𝐎𝐝𝐢𝐬𝐡𝐚 𝐒𝐢𝐦𝐩𝐥𝐢𝐟𝐢𝐞𝐬 𝐀𝐩𝐚𝐫𝐭𝐦𝐞𝐧𝐭 𝐑𝐞𝐠𝐢𝐬𝐭𝐫𝐚𝐭𝐢𝐨𝐧
The state introduces buyer-friendly measures under RERA & Odisha Apartment Ownership Act 2023. Key updates include clear cost bifurcations for apartments and common areas, streamlined registration fees to prevent duplication, and enhanced transparency. Developers must adhere to prescribed norms, ensuring fair cost allocation and protection for homebuyers.
#OdishaRealEstate #RERAUpdates
Kerala Real Estate Regulatory Authority issues notices to 63 Real Estate Projects for not filing tri-monthly report
The Kerala Real Estate Regulatory Authority (K-RERA) has issued notices to 63 real estate projects in the State for not submitting online tri-monthly reports for the current calendar year. Out of 582 projects only 519 filed their reports, said K-RERA.
Read The RERA update to know more.
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Hyderabad For faster resolution of the complaints against illicit builders and developers, the Telangana Real Estate Regulatory Authority (TS-RERA) Chairman Dr N Satyanarayana announced that the authority has initiated virtual hearing of the cases from home buyers and property investors.
Along with TS-RERA members – J Lakshminarayana and K Srinivasa Rao, he started an online hearing at their office. An online inquiry was conducted as per the complaint received from a complainant.
Satyanarayana said, “Within 40 days of the establishment of the TS-RERA, we have started the virtual hearing system so that the complaints can be resolved more quickly. The complainants can attend the online hearing even if they are from any part of the world or in an inaccessible situation, and cannot attend the hearing.”
The TS-RERA Chairman warned that no advertisement should be issued without having RERA registration and legal action would be taken against those who were found violating the rules of the RERA Act, 2016.
GUWAHATI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has decided to implement a grading system for housing projects across the state. The initiative aims to empower homebuyers in filtering out unprofessional developers while providing them with a better understanding of project suitability and quality. Along similar lines, the Assam Real Estate Regulatory Authority (RERA) is also contemplating starting the grading system in Assam.
A senior official of RERA said, “According to the guidelines prepared during the formation of RERA, starting grading system for real estate projects is one of the most important responsibilities for the body,” adding that the body now is contemplating to start the grading system and for the purpose an “analysis” is ongoing.
The official further opined that before RERA it would have been great if the state government could have formulated a policy which could have started “marking” the real estate projects.
The official said that to start the grading system various aspects of the projects will have to be studied. The study for grading will include a project overview, technical snapshot, financial details, and legal snapshot, said the official adding that the system have to consider the promoters’ compliance track record, legal litigations, project finance quality, amenities, the status of statutory approvals, booking percentage, financial and legal encumbrances, and audit certification, among other criteria. “Such information is typically inaccessible to homebuyers or rarely provided by builders,” said the official.
The official said that RERA receives maximum complaints regarding parking and visitors parking in apartments. “There should be 25% of parking space in any apartment allotted to visitors,” said the official and selling parking space is not legal. He stressed that once the grading system starts, all these issues will be easily taken care of.
The official questioned the process by which authorities like Guwahati Metropolitan Development Authority (GMDA) and Guwahati Municipal Corporation (GMC) issue permissions as according to the official many projects across Assam “violate” building bye-law norms.
The introduction of the grading system aims to assist homebuyers in making more informed decisions said the official by considering factors like financial risk, legal risk, technical risk, and timely completion risk, adding that potential investors can better understand the projects they are considering to buy.
The Assam RERA official said that if the grading system starts in Assam, the process vsill be very transparent and public opinion on the grading system will be taken before starting the process.
In Maharashtra, the grading process is scheduled to commence between October 2023 and March 2024. Initially, all projects registered from January 2023 onwards will undergo grading. Subsequently, the Maha RERA authorities plan to establish a matrix for grading promoters. The first round of grading results is expected to be announced on April 20 next year.
The Assam RERA official said that global examples of successful grading systems in Singapore, Australia, and Dubai have resulted in a better real estate environment there and the grading system in Assam also ensure better projects.
The officials are now studying all aspects of the grading system and a decision be made in a couple of months.
Source: https://www.guwahatiplus.com/assam/assam-rera-mulls-starting-grading-system-for-real-estate-projects
In a strict warning to the builders in Guwahati, the Real Estate Regulatory Authority Assam (RERA) has directed the builders to display RERA registration numbers, project names and website addresses on the hoardings, banners and advertisements of the projects.
“It has come to the notice of the authority that many builders have been putting up hoardings, banners, advertisement of the real estate projects without displaying the RERA registration number, project name and website address,” the RERA order stated.
The order further mentioned that this is in violation of section 11 (2) of the Real Estate (Regulation and Development) Act 2016 and the Rules and regulations framed there under.
“All builders are therefore directed to display their RERA registration number, project name, website address in their advertisements, banner, and hoardings in their project site immediately,” the order further stated. The order said that non-compliance with these instructions will attract the provisions of Section 61 of the Real Estate (Regulation and Development) Act 2016.
It needs to be mentioned that there are many real estate projects across Guwahati where the RERA registration details of the projects are not mentioned in the hoardings or any other advertisements.
A manager of the under-construction apartment site at Jyotikuchi where the RERA registration details were not displayed talking to G Plus on condition of anonymity said, “Our project is registered with RERA but we did not know that it is mandatory to display the registration details,” adding that they will soon display all the details.
Assam Real Estate and Infrastructure Developers’ Association (AREIDA) president PK Sharma talking to G Plus said, “It may have been omitted due to oversight since all projects displayed are already registered.”
The Real Estate Regulation & Development Act was brought to India in May 2016 after a decade of real estate being tormented at the hands of powerful builders.
Now, the RERA Act mandates all ongoing and new RERA projects to register with respective RERA Authorities under the ambit of the Act.
In the case of the non-registration, they will attract penalties under the Act. It is mandatory to have RERA registration for builders of real estate projects with RERA Authorities. In case they fail to comply with the quarterly compliance as mandated under the Act and Rules, they may have to face a complaint filing against them.
The sale of development plots not registered with the Kerala Real Estate Regulatory Authority (K-RERA) may face hurdles if the government approves a recommendation by the K-RERA. The authority has written to the chief secretary seeking a directive to the registration department not to allow sales deed registration of such plots not registered with the RERA.
As per law, development projects that exceed 500 sq m of land or those with more than eight apartments, villas or plots require mandatory registration. But many realtors skip the rule contending that registration was not required for projects that did not meet both criteria. Now, the RERA has issued a clarification that each of the criteria is standalone and has warned of penal action against offenders.
Tamil Nadu issued such a directive to sub-registrars and the level of compliance with the law in that state has increased significantly, the letter said. The government is yet to take a decision on the matter. If approved, the rule will pave the way for near-total compliance in the realty sector.
It will also increase the government’s revenue from stamp duty and registration because, usually, actual sales will be recorded in the agreement. Details in the sales deed, like the extent of the property and accessibility details, will help sub-registrars ascertain whether it is a real estate project requiring RERA registration.
“The issue was flagged by some customers who booked units in unregistered projects. Also, we identified many violations by browsing social media advertisements. Suo motu action was taken against them. We hope that the clarification will result in more compliance. More buyers will get protection under the provisions of the Kerala Real Estate (Regulation and Development) Rules, 2018,” K-RERA chairman P H Kurian said. Delhi and Rajasthan had issued this clarification earlier.
Offenders will face a penalty of up to 10% of the project cost. The RERA is now working in tandem with the local self-governments to book violations. LSG secretaries have been asked to pass on information about projects which do not have K-RERA registration and the mandatory permit from LSGs. All real estate projects, irrespective of their threshold, require a permit from the local self-government.
In a major relief to the builders, the High Court has issued a restraint order on the registration fee hike notification issued by the Odisha Real Estate Regulatory Authority (RERA).
The hearing came on a petition filed by the Confederation of Real Estate Developers’ Association of India (CREDAI).
As per the rule of the RERA, when a builder seeks permission to construct eight or more flats, he has to get the project registered. Earlier, to register their projects, the builders had to deposit Rs 10 per square meter.
But on July 28, 2022, the RERA issued a notification announcing that the registration fee has been hiked from Rs 10 to Rs 200.
Challenging this, the State chapter of the Confederation of Real Estate Developers’ Association of India (CREDAI) moved the Orissa High Court, praying for the cancellation of the notification. They alleged in their petition that the RERA doesn’t have any right to hike fee. The government can instead do this.
While hearing the petition today, the State’s apex court directed the Odisha government and the RERA to furnish their responses.
The court also directed the RERA to deposit the money if collected in a bank account with accruing annual interest until the final judgment. If the final judgment goes against the RERA, the money will be refunded or vice versa.
The Inspector General of Registration (IGR), Odisha on Wednesday clarified before the Orissa High Court that the restrictions imposed on registration of apartments will not be applicable to projects which had received completion certificates from competent authority prior to May 1, 2017, the date of commencement of the Real Estate Regulatory Authority (RERA) Act 2016.
IGR had on July 14 issued a public notice stating that the restrictions will not be imposed on any project ‘completed’ before implementation of RERA Act 2016. But the court had asked the IGR to properly clarify the word ‘completed’ as it can lead to ambiguity. IGR Jyotiprakash Das gave the clarification in an affidavit.
Taking note of it, the division bench of Chief Justice S Muralidhar and Justice MS Raman directed the IGR to notify the clarification again promptly as a ‘corrigendum’ and give wide publicity so that the ambiguity attached to the word ‘completed’ in the public notice issued on July 14, 2022 is dispelled.
The court was hearing a PIL filed by a Bhubaneswar-based apartment owner Bimalendu Pradhan challenging the validity of the Odisha Apartment Ownership (Amendment) Rules 2021 on the ground that it is contrary to provisions of the RERA Act, 2016. Advocate Mohit Agarwal argued on behalf of the petitioner. In an interim order on May 12 the court had directed the IGR to strictly ensure that the sale deeds registered hereafter abide by the RERA Act and rules thereunder.
Complying with the assurance made to Orissa High Court, the State government on Monday notified the Odisha Real Estate (Regulation and Development) Amendment Rules 2022. The new rules have been notified by the Housing and Urban Development department after suitable modifications to the existing Odisha Real Estate (Regulation and Development) Rules 2017.
Officials said the gazette notification of the amended rules intends to ensure smooth implementation of the RERA Act for the government and also to make its compliance easier for all stakeholders including promoters and buyers.
As per the amendments, the promoter will have to abide by the time schedule for completing the project as disclosed at the time of registration with the authority. Any imposition or increase of development charges after the expiry of the deadline of a project will not be charged from the allottees.
Besides, the allottees will also have the right to visit the site to assess the extent of development of the project and his/her apartment or plot. The amendment rules also clarify that the promoter will hand over the common areas of the project to the association of allottees after duly obtaining the occupancy certificate from the competent authority as provided in the Act.
In the absence of any local law, the promoter will hand over the necessary documents and plans including common areas to the association of allottees or the competent authority, as the case may be, within 30 days after obtaining the occupancy certificate. Besides, a number of other modifications have been made in the rules to streamline the agreement for sale of houses and make the rules compliant with the Real Estate (Regulation and Development) Act, 2016.
RERA activists who welcomed the amended rules said attempts have been made to bring clarity on the transfer of common areas to the association and give due importance to the occupancy certificate. They, however, suggested that the power to resolve disputes in the agreement should be brought before the RERA Authority and not adjudicating authority as mentioned in the rules.
The State government in the last week of August had assured the High Court to bring the amended ORERA Rules without four weeks.The notification of the amended rules assumes significance in view of the ban the court had imposed on the registration of sale deeds relating to apartments and flats without conforming to provisions of the RERA Act.
The State government has sought recommendations from the Odisha Real Estate Regulatory Authority (ORERA) to bring necessary modifications to the agreement for sale provision under Odisha Real Estate (Regulation and Development) Rules-2017 in conformity with the RERA Act and its rules.
The government move comes following the order of the Orissa High Court in this regard on June 22. As per the HC order, the State government will also re-examine and bring necessary changes to the format of the ‘agreement of sale’ in the rules in line with the RERA act.
Accordingly, the Housing and Urban Development department has sought recommendations from ORERA in this regard. Sources said necessary amendments are required to remove the difficulties in the existing ‘agreement to sell’ provision prescribed in the ORE (R&D) Rules 2017 which has led to non-registration of the sale agreement by the Inspector General of Registration (IGR).
RERA activists said no clause in the agreement to sale should allow any part of the ‘common area’ to be with builder or even booked or sold to individual buyer as the entire land as well as common area of a project is required to be registered in the name of the ‘Association of Allottees’ formed under the Act.
The agreement to sell also must clearly mention the ‘saleability of Covered Parking’, a tabular format for price breakup, cost of the land, share of land and common areas as well as transaction relating to carpet area.