Tag Archive: rera

Builders get 3 months to come under RERA rules

Property

Panaji: A delay in notifying the Real Estate (Regulation and Development) Act (RERA) rules for Goa has once again delivered a setback to consumers who were waiting for RERA to be enforced before buying homes. The BJP government on Sunday extended the deadline to October for ongoing projects to register with RERA, even though the central government and other states have clearly refused to grant an extension. The central Real Estate (Regulation and Development) Act (RERA) came into effect on May 1, 2017, exactly a year after it was passed by Parliament. As per the Act, developers, projects and agents had till July 31 to mandatorily register their projects with the Real Estate Regulatory Authority. Any unregistered project would be deemed to be unauthorized by the regulator, but since the state government has failed to notify the rules…
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Realtors brace for chaos, pain, rising costs as RERA comes closer to reality

Property

The new legislation to regulate the building industry in the country has been welcomed by everyone. AJIT JOHN spoke to builders in the State to understand their reaction to this piece of legislation that will change the modus operandi of many The initial reaction to RERA has been very welcoming. And the general consensus is that it will take three months for the bill to be implemented in the State. The Real Estate Regulation and Development Act will radically overhaul the way the industry is run. The essence of the legislation is to provide protection to the individual interested in buying a house. It is undoubtedly the most important bit of legislation for a sector which has generally functioned like the Wild West. The central law is excellent in principle according to the considered opinions of builders in…
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