Rajasthan-RERA registers 280 new projects in first half of 2022

The Rajasthan Real Estate Regulatory Authority (Raj- RERA) has registered 280 new projects in the first half of 2022 which is 89% increase in new project registration in comparison to 2021 (January to July).

About 58% of these applications belong to state capital Jaipur and remaining belong to other urban areas of the state. In first half of the 2021, total of 148 applications for registration of projects were received. This year, so far, the Raj-RERA has registered 280 projects.

An official said, “Majority of projects registered 82% are residential including plotting. As demand for the independent houses has increased after Covid-19, the industry is witnessing a steady growth.”

Kota, Udaipur, Alwar and Jodhpur are other top cities in new project registration. Apart from these, applications to register projects were received from Sriganganagar, Sikar, Chittorgarh, Ajmer, Barmer and other part of the state.

“Registration of projects from smaller cities indicates upward trend of group housing and rising impact of real estate regulation among promoters,” added official.

As per the rule, the developers under the mandatory provision of RERA Act 2016 have to register ongoing projects, which are being construction on land up to or more than 500 square metres and total number of units are eight or above.

The promoters are required to make an application to the authority for registration. Raj-RERA reviews the projects and issues necessary guidelines to promoters to ensure time- bound construction in the interest of home buyers. Once the approved information is uploaded on the website, it is not possible to change the original plan without prior approval of the RERA.

A RERA official said, “Under RERA Act, it is mandatory for the promoters to register their real estate project to sell, advertise, market, book or purchase. As consumers and builders are aware about the fact, more registrations are happening. Now, buyers refuse to buy projects without RERA registration. In past, the authority also issued notices to the developers who were violating the norms.”

Source: https://timesofindia.indiatimes.com/city/jaipur/raj-rera-registers-280-new-projects-in-first-half-of-2022/articleshow/93260070.cms

In a first, the Real Estate Regulatory Authority (RERA), Rajasthan appointed a third party to complete the construction of 'Hyde Park' project situated behind dalda factory in durgapura after revoking the registration of the promoter.

Rajasthan: RERA appoints third party to complete pending project

In a first, the Real Estate Regulatory Authority (RERA), Rajasthan, has appointed a third party to complete the construction of ‘Hyde Park’ project situated behind Dalda factory in Durgapura after revoking the registration of the promoter.

The decision was taken on a petition filed by Hyde Park Flat Owners Association.

As per the orders, the new developer will commence construction within 30 days from the receipt of installments from the members of the complainant association. The apartments will have to be completed within two years from the start of work.

The order reads, “The construction and expenses from the escrow bank account will be monitored by a project management consultant, which will be approved by the authority. The progress of construction and the details of the bank account would be submitted to the authority on a monthly basis before the 10th day of each month.”

The project Hyde Park was launched in 2014 by the Adarsh Buildestate Limited (ABL) as developer promoter. The construction was started by the promoter respondent, which proceeded at a good pace till 2016, but slowed down during 2017 and came to a stop in 2018.

As per the development agreement, the project was to be developed into two stages: Phase I consisting of 593 flats and Phase ll consisting of 296 flats. The entire project was to be completed within 48 months commencing from April 1, 2013. However, the developer miserably failed to complete first phase.

Phase I was later revised and it was proposed to construct 265 flats. Now, RERA has directed to complete Phase 1 after appointing third party as 150 odd allottees booked their flats with the promoter on the promise that they would be handed over the possession of their apartments by March 3, 2017, which was later extended by till March 31, 2021.

The remaining 115 will be booked and sold by the third party to meet the construction expense.

“The new developer, landowners and the complainant association will enter into a tripartite agreement wherein the rights and responsibilities and obligations of all the three parties in respect of completion of revised Phase I shall be recorded,” reads the order.

Source: https://timesofindia.indiatimes.com/city/jaipur/rera-appoints-3rd-party-to-complete-pending-project/articleshow/84156072.cms

With the second Covid wave derailing the real estate industries again this year, many developers in the state have availed one year special extension from RERA, Rajasthan.

350 developers avail RERA’s 1-yr deadline extension offer

With the second Covid wave derailing the real estate industry again this year, many developers in the state have availed the one-year special extension from the Real Estate Regulatory Authority, Rajasthan (RERA-R).

According to a RERA official, over 350 promoters who failed to adhere to self-set deadlines for various reasons, including the pandemic, had applied online and taken extension.

A source said, “On March 9, the authority had allowed the promoters to avail one year special extension on account of pandemic, if they apply online for such extension till March 31, 2021. A special online window was created for this purpose. Following this, more than 350 developers in the state applied for extension after depositing standard fee.”

Last year in May, on the ground of force majeure, extension of 12 months was granted to the real estate projects expiring on or after March 19, 2020, after lockdown was imposed in the state owing to the first wave. Those projects that had lapsed before March 19, 2020 were also allowed the benefit of the extension if the promoter first applies for usual extension and pay extension fee, standard fee and penalty. “As normalcy did not return after last year, majority who sought extension are same developers, who were provided relief last year. Though, there are few defaulters from Bhiwadi who neither completed the project nor applied for extension,” said a source.

Earlier, after witnessing the second wave, the developers associations also demanded an extension from the authority. The developers reasoned, instalments have been deferred by the government for a very long period which has resulted in poor recovery and reduced revenue collection.

Many claimed there is also a cascading effect of the first wave, which has hampered recovery in the real estate sector in the last six months. “The vicious cycle of recession had impacted the economy adversely. This has resulted in reduction in demand, production, employment, income. Many allottees are facing difficulty in making payment of EMI. Also, there is reduction in buying capacity and frequent cancellations,” said a promoter.

Source: https://timesofindia.indiatimes.com/city/jaipur/350-developers-avail-reras-1-yr-deadline-extension-offer/articleshow/82987679.cms

Rajasthan RERA serves notices to nine developers for violations

JAIPUR

After nearly one-and-a-half year, the Real Estate Regulatory Authority (RERA), Rajasthan, on Wednesday once again swung into action and issued notices to nine developers who were allegedly violating the norms.

The authority cancelled the registration of one project, while it issued show-cause notices to developers for advertising their projects without getting registered under the RERA (Rajasthan).

An official source said, “One developer who had proposed a project in Pratap Nagar near NRI colony has allegedly claimed that the land belongs to him. For the same, an affidavit was submitted, while registering the project at RERA. However, a complaint was received against the developer and during examination, it was proved that the land doesn’t belong to him and RERA cancelled the registration.”

To others notices were issued also under Section 35(1) of the RERA Act 2016 to builders for advertisement of project without prior registration. The authority has also directed these developers to stop such illegal actions immediately and explain in writing within seven days. “The developers violated the law as the advertisement, market, book, sale or offer for sale or invite person to purchase in any manner, any plot, apartment or building in the real estate project prior to registration of the sale under the said Act is prohibited,” said the source.

The authorities would impose penalty if these developers are found guilty. “In case the explanation is not submitted within given time, the authorities may take action,” said a source.

Source:https://realty.economictimes.indiatimes.com/news/regulatory/rajasthan-rera-serves-notices-to-nine-developers-for-violations/70068423

RERA tightens land market in Rajasthan

JAIPUR

The Real Estate (Regulation and Development) Act, 2016 (RERA) has tightened the noose on regulated market in the state, but illegal business of non-regularised plotted colonies on agricultural land, continues to flourish in the state capital, leaving many home buyers in a fix.

Many buyers continue to invest their hard-earned money in these housing schemes without realizing that all their savings may go down the drain. At the time of selling plots, the dealers and their agents lure the home buyers with various facilities such as spacious parks, green belt, potable drinking water, well-constructed roads, sewerage facilities and power connections. Once the plots are sold, the dealers vanish leaving people at the mercy of the agents.

Moreover, these developers do not develop colonies as per norms. Bharat Jain, a victim, said, “As per the initial proposal of the colony, the developer had promised that 60% area of the total land is allotted for plots and the remaining 40% for facilities like parks, roads, community hall etc. In my colony, in Beelwa near Tonk Road in zone 14, the developer duped the customers as 80% of the area is being utilised for plots to earn money. In some plots there is no space left for the construction of roads.”

Jain is not the only one, many people approach Jaipur development authority (JDA) to complain about such colonies. But nothing much can be done as these colonies are not approved by the civic body. A JDA official said, “The illegal colonies have sprung up in large numbers near the Ring Road project. The developers issue lease deeds on newly purchased agricultural land in connivance with the civic body and administrative officials. The maximum colonies have come up in zones that fall outside the city.”

For the regularised market, the urban development and housing (UDH) department has implemented RERA to check the authenticity of housing projects and to ensure that developers fulfill their commitments.

Source: https://realty.economictimes.indiatimes.com/news/industry/rera-tightens-land-market-in-rajasthan/69511907

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: www.rera.rajasthan.gov.in)