MahaRERA Simplifies Registration Process
In a significant move, Maharashtra Real Estate Regulatory Authority (MahaRERA) has streamlined the registration process for builders with over 50 housing units. The initiative aims to simplify the administrative procedures, making it more convenient for large-scale developers to comply with regulations
Read The RERA update to know more.
#RERA #MahaRERA #Registration
Centre asks states to follow ‘Gujarat model’ for recovery of dues in case builders defy Rera orders
Amid rising instances of builders not complying with orders passed by RERA, the housing ministry has adviced state government to follow the “Gujarat model”, which has an effective recovery mechanism and appoints officers under the sate laws for retrieving the dues.
Read The RERA update to know more.
#RERA #GujaratModel #Recovery
MahaRERA To Launch An Improved Portal In February
In a move to enhance transparency and efficiency in the real estate sector, the Maharashtra Real Estate Regulatory Authority (MahaRERA) is gearing up to launch its new regulatory portal, MahaRERA Complaint and Regulatory Integrated Technology Implementation (MahaRERA CRITI), in February 2024. The upgraded website aims to simplify the home purchasing process for both homebuyers and developers, offering a more user-friendly experience.
Read The RERA update to know more.
#RERA #MahaRERA #NewPortal
Source: https://timesproperty.com/article/post/maharera-to-launch-improved-portal-in-feb-blid6650
State nominates WBRERA website for E-Governance 2024 Award
The West Bengal Real Estate Regulatory Authority (WBRERA) website has been selected for nomination by the committee headed by the state chief secretary for the national awards for E-Governance 2024. This is being considered a significant achievement given that the website began functioning from January 31, 2023 and is yet to complete a year.
Read The RERA update to know more.
#RERA #WBRERA #EGovernance
‘One project, one MahaRERA no.’ to protect home buyers
MahaRERA has come out with ‘one standalone project, one MahaRERA number’ policy to safeguard the interests of home buyer.
Read The RERA update to know more.
#RERA #MahaRERA #OneProjectOneMahaRERA
Haryana RERA advises buyer to not invest in projects without RERA registration
The Gurgaon bench of Haryana Real Estate Regulatory Authority (HARERA), has advised the real estate buyers to not book properties in projects that are not registered with RERA.
Read The RERA update to know more.
#RERA #HARERA #DoNotBuy
MahaRERA Mandates Certification For Real Estate Agents: Effective January 1, 2024
In a significant move to enhance transparency and professionalism in the real estate sector, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has made it mandatory for real estate agents to possess a valid certificate from the authority to operate. This directive comes into effect from January 1, 2024.
Read The RERA update to know more.
#RERA #MahaRERA #Mandate
Source: https://timesproperty.com/news/post/maharera-mandates-certification-for-real-estate-agents-blid6383
RERA project registrations reach 1,16,117; up 63% since 2021
Maharashtra leads in project registrations with 42,204, followed by Tamil Nadu at 18,915, indicating widespread adoption of RERA regulations across regions.
Read The RERA update to know more.
#RERA #Growth #Regulations
Source: https://www.republicworld.com/business/rera-project-registrations-reach-116117-up-63-since-2021/
The Real Estate (Regulation and Development) Act (RERA), has gained massive traction ever since it was introduced in India, particularly in handling consumer complaints. According to the data from the ministry of housing and urban affairs (MoHUA), as of November 28, 2023, the relevant state authorities resolved up to 1,16,300 cases. Out of this, 38 per cent of the cases were resolved in Uttar Pradesh alone, followed by Haryana (18 per cent) and Maharashtra (13 per cent). The three states cumulatively accounted for nearly 69 per cent of the total disposed cases under RERA in the country.
Registrations for projects and real estate agents under RERA have also been increasing steadily. Almost 1,16,117 projects and 82,755 real estate brokers nationwide were registered under RERA as of November 28, 2023. Approximately, 71,307 projects and 56,177 real estate agents were registered over the same period in 2021. This represents a 63 per cent and 47 per cent growth, respectively, over the previous two years.
“Resolving home buyer concerns is one of the main functions RERA has been demonstrably fulfilling. More than 1.16 lakh consumer complaints have been handled by various state and Union territories. Over the last two years, the pace of project and real estate agent registrations has not slowed down. In fact, over the past two years, project registrations have increased dramatically by 63 per cent. Also, RERA authorities of various states and UTs have resolved over 37,397 consumer complaints in this period. Uttar Pradesh has resolved the highest number of cases. Considering how severely Noida and Greater Noida in UP had been impacted by unscrupulous players, this is noteworthy,” said Anuj Puri, chairman, ANAROCK Group.
Almost all states and UTs have notified rules under RERA, except Nagaland. West Bengal, which earlier enacted its own legislation, was challenged on this by MoHUA before the Supreme Court. In March 2022, the apex court struck down the West Bengal Housing Industry Regulation Act, 2017 (WBHIRA), observing that it overlapped with RERA. Thirty-two states and UTs have set up a real estate regulatory authority since its implementation, and of this at least 5 are interim. Ladakh, Meghalaya, Nagaland and Sikkim are yet to establish RERA.
Twenty-eight states/UTs have set up real estate appellate tribunal for disposing of consumer complaints, including four as interim. Arunachal Pradesh, Jammu and Kashmir, Ladakh, Meghalaya, Mizoram, Nagaland, West Bengal and Sikkim are yet establish theirs. Regulatory authorities of 30 states/UTs have operationalized their websites under RERA provisions. Arunachal Pradesh, and Manipur are under process to operationalise. Twenty-six states/UTs have appointed adjudicating officers, while 10 states/UTs i.e., Arunachal Pradesh, Bihar, Manipur, Meghalaya, Nagaland, Sikkim, Uttarakhand, West Bengal, Jammu and Kashmir, Ladakh are yet to do so.
Arun Kumar, a retired IAS officer and former head of the Directorate General of Civil Aviation (DGCA), has been appointed as the chairperson of the Real Estate Regulatory Authority in Gurugram by the Haryana Government.
The appointment, made under the authority granted by Section 20 of the Real Estate (Regulation and Development) Act, 2016, also includes the appointment of Parneet Singh Sachdev, the Principal Chief Commissioner of Income Tax, as the chairperson of the Real Estate Regulatory Authority in Panchkula, Haryana. The government order states that the appointments will take effect from the dates they assume their respective positions.
According to the order, the tenure for the office of the chairperson for both the Real Estate Regulatory Authority in Gurugram and Panchkula, Haryana, will be five years or until they reach the age of sixty-five, whichever comes earlier.