‘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.
Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) on Friday reviewed the status of the directions passed recently and found that promoters have indulged in non-compliance of its directions besides granting them sufficient time.
During the review, it was found that out of 1,810 promoters, only 666 promoters have uploaded details of director for correspondence. The authority has issued approximately 130 notices to promoters in violation of advertisements rules.
Sanjay Bhoosreddy, chairman, UP-RERA, “The directions had been issued to ensure swift registration, extension along with bringing transparency, responsibility and answerability. We expect that promoters will act as per the directions.”
Hence, UP-RERA has issued an office notice under the provisions of section-37 of the RERA Act to promoters of registered projects and expressed its displeasure about non-execution of passed direction in a time bound manner.
Also, the authority has instructed to ensure the execution of all directions without further delay. According to the provisions of the RERA Act, non-compliance of passed directions from RERA is a punishable act and promoters will be responsible for this. The authority, using its powers under section 63 of the RERA Act, may take strict action and impose appropriate amount of penalty.
In previous months, UP-RERA had issued directions about promotion and advertisements of registered and unregistered projects and mentioning RERA registration number and portal prominently, uploading coordinates of a designated director of organization for correspondence with RERA, update and correct the filled details of projects on the RERA portal, maintain active telephone numbers for consumers and appointing knowledgeable person to answer them and activate helpline numbers for mega projects.
Apart from this, the directions include providing complete details in project registration applications, all three bank accounts with standing instructions to banks to speed up project registration process, utilize model agreement for sale uploaded on the portal for agreement with consumers, uploading all QPRs for approval of extension applications, etc.
The Gujarat Real Estate Regulatory Authority (GujRERA) will introduce its RERA 2.0 portal on November 24. The authority had discontinued the use of its older portal on November 16. Sources said the new portal is designed in accordance with the RERA Act and GujRERA rules and will ease business for the real estate sector. RERA 2.0 will make the processes of registration, alteration and extension paperless and faceless. GujRERA sources said they received several representations from stakeholders about changes needed on the old portal, which was in place for more than five years. “The older portal required some details online and others offline. Processes under the new portal will be fully online. On the older portal, the due diligence for town planning, finance and legal aspects were done one after another, while the new portal will carry out these processes simultaneously so the registration process will get quicker.”
The sources said the new portal will have data filling instead of the uploading of PDFs required on the older portal. “This will ensure that if there is an error in the data, it can be rectified immediately. Project alteration and extension applications were also physical thus far. These will be online with the new portal, so developers from other cities do not need to come to Gandhinagar for them,” said a GujRERA officer on condition of anonymity.
“GujRERA had introduced a revised version of its portal on March 14, 2022, and some 350 registrations were done on that. However, there were certain issues so the revised portal will go live from November 24,” a GujRERA source said.
Dhruv Patel, president of Credai Ahmedabad, said, “There were some technical issues on the older portal which will be resolved in the new one. It will ensure ease of doing business for the real estate industry.”
Source: https://timesofindia.indiatimes.com/city/ahmedabad/rera-2-0-portal/articleshow/105400489.cms
With the third batch of real estate agents gearing to appear for the online examination conducted by Maharashtra Real Estate Regulatory Authority (MahaRERA) on November 22, Mumbai region is expected to get a steady flow of MahaRERA-certified agents. There are 5592 candidates who have successfully completed the prerequisite preliminary training thus making them eligible for the online examination to be conducted by MahaRERA at 19 centres across the state.
These agents play a crucial role as intermediaries between home buyers and developers, serving as the primary source of information for potential clients. Recognising this pivotal role, MahaRERA emphasises the importance of agents being well-versed in the key provisions of the RERA Act.
To date, 3217 candidates have successfully passed the examination, which was conducted twice this year. It is noteworthy that approximately 45,000 agents were initially registered in the state, with the current active workforce standing at 32,000. The shortfall arises from 13,000 agents who have not renewed their certification.
“RERA authorities have made it compulsory for real estate agents from January 2023 to pass this exam and this will be the third time in the year RERA is conducting the exam. Agents form the link between buyers and sellers so it will be very much helpful for the buyers if all agents are on the same page with respect to the rules according to RERA Act,” said an official from MahaRERA office at Bandra.
The training programme focuses on ensuring uniformity, consistency and clarity in providing essential information related to regulatory provisions, such as the agreement for sale, allotment letter issued after registration of the house, carpet area and defect liability period, among others. This knowledge is crucial as it forms the basis on which consumers make informed decisions when purchasing a home.
Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has directed promoters to upload latest Quarterly Progress Report (QPR) on the portal to avail benefits of extension of project registration. Uploading QPR periodically on portal is one of the key responsibilities of the promoter that enables the consumers of real estate sector to access progress of the project on regular intervals. Pramod Kumar Upadhyay, secretary, UP-RERA said, “Promoters must ensure their responsibility as per the RERA Act which is important for the consumers. Updating QPR on portal is one of them which are completely connected with project completion. All promoters must focus on this part and assign knowledgeable person for this to ensure its implementation and avoid penalty.”
While reviewing applications of extension of registered projects, the Regulatory Authority noticed that promoters have not uploaded QPR of many quarters. Apart from this, promoters of 732 projects have not filled targets and promoters of 356 projects have not updated targets on the portal. Hence, UP-RERA has imposed penalty of Rs 2 lakh per project on 732 projects and Rs 1 lakh per project on 356 projects. The authority has advised promoters fill details of QPR autiously.
They have to ensure that QPRs of past quarters have been filled before filling latest. In case of due QPR of past quarters, they have to pay delay charges. Then only they will be allowed to fill QPR of current quarter. Further, only after updating all QPRs on the portal, the promoters will be allowed for extension of project registration. The projects having completion certificate (CC) and being uploaded on the portal, need to pay delay charges and update QPR till the time of CC obtained.