NAR INDIA Convention 2017

NAR INDIA Convention 2017

9th NAR-INDIA Annual Convention

9th NAR-INDIA Annual Convention

9th NAR-INDIA Annual Convention

Dear Realtors,

We are EXCITED to announce The TITLE SPONSOR for 9th NAR-INDIA Annual Convention

Please welcome India's topmost Real Estate Brand - HIRANANDANI as the Title Sponsor

Hiranandani present 9th NAR-INDIA ANNUAL CONVENTION 2017

On this special occasion, we have opened up few Delegate Registration at a very Special Price for you

₹ 11,000 for NAR-INDIA Members

₹ 12,000 for Non NAR-INDIA Members

This Special Offer is only for the next TWO DAYS

For Registering and payments, please call

Raju Achpilia on +919820137078

Ritesh Gupta on +919820687275

Check out all about the Convention at http://narindiaconvention.com/

MahaRERA gets 55 complaints against builders by homebuyers

These homebuyers of current projects that are registered with MahaRERA have complained about issues including delay in delivery and builders not signing agreement with them

NEW DELHI: Homebuyers filing complaints against realty developers has picked up, and the total number of such complaints filed with the Maharashtra Real Estate Regulatory Authority (MahaRERA) has now risen to 55. The authority has started hearing these complaints and rulings in two cases are expected within the next few days, said a top MahaRERA official.

“We have received total 55 complaints from homebuyers of projects registered with MahaRERA so far. Out of these, six complainants have taken it to the next stage by sharing hardcopies of documents required for the same,“ MahaRERA chairperson Gautam Chatterjee told ET.“We have already concluded hearings of two complaints and the final hearing will be done by the end of this month.“

These homebuyers of current projects that are registered with MahaRERA have complained about issues including delay in delivery and builders not signing agreement with them.

The number of complaints aga inst projects registered with MahaRERA had touched 30 until August 18.

The regulator has already received around 13,000 applications for registration of ongoing projects. Of these, MahaRERA has already processed and registered over 8,000 projects. Information on all these registered projects will be available on the MahaRERA portal from September 1.

Apart from this, the regulator will also be looking into complaints of those developers whose projects need to be registered, but have not done so until September 1. The regulator has also suggested that homebuyers can send emails about ongoing projects -which need to be registered but have not done yet -directly to the regulator.

Chatterjee has already warned that MahaRERA is planning to take strict action against those realty developers whose ongoing projects remain unregistered even after September 1.

Credit : http://realty.economictimes.indiatimes.com 

NAR India

MahaRERA warns strict action against ongoing projects not registered until September 1

From September 1, information on all these registered projects will be available on the MahaRERA portal

MUMBAI: The Maharashtra Real Estate RegulatoryAuthority (MahaRERA) is planning to take strict action against realty developers whose ongoing projects would remain unregistered even after September 1, said a top official of the regulator.

“We have received 12,700 applications for registration of ongoing projects. Out of these, we have already processed and registered 8,000 projects. Remaining applications will be processed over the next one week,” said MahaRERA chairperson Gautam Chatterjee. “We will deal with those (project developers) required to be registered but not registered until September 1 in a strict manner.”

From September 1, information on all these registered projects will be available on the MahaRERA portal. Following this, homebuyers can send emails about ongoing projects, which are required to be registered but have not registered so far, directly to the regulator, he said on the sidelines of a FICCI- Grant Thornton Advisory conference here.

So far, the regulator has received total 30 complaints from homebuyers of ongoing projects and most of them are related to the issue of delay in delivery.

MahaRERA has already taken a decision to slap a minimum penalty of Rs 1 lakh or an amount equivalent of its registration fees, whichever is higher, for ongoing projects registration applications to be received between August 3 and August 16.

The project registration fee ranges from minimum of Rs 50,000 to Rs 10 lakh depending on the size of the specific project.

This quantum of penalty was applicable for all applications received in the office of MahaRERA until 5pm of 16 August. Applications made for registration of ongoing projects after August 16 will be heard on case-to-case basis and the penalty will be decided by the authority. The builder then will have to explain as to why the application cannot be rejected.

The government enacted the Real Estate (Regulation & Development) Act 2016 and all the sections of the Act have come into force with effect from May 1 this year. Maharashtra was one of the first states to notify its rules under the Act and establish authority MahaRERA.

The builders had to register their ongoing projects with their respective state RERAs within three months and deadline for the same was set at July 31. Without registering their ongoing projects, the developer is not allowed to undertake marketing or selling of their projects.

As the rules, if the promoter allegedly contravenes the provision of Section 3 – it deals with registration, selling and marketing of new and ongoing projects - he will be liable to pay penalty up to 10% of the project’s estimated cost as determined by the authority.

Until the midnight of July 31, the regulator had received total 10,852 applications for registration of ongoing projects across Maharashtra. The regulator had earlier decided to levy a fine of Rs 50,000 on applications received after the deadline of July 31 until August 2.

The regulator had received 500 applications for registration of ongoing projects until August 2.

Credit : http://realty.economictimes.indiatimes.com