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The First Two Mumbai Builders to Register Under RERA Act

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Rera Registration: The First Two Mumbai Builders Registered

1st May 2017 was a red letter day for the Maharashtra real estate sector with the onset of Real Estate Regulatory Authority (RERA) Act. The much-awaited regulation brought in a huge air of relief to the thousands of home-buyers in Maharashtra, especially Mumbai and its sub-urban regions. It is certainly a huge moment of celebration for homebuyers, who have often been innocent victims of powerful real estate developers, bringing an end to years of agony and despair. Having said that, builders have also accepted the new act with open arms. They are hopeful that the act will help to bring more transparency amongst buyers and also earning their trust.

In a historic landmark, two of the Mumbai’s real estate giants – Mayfair Housing and Raunak Group are amongst the first to register their housing projects, Mayfair Vishwaraja and Unnathi Woods respectively, under RERA Act. Gautam Chatterjee, who holds interim charge of the state regulator, said that the registration process will be completed in the next few days.  Nayan Shah, CEO Mayfair Housing, was the first to upload his project plans on the MahaRERA website on Monday followed by Rajan Bandelkar of Raunak Group.

Under the RERA Act, it is now mandatory for developers to upload all necessary details about their projects including experience of last five years, development agreement, estimated cost of the project, cost of land, sanctioned plans, flats sold so far etc. along with an escrow bank account number. Builders are also required to submit an affidavit stating that all information provided by them during registration of their project is according to RERA regulations.

Speaking on the occasion, Mr Nayan Shah, CEO Mayfair Housing, said “We are very proud to declare ourselves as the first real estate company in India and Maharashtra to comply with the MAHA RERA regulations and rules for our affordable housing project. RERA is a great initiative by GOI and GOM and we extend our full support. We always were a RERA COMPLIANT COMPANY and we will continue to make all efforts to be better and keep the interest of our Customers above all. We have uploaded all details of our project named Mayfair Vishwaraja located at Titwala (East), behind the Maha Ganapati Mandir. We have already kept on hold all the brochures and other sales related promotions including the project specs until the time the project is registered. We shall release the same only after we have done a thorough review of the same and have them in compliance as per the rules framed under the MAHA RERA ACT”.

Rajan Bandelkar, Director Raunak Group, also remarked, “Raunak Group has always complied with all necessary guidelines and we are happy to follow the RERA guidelines. We have registered one of our projects at Thane, Unnathi Woods – Phase 7 and are also in the process of getting all our other projects registered as well. The registration process was pretty simple and the MahaRERA website is really very user-friendly.”

There are total four wings in the state RERA office, which are Finance, Legal, Technical and IT & Administration. Without registration builders are not allowed to advertise or promote any marketing activity related to selling, booking, sale offers or invite people to purchase plots, flats or building – both residential and commercial. Before application, the project needs to be duly approved by respective authorities like BMC.

Gautam Chatterjee said, “Developers have been warned to restrict themselves from providing inaccurate or false details during registration or else they might be subject to heavy penalties. The new law will bring more positive approach and self-discipline in the industry.”

Mayfair Housing and Raunak Group have led from front to set an example for other real estate developers to follow. Hopefully, RERA Act will now be able to alter the entire real estate scenario in the state and bring relief to both developers and home-buyers.

Special Reports

INIT Makes The Difference To The Ajmera 1150 Home Delivery

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INIT Makes The Difference To The Ajmera 1150 Home Delivery

Ajmera Realty is a trusted name in the real estate industry. They joined hands with INIT  to delivery 1150 homes. INIT had to come up with something impressive as Ajmera holds a legacy of 42,000 happy customers in the 49 years of their operations.

Ajmera Realty wanted to show their delivery commitment and dedicates a rare tribute to all its customers by delivering 1150 homes to 1150 families this festive season. They wanted their customers to know that this remarkable feat has been made possible only because of them and their faith in the company.

This was the brief the design agency worked on and INIT came up with different TVCs to really capture the epitome of this home delivery moment. They called it – ‘Delivering Homes, Delivering Happiness’. The ads and TVCs went on social media platforms as well as national television channels.

In order to showcase Ajmera’s strength and focus towards delivery, they created four Tvcs that catered to different target audiences. The whole idea behind the TVCs was for people to understand the magnitude of Ajmera Realty and the brand it has become today.

The first TVC shows two men playing chess. The father is questioning about a new car and designation of his prospective son-in-law. The father objects to her daughter staying in a rented home and this is where the son-in-law breaks the news – ‘ghar se leke khushiyan tak, sab kuch permanent hai’. The Tvc is aimed at youngsters, so they realize that to buy a home age is not a factor. It can be bought at any time and the youth should really give it a thorough consideration.

The second TVC motivates the consumers to think about owning a home instead of switching to a new rental home often. The ad shows a man complaining about changing his rented home 3 times in the past 5 years and talking about the problems that tag along in such situations. The message is lucid, ‘ghar nahi developer badlo. Temporary ghar ko ab permanent karlo’.

Govind Rai, Director, INIT  said, “Ajmera Realty wanted to make an impact with 1150 deliveries at one time. Being in the industry for years we know the importance of such a gigantic step. We offered them a unique strategy that would appeal to all classes of people and at the same time make them take notice of the brand.”

The next ad is aimed at the people who have bought a flat with Ajmera. In a meeting room a man is giving a presentation about the revenue and sales to his boss and team mates. However, he inculcates his new home and amenities in his dialogue. Everybody applauses and the vo comes as ‘Sabko pata hai ke khud ka ghar milna koi celebration se kaam nahi’. The idea behind the ad is the happiness that one can’t deny about owning a home. No matter who it is and where he lives or works at, it is the happiest day of his life when he buys a home and the lingering thought behind it – why can’t the next ‘he’ be you?

Dhaval Ajmera, ‘With the possession of 1150 homes we wanted to send a wave of happiness to our customers who would receive possession and also give people the hope that it is very much possible for them too. We are giving possessions in 6 projects all with different budgets and locations. Thus, conveying another fact that we offer a range of homes according to different target audience.”

The possession is being given in Ajmera Aeon and Zeon, New Era, Ajmera Stone Park, Ajmera Pristine, Villows and Ajmera Aria projects.

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Pune Smart City Targets Rs 100 Crore Grant From World Bank

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Pune Smart City Targets Rs 100 Crore Grant From World Bank

On the basis of designing performance-based programmes for smart city, the Pune Smart City Development Corporation Limited (PSCDCL) is eyeing for Rs 100-crore grant from the World Bank. The central government has set criteria to give out money which includes smart city projects their progress and execution. However, PSCDCL is losing out on the progress criterion as its launched projects are moving at a very slow speed.

Rajendra Jagtap, CEO PSCDCL, said, “We have decided to take part in the fast-track round to get grants for Pune’s smart city projects. There are three categories, which we need to fulfil. Except for some problems faced in the execution of projects and their progress, we are sure we are fulfilling all the mentioned criteria. The World Bank will be giving Rs 100 crore for every city in every state that fulfils the criteria. We are quite ahead in Maharashtra, compared to other cities in the state. So, we are confident of getting Rs 100 crore. Before I took charge as the CEO, there was a delay in floating tenders for the Smart City company. Therefore, there has been a little delay in execution and progress of the projects.”

“Owing to people’s protests against some projects, we faced a problem in starting and executing projects. The Aundh area street design project is one such example. Now, we have decided on people’s participation before starting projects in their area,” said senior PSCDCL official explaining reasons for a delay.

The 14 smart city projects that have kicked off are:

  • Livelihood through The Lighthouses of Pune;
  • Slum rehabilitation of Dr Babasaheb Ambedkar vasahat Aundh;
  • Street and pedestrian walkway;
  • Central command and control centre for public transport;
  • Vehicle health monitoring;
  • Passenger information through mobile app and website;
  • City common mobility card;
  • Traffic demand modelling project;
  • Pune maximum solar city;
  • Plastic bottle recycling project;
  • Smart lighting;
  • 100 percent grievance redressal system for water with the help of PMC care;
  • Quantified cities movement;
  • The garbage vehicle monitoring management system.

Out of these 14 projects, The Lighthouses of Pune, PMC care, plastic bottles recycling project, mobile application project and the central command and control centre for public transport project have been completed. Nonetheless, the remaining projects are still underway even after starting more than a year ago.

A screening framework has been prepared, comprising three sections — Part A, B and C in order to facilitate the screening of states and short listing of SPVs which are interested in participating in the Indian Smart Cities Programme. SPVs should be presented on November 30 after all information is furnished by the state. December 11 is the last date of receiving the submission from the state/union territory.

Also Read: Almost 52 Percent Of Residential Units Registered Under MahaRERA Remain Unsold: Report

 

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Special Reports

FS Realty Bags The 9th Realty Plus Excellence Awards (North) 2017

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FS Realty bags the 9th REALTY PLUS EXCELLENCE AWARDS (NORTH) 2017

RealtyNxt congratulates FS Realty for winning the Emerging Developer of the Year award at the 9th Realty Plus Excellence Awards 2017 (North). The First Stone Group is an Asset Management Company with an array of verticals and a single vision of integrating excellence and enriching people’s lives. First Stone Realty is its vertical which is doing some remarkable work in the real estate sector.

In the first year of its inception, the company has launched 9 projects and has over 6.5 million sq ft under construction. FS Realty is building upon those small desires and creating abodes that truly inspires a good life. Not only an innovative and forward-thinking company but it works with some of the best talents from the country and abroad which sets it apart from the rest.

All of their residential projects have a clearly defined niche which in turn targets a set audience. They offer a range of homes right from luxurious, royal and palatial living to budgeted, near to nature and customized homes. No matter what your dream home is, FS Realty has etched it to reality.

Charan Khangarot MD and CEO said, “It is very motivating when your efforts are not only noticed but also awarded. We thank the Realty Plus Excellence Awards for recognizing us. We could not have asked for more. Overwhelmed and boosted, there is a lot in store from FS Realty, the team is all the more excited to put its best foot forward”.

Their projects truly define their vision of ‘Shaping a better world’. FS Realty became the first developer in Rajasthan to get all their projects RERA compliant.

Jaypore – The Palatial Living, located in Vidhyadhar Nagar, is a project that offers ancient aristocratic flavors for modern day maharajas. It is an ultra-luxurious palatial abode that encompasses all the requisites of a royal home.

The Crown is a jewel located on the Tonk Road. It offers 3 and 4 BHK homes which provide the utmost luxury and solace at a price that will easily fit your budget. The Crest is spread in 65000 sq ft landscape surrounded by tropical gardens. It offers 3, 4 and 5 BHK homes located in Jagatpura.

Coronation offers customers meticulously designed 2, 3, and 4BHK apartments which have been exclusively customized to complement the taste of true connoisseurs. Pinnacle is 3 and 4 BHK apartments will impress those who wish to view the entire world beneath them. It stands 20 stories high and is set to become an architectural marvel with a panoramic view of the city.

FS Realty customers have genuine faith in the company and its projects because they offer complete transparency and even customize payment plans for them.

Also Read: INIT Mumbai Wins The Prestigious Realty Plus Excellence Awards 2017

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