The real estate sector of India is perhaps one of the fastest-growing sectors, creating several opportunities for every stakeholder and professionals. The country has witnessed the successfull impact of rera implementation. The efficiency of RERA revolves around the prominent role plays by each
professional whose service is of utmost importance. The article brings you such a goldmine of opportunities available for professionals, stakeholders, who can utilize their expertise and contribute to the growing economy of the world.
Real Estate Sector despite being considered a risky sector as an investment has always been an attractive place for stakeholders. Speculating the effect of the stalled project over pending work of development, RERA has come up with a solution allowing the stakeholders themselves to continue with the pending construction of the project.
The crucial decision of Homebuyers for successful execution of there dream pr...CA. (Dr.) Rajkumar Adukia
As the role of Builder in real estate projects is considered to be fundamental considering the fact that he is the one filling gap between investor's needs and successful projects, it is crucial for everyone dealing in real estate to be extra cautious to avoid any future difficulty.
THE JUSTICE PROCESS IN RERA SECTION 31, 43(5), 58 AND ARTICLE 32,136 226 OF T...CA. (Dr.) Rajkumar Adukia
since every legislation aims at Justice making available the access and means of justice, the article unfolds the remedies available to the key players under rera being the allottees, real estate agent and real estate developers
Objectives & Agenda :
The primary objective of Insolvency and Bankruptcy Code (IBC) is the resolution of distressed assets of the insolvent debtor in a time bound structured manner and to enable such insolvent entity to continue as a going concern. IBC emerges as a fast track mechanism in completion of insolvency proceedings and aims at maximising the value of the assets of an insolvent entity. The Supreme Court judgement on Essar Steel is a landmark judgement that affirms the principles of IBC. The webinar analyses the key aspects of the judgments delivered by all the judicial forums viz. National Company Law Tribunal (NCLT), National Company Law Appellate Tribunal (NCLAT) and the Honourable Supreme Court in Essar Steel case.
Real Estate Sector despite being considered a risky sector as an investment has always been an attractive place for stakeholders. Speculating the effect of the stalled project over pending work of development, RERA has come up with a solution allowing the stakeholders themselves to continue with the pending construction of the project.
The crucial decision of Homebuyers for successful execution of there dream pr...CA. (Dr.) Rajkumar Adukia
As the role of Builder in real estate projects is considered to be fundamental considering the fact that he is the one filling gap between investor's needs and successful projects, it is crucial for everyone dealing in real estate to be extra cautious to avoid any future difficulty.
THE JUSTICE PROCESS IN RERA SECTION 31, 43(5), 58 AND ARTICLE 32,136 226 OF T...CA. (Dr.) Rajkumar Adukia
since every legislation aims at Justice making available the access and means of justice, the article unfolds the remedies available to the key players under rera being the allottees, real estate agent and real estate developers
Objectives & Agenda :
The primary objective of Insolvency and Bankruptcy Code (IBC) is the resolution of distressed assets of the insolvent debtor in a time bound structured manner and to enable such insolvent entity to continue as a going concern. IBC emerges as a fast track mechanism in completion of insolvency proceedings and aims at maximising the value of the assets of an insolvent entity. The Supreme Court judgement on Essar Steel is a landmark judgement that affirms the principles of IBC. The webinar analyses the key aspects of the judgments delivered by all the judicial forums viz. National Company Law Tribunal (NCLT), National Company Law Appellate Tribunal (NCLAT) and the Honourable Supreme Court in Essar Steel case.
Taxmann's Consumer Protection Law & Practice Taxmann
This book is a Comprehensive Guide to New Consumer Protection Law, which is enforced with effect from 20-7-2020/24-7-2020.
What sets this book apart is the compact-comprehensive-commentary supplemented by compilation of the annotated text of the new Consumer Protection Law with Act, Rules, Regulation, Circulars & Notifications, and Draft Rules & Regulations.
The Present Publication is the Latest Edition, updated till 28th July 2020. Coverage of this book includes:
• Guide to Consumer Protection Act, 2019 [Commentary]
○ Background of Consumer Protection Act, 2019
○ What is Consumer Dispute
○ Deficiency in Service
○ Unfair Contracts and Restrictive and Unfair Trade Practices
○ Product Liability
○ Constitution of Consumer Disputes Redressal Commission
○ Constitution & Procedural Aspects of Consumer Disputes
Redressal Commission
○ Mediation
○ Central Consumer Protection Authority
○ Offences and Penalties
○ Consumer Protection Councils
○ Regulation of E-Commerce
○ Direct Selling
○ Other Provisions of the Consumer Protection Act
• Consumer Protection Act, 2019
• Rules & Regulation Framed under the Consumer Protection
Act, 2019
○ Consumer Protection (Central Consumer Protection Council)
Rules, 2020
○ Consumer Protection (Consumer Disputes Redressal
Commissions) Rules, 2020
○ Consumer Protection (General) Rules, 2020
○ Consumer Protection (Mediation) Rules, 2020
○ Consumer Protection (Salary, Allowances and Conditions of
Service of President and Members of the State Commission
and District Commission) Model Rules, 2020
○ Consumer Protection (Qualification for Appointment, Method
of Recruitment, Procedure of Appointment, Term of Office,
Resignation and Removal of the President and Members of
the State Commission and District Commission) Rules, 2020
○ Consumer Protection (E-Commerce) Rules, 2020
○ Consumer Protection (Consumer Commission Procedure)
Regulation, 2020
○ Consumer Protection (Administrative Control over the State
○ Commission and the District Commission) Regulation, 2020
○ Consumer Protection (Mediation) Regulations, 2020
• Circulars and Notifications
• Draft Rules and Regulations Framed under the Consumer
Protection Act, 2019
• Tables:
○ Tables showing sections of the Consumer Protection Act 2019
& corresponding provisions of Consumer Protection Act 1986
and vice-versa
○ Tables showing the date of enforcement of sections of the
Consumer Protection Act, 2019
PPT for the interactive session at the Institute of Cost Accountants of India Delhi on 7th Jan 2017 on the Role of Insolvency Professionals under Insolvency and Bankruptcy Code 2016
Hardship as a Defence against Specific Performance- The Case of Covid 19Badrinath Srinivasan
Presentation made in the ADR Webinar Series conducted by the Indian Institute of Technical Arbitrators (IITArb) and the Kovise Foundation Conflict Resolution International (KFCRI)
The presentation, made before a discussion group on 26.06.2020, discusses the possible ways forward for the Construction industry in India vis-a-vis resolution of construction disputes arising out of Covid19.
Today, with us we have “Mr. Ashok Juneja” who is an Advocate and Insolvency Professional. He is Founder & Managing Partner of a multi disciplinary Law Firm “MANTRAH LAW HOUSE LLP” which is an LLP of renowned Mantrah Group)
He is also director of “MANTRAH INSOLVENCY PROFESSIONALS PVT LTD”
Mr. Juneja, aged about 63 years, is a Law Graduate, Company Secretary, Cost Accountant, M.Com. Mr. Juneja also holds Diploma in Business Finance (DBF), NSE Certification in Financial Market (NCFM) and Advance Diploma in Computer Application (ADICA) etc.
Mr Juneja, a graduate from one of the most prestigious college “Shri Ram College of Commerce” has an overall combined experience of more than 40 years in Corporate Laws including Appearances in Supreme Court, High Courts, National Company Law Tribunal (NCLT), National Company Law Appellate Tribunal (NCLAT), DRT etc.
Mr Juneja empanelled with State Bank of India and Andhra Bank as an Insolvency Professional has already handled assignments of Interim Resolution Professional (IRP), Resolution Professional (RP) and Voluntary Liquidator.
He is also member of Bar Council of Delhi, Executive Member of NCLT & NCLAT Bar Association, Bar Association of Supreme Court, Delhi High Court, Institute of Company Secretaries of India, Institute of Cost Accountant of India, CII, PHD Chamber of Commerce & Industry and ASSOCHAM.
He is also the Director on the board and Adviser to many Companies which include Public Listed Companies.
Insolvency & bankruptcy code an overviewChirag Gupta
An Overview of Insolvency and Bankruptcy Code, 2016 along with the process for resolution order and bankruptcy order against the debtor and how it will be beneficial for the Banks & Other lending institutions of India.
Condominium property law part 2 - Creation of a condominium propertyAjithaa Edirimane
One of the series of lectures of the Post Attorney Diploma in Conveyancing and Real Property Rights conducted by the Institute of Advanced Legal Studies affiliated to the Sri Lanka Law College (2019 - 2020)
Taxmann's Consumer Protection Law & Practice Taxmann
This book is a Comprehensive Guide to New Consumer Protection Law, which is enforced with effect from 20-7-2020/24-7-2020.
What sets this book apart is the compact-comprehensive-commentary supplemented by compilation of the annotated text of the new Consumer Protection Law with Act, Rules, Regulation, Circulars & Notifications, and Draft Rules & Regulations.
The Present Publication is the Latest Edition, updated till 28th July 2020. Coverage of this book includes:
• Guide to Consumer Protection Act, 2019 [Commentary]
○ Background of Consumer Protection Act, 2019
○ What is Consumer Dispute
○ Deficiency in Service
○ Unfair Contracts and Restrictive and Unfair Trade Practices
○ Product Liability
○ Constitution of Consumer Disputes Redressal Commission
○ Constitution & Procedural Aspects of Consumer Disputes
Redressal Commission
○ Mediation
○ Central Consumer Protection Authority
○ Offences and Penalties
○ Consumer Protection Councils
○ Regulation of E-Commerce
○ Direct Selling
○ Other Provisions of the Consumer Protection Act
• Consumer Protection Act, 2019
• Rules & Regulation Framed under the Consumer Protection
Act, 2019
○ Consumer Protection (Central Consumer Protection Council)
Rules, 2020
○ Consumer Protection (Consumer Disputes Redressal
Commissions) Rules, 2020
○ Consumer Protection (General) Rules, 2020
○ Consumer Protection (Mediation) Rules, 2020
○ Consumer Protection (Salary, Allowances and Conditions of
Service of President and Members of the State Commission
and District Commission) Model Rules, 2020
○ Consumer Protection (Qualification for Appointment, Method
of Recruitment, Procedure of Appointment, Term of Office,
Resignation and Removal of the President and Members of
the State Commission and District Commission) Rules, 2020
○ Consumer Protection (E-Commerce) Rules, 2020
○ Consumer Protection (Consumer Commission Procedure)
Regulation, 2020
○ Consumer Protection (Administrative Control over the State
○ Commission and the District Commission) Regulation, 2020
○ Consumer Protection (Mediation) Regulations, 2020
• Circulars and Notifications
• Draft Rules and Regulations Framed under the Consumer
Protection Act, 2019
• Tables:
○ Tables showing sections of the Consumer Protection Act 2019
& corresponding provisions of Consumer Protection Act 1986
and vice-versa
○ Tables showing the date of enforcement of sections of the
Consumer Protection Act, 2019
PPT for the interactive session at the Institute of Cost Accountants of India Delhi on 7th Jan 2017 on the Role of Insolvency Professionals under Insolvency and Bankruptcy Code 2016
Hardship as a Defence against Specific Performance- The Case of Covid 19Badrinath Srinivasan
Presentation made in the ADR Webinar Series conducted by the Indian Institute of Technical Arbitrators (IITArb) and the Kovise Foundation Conflict Resolution International (KFCRI)
The presentation, made before a discussion group on 26.06.2020, discusses the possible ways forward for the Construction industry in India vis-a-vis resolution of construction disputes arising out of Covid19.
Today, with us we have “Mr. Ashok Juneja” who is an Advocate and Insolvency Professional. He is Founder & Managing Partner of a multi disciplinary Law Firm “MANTRAH LAW HOUSE LLP” which is an LLP of renowned Mantrah Group)
He is also director of “MANTRAH INSOLVENCY PROFESSIONALS PVT LTD”
Mr. Juneja, aged about 63 years, is a Law Graduate, Company Secretary, Cost Accountant, M.Com. Mr. Juneja also holds Diploma in Business Finance (DBF), NSE Certification in Financial Market (NCFM) and Advance Diploma in Computer Application (ADICA) etc.
Mr Juneja, a graduate from one of the most prestigious college “Shri Ram College of Commerce” has an overall combined experience of more than 40 years in Corporate Laws including Appearances in Supreme Court, High Courts, National Company Law Tribunal (NCLT), National Company Law Appellate Tribunal (NCLAT), DRT etc.
Mr Juneja empanelled with State Bank of India and Andhra Bank as an Insolvency Professional has already handled assignments of Interim Resolution Professional (IRP), Resolution Professional (RP) and Voluntary Liquidator.
He is also member of Bar Council of Delhi, Executive Member of NCLT & NCLAT Bar Association, Bar Association of Supreme Court, Delhi High Court, Institute of Company Secretaries of India, Institute of Cost Accountant of India, CII, PHD Chamber of Commerce & Industry and ASSOCHAM.
He is also the Director on the board and Adviser to many Companies which include Public Listed Companies.
Insolvency & bankruptcy code an overviewChirag Gupta
An Overview of Insolvency and Bankruptcy Code, 2016 along with the process for resolution order and bankruptcy order against the debtor and how it will be beneficial for the Banks & Other lending institutions of India.
Condominium property law part 2 - Creation of a condominium propertyAjithaa Edirimane
One of the series of lectures of the Post Attorney Diploma in Conveyancing and Real Property Rights conducted by the Institute of Advanced Legal Studies affiliated to the Sri Lanka Law College (2019 - 2020)
Obligations of promoters, penalties under RERABhavya Haria
An article on Obligations or promoters, penalties and compounding of offences under RERA published in CVOCA News and Views July 2017 - by Advocate Bhavya Haria
In this presentation we discus about the impact of Rera ON INDIAN real estate, the law under the RERA as per the Central government, how to register complaint under RERA etc
Global role of ca in the whole gamut of succession and transfer of asset incl...CA. (Dr.) Rajkumar Adukia
The article gives insight about will document and execution of same. The author believes that the chartered accountant in the capacity of an executor can better assist with the process of working through the planning of the estate along with administration from an accounting and taxation perspective once the estate commences.
Being appointed as, and accepting the role of an executor typically comes with many responsibilities, however a chartered accountant with their expert knowledge in finance are able to ace the role as an executor of the estate distribution made in the form of will by the testator
Opportunities for CAs as independent directors to enhance the credibility and...CA. (Dr.) Rajkumar Adukia
The concept of Independent Directors is a welcome step for corporate governance in India. Independent directors are expected to use their capacity, knowledge, and resources towards the maximization of stakeholders’ value and well-being. They ensure the progress of mankind through transparency, accountability, and truthful disclosure of the state of affairs of the company. The Companies Act, 2013 has conferred greater empowerment upon Independent Directors to ensure that the management and affairs of a company are being run fairly and smoothly.
The co-operative movement that was started to help the rural indebtedness has now made noticeable progress. The sector has grown in size and expanses, resulting in creating a space for itself in the economic framework of the country. Professionals like chartered accountants can too contribute to the nation by serving such cooperatives and reaching out to society. With their excellent technical and soft skills, they are well fitted for the role of assistance to cooperatives banks, multi-state cooperative societies, cooperative societies, and can serve the cooperative sector ultimately serve the nation.
Professional services a chartered accountant can provide in preventing money ...CA. (Dr.) Rajkumar Adukia
The implementation of PMLA is conferred on several authorities as mentioned such as Director or Additional Director or Joint Director, Deputy Director, Assistant Director, and such additional directors/officers whose appointment may be deemed necessary under the provisions of the PMLA. Professionals like chartered accountants are more conversant with the business environment and hold special expertise in finances that gives them an additional advantage to fit into the role of assisting, serving such authorities.
Audit will be there as long as economic or non economic activities are ther...CA. (Dr.) Rajkumar Adukia
Auditing and assurance services are the basic bread and butter
of any professional. Until a few years back, for the general public
an image of a Chartered Accountants that of an audit, and on
our side very few professionals thought of fields beyond auditing.
But with the passage of time, things have changed. Many
more fields of work have merged. But still, rarely do we find a
chartered accountant who is not into any type of audit.
It is common knowledge that contracts are heart and soul of any business activity. A full proof contract requires vast knowledge of the business world, a thorough understanding of drafting knowledge. Commercial contracts form the backbone of many commercial transactions from vendor agreements to client engagement agreements.
In this article we will be discussing the significance of financial planning, how every individual must – must make effective use of money, and why/how the professional may consider this as another unique area of service to use their expertise for
Corporate social responsibility an opportunity to improve the status of soc...CA. (Dr.) Rajkumar Adukia
This article will provide us the overall idea about corporate social responsibility from root level to top level. The main motive behind the formation of this concept is the economic contribution of companies to society
The Chartered Accountants contribution in protecting minority interest for th...CA. (Dr.) Rajkumar Adukia
In order to function the corporate affairs effectively and successfully and to increase the corporate governance, the interest of the minority need to be protected.
The Company law had given a protection to such minority shareholders by giving an option to go to Tribunal for relief and the tribunal on such application shall take to prevent such oppression and mismanagement.
Go global with the knowledge of IPSAS the internationally accepted accounting...CA. (Dr.) Rajkumar Adukia
In sum, the article explains that the knowledge of the IPSASs is going to be a great opportunity for accounting professionals worldwide. So it is time to gear up and acquire knowledge in this relatively new domain.
This article tells you about how the Audit to Enterprises of all sizes is an important aspect.
With essential features of auditor like independence,
professional skepticism, documentation skills, and continuous knowledge up-gradation any
Chartered Accountant can make a name for himself in the field of the Audit profession.
Let us go together go through this book and see what it has in store for us. Why do we generally fail in our resolutions? Why are we not able to achieve our dreams? why do we always fall short of our targeted income?
Hopefully, all these questions will be answered in the process.
My thoughts on nfra consultation paper on statutory audit and auditing standa...CA. (Dr.) Rajkumar Adukia
The importance of Audit of an organization is perhaps as same as what is oxygen for human beings. It is a 360-degree review of all the organizations working.
I find the NFRA consultation is an opportunity to tell the world how auditing is not just a statutory requirement but a value addition for any entity.
It is a chance to relook at our services, to enhance the
quality and benefit of our services to stakeholders and overall society.
The pious period of Diwali gives us the impetus to destroy all ignorant, fearful, negative and self-limiting thoughts and light up our life with knowledge, fearlessness, positive and self-empowering thoughts.
Let us discover the Inner light in us on this auspicious day of Diwali !!!!
Have a Sparkling, Prosperous, Healthy, and Beautiful Diwali to you all !!!!!!
PROFESSIONAL OPPORTUNITIES FOR CHARTERED ACCOUTANT IN THE ALTERNATIVE DISPUTE...CA. (Dr.) Rajkumar Adukia
This article focuses upon certain practices and scheme of ADR in india in the form of question and answer format realted to ADR, its nature of conduct whether ad hoc or administered; available platforms or forums for the better understanding to the ADR practitioners as one of the professional opportunities for Chartered Accoutants.
The role of chartered accountants in the capacity of auditors assures a smooth-running business that helps to reduce fraud and accounting. The article unfolds its crucial role in terms of the stock audit process.
Business and Risk go hand in hand, the professionals like chartered accountants with expertise in finance, management and audit are well suited for the role of forecasting, evaluating, and mitigating prospective risk involve in any organization’s activity and seize opportunities to take the growth of business on next level. This article brings you in-depth details of the role of a chartered accountant in Enterprise Risk Management.
UNFOLDS NEW PROFESSIONAL OPPORTUNITIES AVAILABLE FOR THE CHARTERED ACCOUNTANT...CA. (Dr.) Rajkumar Adukia
The expertise in subjects like Finance, advisory, management, audit, etc. puts the Chartered Accountants in an advantageous position creating an ability to plays a huge role in the Insolvency Resolution process on the same line unfolds the excellent unique opportunities that the Insolvency regime brings.
The role of Chartered Accountant in capacity as Virtual Entrepreneur Mentor t...CA. (Dr.) Rajkumar Adukia
A chartered accountant in the capacity of a virtual Entrepreneur Mentor can act as a trusted confidante over an extended period of time with an objective to provide advice, counseling from a fresh perspective, collaborate and help you as an entrepreneur stay focused on their long-term goal of making their venture a success.
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...Joseph Lewis Aguirre
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus on Public Safety as Job #1, Engagement, Wealth of HOA, Branding, Communication, Culture, Civic Responsibility
Green Homes, Islamabad Presentation .pdfticktoktips
Green Homes Islamabad offers beautifully designed 5, 8, and 10 Marla homes near the airport and motorway. Enjoy luxury, convenience, and high rental returns in a prime location.
Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
Torun Center Residences Istanbul - Listing TurkeyListing Turkey
THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyeköy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...JagadishKR1
Experience unmatched luxury at Elegant Evergreen Homes, offering exquisite 2, 3, and 4 BHK apartments in the serene locality of Yelahanka, Bangalore. These meticulously crafted homes blend modern design with timeless elegance, providing a harmonious living environment. Enjoy top-tier amenities and a prime location, making Elegant Evergreen Homes the ideal choice for discerning homeowners.
One FNG by Group 108 Sector 142 Noida Construction UpdateOne FNG
One FNG by Group 108 is launching a new commercial project in Sector 142 Noida. Office space and high street retail shops on the FNG and Noida Expressway. For more information visit the website https://www.onefng.com/
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
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500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
Referans Bahcesehir which is being constructed, in the center of the most regional destination as Bahçeşehir, shines out with its central location and unique landscape including social facilities such as a fitness center, sauna, sports facilities, children’s playground and recreational areas.
Not only drawing attention for immediate surroundings including commercial centers and private schools but also providing the easily accessible location with closeness to Tem Highway and connection roads, ongoing construction of 3rd Bridge Connection roads and Metro Projects
Bahcesehir is a rising value in the great city of Istanbul… Located at a new transportation junction in the northwest of the City… Located at such a spot that the access roads for the 3rd bridge and for the 3rd Airport will reach the region in 2016. The Marmaray and the Subway will extend all the way to Referans Bahcesehir respectively in 2018 and 2019.
465 flats and 34 stores are designed with an outstanding approach and arranged with a unique perspective offering the following options: 1 plus 1, 2 plus 1, 3 plus 1, 3.5 plus 1, 4 plus 1, and 4.5 plus 1. It is planned so as to safeguard you and your loved ones based upon a modern, technological safety approach. As you experience the joy and luxury here, you will be content and feet at ease.
It is worth seeing both inside and outside with heart-warming cafes, tasty restaurants and elegant stores… And it is ready to offer a vivacious social life with a warm and cozy space design.
A folding swimming pool and indoor swimming pools, playgrounds, Turkish bath, sauna… It has them all. Everything you need for your well-being and for having a pleasant time will be at your service. You simply need to align the rhythm of life with the rhythm of Referans Bahcesehir.
https://listingturkey.com/property/referans-bahcesehir/
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
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Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
1. GOLDMINE OF PROFESSIONAL OPPORTUNITIES UNDER RERA
-By CA. (Dr.) Rajkumar Adukia
The real estate sector of India is perhaps one of the fastest growing sectors,
creating several opportunities for every stakeholders and professionals.
Additionally with the successful implementation of the Real Estate (Regulation
and Development) Act, 2016 (herein after “RERA”) effective from 1st May
2017, the sector has shown a positive growth and significantly contributing to
the Governments vision of making India a 10 trillion economy.
The efficiency of RERA revolves around the prominent role plays by each
professionals whose service is utmost important. Among such professionals are
1. Architect
2. Engineer
3. Chartered Accountants
4. Real Estate Agent
5. Advocate
6. Consultant
Some professionals defines under act
Section 2 (h) "Architect" means a person registered as an architect under the
provisions of the Architects Act, 1972
Section2 (u) "Engineer" means a personwho possesses a bachelor's degree or
equivalent from an institution recognised by the All India Council of Technical
Education or any University or any institution recognised under a law or is
registered as an engineer under any law for the time being in force.
Section 56 (a) "Chartered Accountant" means a chartered accountant as
defined in clause (b) of sub-section (1) of section 2 of the Chartered
Accountants Act, 1949 or any other law for the time being in force and who has
obtained a certificate of practice under sub-section (1) of section 6 of that Act
2. Section56 (b) "Company Secretary" means a company secretary as defined in
clause (c) of sub-section (1) of section 2 of the Company Secretaries Act, 1980
or any other law for the time being in force and who has obtained a certificate of
practice under sub-section (1) of section 6 of that Act;
Section56 (c) "Cost Accountant" means a cost accountant as defined in clause
(b) of sub-section(1) of section 2 of the Costand Works Accountants Act, 1959
or any other law for the time being in force and who has obtained a certificate of
practice under sub-section (1) of section 6 of that Act;
Section 56 (d) "Legal Practitioner" means an advocate, vakil or an attorney of
any High Court, and includes a pleader in practice
A. Role of Architect:
An Architect is well-versed about buildings and their construction. He
understands the utility of the property in a very proper way and that is always
very important for the actual development of the property. An Architect knows
the typology and has thorough knowledge about the use of the typology to be
proposed and constructed.
With the quality of vision along with creativity and imagination, an Architect
can always guide the client or developer in the right direction.
The promoter seeking registration of the ongoing project has to obtain an
architect certificate, who after inspecting the site of the project certified certain
particulars which are:
- Percentage of Completion of Construction Work
- While inspecting he has look into factors such as:
o Excavation
o number of Basement(s) and Plinth
o number of Podiums
o Stilt Floor
3. o number of Slabs of Super Structure
o Internal Walls, Internal Plaster, Floorings within Flats/Premises,
Doors and Windows to each of the Flat/Premises.
o Sanitary Fittings within the Flat/Premises, Electrical Fittings within
the Flat/Premises. 8. Staircases, Lifts Wells and Lobbies at each
Floor level connecting Staircases and Lifts,Overhead and
Underground Water Tanks.
o The external plumbing and external plaster, elevation, completion
of terraces with waterproofing of the Building/Wing.
o Installation of lifts, water pumps, Fire Fighting Fittings and
Equipment as per CFO NOC, Electrical fittings to Common Areas,
electro, mechanical equipment, Compliance to conditions of
environment /CRZ NOC, Finishing to entrance lobby/s, plinth
protection, paving of areas appurtenant to Building/Wing,
Compound Wall and all other requirements as may be required to
obtain Occupation / Completion Certificate
o Internal and External Development Works in respect of the entire
Registered Phase
The architect shall certify that the physical condition at the site is built as per
the sanctioned plan which the promoter may use while seeking % of
withdrawals from the bank requiring to meet the cost of construction. The
project architect is also required to certify the certificate on completion of each
of the Building/Wing.
B. Role of Engineer:
Engineer:
It is well known that among other issues structural deficiency founded in the
construction was one of major concern of construction industry for the longest
4. however, in order avoid the situation the RERA 2016 has by taking note of it
introduced certain measures.
First being the engineer’s certificate which is mandatory to be submitted by the
promoter while seeking registration of the concerned real estate project. That
has to be in Form 2 as has been prescribed under Regulation 3 of MahaRERA
General Regulations, 2017. While certifying the same the engineer is required
to provide certain particulars such as
I. estimated cost of the completion to obtain
Occupation Certificate/ Completion Certificate, of
the Civil, MEP and Allied works, of the
Building(s) of the project
II. Cost incurred on the project so far
III. Total Estimated cost of the Internal and External ,
Development Works including amenities and
Facilities in the layout as on date of Registration
IV. Cost Incurred on Additional /Extra Items as on
registration date not included in the Estimated Cost
The other responsibility of engineer is to prove strcutural stability certificate.
Although the act has not mandatorily asked for it to connect it while registering
the project. However, states like Andhra Pradesh have specifically mentioned in
their rules to connect it while registering the project.
Under Andhra Pradesh RERA (Rule 3B (1) of APRERA Rules, 2017) among
other documents that are necessary to be submit by promoter in order to register
his real estate project, a Structural Stability Certificate duly issued by Certified
Structural Consultant/Engineer along with the details of parameters followed for
verification of structural stability is also a requirement.
5. Format of Structural Stability Certificate
STRUCTURAL STABILITY CERTIFICATE
Name of the Promoter (individual /Firm):
………………………………………………………………..
Project Name:
……………………………………………………………………………………
……………………..
Location of the Project:………………………….. Survey
no:………………………………. Locality:…………………………………
Village/City :……………………………………………………………..
Mandal :…………………………………..District:
………………………………………………………...........
Total No. of
Floors……………………………………………………………………………
………………………..
(Eg. Roofed cellar+ Stilt+ Ground+ Upper Floors)
(Residential/Mixed
Development/Commercial)…………………………..…………..Apartment
Belongs
to…………………………………………………………………………………
……………………………….
Sl.No Items Parameters/Standards/Relevant Codes
6. 1 Concrete
2 Steel
3 Soil
4 Foundations
5 Others
Soil Test Report
By…………………………………………………………………………………
…… Pvt Ltd.
I/We declare that …………………………………………………thestructure
design provided are safe and stable to the best of my knowledge
Signature of Structural Engineer
Quality assurance:
An Engineer who supervises the work appointed by Promoter in order to ensure
the quality of the materials being used on the project have to prepare Certificate
for Quality Assurance A format for this purpose has been proposed and
designated as Form-2A. All the real estate projects registered
after 01.12.2018 with MahaRERA are required to submit quarterly information
in Form 2A. The Form 2A shall be uploaded by the end of every financial
quarter.
The consumers will also get benefited from these certifications as they will
receive a “quality certificate” of the constructions made under these registered
projects.
In nutshell the promoter has to request an engineer who will supervise the work
and quality of construction material and will submit the quality certificate as
7. under Form 2A and by this the entire process will become transparent and
everyone will be assured of quality of the projects and the buyer can raise
objections as and when required if the material differs.
Certificate required for withdrawal:
As section 4(2)(l)(D) requires promoters shall obtain from these 3 professional’s
that is Engineer, Architect and Chartered Accountant’s certificates from time to
time to withdraw the money from the scheduled Bank maintaining sepearate
Account of project based on % of development of the project. The engineer has
certify that the items shown in the cost of construction is matching to the
physical condition at the site of the real estate project.
C. Role of chartered accountant
Like the above two professionals the chartered accountant is also required to
give promoter certificate (Form 3 reg. 3 of MahaRERA General Regulations,
2017) which he will needing to fufill the registration requirements. The said
certificate is also necessary for seeking withdrawals from separate account
maintained by builder in scheduled bank containing 70% amount realised from
allottees towards real estate project.
The content of certificate will include belwo particulars:
A. Land cost
b. Acquisition Cost of Land or Development Rights, lease
Premium, lease rent, interest cost incurred or payable on
Land Cost and legal cost.
c. Amount of Premium payable to obtain development rights,
FSI, additional FSI, fungible area, and any other incentive
under DCR from Local Authority or State Government or
any Statutory Authority.
d. Acquisition cost of TDR (if any)
8. e. Amounts payable to State Government or competent
authority or any other statutory authority of the State or
Central Government, towards stamp duty, transfer charges,
registration fees etc ; and
f. Land Premium payable as per annual statement of rates
(ASR) for redevelopment of land owned by public
authorities.
g. Under Rehabilitation Scheme :
I. Estimated construction cost of rehab building
including site development and infrastructure for
the same as certified by Engineer.
II. Actual Cost of construction of rehab building
incurred as per the books of accounts as verified by
the CA.
III. Cost towards clearance of land of all or any
encumbrances including cost of removal of
legal/illegal occupants, cost for providing
temporary transit accommodation or rent in lieu of
Transit Accommodation, overhead cost,
IV. Cost of ASR linked premium, fees, charges and
security deposits or maintenance deposit, or any
amount whatsoever payable to any authorities
towards and in project of rehabilitation
B. Development Cost/ Cost of Construction :
a.
(i) Estimated Cost of Construction as certified by
Engineer.
9. (ii) Actual Cost of construction incurred as per the books
of accounts as verified by the CA.
(iii) On-site expenditure for development of entire project
excluding cost of construction as per (i) or (ii) above, i.e.
salaries, consultants fees, site overheads, development
works, cost of services (including water, electricity,
sewerage, drainage, layout roads etc.), cost of
machineries and equipment including its hire and
maintenance costs, consumables etc. All costs directly
incurred to complete the construction of the entire phase
of the project registered.
b. Payment of Taxes, cess, fees, charges, premiums,
interest etc. to any statutory Authority.
c. Principal sum and interest payable to financial
institutions, scheduled banks, non-banking financial
institution (NBFC) or money lenders on construction
funding or money borrowed for construction
2. Total Estimated Cost of the Real Estate Project [1(i) +
1(ii)] of Estimated Column.
3. Total Cost Incurred of the Real Estate Project [1(i) +
1(ii)] of Incurred Column.
4. % completion of Construction Work % (as per Project
Architect’s Certificate)
5. Proportion of the Cost incurred on Land Cost and
____________% Construction Cost to the Total
Estimated Cost. ( 3/2 %)
10. 6. Amount Which can be withdrawn from the Designated
Account
7. Amount withdrawn till date of this certificate as per the
Books of Accounts and Bank Statement.
8. Net Amount which can be withdrawn from the
Designated Bank Account under this certificate.
Addtionally the chartered accountant is given with the responsibility to audit the
designated account in the schedule bank within six months at the end of every
financial years. While doing so he has to submit a statutory audit report as
prescribed under Regulation 4 of MahaRERA General Regulations, 2017 read
with second provision of section 4 (2) (l) (D) of RERA. Wherein he is required
to certify that the amount withdrawn has been utilized for project only for that
project and the withdrawal from the designated bank account(s) of the said
project has been in accordance with the proportion to the percentage of
completion of the project.
D. Role of Real Estate Agents:
The Real Estate Agent is one of key player in the real estate industry, whose
prime responsibility revolve around arranging real estate transactions, putting
buyers and sellers together and acting as their representative in negotiations.
The RERA 2016 requires the registration of this professional before they could
provided their services such as
- Facilitating the sale or purchase of or act on behalf of any person to
facilitate the sale or purchase of any plot, apartment or building, as the
case may be, in a real estate project or part of it
Registration of Real Estate Agents:
11. The Real Estate Agents willing provide service under the act has to make online
application to the concerned RERA under sub section (2) of section (9) based
on which the authority may either grant registration or may reject the
application if it doesn’t comply with provision. The manner of application,
grant of registration or rejection of application has to be studied with different
rules and regulation provided by concerned authority in addtion to the provision
of section 9 and 10 of the act.
For instance chapter III of MahaRERA Registraition rules provides provision of
registration of real estate agents:
As per rule 11 the real estate agent has took make application in form ‘G”
prescribed under the rules, and has to accompained belwo details:
(a) brief details of his enterprise including its name, registered address of place
of business, type of enterprise (proprietorship firm, societies, partnership,
company etc.); Registration numbers, PAN, Aadhar Card No, DIN, as the case
may be, under which returns are required to be filed with statutory authority;
(b) particulars of registration obtained under other laws, and rules and
regulations, as the case may be, along with the authenticated copy of partnership
deeds, memorandum of association, articles of association, etc.;
(c) recent colour photographs of the real estate agent, if an individual and of all
the partners, directors, trustees, etc. including persons in service or assigned
work expected on a real estate agent, in case of other entities;
(d) income-tax returns for last three financial years preceding the application or
in case the applicant was exempted from filing returns in any of the three year
preceding the application, a declaration to such effect;
12. (e) authenticated copy of the proof of address of the principal place of business,
number of branch offices if any along with contact details including Telephone
Numbers, Fax Numbers and email address; and
(f) details (if any) of all real estate projects and their promoters on whose
behalf he has acted as real estate agent in preceding five years;
(g) details of all civil or criminal cases pending against him if an individual or
any of the partners, directors, trustees etc. in case of other entities;
(h) authenticated copies of all letter heads; rubber stamp images,
acknowledgement receipts proposed to be used by the real estate agent;
(i) such other information and documents, as may be specified by regulations.
Fees of registration:
(i) A sum of rupees ten thousand, in case of applicant being an individual; and
(ii) rupees one lakh, in case of the applicant being other than an individual.
Upon making application the concerned applicant has to wait for 30 days after
wards the concerned authority may grant registration certificate in form “H” and
if it to be rejected it will be intimated in form “I”.
Renewal of registration:
A real estate agent to whom registration has been granted under section 9 may,
make an application for renewal of his registration, at least sixty days prior to
the expiry of the registration. The application shall be in Form 'J'. In case of
renewal of registration, the authority shall inform the real estate agent about the
same in Form 'K’ and in case of rejection of the application for renewal of
registration the authority, shall inform the real estate agent in Form ‘I’.
Obligations of registered real estate agents. –
13. (1) Every registered real estate agent shall prominently display number of his
Registration Certificate at the principal place of business and at its branch
offices.
(2) Every registered real estate agent shall quote his number of their registration
all the documents relating to advertisement, marketing, selling or purchase
issued by the real estate agent along with the number of registration certificate
of the real estate project.
Functions under section 10 :
(a) not facilitate the sale or purchase of any plot, apartment or building, as
the case may be, in a real estate project or part of it, being sold by the
promoter in any planning area, which is not registered with the Authority;
(b)maintain and preserve such books of account, records and documents as
may prescribed;
(c)not involve himself in any unfair trade practices, namely:—
(i) the practice of making any statement, whether orally or in writing or
by visible representation which—
(A) falsely represents that the services are of a particular standard or
grade;
(B) represents that the promoter or himself has approval or affiliation
which such promoter or himself does not have;
(C) makes a false or misleading representation concerning the services;
(ii) permitting the publication of any advertisement whether in any
newspaper or otherwise of services that are not intended to be offered.
(d) facilitate the possession of all the information and documents, as the
allottee, is entitled to, at the time of booking of any plot, apartment or
building, as the case may be;
accountability of Real estate agent under the act:
14. Section 62. If any real estate agent fails to comply with or contravenes
the provisions of section 9 or section 10, he shall be liable to a penalty of
ten thousand rupees for every day during which such default continues,
which may cumulatively extend up to five per cent. of the cost of plot,
apartment or buildings, as the case may be, of the real estate project, for
which the sale or purchase has been facilitated as determined by the
Authority.
Section 65. If any real estate agent, who fails to comply with, or
contravenes any of the orders or directions of the Authority, he shall be
liable to a penalty for every day during which such default continues,
which may cumulatively extend up to five per cent., of the estimated cost
of plot, apartment or building, as the case may be, of the real estate
project, for which the sale or purchase has been facilitated and as
determined by the Authority.
Section 66. If any real estate agent, who fails to comply with, or
contravenes any of the orders, decisions or directions of the Appellate
Tribunal, he shall be punishable with imprisonment for a term which may
extend up to one year or with fine for every day during which such
default continues, which may cumulatively extend up to ten per cent. of
the estimated cost of plot, apartment or building, as the case may be, of
the real estate project, for which the sale or purchase has been facilitated,
or with both.
E. Role of Advocate:
While the legally represent the client is by default will remain professional
requirement from advocate, there are much more opportunties provided under
RERA.
An advocate may advise their client on
a. Advice on Joint venture development
15. b. Advice on township development
c. Real estate promotion and development
d. Preparing lease and sale deed drafts
e. Advice and legal documentation of property buying/selling/lease
f. Tenant-landlord issues
g. Land use regulations
h. Finance and mortgage agreements
i. Building, development and construction contracts
j. House tax disputes
k. Project and retail property transactions
l. Land Use Regulations
m. Mortgage and Finance Agreements
n. Building, Development and Construction Contracts
o. Other Tax disputes (GST and other)
p. Projects and retail propertytransactions.
Paperwork vetting by the lawyer:
a. Enlightens the buyer about the property history / third party
interfering (if any)
b. Acquires complete details of the original owner and previous
owners
c. Checks for the rights of easements involved and the minor’s
rights (if any)
d. Checks for the Encumbrances (if any)
e. Current property status / encroachments on the property
f. Checks for the property revenue records such as Patta /
Khata / Tax records
g. Checks for property disputes / court involvements /
pathways disputes / violations on the property
16. Opportunities to be appointed as Judicial Member of REAT:
an advocate for at least twenty years with experience in dealing with real estate
matters is eligible to be appointed as the Judicial member of the Real Estate
Appellate Tribunal
F. Consultancy opportunities:
Any person possession sound knowledge of real estate, regulatory procedures,
finance, investments belonging to any profession ranging from finance, law,
taxation, accountancy, advisory, buisness management may provide their
professional excellency serivce in the form of RERA consultant. There are
several factors involves that requires consultancy where such eligible may seek
opportunities:
a. Project fund planning before registration
Source of intial funding
Expected customer collections
Cost of land plus intial promotion
b. Review of advertising brochure
False/non-realistic statement or data attracts rejection of
application
Interest plus penalty
Bad track record for the future
c. Project registration with authority
Complete online process
Required document and information
Seeking necessary approval from competent local authority in
nature of commencement certificate, IOD, NOC from various
departments etc.
17. List of documents List of Authorities
1. ownership certificate/Extract
2. Non-agriculture permission
a. The Revenue Department
https://rfd.maharashtra.gov.in/
en
3. Building layout approval document
(the person may seek information
regarding the site inspection from the
Building Proposal Office of
Municipal Corporation)
4. structural engineer approved
structural plans submitted by the
promoter
5. Occupancy certificate/ Building
Completion Certificate
b. The Development Authority/
or the local Municipal
Authority (in case of Mumbai
district this may be obtained
from Bombay Municipal
Corporation
https://portal.mcgm.gov.in/irj/
portal/anonymous )
c. intimation of disapproval" (building
permit)- the IOD requires NOCs from
various government authorities and
the Final clearance to build
(Commencement Certificate) will
only be given once the company
obtains all NOCs and meet all IOD
conditions.
d. Commencement certificate
e. The Building Proposal Office
https://autodcr.mcgm.gov.in/b
pamsclient2/Login.aspx
6. NOC from Tree Authority f. Tree Authority Committee/
Water and Drain Department/
Sewage Department/
18. Electrical Department/ Traffic
and Co-ordination department/
Chief Fire Officer under
Municipal Corporation
https://portal.mcgm.gov.in/irj/
portal/anonymous
7. The Environmental clearance g. The Ministry of Environment,
Forest and Climate Change /
the State Environment Impact
Assessment Authority
(SEIAA)/ State level expert
Appraisal
Committeehttp://environmentc
learance.nic.in/
8. The Ancient Monument Approval h. The Archeological survey of
Indiahttp://asiegov.gov.in/
9. The Establishment consent i. The Pollution control board
https://mpcb.gov.in/node
10.NOC by Airport Authority of India j. The Civil Aviation
Departmenthttps://www.civila
viation.gov.in/
11.Borewell registration certificate k. The Central Ground Water
Authorityhttp://cgwa-
noc.gov.in/LandingPage/index
.htm
12.NOC if project near the costal area l. The Coastal Zone
19. Management
Authorityhttps://mczma.gov.in
/
13.The Lift Escalator Installation
Approval
14.The Public Work
Departmenthttps://pwd.mahar
ashtra.gov.in/
d. Project fund moniteering
Trace the project funds
How much is cost incurred?
How to take effect of cancellation and refund?
Hwo much fund will be required to complete the project?
Single or project wise multiple accoutns?
Books of accounts to be desinged in way that will answer all this
questions
e. Deposit of 70% funds
Amounts realised from the allottees towards real estate projects
that is deposited in separate account maintained under schedule
bank
Withdrawal reason should be pertaining to land cost and
construction cost only
In proportion ot % completion of project
f. Certificate for withdrawals of funds
Certificates to be collected from professionals such as project
architect, engineer, chartered accountant in practice.
In proportion to % completion beofre the withdrawal is made
Advise on such certificates such as
- Maximum amount that can be withdrawn
20. - Method of determining the % of withdrawal for completion of project till
date
g. Audit
Statutory requirement of audit certificate from chartered accoutant
within 6 months from close of financial year
CA to give certificate over
- Amount collected for the project have been utilised for the same project
- Withdrawal has been in complaince with the proportion to the % of
completion of the project
h. Routine compliance work
Updating the authority time to time as per the act and rules, regulations
made thereunder by the concerned authority
Response to any clarification ask from authority
Supervising the book of accounts
Overall moniteering the activities and ensuring same within the
framework of procedure
i. Appearance before authority/tribunal
Guiding or assisting in case litigation invovles
Legally represent client in the capacity of CA/CA,CMA or Advocate
G. Professionals eligibile for legal representation:
The act under section 56 allows the aggrived person to be representated by any
of the below mentioned professionals:
q. Chartered accoutant
r. Company secretary
s. Cost accountant
t. Legal practitioner / advocate
21. The Real Estate Regulatory Authority that is estabished under section 20 (1) of
the Real Estate (Regulation and Devlopment) Act, 2016 which is effective since
1st May 2017 is a fascinating field for this non-advocate professional in
additional to lawyers to impart their expertise in order to assist Promoters as
well as the Real Estate Agents and allottees. The act also provides for the
establishment of the Real Estate Appellate Tribunal under section 43. The state
government by invoking section 20 (1) and 43 established State Real Estate
Regulatory Authorities and consequently the State Real Estate Appellate
Tribunal respectively.
Following are the opportunities provided under the Act to Chartered
Accountants, Cost and Management Accountants, Advocates and Company
Secretaries:
A. To present the case before the Appellate Tribunal or the
Regulatory Authority or the adjudicating officer;
B. Drafting of Reply to show cause notice; appeal etc.;
C. Assisting client in respect of filing of application for
registration under the Act;
D. Preparing up-to-date list regarding number and types of
apartments or plots, garages booked;
E. Assisting client in taking approvals which are pending
subsequent to commencement certificate;
F. Assisting client in obtaining completion certificate or the
occupancy certificate;
G. Assisting client in obtaining the lease certificate and any
other certificates as and when required;
H. Assisting client in preparing various documents, agreement
and deed from time to time;
22. I. Help in maintaining web page and providing information
as are required to be mentioned on that web page;
J. Providing consultancy/opinion with respect to various
transaction under RERA and other laws;
K. Provide assistance with regard to any other information
and documents as may be demanded by the Authority;
Valuation of projects under RERA.
Duties of professionals legally representing their client:
The professionals engaged as legal representatives by the parties to the
complaint should make aware of all their rights and duties throughout the
proceedings. To expedite the proceedings, an urgent precipe may be moved,
also producing all the relevant documentation may avoid the unnecessary
postponing of the hearing for reason want of production of same.
The representative should responsibly serve necessary documents upon the
other and take acknowledgment without fail so the practice of seeking
additional time for serving the necessary copies be prevented, which can
certainly fasten the hearing process.
The legal representative along with the complainant should take an active role
in convincing the presiding members of facts and claim completely, certain
landmark judgments may be taken as support to strengthen the relief ask for.
This appointed legal representative is permitted to appear before all of the
below-listed forums as consented by the concerned party:
a. before the Adjudicating Authorities under RERA in the process of
complaint
b. before the Real Estate Appellate Tribunal
23. c. before the Conciliation and Dispute Resolution Forum
d. before any other competent authority for any other purpose under the
Real Estate (Regulation and Development) Act, 2016.
When representative the party in court or any quasi judicial forum every person
whether or not from a legal professional background must pledge to their client
the following:
a. that he shall protect client’s confidentiality
b. that he will conduct proper study of law and provide expert advice
c. protecting the best interest of their clinet and not conduct or do any act
that will certainly jeopardize his client interest
d. follow the procedural rules, maitain discipline and adhere to the law,
ethics etc.
e. to approach appropriate method that will help in deciding their client
matter on merits
Since the process of seeking relief may involve a lot of stages and approaching
different forums, it advisable to keep the constant representatives like the person
who has witnessed the matter from the very start is well familiar with the in and
out of the matter, therefore it certainly helps in better representation before
further forums.
The representative should always seek the best interest of the party they are
appearing for. Since the act permits several non-legal professionals to appear in
proceedings, such a legal representative can inculcate the art of advocacy. There
is always a chance of improvisation. The legal representative must be polite,
non-insultive and most importantly they should be prepared with facts, active in
filing replies, submission, should possess the knowledge of relevant decisions
favoring their clients' case, and lastly, they should focus on how the proceeding
be concluded without seeking less adjournment at the same time they should be
24. attentive that the opponent or their representative may not seek unnecessary
adjournments.
The complainant has a right to ask for interim relief pending the final
adjudication of the matter for instance if the complaint involves the
compensation for delay in delivery of possession on part of the promoter, then
the allottee may seek an interim relief of immediate possession of concerning
apartments. The power of issuing interim orders is given under section 36 of the
act.
Further, the rules enacted by the respective state RERA contained the whole
procedure of deciding the complaint by the authority. For instance MahaRERA
under rule 6 of the Maharashtra Real Estate (Regulation and Development)
(Recovery of Interest, Penalty, Compensation, Fine payable, Forms of
Complaints and Appeal, etc.) Rules, 2017 provides a detailed procedure and
manner to be effectuated when deciding a complaint by authority.
A detailed description of such a procedure is provided below:
a. RERA upon receipt of complaint application issues notices to the
concerned opposite party (respondent) along with the detailed
particulars of the alleged contravention and documents. Such notice
has contained the details of the time and date of hearing fixed by the
authority.
b. On the day of hearing the authority introduced the respondent with the
alleged contravention made under the act, rules, and regulations made
thereunder.
Certain possibilities may occure
1. Either the respondent plead guilty – in such case the authority
passed the necessary order after recording the plea and imposed
relevant penalty
25. 2. Or the repsondent does not plead guilty- in such case the authority
demand explaination from the respondent and hearing may
continued for the purpose adjudication
c. Upon the justification by the respondent the authority is of the view
that no inquiry into the facts required it altogether dismiss the
complaint
d. However if in view of authority inquiry is to be made, the next hearing
is to arrange wherein demand of production of documents and
necessary evidence be made
e. After a thorough analysis of facts, submissions, rejoinders, supporting
evidence, the authority come to conclusion and either find the
respondent guilty or not guilty under the alleged contravention, and
pass the final order accordingly
f. The authority even have the power to make ex parte order in the event
when respondent absent in the proceedings
g. The same procedure is to follow by the Adjudicating officer in
deciding the application for claim of compensation
h. Since the act under section 29 cast an obligation on part of the
authority to dispose of the question come up before it in an
expeditious manner that is within sixty days of the complaint, it
certainly motivates for the fast track redressal of dispute.
Dress and Discipline
The RERA of every state have provided the Rules and Regulations provision of
which more or less is same. From the procedural conduct point of view let’s
take a look at the Maharashtra Real Estate Appellate Tribunal Regulations, 2019
The Maharashtra Real Estate Appellate Tribunal by invoking power under
section 53(2) of the Real Estate (Regulations and Development) Act, 2016 have
made this regulation with the intent to regulate its own practice and procedure.
26. Under chapter IV of the Regulation, the Regulation 5 requires the legal
representative if they have been prescribed a dress for appearing in their
professional capacity before any Court, Tribunal or Appellate Tribunal or other
such authority, may at their option, wear the same dress.
PROCESS OF APPEAL:
The Real Estate Appellate Tribunal established Chapter VII of RERA
particularly section 43(1) are conferred with power decide an appeal against the
order passed by RERA or an Adjudicating Authority. Sub section 5 of section
43 mandate that such appeal must be made within 60 days from the reciept of
impugned order, however in the event when the appeal is moved by the
promoter, it is an obligation upon him to deposite atleast 30% of the penalty
including compensation that were imposed upon him. The process of filling an
appeal is almost same to the filling of original complaint, since by that time the
concerned is well knowledged with the practical conduct of the forum, he may
make best possible use of it. The aggrived party must enclosed the imugned
order which is to be challenged in the appeal with a precise point contesting the
order/decision of the authority and stating why it is not justified.
However if the person is not satisfied with the order of appellate tribunal he
may proceed with another appeal in next higher authority which is the High
Court under section 58 of RERA. Such appeal has to be made within 60 days.
Chapter VI of the Regulation provides for the presentation of proceedings
Regulation 9: Presentation of Proceedings
i. All appeals to be instituted with the Tribunal shall be presented online in
‘Form C’ as prescribed.
ii. Every appeal shall be accompanied by an appeal fee of Rs. 5000/- (Rupees
Five Thousand) payable only online.
27. iii. The hard copy of such appeals along with attachments shall be presented to
the Office of the Registrar to the authorised person within seven (7) days
from the date of online filing. On failure to submit hard copies within time,
such appeals shall be notified by the Registry for dismissal for want of hard
copies.
iv. All other proceedings with attachments, if any, shall be instituted in the
Office of the Registrar till the online system is in place.
v. All proceedings to be presented to the Tribunal shall be in English and in
case it is in some other language, it shall be accompanied by a true
translation of the same in English and shall be legible, type-written or
printed in double spacing with proper margin, duly paginated, indexed and
stitched together in paper book form and shall be presented in triplicate.
vi. The authorised official, on receipt of proceedings as per (ii), (iii) and (iv)
above, shall affix the date and seal of the Tribunal on all pages under his
initials and thereafter shall on the same day send to the Registrar.
vii.Court fee stamps affixed on Vakalatnama, Letter of Authorisation and the
documents shall be checked and entered after due cancellation in the Court
Fee Register to be maintained as per the procedure.
viii. In case of delay, if the last day of filing appeal falls on a holiday, that day
and succeeding holidays shall be excluded for the purpose of reckoning the
period of limitation. Appeal should be presented on the next working day
succeeding the holidays from the last date of limitation.
ix. On examination of appeals, if the Registrar finds the same in order he shall
seek appropriate orders for allotment of appeal.
Regulation 10. Documents to accompany Memorandum of Appeal
i. Memorandum of Appeal with attachments with adequate number of
copies to be served on respondents;
28. ii. If appeal is presented through an Advocate, necessary Vakalatnama
duly attested with necessary court fee stamp and Advocate Welfare
Fund Stamp if applicable. Vakalatnama shall contain the address of
the advocate with Enrollment Number, email ID, Mobile Number etc.
for proper communication;
iii. In the event a proceeding is filed by an authorised representative,
chartered accountant, cost accountant or company secretary as
provided in Section 56 of the Act, Power of Attorney or authority
letter in original;
iv. Certified copy of impugned order; v. All the documents shall be
produced along with the list of documents (Form B);
v. An application for condonation of delay when appeal is presented after
expiry of period of limitation;
vi. Other documents, if any in accordance with the law and rules framed
thereunder.
Furhter chapter IX of the Regulation providing for the mandate of Hearing
appeal before the tribunal required that the the document which are not
previously relied in complaint before the RERA shall not be produced at the
time of filling the appeal unless an application for filling additional document or
evidence, the same has to be considered by the appellate tribunal which also
required to give proper opportunity to the other side. The act mandate a time
limit of 60 days upon the tribunal to dispose the appeal [section 44(5)]
Since all the appeal u/s 44 of the act to be filed before the Maharashtra Real
Estate Appellate tribunal, to be in form C contained under the Regulation.
PROCEDURE OF CONCILIATION IN RERA MATTERS
The RERA is one such legislation which along with providing the transparency
in the real estate transaction have sufficiently given boost the amicable solution
29. of dispute. The State Real Estate Regulatory Authority under section 32 of the
act have entrusted with a duty to faciliate measures to promote the conciliation
of disputes between promoters and the allottees. It is in exercise of such power
contained under section 32 (g) the State RERA have provided a conciliation
forums however only Disputes between promoters and allotees which are under
purview of Real Estate (Development and Regulation) Act 2016, Rules and
Regulations made thereunder shall be admissible by the Forum.
Nonethless this have opened yet another opportuntiy door for the professionals
eligible to legally represent their client can appear before such conciliation
forum.