Friday, December 9, 2016

Maharashtra RERA Rules Published!

Study the draft of Maharashtra Real Estate Regulatory Authority - RERA Rules & submit your suggestions and objections till December 23, 2016:




Related Story:


1) Maha govt publishes draft of RERA rules

2) Maharashtra finalises draft rules for Real Estate Act

3) Maharashtra's new Real Estate Act draft lacks ‘transparency’

4) Maharashtra's draft housing rules mandate greater compliance from builders

5) Maharashtra Releases RERA Rules For Public Suggestions, Buyer Groups Allege Dilution

6) New housing rules: Builders can now sell parking space in Maharashtra

7) Should you wait for the Real Estate Regulation Act or buy now?

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3 comments:

  1. We don't want yet another rule! We want execution! Talk is 10% & execution is 90%. Get rid of corruption from bureaucracy first & then talk about rules.

    ReplyDelete
  2. -----------------------FROM THE DOCUMENT------------

    The Promoter shall give possession of the Apartment to the Allottee on or before................. day of

    ..............20___ If the Promoter fails or neglects to give possession of the Apartment to the Allottee on

    account of reasons beyond his control and of his agents by the aforesaid date then the Promoter shall

    be liable on demand to refund to the Allottee the amounts already received by him in respect of the

    Apartment with interest at the same rate as may mentioned in the clause 6 herein above from the date

    the Promoter received the sum till the date the amounts and interest thereon is repaid,

    ----------------------------END-------------------------------

    Question : What is beyond his control ? This is again an open ended rule which can be interpreted in multiple ways. The RERA doc should list what is counted as "beyond control" clearly

    ReplyDelete
  3. New law or not, as of now it is still better to buy ready possession flat with all approvals as we don't know how RERA will act in states like Maharashtra.
    Legally, state govt can only make the RERA law strict but can't dilute it. Therefore, any dilution of RERA in MH is bound to face legal consequences.
    Buyers here should send their suggestions till 23rd Dec 2016 to following -

    e-mail -
    suggesstionsonrera@maharashtra.gov.in

    or by post to -
    Principal Secretary, Housing Department, Mantralaya, Mumbai 400032

    Maharashtra's new Real Estate Act draft lacks ‘transparency’ -

    Draft rules of the new Real Estate (Regulation & Development) Act, 2016, (RERA), notified by the Maharashtra government on Thursday have been diluted to favour errant builders, property experts and housing activists said. They claimed that they lacked transparency and flat buyers will continue to remain in the dark as the draft gives developers a loophole not to disclose crucial aspects of projects.

    http://realty.economictimes.indiatimes.com/news/industry/maharashtras-new-real-estate-act-draft-lacks-transparency/55907057

    Housing rules: Maharashtra dilutes key safeguard for buyers -
    Allows more flexible use of funds in escrow account for a housing project

    http://indianexpress.com/article/cities/mumbai/housing-rules-maharashtra-dilutes-key-safeguard-for-buyers-4419651/

    ReplyDelete