent success in solving the grievances of the people since its inception in 2017. From May 1, 2017 to December 2022, more than 47,000 complaints were registered and about 42,000 complaints have been disposed of. Thus, a total of 88.14 per cent grievances of consumers have been successfully redressed.

Besides, about 12,800 requests of order execution have been received in which compliance of final order was successfully executed 9,900 requests, which is about 77 per cent. This was disclosed in a press statement issued by the RERA here on Friday.

In 2021, about 8,600 complaints were registered and about 8,400 were disposed of. In 2020, about 8890 complaints were registered and about 8670 complaints were disposed of. In 2019, about 12600 complaints were registered and about 12800 were disposed off.

Similarly, in the year 2018, about 8,300 complaints were registered and disposal was done in about 2,500 cases. However, only about 110 complaints were disposed of against 1,650 registered in 2017.

The highest numbers of complaints have been registered against 46,400 promoters, while about 500 complaints have been registered against allottees and about 200 complaints against agents.

As many as 35,900 complaints have been registered in eight districts of NCR, almost 76 per cent of total complaints, and 31,800 have been successfully disposed of.

Gautam Buddha Nagar in NCR and Lucknow district in non-NCR are at the first and second positions respectively with 28,450 and 8,600 complaints, followed by Ghaziabad (6,470), Varanasi (850) and Meerut (800).

Source: https://www.thestatesman.com/india/up-rera-addresses-88-pc-complaints-1503150452.html

Majority of Delhi realtors are avoiding RERA registrations of the projects

Since Delhi is primarily a low-rise building market, local builders renovate the property and sell the floors independently for as much as Rs 30 crore each.

Earlier, Section 3(2) (a) of RERA provided for an exemption from registration if the land proposed to be developed was less than 500 square meters or the number of apartments proposed to be developed did not exceed eight. Many developers in posh colonies in Delhi have been avoiding registrations using this loophole.

BS Vohra, a right-to-information activist, said that the situation remains the same after the order as there is no one to look over the construction activity. Even when the plot size exceeds 500 square meters, some under-construction buildings in West-end, Vasant Vihar, Anand Lok, and Panchsheel Park are being developed without RERA registration.

Vohra said that the RERA should ensure that the rule is being followed after making it mandatory. The RERA chief could not be reached for comment.

The entire city of Delhi has registered only 81 projects, which is the lowest number in the country. Several builders in South Delhi with plots ranging from 800-1,000 square meters have not registered their projects with the RERA.

The convenor of the CII-Delhi sub-committee on real estate, urban development, and infrastructure, Harsh V Bansal said, “We need to push for organized development in Delhi. There are no major projects in Delhi while Noida and Gurgaon are benefiting from organized development”.

The Delhi RERA had threatened to impose a fine that could be up to 10% of the estimated cost of the real estate project if it was not compliant with RERA guidelines.

The registration procedure should be transparent with regard to the funds received from the purchasers, the completion and conveyance of the property in favor of the allottees, and the assurance that the project has received the required approvals and sanctions.

Many properties in Delhi’s posh colonies are worth Rs 20-100 crore. Older people and NRIs make up the majority of the previous owners who either sold or worked with developers.

The RERA had said in its order that the authority also suggests the general public to avoid investing in any residential or commercial real estate project.

Source: https://www.ipropunited.com/news/majority-of-delhi-realtors-are-avoiding-rera-registrations-of-the-projects/