List of approved projects and agents: Goa RERA

Apr 30,2019 / By Prahalad Singh / No Comment

Goa RERA:

RERA in Goa notified on 31st October 2016. Shri. Sudhir Mahajan, IAS Secretary (UD) Government of Goa is designated as the Regulatory Authority under the Act until the establishment of Real Estate Regulatory Authority. Recently, with the transfer of Sudhir Mahajan to Andaman and Nicobar Islands, Nila Mohan, secretary of Urban Development is holding interim RERA charges.

As of now, Goa RERA has approved a total of 321 projects across the states under the Real Estate (Regulation & Development) Act. Till date, 143 real estate agents have been given RERA certificates.

List of registered projects and agents: Goa RERA
Approved Projects	381
Approved Agents	143
Complaint	6

List of approved agents for Goa RERA: Click here to view

List of approved projects for Goa RERA: Click here to View

Irrespective of these proved projects/agents, RERA has rejected several real estate projects as well. As of now, Goa RERA has registered 6 complaints.

Residential projects in Panjim

Residential projects in Margao

Latest updates on Goa RERA:

Maharashtra RERA tribunal to take over Goa cases.

Goa govt urges ‘leader’ MahaRERA to hear cases.

Secretary of Urban Development, Nila Mohan holds interim RERA charges.

Disclaimer: the data provided here is based on industry and news reports. CommonFloor will not be held legally responsible for any action taken based on the information provided.

List of approved projects and agents – Bihar RERA

Apr 26,2019 / By Prahalad Singh / No Comment

Bihar RERA

Bihar has been one of the most active states in the implementation of the Real Estate (Regulation and Development) Act (RERA) rules.

The Bihar Real Estate (Regulation & Development) Rules 2017 (Including Agreement for Sale Rules) was notified by the Government of Bihar on April 28th, 2017.

The Government of Bihar has designated The Principal Secretary, Urban Development and Housing Department, Government of Bihar as the Regulatory Authority and The Bihar Land Tribunal, as the Appellate Tribunal respectively.

Till date, Bihar RERA has received 887 applications. Out of 887, 398 real estate projects have been approved, 77 applications are under scrutiny, 11 applications are under process, 396 applications are under query or in doubtful nature, and 5 of them got registration extension.

List of approved agents for Bihar RERA: Click here to view

List of approved projects for Bihar RERA: Click here to view

Irrespective of these proved projects/agents, RERA has rejected several real estate projects as well.

Residential projects in Patna
Residential projects in Gaya

Disclaimer: the data provided here is based on industry and news reports. CommonFloor will not be held legally responsible for any action taken based on the information provided.

Amaravati Smart City

Apr 25,2019 / By Supriya Mogarala / No Comment

Amaravati Smart City:

Since smart city mission is one of the biggest targets of the digital age in India led by Prime Minister Narendra Modi has launched the smart city mission on June 15, 2015, which can be described as the strength to blend various technological solutions in the safest way possible to control the city services and wealth. Smart city ambition will raise the standards of infrastructural development around India. The consolidation of technology mated with physical infrastructure and services can simplify the lives of residents and that’s how smart city missions are expected to create a drastic change in the Real Estate sector around India. Due to the smart city mission, the demand for the surrounding areas has also been increased. For example, if we consider Amaravati, cities like Vijayawada, Hyderabad will increase its demand In Real Estate Sector.

Smart city mission is expected to in turn the infrastructure of India by attracting the establishment of several MNC’s that will generate the employment opportunities that result in high residential demand. The smart city mission will also provide multiple affordable housing opportunities for low-income groups and economically weaker sections. Such factors will increase the opportunity to the developers to establish new projects in the upcoming smart cities because the mission will allow an attractive investment opportunity with a range for price appreciation and high return on investment.

Amaravati is one of the latest India’s smart cities which is the capital of the Indian state, Andhra Pradesh. It covers an area of 217.23 sq. km., within Andhra Pradesh capital area and placed on the southern banks of the river Krishna in Guntur, Krishna districts. Its smart city framework will include tissue optic connectivity and smart architecture. Amaravati smart city consists of many new ideas that are significant for a large city including modern waste collections and managing the ecological balance within the green spaces. This capital city could be the test model for India’s infrastructural development.

Some of the conspicuous features that are exacted to be in Amaravati smart city are:

1. Endorsing mixed land use in area-based developments and ensuring sustainability all over the city

2. Expanding housing possibilities for all

3. promoting walkable localities by conserving and beautifying open spaces and growing a vibrant economy

4. Giving an identification to the city based on its basic economic activities such as health, culture, education, etc.

5. Practicing smart solutions to infrastructure

Till date, Amaravati had completed its interim secretariat building in a 49-acre area that signifies the temporary assembly. According to the timeline of this smart city project, Andhra Pradesh’s capital will be functional only by 2024 that will be the end of its second phase, where most of the industrial establishments will display operational and the third and final phase is expected to complete by 2029.

List of approved projects and agents: Punjab RERA

Apr 25,2019 / By Prahalad Singh / No Comment

The Punjab government had notified the Real Estate (Regulation and Development) Act (RERA) rules in 8th June 2017. The State government had appointed Navreet Singh Kang as the chairman of the regulatory authority for 5 years or until he attains the age of retirement, whichever is earlier.

The Punjab Real Estate Regulatory Authority has approved a total of 672 real estate projects across the state till now. As per the Punjab RERA website, a total of 1545 agents have registered under Punjab RERA and got RERA Certificate.

As of now, 145 projects project registration application are still pending for approval.

List of approved agents for Punjab RERA: Click here to view
List of approved projects for Punjab RERA: Click here to view

Irrespective of these proved projects/agents, RERA has also registered 318 complaints about several real estate projects as well.

Residential Projects in Chandigarh

Residential Projects in Amritsar

Residential Projects in Jalandhar

Residential Projects in Ludhiana

Residential Projects in Patiala

Residential Projects in Mohali

Punjab RERA Updates:

Punjab Rera goes undercover, finds builders in Zirakpur, New Chandigarh and Kharar selling properties without registration.

RERA-registered realty agents less than 5% in Punjab – Only 1545 real estate brokers have registered themselves with the authority.

Disclaimer: the data provided here is based on industry and news reports. CommonFloor will not be held legally responsible for any action taken based on the information provided.

GST & RERA: The two things that brought a transit in the Indian Economy

Apr 25,2019 / By sunil deo / No Comment

GST & RERA: The two things that brought a transit in the Indian economy

Mr. Santosh Dash, Director & Tapas Ranjan Parida, Associate Director, 7th Heaven Homes LLP are very optimistic about the inception of GST & RERA in the Indian Economy. Here are their views on the impact of GST & RERA in the Indian Economy especially in Real Estate Sector.

The Goods And Services Tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption.
Real estate welcomed the thought process of the government on GST. The process has definitely aided homebuyers with 5%GST for New Launches/Luxury Homes and 1% for affordable segments.

Input tax credit which earlier was not being assigned to the buyers had created questions in the minds of the buyers but the implementation of new GST rates has brought about clarity which has resulted in a subtle increase in sales & rise of Real Estate in Bangalore.

Next comes the biggest revolution of the Reg Estate segment – RERA.

The Real Estate Regulatory Act was implied by the Indian Parliament to protect home buyers as well as help boost investments in the real estate industry.

Post the implementation of RERA there is an increase in trust factors for buyers while investing on a property. The impact of RERA has limited the number of new launches, guaranteed delivery date not abiding by which, a developer would have to pay a hefty penalty on being a defaulter. Also as only a RERA registered realtor is permitted to make a transaction, it assures a safety factor for the home buyer to rely on an agent.

With RERA implied on different states, a realtor gets an opportunity to sell products PAN India post his registration under RERA for the particular state.

Thus with rising in business, partners can work with the developers with different modules like an annual operating plan which can assure higher payout slabs and drive the increase in the number of sales.

Monthly Archives: Apr 2019