28 nov. Rera Registration Rules
There have been several instances where developers have even gone so far as not to mention the date of ownership in the agreement, resulting in mental and financial trauma for homebuyers. While the Maharashtra Property Regulatory Authority (MahaRERA) has taken serious note of the issue, it ordered Skyline Construction Company in a recent decision to repay Rs 1.06 crore as well as an interest rate of 10.55% to actor Vrajesh Hirjee for failing to surrender the property and leaving the title date clause empty in the registered contract. In another case, Aparna Singh, who had purchased an apartment in a residential project in Thane, could not claim an interest exemption under section 18 of the Real Estate (Regulation and Development) Act (RERA) because the date of taking possession was not included in the contract of sale. In his case, the RERA court ordered the developer to pay him interest, although the date is not mentioned in the agreement. Sulaiman Bhimani, an RTI activist and chairman of the Citizens Justice Forum who has fought many cases related to this issue, said: “This is a trick used by developers to circumvent laws by not mentioning the date. Now, home buyers can turn to Consumer Court or RERA and file a complaint about the builder`s promise or unreasonable delays. “If the buyer is not satisfied with the order, he can contest it within 60 days before the Court of Appeal. The next appeal against the decision of the Court of Appeal may be lodged with the High Court of the respective States. Update January 2, 2019: A large number of states have communicated their rules to the central ministry. RERA faces the greatest challenges in the northeastern states. As of 2019, five northeastern states had not adopted their RERA rules for regularizing property. The States recruited that have not submitted the rules are Arunachal Pradesh; Meghalaya; Sikkim; Nagaland.
After the start of RERA, 2016, West Bengal enacted its own law known as the West Bengal Housing Industry Regulatory Act, 2017. It was launched on June 1, 2018. However, it is not permissible to formulate separate state rules for all the regulator`s functionalities. Best of all, homebuyers offer top-notch protection against material defects and false promises. You will have the power to file a complaint against the developer and promoters in case of fraud and false promises. A complaint under the RERA must be filed in the form prescribed by the regulations of the respective states. The complaint may be filed in relation to a project registered under the RRRA within the prescribed time limit for violation or violation of the provisions of the law or the rules or regulations established under the RERA. Therefore, before concluding the contract, you can find out all the details of the project online on the RERA website by visiting the RERA website of the country concerned and going to the Registration tab. I have attached a screenshot of RERA Maharashtra. To get an idea of what the RERA MAHARASHTRA REGISTRATION website looks like.
The most positive aspect of this law is that it provides for a uniform legal regime for the purchase of housing; Housing, etc. and tries to standardize practices across the country. Highlights of the Act include: Creation of the regulator: The absence of an appropriate regulator (such as the Securities Exchange Board of India for capital markets) in the real estate sector has long been felt. The law establishes a real estate regulator in each state and territory of the Union. Its responsibilities include protecting the interests of stakeholders, accumulating data in a designated repository, and creating a robust grievance system. In order to avoid delays, the Authority was instructed to process applications within a maximum of 60 days; The same can only be extended if a reason for the delay is given. In addition, the Real Estate Appeal Authority (REAT) is the appropriate body for appeals. Mandatory registration: According to the central law, any real estate project (when the total area to be developed exceeds 500 m² or more than 8 apartments must be developed at each stage) must be registered with the RERA of the State concerned.
Existing projects for which the Certificate of Completion (CC) or Certificate of Occupancy (CO) has not been issued must also meet the registration requirements of the Act. When applying for registration, project proponents must provide detailed information about the project, such as land status, developer details, permits, completion schedule, etc. Only when registration has been completed and other (construction-related) permits have been obtained, can the project be commercialized. Reserve account: One of the main reasons for the delay in projects was that funds raised by a project were invariably diverted to fund new projects.