Real estate developers would soon have to divulge details of all projects, litigations, track record of promoters and declare there would be no discrimination against any allottee. The ministry of housing and poverty alleviation has formulated draft rules under Real Estate (Development and Regulation) Act 2016, The Real Estate (Regulation and Development) Act 2016, which …
Category Archives: RERA
Minimum 50% Fund in Project’s Account is a Must: RERA
The policies under RERA (Real Estate Regulatory and Authority) are made very intelligently from the policy makers of this country. Its new clause that every real estate project must have its own account and that account should have at least 50% funds from the buyers, has a potential to end the miseries faced by many …
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Outlining Coordinates in RERA is a Big Step Towards Transparency
Real Estate Regulatory and Authority (RERA) has brought laws which can organise the real estate sector of India. The policy makers have carefully read the grievances of buyers, promoters, agents and have made laws according to that. One field where buyers often get cheated is or a builder misuses government policies’ loopholes is the undefined …
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Carpet Area – An Issue in RERA Which May Need a Minor Change
When buying a house, every buyer takes care of the area for which he pays. Generally, many promoters give information on the built up area rather than the carpet area. This makes it easy for them to advertise their flat as a buyer thinks that he is paying less for more area. But, the reality …
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Should MOFA be Retained?
MOFA (Maharashtra Ownership Flats Act), is one of the oldest housing Act. It came into the being in the year 1963 to regulate promotion, construction, management and transfer of flats sold on an ownership basis within Maharashtra. It laid down the responsibilities of developers and the rights of flat purchasers. In 2011, when government came …