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Real Estate Regulatory Authority News
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Sale of units/ apartments on this basis will be considered illegal and according to the provisions of RERA Act, buying and selling of apartments is legal only on the basis of carpet area, said the UP RERA.
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Record 36 projects were registered in UP RERA in September 2022
The total cost of residential and commercial projects is Rs 3648.35 crore
24 new projects launched in non-NCR while 12 in NCR region
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RERA issued orders to developers to refund Rs 50 crore.
Developers had failed to give flats in a stipulated time period.
The refund has to be done in 90 days along with 9.7% interest.
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The Uttar Pradesh Real Estate Regulatory Authority (Rera) will be organising a National Lok Adalat online from April 10.
The aim of starting this online forum will be to address the disputes between home buyers and developers.
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Godrej properties has been fined Rs 30 lakh for publishing advertisement related to project work without prior registration of the project with RERA.
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Pronouncing its judgment in the case pertaining to pending projects of Amrapali Group, the Supreme Court on Tuesday faulted banks, Noida and Greater Noida authorities for the ongoing mess at the real estate company. Watch this video to know more.
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The move is aimed to give single page-single click information to home buyers across the country which will help them get know all the current updates regarding housing sector.
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With the number of residential project launches falling on the back of the implementation of the Real Estate Regulatory Authority (RERA) from May 1, brokers are planning to focus on rental market to get more business, a recent survey said.
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A Parliamentary Committee on Thursday recommended a slew of measures favouring property buyers, which include a three-year jail term or a fine for a defaulting builder under a new law which will now cover projects of 500 sqm or eight flats.
The bill aims to ensure sale of plot, apartment buildings in an efficient and transparent manner and protect the interests of consumers.
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