STATUS OF IMPLEMENTATION OF RERA- Real Estate

STATUS OF IMPLEMENTATION OF RERA

Real Estate (Regulation and Development Act will be enforced from May 1 but majority of states are not ready 

v  Regulator and rules – Madhya Pradesh

v  Interim regulator and rules- Maharashtra, Delhi, Andaman and Nicobar Islands, Chandigarh

v 

    Interim regulator and no rules- Kerala, Punjab, Rajasthan, Mizoram, Haryana

v  No regulator but rules- Uttar Pradesh, Gujarat, Odisha, Andhra Pradesh, Dadra and Nagar Haveli, Daman & Diu, Lakshadweep

v  No regulator and no rules- Assam, Tripura, Karnataka, Tamil Nadu, Himachal Pradesh, Jharkhand, Telangana, Chhattisgarh, Uttarakhand, Puducherry, Bihar,West Bengal, Goa and Manipur

v  Constitutional issues involved- Sikkim, Arunachal Pradesh, Meghalaya, Nagaland

 

What  RERA rules say

 

ü  All existing projects that have not received completion certificate will have to be registered with RERA  Authority by July 2017

ü  A new project can now be launched only after getting registered with RERA

ü  Registration possible only after all approvals

ü  Till a new project is registered, its units cannot be marketed

ü  For any delay in completion of a project, developer will have to pay a penal interest to buyers

ü  A consent from two-thirds of buyers is required for approval of any deviation from original plan

ü  70% of sales proceeds of a project will go to a separate account to finance construction 

ü  Buyers  will also pay penal interest if payment is delayed

ü  If a project is delayed or deviates from original plan, buyer can ask for his full money back with interest

ü  Builder will be responsible for any structural defect within five years of giving possession

 

ü  The Act specifies that all existing projects must be registered with the state’s regulatory authority by July 2017, and that no new project can be launched without this registration. So far, only six states and six union territories have notified the rules.

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Welcome to Delhi Development Authority

DDA AAWASIYA YOJANA 2017

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Welcome to DDA AAWASIYA YOJANA 2017
	DDA AAWASIYA YOJANA 2017 will remain open from 30-Jun-2017 to 11-Aug-2017. Applicant can fill Application Form online or offline. To fill the Application Form offline, applicant can collect Brochure/Application Form from the DDA Sale Counter, Vikas Sadan, New Delhi or designated Banks as per Annexure "B" and submit duly filled Application Form to designated bank along with registration amount. To fill the Applicaiton Form online, instructions, brochure and application form are available in website of following banks. Please choose any one website of banks given below:-
	Bank Website Link Lists:-   1. Axis Bank   2. Central Bank of India   3. HDFC Bank   4. Kotak Mahindra Bank   5. ICICI Bank   6. IDBI Bank   7. State Bank of India   8. Yes Bank