RERA Master

CA Ramesh Agrawal The Haryana RERA (HRERA) has ordered a Gurgaon based developer i.e. Spaze developers to pay delay possession charges (DPC) of Rs 2 crore to homebuyers for failing to deliver flats in time. HRERA Chairman, directed Spaze Developers to pay the compensation to the homebuyers while disposing of the complaints by over 80 allottees in multiple projects. For one project of Spaze Privy AT4 at Sector 84, the developer needs to submit to Authority, the documents related to Deed of Declaration, sanction of Floor Area Ratio (FAR) and proof about final offer of possession. The Chairman has issued notices to the developer for violation and non-completion of the project within the stipulated period and for not applying for extension of registration within the prescribed time. Sana Realtors, the promoter of Precision Soho Tower in Sector 67, was told to pay Rs 3 crore DPC for every month of delay till the actual handing over of the project. The authority has also been direc

  CA Ramesh Agrawal UP Real Estate Regulatory Authority UP-RERA has carried out colour coding of all the 781 housing projects being executed in the city to give homebuyers an idea about the safety of their investment in property. The regulatory body’s assessment of three months has revealed that only 35.6% housing projects are completely safe investments. In addition, the regulatory body has uploaded the list of housing schemes along with their colour codes on the website. The properties have been divided into 3 Colour Categories i.e. Green, Orange and Red after verification of four parameters. The 4 parameters are (i)                   Lucknow Development Authority (LDA)’s due approval of layout map, (ii)                 complaints of ongoing projects against Promotors, (iii)               Builder’s Financial Status, & (iv)               developer’s efficiency records for previous projects. Green Code: Projects which fulfil all four parameters are safe for inve

CA Ramesh Agrawal In Past 3 Years, the residential projects have been delayed too much in all cities and specially Gurugram. One Builder of Gurugram is ILD   which has recently been directed by the Department of Town & Country Planning (DTCP) to prepare and submit an action plan within a week for their completion. If the ILD fails to fulfil the requirement within the specified time, then the department will recommend of registering an FIR against builder. The Homebuyers of ILD Arete (Sector 33) and ILD Greens (Sector 37C) met the District Town Planner (DTP) for over three years delay in completion of work & various lack of amenities in the projects. The Homebuyers are planning to file a complaint against the Builder in Haryana RERA. The project ILD Arete was launched in 2013 and now in 2020 it is only 60% Complete. ILD’s another project, namely ILD Greens, was launched in 2008.   One of the homebuyers who bought flat in this project said the possession was supposed to