Connect with us


Government Aims To Build 51 Lakh Houses Under PMAY-Gramin In FY18




The government has set a target to build 51 lacs houses in 2017-18 to achieve its goal of one crore houses by 2019 under the revised Pradhan Mantri Awas Yojana Gramin. The government wants to cut down the construction time to 6-12 months from the earlier time period of 18 months to 3 years.

Pradhan Mantri Awas Yojana Gramin (PMAY-G) was launched in November 2016 which replaced the Indira Awas Yojana. So far, over 32 lacs houses have been completed in FY17 and 18 lacs houses in FY16. The budget allotted for the scheme this year is ₹ 15,000 crore and allocation per household has been doubled from ₹ 75,000 to over ₹ 1,20,000 while the overall area has increased from 22 to 25 square meters. 15 thousand houses have already been constructed so far, under the revised scheme.

According to a government official – the focus is to speed up the construction process as well as ensuring that funds are not misused.

Every house will be closely monitored and will be geo-referenced along with date and time on photographs of the house during the various construction phases to ascertain smooth and quicker verification.

According to a new government survey, out of 3.92 crore total deprived households’ as per Socio Economic and Caste Census data 2011, 2.26 crores households needs to be identified which are eligible for the scheme. The target is to build 3 crore houses for rural poor in next seven years.

Also Read: PMAY: Govt clears way for Implementation of Urban Housing Mission in Delhi


Property Brokers Gets Alert As Maha-Rera Indicate Towards A Mandatory Registration



Property Brokers Gets Alert - MahaRERA

Soon a notification would be issued by the Maharashtra Real Estate Regulatory Authority (MahaRERA), for the 1 lakh and odd property brokers across the state to get themselves registered at the earliest. In spite of the eminent deadline, barely 12 per cent property brokers in Maharashtra have registered under the MahaRERA.

Being the back bone of the real estate market, real estate agent channelizes the markets, in which the money is either brought by the promoters or by the buyers. But with the passage of time, there is a loss of trust of real estate agents among the general public. In order to reverse this scenario, government has formed the RERA with, Central Advisory Council and Real Estate Appellate Tribunal, so that people can regain trust in real estate agents and also setting up a strict penalty to the system for the defaulters, due to which this unbalance has emerged.

The new guidelines for the agents are being set by the RERA consultants, that will bring awareness among the agents as well as the buyers, also it will provide the consulting service to the agents to get registered by RERA.

Currently, there are only 12 percent of the brokers, that have registered themselves with the authority. The facts given by the Confederation of Real Estate Brokers Association of India’s (CREBAI) Maharashtra, reveals that near about 7000 brokers have registered with MahaRERA till now. The authority further assures that after the registration, the brokers will get a special status and it will help them to generate more revenue in future. This registration by RERA, will be the license symbol for all brokers, projects and developers.

According to CREBAI members, there still exits a hesitation among the brokers for the registration, as nearly 80% of them usually deals in secondary or re-sale property. And in accordance with the new rule, only a Maha-RERA-registered broker can market newly registered projects. All the property brokers are supposed to be registered with the authority and the developer, in order to render their services. During this registration, the developers are also liable to disclose the name and other details of the authorized agents.

A registration number will be provided to the real estate agents by the regulators, which they have to mention in each sale they make. With this, the agents will be required to maintain books of account, records and documents related to every transaction made by them. They will also be restrained from making any kind of false representation, whether it be orally, written or by visual representation. Brokers will have to share all the documents and the information about the project with the buyers, which they are entitled to at the time of booking a property.

Under this act, the real estate brokers can register as an individual or as a part of an organisation. Under an individual registration, they have to pay Rs 10,000. But when registering as a part of a firm, they are expected to pay Rs 1 lakh, which they have raised as an issue with MahaRERA.

Once the regulation comes in order, and agents get registered, it would be a lot difficult for them to mislead the home buyers. And home buyers will be able to cross-check most of this information on the regulator’s website.

Continue Reading


Karnataka RERA List Creates Panic Among The Developers



Karnataka Rera List Creates Panic Among The Developers

With thousands of crores at the stake, Karnataka government’s list of 440 housing projects, has created a panic among the developers and the buyers. The listed projects are termed as under investigation for violating the Real Estate Regulatory Authority (RERA) norms. According to Sunil Kumar P, the secretary for real estate regulation and development says there is no reason for home buyers to panic, “for now”. He said that the list of projects has been made public to warn errant builders to fall in line. The names were made public to inform buyers from fraudulent companies and also maintain transparency. The original list came out on January 5, with 780 names. Which was later updated to 440 names on January 12.

As most of the projects listed are the one, that hasn’t registered with the RERA, Karnataka. Many advocates and CREDAI functionaries have cried foul over the “improper” manner in which the projects have been listed.

With the list, comes the accusation by the critics that the RERA authorities haven’t done their work properly, as it had names of even those projects which already had the occupancy certificate. As the projects which have been completed and their occupancy certificate had been issued before the implementation of the RERA, are not bound to register under RERA. However, the developers are complaining that the buildings that have been completed years ago are also mentioned in the list.

Several developers have received notices from the RERA, some of those projects were completed much earlier. No information has been provided on the basis of the list. CREDAI officials are hoping that the RERA authorities will update the list with more accuracy for the benefit of all stakeholders, as the customers have started to seek an explanation from the developers listed.

According to them, the RERA authorities have been looking for RERA numbers, of ongoing and completed projects by visiting the developers’ websites. The builders whose number were missing got mentioned in the list. As most of these projects got finished already before RERA. The names directly got uploaded without any written notices to the builders.

According to RERA authorities, these 440 projects came under investigation for not complying with RERA. The names of the projects were gathered through websites and newspapers. The authorities decided to make these names public as they did not reply to RERA notices. The developers also haven’t notified the authorities about the funds, they have taken from the buyers, as they are still unregistered.

So, the only way left to make builders comply was to pick up their names randomly from all possible sources and make them public. This lack of reply, according to authorities, creates a suspicion on the projects, but that also doesn’t mean that builders are on the wrong side.

Continue Reading


Rajasthan RERA Springs Into Action As Four Builders Violates The Law In Jaipur



Rajasthan RERA

The Real Estate Regulatory Authority (RERA), Rajasthan has issued advisory against the four developers, who were found to be violating the rules. Two of the developers were issued show cause notices for advertising their projects without getting registered under the RERA (Rajasthan), while a fine was imposed on the other two developers for not depositing required documents. As the developers in Rajasthan are allegedly missing the deadlines and not keeping up to their promises, this action by RERA on the technical grounds might be a good beginning to rein them in.

The Real Estate Regulatory Authority (RERA) is taking action against the developers, who failed to submit the documents for registration of their ongoing construction projects under the RERA Act. According to the RERA official, the authority is planning to issue notices and provide final seven days’ time to these defaulters. There are nearly 200 ongoing projects, where the respective builders have not deposited complete documents. Now these builders will have to deposit the remaining documents along with penalty. If the required documents are not provided, then the project will be cancelled and termed as ‘illegal’.

Builders of two housing projects, Galaxy Manglam Grand City and Ginni Homes, were imposed with penalty of four times project fee for failing in submitting the required documents, even after registering the project online with RERA. It was later informed that these two developers have violated section 3 of RERA Act 2016. A 15 days’ time period has been provided by the authority. In case, the builders fail to stick to the given deadline, RERA will order a cancellation of the project registration and take appropriate action in accordance to the rules.

Similarly, two other notices were issued under Section 35(1) under the RERA Act 2016 to Manglam builders and Shubham Group for advertisement of their projects without prior registration. On January 9, the notice was issued by RERA, exercising its powers taken by the u/s 35(1) of the Real Estate (Regulation and Development) Act, 2016 for contravention of section 3 and 11 of the Act. In which any kind of violation committed by the builder by advertising in market, or offering for sale or inviting persons to purchase in any manner, any apartment or building in the real estate project prior to registration of the sale, will be prohibited.

The authority has instructed these developers to stop such illegal action immediately and explain in writing within seven days. A penalty would be imposed if the developers are found guilty. If no explanation is provided within the given time, the authority may pass necessary decision in accordance with the law. Shubham Group was allegedly found guilty for publishing advertisement in newspaper inviting booking for Shyam Vatika, a residential township, which is coming up on Diggi Road. Similarly, Manglam Build Developers Ltd allegedly published advertisement of invites for booking in Manglam Aroma project in Patrakar Colony. The buyers are encouraged to register their complaints with the regulatory authority. In case of a fraud, the consumers can go forward after checking the registered project profile on the RERA online portal. Even if they have booked a flat in a residential complex, they can inform the authorities about their developers not registering on portal.

The builders also believe that this ‘Act’ will bring a transparency in the system, which would definitely benefit the customers. As most of the genuine developers have already registered their ongoing projects with RERA. This new system has eradicated non-serious developers from the market, hence protecting the interest of the home buyers.

Continue Reading