Realtors can’t lure investors by promising ‘assured returns’

RERA Haryana

Terming such schemes as “fraud”, the authority said SEBI has already declared “assured returns” as illegal Ponzi schemes.

GURUGRAM: Haryana Real Estate Regulatory Authority (H-Rera) is going to issue notices to developers who are trying to lure people to invest in their residential and commercial projects, promising “assured returns”.

To lure people to invest in their real estate projects, many developers are offering “assured returns” schemes, in which investors in residential projects are assured of a fixed rental income, while in commercial projects, those assured returns go up to as much as 12%.

“It has come to our notice that many real estate firms are trying to lure investors through “assured returns” schemes, which is basically a financial scam promising very high returns,” said Gurugram H-Rera chairman K K Khandelwal, adding the body is preparing a list of such companies for criminal action by the authority.


Customer is the King: Maharera, Mumbai’s Landmark Judgement on (Refund of Amount with Interest for Delayed Possession)

MahaRERA Updates

In, Avinash Saraf versus Runwal Homes Private Limited case, the landmark judgement given by MAHARERA, Mumbai, having complaint number 32, Dated 13th October 2017. Final judgement is given by Honorable Shri B. D. KAPADNIS. The complainants contended that they have paid 97% of total consideration of the flat. The date of possession of the flat was August, 2016, as per agreement of sale executed in November 2014, but the respondent failed to give the Possession in time.

And hence the complainant demanded the amount of consideration with interest @ 21% p.a. from the respondent with compensation for amount expended towards stamp duty and registration charges.

The respondent contended that MAHARERA has come into effect from 1st May 2017. Therefore MAHARERA has no jurisdiction entertain this complaint. The date of possession was delayed due to delay in getting permission for constructing parking from MCGM (Municipal Corporation of Greater Mumbai), for the reasons beyond control of the respondent.

Now point for consideration before The Honorable judge was whether the complainant is entitled to get back the amount paid to respondent with interest and compensation? He answered affirmatively with the following reasons.

The cause of action for claiming possession after the lapse of agreed date of possession becomes recurring course of action. Therefore MAHARERA has the jurisdiction under section 79 of the Act. The reasons given by respondent for delay in possession is also not acceptable, since the agreement was executed in November 2014 it means the respondent was aware of the time for giving possession.

Finally honorable judge has delivered the following judgment.

To refund entire amount paid to the respondent till date with interest and compensation for amount paid towards stamp duty and registration charges. Rate of interest upto the date of 30th April 2017 was decided @ 9% per annum. And from 1st May 2017 the rate of interest was decided to be the interest at SBI’s highest marginal cost of lending rate + 2% p.a. till the date of final payment to the complainant.

The complainant got finally Rs. 1,74,17,986/- + Rs.8,86,800/- towards stamp duty registration charges + Rs. 11,00,000/- towards interest till 30th April 2017 + interest at SBI marginal cost of lending rate plus 2% p.a. till the date of final payment to the complainant.


KRERA not yet Fully Functional

RERA Kerala

  • The Government of Kerala notified the Real Estate (Regulation and Development) Act, 2015 on 03/02/2016. However it shall be deemed to have come into force on the 4th Day of May, 2015.
  • Sri. S. Ajayakumar (Retired Chief Town Planner), is appointed as the first Chairman of Kerala Real Estate Regulatory Authority.
  • The office space for Real Estate Regulatory Authority allocated at the 5th floor of Swaraj Bhawan, Nanthancode, Thiruvananthapuram 695 003.
  • Website Launched (

RERA Madhya Pradesh fully Operational

RERA Madhya Pradesh

  • The State Govt notified the Madhya Pradesh Real Estate (Regulation and Development) Rules, 2017 on 22nd October, 2016.
  • Mr. Anthony de Sa, I.A.S. (Retd.) appointed as Chairman.
  • Launch of RERA Website & Web Application at 12:00 Noon on May 1, 2017 (
  • The office of Madhya Pradesh Real Estate Regulatory Authority is situated at RERA Bhavan, Arera Hills, Main Road No. – 1, Bhopal – 462011.

For Goans the wait for RERA is Over


  • Central Government is the appropriate Government under the Act for the State of Goa, Central Govt. has designated Secretary Housing, Goa Administration as the Regulatory Authority and Value Added Tax Tribunal, State of Goa as the Appellate Tribunal respectively.
  • Shri. Sudhir Mahajan, IAS Secretary (UD) Government of Goa is designated as the Regulatory Authority under the Act until the establishment of Real Estate Regulatory Authority.
  • The office of the Goa Real Estate Regulatory Authority is situated at SPACES, Plot No. 40, Block No. 101, 1st Floor, EDC, Patto Plaza, Panaji – Goa.
  • Website Launched on 16th Jan, 2018 (

MahaRERA directs promoters to upload quality certificate from Dec 1

MahaRERA Updates

  • PUNE: Promoters will have to submit “quality assurance certificate” issued by their engineers on the MahaRERA website from December 1.
  • The move follows complaints of poor-quality work or material used in various projects. “The engineer or the site supervisor would have to issue a certificate, like an affidavit, where they would have to state that the work is being carried out in accordance with the development permission and as per the approved plan. Material testing and workmanship will be part of the certification,” MahaRERA secretary Vasant Prabhu stated in a circular issued early this week.
  • MahaRERA officials said the promoters who are yet to register their projects should submit the certificate with other details at the time of registration. “The promoters who have already registered should upload the certificate at the earliest on the authority’s portal,” they added.
  • As a part of the certification process, the engineer will keep a check on the basic material used, including cement, bricks, concrete and steel, besides the workmanship quality as well, the officials said.


Karnataka RERA has taken steps forward to implement the Rules in the State

RERA Karnataka

  • Under the RERA Act, the Karnataka Real Estate Regulation and Development Rules, 2017 was approved by Government of Karnataka and notified on July 10, 2017.
  • Government of Karnataka appoints Principal Secretary to Government of Karnataka, Department of Housing Dr. J. Ravishankar IAS as the Interim Authority.
  • Government of Karnataka appoints Karnataka Appellate Tribunal as Interim Appellate Tribunal.
  • The office of the Real Estate Regulatory Authority is situated at 2nd floor, Silver Jubli Block, Unity Building, CSI Compound 3rd Cross, Misson Road Bengaluru, Karnataka – 560027.
  • Website launched on 24th July, 2017 (

Real Estate Regulatory Authority, Punjab strives to fulfill the objectives of RERA in full measure

RERA Punjab

  • The Punjab Government notified the Real Estate (Regulation and Development) Rules, 2017 on 08/06/2017.
  • The Real Estate Regulatory Authority, Punjab was established on 10/08/2017 upon the joining of Chairperson with two full-time Members.
  • Shri N. Singh Kang has been appointed as the Chairperson of Real Estate Regulatory Authority, Punjab on August, 2017.
  • The Office of the Real Estate Regulatory Authority, Punjab is situated at First Floor, Block-B, Plot No.-3, Sector-18A, (NearGovt.Press UT), Madhya Marg, Chandigarh – 160018.
  • Website Launched (

Tamil Nadu RERA Aims to protect the Buyers and help Investment in Real Estate Sector

RERA Tamil Nadu

  • The Tamil Nadu Government, Housing & Urban Development Department, dated 22.06.2017 has approved the Tamil Nadu Real Estate (Regulation & Development) Rules, 2017 to carry out the provisions of Real Estate (Regulation & Development) Act, 2016.
  • The office of the Authority is functioning in Door No.1A, 1st Floor, Gandhi Irwin Bridge Road, Egmore, Chennai – 600008.
  • Website Launched (

RERA Rajasthan is fully prepared for the Swing

RERA Rajasthan

  • The State Government, vide its Order dated 17.02.2017 designated the Additional Chief Secretary, Urban Development and Housing Department as the Real State Regulatory Authority until the establishment of a Real Estate Regulatory Authority (Rajasthan RERA). Similarly the State Government  vide Notification dated 15.05.2017 has designated the Food Safety Appellate Tribunal as the Real Estate Appellate Tribunal until the establishment of Real Estate Appellate Tribunal under the Act.
  • The office of the Real Estate Regulatory Authority is situated at Nagar Niyojan Bhawan Near JDA, J.L.N. Marg Jaipur, PIN-302015.
  • The office of the Appellate Tribunal is situated at Room No.28, Swasthya Bhawan Behind Secretariat (For Appeal & Complaint), C-Scheme Jaipur, PIN- 302005.
  • Website Launched on 1st June, 2017 (visit: