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Soon, realtors will have to display 'approved plans' on construction sites

From now on, realtors will have to display approved building plans on the site of their project. In a Supreme Court order, it has been made mandatory, and Consumer forum in Mumbai claims that MahaRERA has agreed to their demand on the same. This they say will help a home buyer in knowing where is he putting his money.  A section in the order stated that, "...keeping in mind the provisions of RERA and their objective, the developer should mandatorily display at the site the sanction plan. The provision of sub-section (3) of Section 11 of the RERA require the sanction plan/layout plans along with specifications, approved by the competent authority, to be displayed at the site or such other places, as may be specified by the Regulations made by the Authority. In our view, keeping in mind the ground reality of rampant violations and the consequences thereof, it is advisable to issue directions for display of such sanction plan/layout plans at the site, apart from any other manner pr…
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Big boost for home buyers: Projects received part occupation certificate to come under MahaRERA

In an order that would set a precedent for future cases related to part occupation certificate, the MahaRERA (Maharashtra Real Estate Regulatory Authority) in an interim order dated September 12 has held that the project will come under its jurisdiction even though it has received part occupation certificate. In its order, MahaRERA implied that having part occupation certificate means the project is not completed. The ruling is very significant as getting part occupation certificate for the projects is quite a trend among the developers in Maharashtra.
HIS-ERP.COM “This will be a welcome order for the home buyers. The projects with part occupation certificate will now be considered as ongoing projects. This means, they will now come under the purview of RERA,” said Apurva Kanvinde, senior associate, Juris Corp. The order was passed in a complaint filed by Haresh Jethmal Asher against Bellissimo Crown Buildmart, which is a subsidiary of Lodha Developers. The buyer had purchased a flat …

SRA scheme home buyer gets Rs 65 lakh refund from SSV Developers, Hemant Parikh

MahaRERA rules that developer-broker dispute can’t come in the way of refund.

Maharashtra Real Estate Regulatory Authority(MahaRERA) has directed SSV Developers to refund Rs 65 lakh, with interest, to a home buyer, and ruled that the developer cannot cite his dispute with a real estate brokerage firm to deny his liability to refund.

According to his complaint, home buyer Sharif Mohammed Dalvi had booked two flats 1704 and 1705 in Lareina Residency project, the sale component of a Slum Rehabilitation Authority (SRA) scheme in Tagore Nagar in Vikhroli, in October and December 2017. He had done the booking through a real estate brokerage firm, Sai Estate Consultants Chembur Pvt Ltd.

While the agreement for sale for 1704 was executed by the developer, he had not executed the agreement for 1705 which was a resale flat. On realising that the developer had not cancelled the agreement done with the previous owner of 1705, he decided to withdraw from the project and sought a refund under Section …

RERA restores NRIs’ confidence in real estate projects back in India

PUNE: After years of indecisiveness, the implementation of MahaRERA has helped Qatar-based Shibu and Josy Thomas make up their mind to invest in a realty project in Baner.


With Josy's parents from Pune, the couple have been looking to invest in a project here for the last few years. "We always wanted a home in the city, our birthplace. We will finally have an investment in the realty sector and can do it with confidence," Josy said.

Another US-based couple, who did not wish to be named, said they have asked their relatives to look for investment in the real estate segment here. "My sister-in-law, who would hesitate to invest in Pune till the other day, has asked us to be on the look out for RERA-registered projects," said M Rao, whose brother and sister-in-law are in the US.

Non-resident Indians have been traditionally attracted to investments in the real estate sector because of currency exchange rate and easy laws for investments by NRIs under the Foreign Exc…

Mumbai: 150 homebuyers register a complaint with MahaRERA against real estate project at Mira Road

Nearly 150 homebuyers have registered a complaint with the Maharashtra Real Estate Regulatory Authority (MahaRERA) against a real estate project at Mira Road which has been stalled for the last four years. Buyers said that the construction work of the project was affected after a dispute among the directors of the company, Kashmira Ceramics Products. According to one of the buyers, the project named Tanvi Eminence, is divided in two phases. It was announced in 2010 with 500 flats and the developer had promised to deliver the flats by 2016, however, the project got stalled in 2013 after a fallout amongst the directors. The buyers will be meeting Chief Minister Devendra Fadnavis and state chief secretary in order to take action against the developer. Buyers alleged each of them had paid an advance of nearly Rs 25 lakh to the developer while booking the flats and most of them are now paying off their loans. Although, only 150 buyers have lodged complaints, there are more than 400 home b…

MahaRERA Statistics (Registered Units)

Mumbai homebuyers remain chary of new purchases, irrespective of which end of the budget spectrum they are at. Unsold inventory in the so-called city of dreams for 1-, 2-, and 3-BHK homes remains at 49, 50, and 51 per cent, respectively, a new report from real estate consultancy JLL India shows. Worse, the report, which looks at projects registered with the Maharashtra Real Estate Regulatory Authority (MahaRERA), projects that unsold inventory in various parts of the city will rise in 2018 compared to 2017. According to the report, Thane Municipal Corporation and adjacent areas are performing better than Mumbai, with the least number of unsold units at 15 per cent for projects scheduled to be ready by end of 2017. The bad news is that the number is likely to be more than double to 38 per cent for projects that will be completed by 2018. The data, as of July 31, 2017, shows unsold inventory in Andheri at 36 per cent in 2018, compared to 28 per cent in 2017. Chembur is likely to see un…

Rs 2 lakh penalty to be imposed for late registration under Maha RERA

Mumbai: Maharashtra RERA authorities, in a meeting held on Friday, decided to increase the penalty for registration of ongoing projects registered from September 1-30 to Rs 2 lakh or an amount equivalent to double the registration fee, whichever is more, subject to a ceiling of Rs 10 lakh.
The order was issued by MahaRERA chief Gautam Chatterjee and members Bhalchandra Kapadnis and Vijay Satbir Singh. The RERA authorities had set a penalty of Rs 1 lakh till August 16, and as per the order on Friday, the same amount will be levied till August 31.
The Real Estate Regulation Act prohibits ongoing unregistered projects from advertising and selling with effect from August 1. MahaRERA has stated that delaying the registration of the ongoing projects would jeopardize the interest of allottees of the said projects since the details of such projects would not be available in public domain for scrutiny and further filing of complaints.
The order issued on Friday also states that if a promoter d…