Latest news with #RERA
Time of India
2 days ago
- Business
- Time of India
Unified RERA portal likely by March-end to help track developers and projects
Pune: Homebuyers would soon be able to track real estate projects and developers across India through a single digital platform. The Union housing and urban affairs ministry and All India Forum of Real Estate Regulatory Authorities (AIFORERA) are working together to develop a unified RERA portal. Tired of too many ads? go ad free now AIFORERA officials told TOI on Monday that the integrated IT platform —expected to go live by the end of March — would unify all state real estate regulatory authority (RERA) websites under a single, standardised format. The move aims to simplify navigation, improve transparency, and help buyers make informed decisions. "Currently, buyers must visit separate state portals — each with a different layout — to gather information about developers and projects. The new system will standardise this process and create a user-friendly interface," said a senior AIFORERA official. He said a detailed proposal would be submitted to the ministry in August. "It is a humongous task to compile all the data, but we are on it with the ministry's support and have reached out to all states," said the official. Officials said inputs would be taken from technically advanced state RERA platforms — like those of Maharashtra and Gujarat — to design the portal. "These states have sophisticated systems. Their developer modules will serve as reference points," an official added. The portal would allow users to check quarterly project reports, construction timelines, developer history, and the status of approvals, such as occupancy and commencement certificates. Information on residential and commercial developments across all states would be accessible at the click of a button. Tired of too many ads? go ad free now "This system will benefit all stakeholders. It will not only help buyers verify credentials easily but also aid regulatory bodies in effective enforcement of RERA Act," said another AIFORERA member. All projects registered under RERA are required to upload progress reports and meet deadlines, including any granted extensions. The centralised system would integrate this data for nationwide access. While citizen groups have welcomed the initiative, they have flagged gaps in current state portals. "Many websites lack mandatory updates like commencement or occupancy certificates. Developers often skip uploading quarterly reports. Unless these shortcomings are addressed, a central portal may not achieve its full purpose," said Manohar Das, a citizen activist. Another activist S. Joshi said that many builders float separate special purpose vehicles (SPVs) for each project, making it hard to trace a group's track record. "The central portal must ensure all SPV and parent company data is linked in a transparent manner so there is a clear understanding of the track record of a particular builder,'' said the activist. Some members of the Central Advisory Council (CAC) have also urged the ministry to ensure that the platform is truly citizen-centric and guards buyers against misleading claims. "It should be citizen friendly and ensure that the data loaded is updated continuously," said a CAC member.
Time of India
3 days ago
- Entertainment
- Time of India
Kolkata team is quiz winner as two-day Patna Mind Fest concludes
Patna: The team comprising Samanway and Piyush on Sunday won the Open Category General Quiz, on the last day of the two-day Patna Mind Fest (PMF) 2025. Both belong to Kolkata. While the team of Calvin, Baibaswata and Anand stood second, Jayakanthan, Sangeeth and Zaman, comprising another team, won the third position. In the college category, the IGIMS team of Soham, Aman and Utpal clinched the top spot. The team of Prateek and Swetank and that of Kumar Vivek and Shashank Kumar stood second and third, respectively. In the school category, the team comprising Ishan Bhushan, Utkarsh Singh and Aayush Mishra won the first position. They were followed by the teams of Nand Kishore, Samantak, Sanskar and Yuvraj, Adhrit and Prateek in second and third positions, respectively. The Cryptic Crossword, the first event of day two contested by individual participants, saw Saksham Singh topping the rank in the school category. He was followed by Shubhi Srivastava and Nanya Dev Singh on second and third positions, respectively. While Adya Singh topped the college category, Shashwat Sanjeev and Vandita Vidisha were at second and third positions, respectively. In the open category, Shraddha Suree clinched the first spot leaving behind Dhairya Pandey and Calvin on second and third positions, respectively. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo There were 220 participants who sat to solve the crossword puzzles across the three categories. The results of the creative writing contests in Hindi and English, which took place on day one, were declared on Sunday. Samrat Sameer, Muskan Kumari and Anushka Vidyarthi won top positions in Hindi creative writing in open, college and school categories, respectively. Bhavya Nathani, Ankita Singh and Devyangana Kishore won first positions in English creative writing in open, college and school categories, respectively. R U Singh (retd) IAS, was the chief guest on the occasion. Other guests included Vivek Kumar Singh, RERA chairman; Divesh Sehra, secretary, SC&ST welfare department; Pranav Kumar, secretary, home department and Rachana Patil, secretary, general administration department and convenor of PMF 2025.
Time of India
4 days ago
- Business
- Time of India
BM Property: Property market gains investor confidence again
rental yields Knight Frank In an era of volatile markets and economic uncertainty, one asset remains resilient—real estate. From first-time buyers to seasoned investors, property is increasingly seen as a reliable, long-term investment. Real estate has long been valued as a tangible asset that appreciates over time. In India, growing urbanisation, improved infrastructure, and rising disposable incomes are driving sustained demand and boosting investor Bengaluru-based software engineer Shruthi Rao, buying her first apartment wasn't just about owning a home—it was about securing her future. 'I looked at mutual funds and stocks, but nothing gave me the kind of peace of mind real estate did,' she says. 'Even if prices fluctuate in the short term, property always gains value over time.'Property developers echo this sentiment. Rajiv Mehta, a city-based builder known for mid-segment and luxury projects, believes real estate remains one of the most stable long-term investments. 'Unlike equity or gold, real estate not only appreciates in value but also provides consistent rental income,' he explains. 'We've seen clients buying second or third homes purely for investment purposes.'In cities like Bengaluru, Hyderabad, and Pune, the boom in IT and startup culture has driven a surge in property demand. This trend is further supported by government initiatives like PMAY (Pradhan Mantri Awas Yojana), RERA reforms, and increased investment in infrastructure. Real estate also offers a strong emotional and cultural sense of security. 'Land is still seen as a family asset in Indian households—something we pass on to the next generation,' says Anil Kumar, a retired banker and proud owner of a plot on the outskirts of Mysuru. 'I bought it 10 years ago for `5 lakh. Today, it's worth `40 lakh. No other investment delivered that kind of growth.'Withof 2–4% and strong appreciation potential in suburban pockets, many millennials are entering the real estate market early. Investors are also exploring tier-2 cities for better returns. However, experts urge caution. 'Check legal status, RERA registration, builder track record, and infrastructure plans,' says consultant Anusha Nair.'A wise choice can outperform traditional investments.'For NRIs and global investors, Indian real estate remains appealing due to favourable exchange rates and emotional ties to the homeland. Even post-pandemic, the housing market shows resilience. Areport notes a 21% year-on-year rise in housing sales in Q1 2025, reflecting strong buyer confidence in long-term, tangible property say that while financial markets may swing, property offers a sense of stability, utility, and long-term wealth creation. As more buyers begin to view homes not just as places to live but as avenues of growth, real estate continues to prove itself as one of the smartest investments for the In cities like Bengaluru, Hyderabad, and Pune, the IT and startup boom has fuelled property demand—further boosted by government initiatives such as PMAY, RERA reforms, and increased investment in infrastructure development across urban regionsPic caption: Housing sales up 21% in Q1 2025, signalling strong buyer confidence
Time of India
5 days ago
- Business
- Time of India
Odisha Real Estate Regulatory Authority (ORERA) reforms to add to buyers' interests
BHUBANESWAR: Besides the Apartment Ownership Act, the recent reforms brought by Odisha Real Estate Regulatory Authority (ORERA) have the potential to protect homebuyers' interests, along with bringing changes in the authority's operational framework amid a growing real estate market. One of the key reforms has been the integration of local enforcement wings with ORERA, substantially enhancing its ability to execute orders effectively. And the reforms extend beyond mere structural changes. District collectors are now required to include RERA provisions as a permanent agenda in their monthly reviews and report illegal constructions. Additionally, the housing and urban development department will work in tandem with revenue and disaster management department to ensure proper execution of penalties under the Orissa Public Demands Recovery Act, 1962. 'Strengthening the authority is our primary focus. We need to work with the state machinery to ensure ORERA's effectiveness. Some of the key recommendations have been endorsed by the state govt recently and we are working on more such reforms to make the authority stronger. Awareness of the public is key to all of these,' Asit Kumar Mohapatra, ORERA chairperson who was appointed this May, said. Real estate analyst Malay Mishra sees these changes having far-reaching implications, particularly in terms of order execution. 'We hope that the departments and ORERA work in tandem to achieve functionality of the authority,' he said.
Time of India
5 days ago
- Business
- Time of India
RERA slaps Rs 38L penalty on realty firm for layout violations in Telangana's Mokila
HYDERABAD: The Telangana Real Estate Regulatory Authority (TGRERA) has imposed a penalty of Rs 38.5 lakh on a realty firm for statutory violations and deviation from approved plans at a villa project in Westend Greens, Mokila, Ranga Reddy district. Tired of too many ads? go ad free now The promoter was found to have violated Sections 11, 14, and 61 of the Real Estate (Regulation and Development) Act, 2016. TGRERA directed an immediate halt to marketing or sale of villas until the project is formally registered with the authority. The complaint was jointly filed by five residents of Westend Greens - Tumpi Shome, Sailaja Nukala, Monika Singh R, Tarun Dhar, and Sandeep Josyula - who alleged the builder failed to deliver possession-ready units despite collecting full payments towards construction, taxes, clubhouse and amenity charges, and maintenance. "Approved by HMDA in 2011 for 117 villas, the project has seen sluggish progress. In over a decade, only 20 villas were declared fit for occupation, and by Feb 2024, just 30% of the construction was complete," the complainants stated pointing out that the developer applied for layout revalidation in 2017 and 2019, but failed to update buyers on its status. Despite this, the project website continued to carry the original HMDA approval, which TGRERA deemed misleading under Section 12. Residents, many of whom have been living there for two to three years, also flagged poor infrastructure. Sewage waste is being dumped in an open pit, violating National Green Tribunal norms, as no tank or treatment facility exists. The compound wall remains incomplete, high-tension cables are exposed, and water supply is erratic due to non-functional pumps. Though payments for the amenities were made, buyers were recently asked to clear dues to a liquidation services firm, raising concerns over the builder's financial health. Tired of too many ads? go ad free now TGRERA has asked the promoter to pay the penalty within 30 days and seek HMDA approvals afresh. If not obtained, the developer will be held liable under Section 18 to refund all money with compensation. Upon securing approvals, the builder must register the project under RERA within 10 days, failing which further legal action may follow.
