Page 3 - Rera Act News Today

MahaRera: “During the course of the audit, the auditors had multiple follow-up visits, sent emails and held multiple rounds of discussion, requesting the data required for audit, but the information was not provided for review,” said a senior official.

There is a spike in applications for registrations of projects during the festive season, according to the real estate regulator.

A homebuyer found that a project developed by listed developer Puravankara Ltd was under litigation only after paying a booking amount of Rs 5 lakh. He sought a refund and received it after a delay

In a recent case, the Maharashtra regulator allowed the developer to cancel the allotment to the homebuyer with riders

Developers are obliged to provide a parking lot of the dimensions promised in the agreement of sale for the property. Homebuyers can seek redressal from MahaRERA in case this condition has not been met.

MahaRERA Chairman Ajoy Mehta said that the organisation has received a number of complaints from property buyers about the poor quality of construction. Per the RERA Act, the developer is responsible for the same for a period of five years from handing over possession.

The promoter has been ordered to pay interest of MCLR plus 1 percent to the allottee for the delayed period from April 2022 till the receipt of OC or CC, the authority said.

The Real Estate Regulatory Authority (Rera) in the state has planned three initiatives that it hopes will help it deal with stalled projects and ensur

This will be one of the prerequisites for a builder to qualify for the mechanism the authority is considering to rank builders in the state

The QR code will help prospective homebuyers access information about a real estate project using their smartphones.