- Latest News Details
Even though all states were supposed to have notified their RERA rules by July 31, 2017, only 15 out of the existing 29 states have complied by this deadline. However, all seven Union Territories have notified them.
What is more, the central RERA has been diluted by many states regarding the inclusion of ongoing projects. Several states have notified the RERA rules but kept many ongoing projects out of the ambit of the Act even though the occupancy certificate had not been received for those projects.
Here's the status update: Out of 29 states and 7 union territories, only 15 states had notified the final rules of the real estate regulatory Act (RERA) while all seven UT's had notified them. As per an ET Realty article, out of a total of 35 states and union territories (UTs) in the country, excluding Jammu & Kashmir, 23 states and UTs have already notified their respective RERA rules, according to a government release.
The central RERA became effective from May 1, 2017 and aims to cover not only the new real estate projects but also the on-going projects where the completion or the occupation certificate had not been received by the developer as on that date.
However, it allowed a period of three months to the promoters to get their ongoing projects registered with RERA i.e. until 31st July 2017. Going forward, every real estate project, new or ongoing project which is to be sold or advertised by the builder will necessarily have to carry the project registration.
Each state and UT were supposed to have their state rules notified, have the state regulatory authority (RA) and appellate authority established and also have the state-specific RERA website by July 31, 2017.
However, there has been a dilution of the central Act as far the inclusion of ongoing projects is concerned. Several states have notified the rules but kept many on-going projects out of the ambit of the Act even though the occupancy certificate had not been received for those projects.
While almost an equal number of states have yet to notify the rules, only a handful of state RERA have their website up and running.
Online access to project's information
Each Regulatory Authority in the state will have the responsibility to register and regulate real estate projects and real estate agents registered under this Act. It will also be required to maintain a website for public viewing, of all real estate projects for which registration has been given.
After registration with RA, the builder will be given a login-id and password to create a page on RA's website to upload the project related information on authority's website. It will show the quarterly status of booked apartments and up-to-date status of the project and amongst others.
For the existing and also for the new buyers, getting to know whether their on-going project or going-to-be home is a RERA-compliant one, here's a list of state RERA websites:
STATE RERA WEBSITES
Gujarat RERA website
Karnataka RERA website
Kerala RERA website
Madhya Pradesh RERA website
Maharashtra RERA website
Rajasthan RERA website
Tamil Nadu RERA website
Uttar Pradesh RERA website
Punjab RERA website
On the state RERA website, one can either search for RERA registered projects or could also find out the projects being handled by registered real estate agents.
What's on the website
Some of the information available online will include all the details of the project, the promoter's name, address and any previous experience, proposed date of completion of project and any revised date as well, details about the development work such as roads, water, electricity and their stage of completion, number of apartments, stage of completion of the buildings etc.
Along with, one can download to view the documents related to the projects such as copy of the legal title report, details of encumbrances, copy of layout approval (in case of layout), proforma of the allotment letter and agreement for sale, Affidavit declaration by the promoter in FORM B, commencement certificates, commencement certificates, building plan approval.
Real estate agent verification
On the same website, the details of the agent can be verified by inserting the agent registration number. As a buyer, always ask for the registration number from the agent you are dealing with. Get it verified on the state RERA website about the credentials and also if any adverse orders are passed against him by the regulatory authority and then only deal with them.
All real estate agents have to register under this Act. No real estate agent shall facilitate the sale or purchase of or act on behalf of any person to facilitate the sale or purchase of any plot, apartment or building, as the case may be, in a real estate project or part of it, without obtaining registration under this section.
Home buying has not been a very pleasant experience for many. With the coming of RERA, some of the things may be expected to be smoothened out. However, as a buyer, give some time to let the things settle down before you start your search for the RERA compliant home of yours.
Source : https://goo.gl/195rDd
YouTube adalah salah satu platform konten paling beragam di dun ...
The Indian government has sought to promote the Indian real estate indus ...
The real estate industry, which has pioneered guidelines such as the GST ...
What is the Rera?
Before we look into the impact of Rera in the R ...
In accordance with Article 3 of the Real Estate Regulation and Promotion ...
Introduced on May 1, 2017, RERA deems to make not only builders and prom ...
Definition of RERA
The Real Estate (Regulatio ...
With the implementation of Real Estate (Regulation & Development) Ac ...
RERA (Real Estate Regulatory and Authority) came into effect on 1 May 20 ...
RERA (Real Estate Regulatory and Authority) consultancy is aimed at prov ...
Under Real Estate Regulation Act 2016, every state must register under R ...
The first prominent law in the face of promoters and sales agents comes ...
The much awaited Real Estate (Regulat ...
A big challenge for Real Estate, one can debate on the legality of the c ...
I was part of the Panel on the dais with Interim Regulator(Haryana)and v ...
Real Estate( Regulation & Development ) Act, 2016 or as simply calle ...
Real Estate(Regulation & Development ) Ac ...
Real Estate Industry in the past few years has been passing through one ...
Last year, marking a major reform in Real Estate Industry, The Real Esta ...
Intygrat Business Advisory (P)Ltd.
(CI No. U74900DL2011PTC216088)
Corp. Off.: 2 nd Floor, Building No. 13
Community Centre, East of Kailash
New Delhi – 110065
Ph.:+91 9599002354, +91-11-40514977
Copyright © 2018 All Rights Reserved. Hosted and Powered by Jeewan Garg