Latest news with #RealEstate(RegulationandDevelopment)Act
Time of India
21 hours ago
- Business
- Time of India
Only 30% of MahaRERA recovery warrants executed; Rs 527cr still to be recovered
Pune: MahaRERA's progress on recovery warrant has remained slow, with only 31% of cases executed. Despite state govt's directive to dispose of these cases within three months, merely Rs 233 crore has been recovered out of Rs 760 crore due in 1,212 cases across Maharashtra, officials told TOI on Saturday. The slow progress contradicts revenue minister Chandrakant Bawankule's assurance during the state budget session, where he emphasised speedy execution of MahaRERA's recovery warrant orders and clearing the backlog within three months. The recovery warrants are issued under Section 40(1) of the Real Estate (Regulation and Development) Act (RERA) against developers who neither complete projects nor refund homebuyers. Once issued by MahaRERA, these orders are forwarded to district collectors for action, including property attachment and recovery of dues. The districts of Mumbai Suburban, Pune and Thane continue to report the highest backlog of such pending cases. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune "Though there was some improvement in execution rates, the scale of pendency remains significant. It requires more proactive coordination from revenue officials," said a senior MahaRERA official, adding that it was despite the appointment of additional collectors in multiple districts to expedite the execution of recovery warrants. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 5 Dividend Stocks for May 2025 Seeking Alpha Read More Undo Further compounding delays are 172 complaints, involving Rs 157 crore, that are currently pending before the National Company Law Tribunal (NCLT), which handles cases related to insolvency and bankruptcy. These cases are in legal limbo, adding to the frustration of affected homebuyers, stated officials In a broader push for accountability, PM Narendra Modi had addressed the issue directly at the Pragati review meeting on May 29. Expressing dissatisfaction with the mere counting of "disposed" complaints, the PM questioned whether states genuinely ensured redressal. In response, Maharashtra chief secretary Sujata Saunik held a review meeting in the second week of June with collectorates across the state, directing officials to fast-track execution of recovery warrants and ensure accountability. Additional revenue officers have since been appointed to assist with enforcement. Senior citizen Arun Sheth, who has been waiting for over four years for action against a developer, said, "There's been no real movement on my case despite repeated follow-ups. It's just silence." Activists and consumer groups have also called for better monitoring tools. "MahaRERA should introduce a real-time dashboard like UP RERA's. There should be a clearly defined SOP and phase-wise targets, not just vague timelines," said activist R Prabhu. MahaRERA officials said the issue was likely to be raised in the upcoming legislative session. "It's important that revenue officials are able to give a concrete and time-bound plan for executing these orders," an official noted.
Hindustan Times
4 days ago
- Business
- Hindustan Times
Himachal govt seeks waiver of ₹5 lakh from HC
Jun 26, 2025 07:52 AM IST Himachal government has sought waiver of the ₹ 5 lakh fine imposed on the state for delay in issuing notification regarding the appointment of Himachal Pradesh Real Estate Regulatory Authority (RERA) chairman and its members. The state government on June 24 had issued notifications regarding the appointment of retired IAS officer RD Dhiman as the RERA chairperson, along with appointment of another retired officer, Amit Kashyap, as a member. (iStockR) The application was moved during resumed hearing of the public interest litigation (PIL) filed by Atul Sharma, challenging the extension of six months granted to Prabodh Saxena as chief secretary of the state. The state government on June 24 had issued notifications regarding the appointment of retired IAS officer RD Dhiman as the RERA chairperson, along with appointment of another retired officer, Amit Kashyap, as a member. The appointments were made under Section 20 of the Real Estate (Regulation and Development) Act, 2016, by the Governor, following the recommendations of the selection committee. The case was deferred to July 23, when the petitioner Atul is expected to file reply to the replies filed on behalf of chief secretary Prabodh Saxena as well as the central and state governments.
Time of India
4 days ago
- Business
- Time of India
Info boards a must at all real estate projects: TNRERA
Chennai: To enhance transparency and consumer awareness, Tamil Nadu Real Estate Regulatory Authority (TNRERA) has issued a circular mandating the installation of prominent display boards at all registered real estate project sites. The order, dated May 7, applies to both building and layout projects across the state. "The circular outlines the essential information that must be displayed on these boards: name of the promoter, project name, TNRERA registration details, date of completion as per TNRERA registration, and the website address of TNRERA," TNRERA member, M Krishnamoorthy. The regulatory body has reiterated the rule mandated under the Real Estate (Regulation and Development) Act, 2016 (RERA). This initiative by TNRERA is expected to provide prospective homebuyers and investors with easy access to crucial project details. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai Promoters are now required to install a display board, measuring at least 2ft by 4ft, prominently abutting the public road at each project site. This board must be separate from any other existing display boards and feature essential project information in a readable font size. It's crucial that these display boards are put up immediately after a project gets TNRERA registration. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like ¡Revoluciona tu mundo digital con recomendaciones tech! Mandarina - Tráfico Más información Undo Promoters will need to submit evidence of the installation, which must be certified by the project's engineer or architect and include site photographs," said a TNRERA official. TNRERA has also said that a condition regarding the display board installation will be incorporated in form-C, which is part of the registration process. Compliance will be rigorously checked and ensured before the issuance of the completion report. S Ramprabhu, chairman of the DTCP committee at the Builders Association of India, said that this is a step in the right direction to improve transparency and buyer confidence.
Time of India
4 days ago
- Politics
- Time of India
Himachal Pradesh government appoints new HP RERA chairperson & member
SHIMLA : The Himachal Pradesh government notified the appointment of former IAS officers RD Dhiman and Amit Kashyap as Chairperson and Member respectively of the Himachal Pradesh Real Estate Regulatory Authority (HP RERA), days after the High Court pulled up the state government over the delay and imposed a cost of Rs 5 lakh. As per the notification issued by the Housing Department (No. HSG-A003/1/2024-L dated June 24, 2025), RD. Dhiman, IAS (Retd.), has been appointed as the Chairperson of HP RERA, while Amit Kashyap, IAS (Retd.), has been named as a Member of HP RERA. The appointments have been made under Section 20 of the Real Estate (Regulation and Development) Act, 2016, following the recommendations of the Selection Committee. "The tenure of the office of the aforementioned Chairperson and Member shall be five years or till attaining the age of sixty-five years, whichever is earlier, from the date they assume the charge of their respective posts," the notification stated. The order also relieves Principal Secretary (Housing) Devesh Kumar, IAS, from the additional charge of Chairperson, HP RERA, which he was holding in the absence of a full-time appointee. The appointments come in the wake of strong observations made by the Himachal Pradesh High Court earlier this month, where the court had expressed deep concern over the prolonged delay in filling the statutory posts of the real estate regulator. The court noted that the state government had failed to appoint a chairperson and members for more than a year despite the critical role of the authority in safeguarding the interests of homebuyers. In a stern order, the High Court had imposed a cost of ₹5 lakh on the state government for the "casual and insensitive approach" in constituting the RERA body and observed that the delay not only violated the statutory provisions of the RERA Act but also undermined public interest. The court had also taken note of the repeated extensions granted to the then Chief Secretary Prabodh Saxena, despite his role as the ex-officio Chairperson, being an ad-hoc arrangement. The RERA authority had remained defunct for months, adversely affecting real estate regulation and dispute redressal in the state. The court had directed the government to expedite the appointment process without further delay. The new appointments are expected to restore full functionality to HP RERA and improve oversight and regulation in Himachal Pradesh's real estate sector.
Hindustan Times
5 days ago
- Business
- Hindustan Times
Former IAS officer RD Dhiman is Himachal RERA chief
Jun 25, 2025 06:04 AM IST Himachal Pradesh government has appointed retired IAS officer RD Dhiman as the chairperson of the Himachal Pradesh Real Estate Regulatory Authority (RERA). Himachal new RERA chief RD Dhiman (HT Photo) Another retired officer Amit Kashyap has been appointed as a RERA member. The appointments were made under Section 20 of the Real Estate (Regulation and Development) Act, 2016, by the governor, following the recommendations of the selection committee. The notification states that the tenure of both appointees will be five years or until they attain the age of sixty-five years, whichever is earlier, from the date they assume office. This comes after the Himachal Pradesh high court, in last week, had pulled up the state government over the delay in the appointments and directed it to issue notification for the post of chairman and other members by June 25. The court has also imposed a fine of ₹ 5 lakh on the government.
