Free Press Journal
  • 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.

  • Mumbai: Builders prone to hide behind bankruptcy cover to avoid RERA

    Mumbai: The infamous Jaypee Infratech’s insolvency case has brought to light a possible clash between two new laws — Insolvency and Bankruptcy Code (IBC) and the Real Estate (Regulation and Development) Act (RERA). The RERA team and Insolvency and Bankruptcy Board of India (IBBI) met recently to discuss ways to resolve this issue.

  • Mumbai: Buyers complain against city’s top developer for not registering project with RERA

    Mumbai: Even as the Real Estate Regulatory Authority (RERA) has asked developers across the state to register their projects on their website, two projects of a well-known developer are yet to be registered. Property buyers have started complaining against developer Jaycee homes stating that the latter has not refunded the booking amount despite not starting the project for five years. Speaking exclusively to the Free Press Journal, Dipesh Bhaktani, executive director of Jaycee

  • Mumbai: Lodha relents on booking amount

    Mumbai: Setting an example by taking action against a well-known developer, the Real Estate Regulatory Authority on Tuesday directed Lodha developers to return the booking amount of a property buyer. Roshan Navale had made a payment of Rs 1.8 lakh as booking amount for one of Lodha’s project called ‘Ultima’.

  • Mumbai: RERA is helpless in 2 city projects

    Mumbai: Established to protect the rights of property buyers and maintain transparency in the real estate sector, the Real Estate Regulatory Authority (RERA) failed to take action against a city developer who has allegedly duped hundreds of buyers. The buyers have complained that the developer collected booking amounts but failed to even start the project work in the past four years.

  • RERA directs developer in Mumbai to register sale agreement with property buyer

    Mumbai: Coming down heavily on a city developer, the Real Estate Regulatory Authority (RERA) has directed him to register a sale agreement with a property buyer which he had delayed for more than a year. After running from pillar to post for more than a year to get a sale agreement registered of her Malad flat, an elderly woman approached RERA by registering her complaint against Rupji Constructions for failing to register

  • MahaRERA: Deadline for builders to register projects extended till September 30

    To give final chance to developers, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has extended the deadline for registration till September 30. This decision was taken on Friday’s MahaRERA meeting. In this meeting, MahaRERA also doubled the penalty from Rs 1 lakh to Rs 2 lakh per project.

  • Maharashtra: RERA website to open new window to view complaint details

    Mumbai: Public complaints and judgement details pertaining to realty projects registered on the Real Estate Regulatory Act (RERA) website will soon be open for public view. The authority has decided to open a new window where registered complaints will be displayed on the website along with the case details.