Free Press Journal
  • RERA not ‘retrospective’, still let Parliament decide, says Bombay High Court

    Mumbai: The landmark ruling of the Bombay High Court upholding the constitutional validity of the Real Estate Regulatory Authority (RERA) act will surely have some larger implications on the real estate industry. The major clarification sought by the developers and home buyers was if RERA has a ‘retrospective’ effect but the HC has put the onus on the Parliament.

  • Bombay High Court upholds validity of RERA

    Mumbai: The Bombay High Court today upheld the validity of the Real Estate (Regulation and Development)Act (RERA). A bench of Justices Naresh Patil and Rajesh Ketkarpronounced its judgement on a bunch of petitions filed by real estate developers and individual plot owners, all challenging the constitutional validity of the Act that was brought into effect earlier this year.

  • Mumbai Real Estate Slump: 3.5 lakh flats unsold in Mumbai metropolitan region, claims report

    Mumbai: The claims of slowdown is the real estate sector in Mumbai Metropolitan Region (MMR) cannot be denied any more. This is now supported by figures that suggest that out of total units registered under MahaRERA, about 3, 50,000 units remain unsold. According to the latest report of Cushman & Wakefield and Propstack, about 52 per cent of units remain unsold up until August 31, 2017.

  • Indore: Property buyers can approach police against errant builders: RERA chairman

    Indore: Newly-constituted Real Estate Regulatory Authority (RERA) chairman Anthony J. De Sa said that the authority aims at regulating the sector. However, if a builder runs away than those who have booked flats can approach the police. “RERA is not to punish people but to promote the sector and protect the people’ he said.

  • Buyers who have moved in cannot complain: RERA

    Mumbai: Homebuyers who have taken possession of their flats and have not received amenities as per to the agreement should now give a second thought about it. In a recent order by Maharashtra Real Estate Regulatory Authority (MahaRERA), the authority dismissed a similar complaint where the buyer after taking possession of the flat alleged that the developer has not provided amenities as per the agreement.

  • Diwali 2017: Hit by RERA and GST, festive cheer eludes realty sector

    Much against the expectations of the real estate sector, this year’s festive season is turning out to be somewhat disappointing for property developers as aspiring home buyers are extra cautious about investments in the backdrop of the slowing economy and unstable realty sector, hit by the short-term impact of the Real Estate Regulation Act (RERA) and the Goods & Services Tax (GST).

  • Mumbai: RERA dismisses complaint of buyer for delayed flat possession

    Mumbai: In yet another instance of delayed flat possession for a homebuyer, the Maharashtra Real Estate Regulatory Authority on Monday dismissed a buyer’s complaint regarding delayed possession stating that the buyer has the status of a co-promoter in the project. The Authority said that the complaint does not pertain to any contravention of the RERA Act 2016.

  • Mumbai: RERA directs developer to repay Rs 2 crore to buyer over delay in flat possession

    Mumbai: In what seems to be a ray of hope for homebuyers affected by delay in flat possesions, the recent judgement made by the Real Estate Regulatory Authority directs a city developer to repay more than Rs 2 crore to a homebuyer, who complained of delay in possession. Surprisingly, hours after the judgement, the authority stayed its own order for 30 days. Considering a recurrence of such complaints, the authority had given

  • Mumbai: RERA asks developer to pay up for delaying possession

    Mumbai: The Real Estate Regulatory Authority (RERA) has directed Nirmal Lifestyle Developers to pay a loan interest of a homebuyer’s flat for delaying the possession date by two years. The developer will have to pay interest from May this year till the date of possession.

  • Mumbai: RERA forces developer to revise possession date

    Mumbai: In yet another complaint against a city developer for pushing back flat possession dates, a home buyer has approached the Real Estate Regulatory Authority (RERA) after the developer failed to give possession of the flat for five years. The complainant, Balu Bawar, told the RERA bench that he does not wish to continue investing in the project after the developer, Neptune Developers, delayed the project.

  • Mumbai: Authority doesn’t violate builders’ rights, says government

    Mumbai: In a bid to dodge a batch of petitions, challenging the constitutional validity of the Real Estate (Regulation and Development) Act, 2016, the Union government on Monday defended itself in the Bombay High Court. The government has clarified that RERA, in no manner infringes the fundamental rights of developers. It also clarified that the newly passed Act does not override any of the existing statutes.

  • Dear Mumbaikar, before you fall for the 20:80 payment scheme of builders, read this

    Mumbai: With the recent hit to the real estate market after demonetisation and rollout of Real Estate Regulatory Authority, developers have resorted to offering several schemes to property buyers in order to maximise their sales. Home buyers are lured by such schemes considering the sky-high property rates and unaffordable housing in the city.

  • Mumbai: Developers have to pay interest rate for delays to buyers, says MahaRERA

    Mumbai: After homebuyers complained to the authority about developers pushing back the date of possession by months or years while registering the project, the Real Estate Regulatory Authority (RERA) has decided to direct developers to pay the interest rate to buyers for delays. Hundreds of buyers were shocked to see their project completion dates in the RERA registration revised to a much later date.

  • Mumbai: RERA slammed for favouring developers

    Mumbai: After revoking and objecting to several provisions in the Real Estate Regulation Authority Act, members of the consumer body, Mumbai Grahak Panchayat have accused the MahaRERA of favouring the developers and has pointed out loopholes in the act. Requesting the Central Government to make amendments in the RERA act to restructure its provisions, MGP has written to Durga Mishra, Secretary at the Ministry of Housing and Poverty Alleviation citing

  • MahaRERA confusion! 2 developers give details for same project following internal dispute

    Mumbai: In what seems like an error in the project approval system of the Real Estate Regulatory Authority (RERA), two co-promoters of the same realty project registered its details on MahaRERA as two separate projects following an internal dispute. The issue was highlighted after one of the promoters approached RERA complaining that the disclosure made by his co-promoter is false. The complainant disputed to claim the ownership of the project as its

  • New RERA judgement leaves homebuyers confused about the registration of projects

    Mumbai: In yet another judgement that leaves property buyers in further ambiguity over the Real Estate Regulatory Authority (RERA) Act, it has been held that a building need not be registered under RERA if it is occupied by residents but still lacks occupancy certificate. There are approximately 20, 000 buildings in the city that do not have an Occupancy Certificate but have thousands of occupants.

  • Mumbai: RERA directs developer to upload correct info

    Mumbai: Acting on a complaint, the Maharashtra Real Estate Regulatory Authority, on Friday, directed a city developer to upload factually correct information of its registered realty project on the website. Abhigna Enterprises, the complainant, alleged that disclosures made by developer Incline Realty in the MahaRERA registration is misleading and a false representation.