Modify Search

RERA Deadline ends- no unregistered project can advertise or sell flats anymore.

02, August, 2017


From now, no unregistered project can advertise or sell flats

Less than 800 real estate projects were registered with the Real Estate Regulatory Authority (RERA) on Monday, the deadline for builders to do so. This against an estimate of over 4,000 projects to be registered with RERA in the state, implying a compliance rate of a mere 20%.

As per law, the projects that have missed the deadline are liable to a penalty amounting to ₹10,000 every day till they register with RERA. However, Kapil Mohan, Principal Secretary, Housing Department, said that the focus was on getting all projects registered, rather than penalising them. “We will conduct outreach projects at the district level to get realty projects registered with us,” he said.

However, starting Tuesday, no unregistered project can advertise in any media or carry out sale of any flats till the project is registered with RERA.

Mr. Mohan said that while they were ready to consider a delayed registration, violation of advertising and sale rules prior to registration will be acted upon strictly. “We will issue notices starting August 1 for unregistered projects advertising or selling flats,” he warned.

The realty sector, however, is still making a strong case for an extension of deadline for registration.

Suresh Hari, secretary, CREDAI-Bengaluru Chapter, said that there have been several issues with the RERA website including a limited 5 MB data allotted for uploading all relevant project documents which he said was clearly insufficient.

“Goa has extended the deadline by another three months, which indicate that the State government’s argument that the deadline was part of the RERA Act, 2016 and hence could not be changed by the State, was wrong,” he said.

Loopholes still remain

As part of registering their projects with RERA the project promoters need to submit a copy of their draft sale agreements and sale deeds. RERA prescribes a common format for the agreement and deed, which is yet to be notified by the housing department.

“Draft sale deed and agreement was part of the draft rules notified in October 2016. However, the final notification of these formats is yet to happen. This has given the builders an opportunity to continue with their unilateral agreement, hurting the interests of home buyers,” said M.S. Shankar, for Fight for RERA – Karnataka Chapter.



Source: www.thehindu.com


Propfrill.com ( GTF Technologies ) shall neither be responsible nor liable for any inaccuracy in the information provided here and therefore the customers are requested to validate the information from the respective developers before making their decision for purchase of properties. The information provided herein have been collected from publicly available sources, and is yet to be verified as per RERA guidelines.*

Click here to go through our terms of use as per RERA guidelines.
Unit of GTF Technologies
Disclaimer: Propfrill.com is a platform which acts a medium for allowing people having converging interests involving real estate transactions, namely the buyer/tenant and owner/broker.Propfrill.com is merely a preliminary medium of contact and exchange of information, users are strongly advised to have independent third party verifications (whether marked verified or not) prior to proceeding with any transactions involving real estate. The onus of finding a genuine property, be it for purchase or rental purpose, lies on the user. This website is meant only for information purposes. It should not be considered/ claimed as an official site...    Read More...