Latest news with #ReraAct
Time of India
7 days ago
- Business
- Time of India
Flat delayed, builder told to pay buyer 11% interest in Gurgaon
Gurgaon: Haryana Real Estate Regulatory Authority (HRera) has directed the builder of a highrise condominium — an affordable group housing project in Sector 109 — to pay the delay-possession interest and hand over the apartment to the complainant as per the terms of the buyer's agreement. Tired of too many ads? go ad free now The unit number 908 of Tower 3 at Expressway Towers 109 was purchased for Rs 26.26 lakh nine years ago. The builder assured timely possession of the flat, with a carpet area of 644 sqft and a balcony area of 100 sqft, but failed to deliver within the stipulated four-year period from the date of allotment — May 19, 2017. HRera (Gurgaon) ordered the realtor to pay interest at 11.10% per annum on the amount paid by the complainant from May 30, 2022 until the valid offer of possession or two months post-occupation certificate — whichever is earlier. The builder has been given 90 days to clear all arrears of interest and must continue paying interest monthly until possession is offered. Additionally, the builder must provide an updated statement of account within 30 days, reflecting adjusted dues after interest. The complainant approached HRera alleging an inordinate delay in the delivery of the unit, which had been booked in 2016. An initial payment of Rs 1.28 lakh was made on Jan 17, 2016 and a total of Rs 13.65 lakh was paid by May 2018. Despite demands raised by the promoter in July 2021 for outstanding dues, the project remained incomplete. The complainant sought immediate possession after adjusting pending dues against delay compensation. After hearing the matter, HRera held the promoter in contravention of Section 11(4)(a) of the RERA Act and passed directions under Section 37. Upon receipt of the updated statement of account, the complainant must clear any outstanding dues within 60 days. Tired of too many ads? go ad free now The builder has also been instructed to hand over the flat and execute the conveyance deed within three months of obtaining the occupation certificate, subject to stamp duty and registration charges. The authority clarified that the promoter cannot charge labour cess or work contract tax and must provide VAT calculation proofs if applicable. Maintenance charges may only be levied as per actual consumption, the order said. In Aug last year, HRera conducted a meeting on the stalled OSB Expressway Towers project in Sector 109 with homebuyers and the builder and issued a final warning, saying that if the project was not completed within six months, the regulator would invoke Section 8 of the Rera Act. This would transfer control to the buyers' association and potentially involve a third-party builder. The project, launched in 2017, faced significant delays, and despite repeated warnings, the builder failed to deliver possession of the flats. In response to HRera chairperson Arun Kumar's warning, the builder had assured completion of the project within the timeframe. However, he faces challenges arising out of licence suspension of three of his other projects due to default in payment and non-compliance with department of town and country planning orders.
Time of India
29-05-2025
- Business
- Time of India
PM asks officials to focus on full redressal of homebuyers' grievances than simple disposal of plaints
NEW DELHI: The monthly Pragati meeting on Wednesday turned out to be a reality check for real estate regulators (Reras) with PM Narendra Modi asking probing questions to top state officials, including if they have ever tried to find out whether homebuyers are satisfied with the 'disposal' of complaints. Modi also pointed out how just totting-up redressal numbers wasn't enough. The PM directed all state chief secretaries to hold regular reviews and ensure that there is 'complete redressal' of homebuyers' grievances. Sources said to the discomfort of officials, the PM, while reviewing 'issues related to Rera s', said realtors send complaints to him how some Rera officers do not listen to them until 'arrangements (vyavastha)' are made. He instructed the chief secretaries to look into this serious issue. In a statement, the PMO said Modi emphasised on the need to improve quality and timeliness of disposal of grievances related to the real estate sector to ensure justice and fairness for homebuyers. 'The PM emphasised that strict compliance with Rera provisions is critical for restoring trust in the housing market,' it added. The PM's call for assessing the quality of disposal of consumer complaints by Reras comes at a time when questions are being raised about the effectiveness of real estate regulators in executing their orders. This issue has been raised in meetings of govt's central advisory committee of Rera. As per housing ministry data till May 26, a little over 1.43 lakh complaints have been disposed of. It doesn't give the number of complaints filed. 'If they put the status of a complaint as disposed of, then they must ensure that the homebuyer concerned has got compensation or possession of property. After passing orders, they put complaints under the disposed of category. We have been challenging this methodology,' said M S Shankar , general secretary of FPCE, an umbrella homebuyers organisation that had campaigned for enactment of real estate regulation law. TOI has learnt that the PM also raised questions on whether all real estate projects are getting registered with the respective Reras, a mandatory requirement. Pointing out to the much less registration of projects in Uttar Pradesh compared to Maharashtra, Modi asked chief secretaries to deploy people to check the project details of builders from their websites and see whether all are registered. He asked states to ensure the mandatory registration of all eligible real estate projects under the Rera Act, the PMO said. While reviewing the Mahi Banswara Rajasthan Atomic Power project, the PM also asked the education ministry to include atomic energy in school syllabus to bust the myth of radiation around nuclear power and make this more acceptable to people at large. He said that the country will need nuclear energy to meet the power demand. Highlighting the adverse impact of project delays such as Integrated Anandapur Barrage Project, which is yet to be completed after more than 20 years and increase in cost from merely Rs 590 crore to Rs 3,000 crore now, the PM reiterated that such setbacks deprive citizens of essential services and infrastructure. Sources said he also pointed to how the same issues of land acquisition, forest and other clearances are flagged for delay in completion of most infrastructure projects. 'The PM said these need to be resolved by officers themselves,' a source added. Cabinet secretary briefs on actions taken after last Pragati meeting TOI has learnt that Cabinet Secretary T V Somanathan on Wednesday gave an update on the actions taken after the last Pragati meeting in which the PM had issued directions. Sources said Somanathan informed that officers have been deployed for visiting different states to take stock of Jal Jeevan Mission projects. The PM had flagged in the last meeting that he had been receiving several complaints regarding piped drinking water programme in rural areas and had sought field visits of Central govt officers to find the nature of problems and to suggest solutions. Sources said a large share of complaints identified were no supply of water even after laying of pipelines, homes still waiting for getting taps within premises, and bad quality water. They added that Somanthan also told the PM that a module on land acquisition is being prepared to train new recruit civil servants and also to improve land records in border areas in Arunachal Pradesh.
Time of India
28-05-2025
- Business
- Time of India
PM Modi asks officials to focus on full redressal of homebuyers' grievances than simple disposal of plaints
Prime Minister Narendra Modi NEW DELHI: The monthly Pragati meeting on Wednesday turned out to be a reality check for real estate regulators (Reras) with PM Narendra Modi asking probing questions to top state officials, including if they have ever tried to find out whether homebuyers are satisfied with the 'disposal' of complaints. Modi also pointed out how just totting-up redressal numbers wasn't enough. The PM directed all state chief secretaries to hold regular reviews and ensure that there is 'complete redressal' of homebuyers' grievances. Sources said to the discomfort of officials, the PM, while reviewing 'issues related to Reras', said realtors send complaints to him how some Rera officers do not listen to them until 'arrangements (vyavastha)' are made. He instructed the chief secretaries to look into this serious issue. In a statement, the PMO said Modi emphasised on the need to improve quality and timeliness of disposal of grievances related to the real estate sector to ensure justice and fairness for homebuyers. 'The PM emphasised that strict compliance with Rera provisions is critical for restoring trust in the housing market,' it added. The PM's call for assessing the quality of disposal of consumer complaints by Reras comes at a time when questions are being raised about the effectiveness of real estate regulators in executing their orders. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Esta nueva alarma con cámara es casi regalada en Cordoba (ver precio) Verisure Undo This issue has been raised in meetings of govt's central advisory committee of Rera. As per housing ministry data till May 26, a little over 1.43 lakh complaints have been disposed of. It doesn't give the number of complaints filed. 'If they put the status of a complaint as disposed of, then they must ensure that the homebuyer concerned has got compensation or possession of property. After passing orders, they put complaints under the disposed of category. We have been challenging this methodology,' said M S Shankar, general secretary of FPCE, an umbrella homebuyers organisation that had campaigned for enactment of real estate regulation law. TOI has learnt that the PM also raised questions on whether all real estate projects are getting registered with the respective Reras, a mandatory requirement. Pointing out to the much less registration of projects in Uttar Pradesh compared to Maharashtra, Modi asked chief secretaries to deploy people to check the project details of builders from their websites and see whether all are registered. He asked states to ensure the mandatory registration of all eligible real estate projects under the Rera Act, the PMO said. While reviewing the Mahi Banswara Rajasthan Atomic Power project, the PM also asked the education ministry to include atomic energy in school syllabus to bust the myth of radiation around nuclear power and make this more acceptable to people at large. He said that the country will need nuclear energy to meet the power demand. Highlighting the adverse impact of project delays such as Integrated Anandapur Barrage Project, which is yet to be completed after more than 20 years and increase in cost from merely Rs 590 crore to Rs 3,000 crore now, the PM reiterated that such setbacks deprive citizens of essential services and infrastructure. Sources said he also pointed to how the same issues of land acquisition, forest and other clearances are flagged for delay in completion of most infrastructure projects. 'The PM said these need to be resolved by officers themselves,' a source added. Cab secy briefs on actions taken after last Pragati meeting TOI has learnt that Cabinet Secretary T V Somanathan on Wednesday gave an update on the actions taken after the last Pragati meeting in which the PM had issued directions. Sources said Somanathan informed that officers have been deployed for visiting different states to take stock of Jal Jeevan Mission projects. The PM had flagged in the last meeting that he had been receiving several complaints regarding piped drinking water programme in rural areas and had sought field visits of Central govt officers to find the nature of problems and to suggest solutions. Sources said a large share of complaints identified were no supply of water even after laying of pipelines, homes still waiting for getting taps within premises, and bad quality water. They added that Somanthan also told the PM that a module on land acquisition is being prepared to train new recruit civil servants and also to improve land records in border areas in Arunachal Pradesh.
Time of India
24-05-2025
- Business
- Time of India
No pre-launch sales: Rera makes public notice mandatory before registration in Gurgaon
Gurgaon: Developers must now publish notices in newspapers soon after applying for Rera registration of their housing projects, according to a new directive from the real estate regulator. The mandatory public disclosure, announced by Rera (Gurgaon) chairman Arun Kumar, marks a crucial step in preventing pre-launch sales — often conducted without formal approvals — and protecting homebuyers' interests. The public notice requirement ensures transparency by officially announcing that a promoter has applied for, but not yet received, Rera registration. "Now, it will be difficult for a promoter to mislead an investor into booking a unit during the pre-launch stage. Buyers can now track a project's registration status in real time," said Kumar, adding that the public notice will not only validate assertions made by promoters but put Rera's accountability in the spotlight also. Gurgaon — a hyper-active real estate market — has long struggled with pre-launch sales, wherein developers, sometimes in collusion with real estate agents, begin marketing and even selling units without Rera's clearance. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar Undo Such practices violate the Rera Act, 2016, and lead to numerous buyer grievances, including hidden encumbrances like high-tension lines, roads running through plots and inadequate infrastructure. "The notice will indirectly regulate pre-registration advertisements and promotional activities. It will also inform buyers that the project is not yet registered with Rera, encouraging them to verify all claims and approach the regulator for authentic details, including deficiency in infrastructure," Kumar said. In the past, several premium projects in the city were sold out entirely before receiving Rera registration, leaving buyers with little legal recourse in case of delays or irregularities. The move aims at empowering homebuyers with timely information before taking investment decision. The authority also clarified that the public notice will contain only limited information to preserve the confidentiality of the registration process. However, it will be sufficient for a prospective buyer to understand the residential project's status and exercise caution before making any commitments. Get the latest lifestyle updates on Times of India, along with Brother's Day wishes , messages and quotes !
Time of India
13-05-2025
- Business
- Time of India
Ghaziabad: Over 2,400 flats under RERA rehabilitation clause yet to be completed
GHAZIABAD : In 2022, when nearly 270 buyers of Jaypee Greens Kalypso Court became the first in the country to take over the stuck project and see through its completion under UP-Rera's rehabilitation clause, nearly 2,400 flat owners, whose investment were stuck in six stalled projects in Ghaziabad had hoped for reprieve from the real estate regulator too. But over the years, none of the 2,491 flats in Antriksh Sanskriti , La Casa Ansal Aquapolis , Utopia Estate , ASG Apple 7 and Spring View Heights along national highway 9 and Vasundhara Grand in Atal Chowk have been handed over. The projects were brought under the Rera Act in 2021. Ashish Kumar, who is waiting for his flat in Antriksh Sanskriti for a decade, said, "None of the flats in our society has been delivered in all these years forcing us to pay home loan EMIs and rents." The developer began construction of the project in 2015 and was to complete it by July 2022. Under Section 8 of UP Rera Act, a project whose registrations is revoked—if a promoter has violated the terms and conditions of the registration or committed irregularities—can be brought under the rehabilitation clause, if the builder and at least 50% of the homebuyers approach the real estate regulator with a rehabilitation plan. Once it is brought in, the authority constitutes project advisory and monitoring committees to oversee the development work. Though taking away a stuck project from the developer and handing it over to others for completion seems to be a quick fix but the success of the model has been tepid. Real estate and legal experts told TOI that for the model to be successful, it is important for homebuyers to be united in the cause of completing the project. In case of Kalypso Court, homebuyers' association, the builder and UP-Rera were on the same page, they said. "But in most of the six other stalled projects, there were differences between the two parties. In such cases, the Act alone cannot come to the rescue, which explains the delay," real estate lawyer Rajiv Ranjan Raj said. An official from UP Rera said paucity of funds was also among the major impediments delaying the completion of the projects. "In many cases, developers, who take up projects under the Act, don't find it lucrative or economically viable as the cost of completing the construction cannot be recovered from the sale of unsold units. In some cases, homebuyers have not cleared their dues," the official said. According to Rera data, 985 in Antriksh Sanskriti, 660 in Spring View Heights, 320 in Vasundhara Grand, 192 units in La Casa Ansal Aquapolis, 184 in Utopia Estate and 150 in Apple 7 are to be completed under Rera guidance.
