If one takes a close look at the two big factors of real estate, then he would find that government and builders give the major push to it. Of course, buyers have their own significance, but their importance is felt in the reactions whereas actions are made by the authority and the builders. With RERA, …
Category Archives: RERA
RERA Affects the Launch of New Projects in Delhi NCR
Real Estate Regulatory Authority of India has already started showing its effect. RERA policies have made it mandatory for the builders to deliver the projects on time. If not delivered on time, they will be penalized and may have to face imprisonment too. While various residential markets across the country showed 7% growth in property …
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Rules on Salary Payable to the Chairperson, Members and other Officers in RERA Authority
RERA India is not only a buzzword among buyers and developers but is also of great significance to the Chairperson and Members of Authority. From knowing the selection procedure to the remuneration to the paid leaves, RERA is of great interest among Real Estate Regulatory Authority. The draft rules of RERA related to remuneration payable …
MoHUPA’s Draft for Real Estate Agents Based on Real Estate Act of 2016
I – Documentation Requirements of Real Estate Agent Registration Every agent must submit following details in a written form in order to fulfil the application. (a). An agent must provide brief details of his work and company. This will include his name, company’s name, type of enterprise etc. (b). The information for registration should include …
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Following Are the Information Which the Promoters/Builders Have To Provide During Their Registration Process in RERA.
(a). Pan card of the promoter/builder. (b). The information of income tax returns for the three previous financial years with the audited balance sheet of the promoter/builder of the previous financial year. (c). The promoter/builder must clarify the number of open parking spaces. (d). A legal copy which certifies the possession of the land in …
Introduction to Draft Presented by Ministry of Housing & Urban Poverty Alleviation
Reflecting the on-going problems in real estate of India, the government passed a RERA (Real Estate Regulatory Authority) Bill on 1st May 2016. The bill was a part of Real Estate (Regulation and Development) Act of 2016 which was pioneered by Ministry of Housing and Urban Poverty Alleviation (HUPA). RERA contains the set of rules …