The document provides an analysis of the Real Estate (Regulation and Development) Act, 2016 in India. It summarizes the key objectives and features of the Act, which are to protect home buyers, establish regulatory authorities, mandate project registration, regulate funds, and provide compensation. However, it also notes drawbacks such as delays in establishing authorities, conflicts with existing sales, and issues with the 70% deposit requirement. In conclusion, while the Act aims to address important issues, proper implementation of rules will be critical to achieving its goals.
The document discusses the key features of the Real Estate (Regulation and Development) Act 2016 in India. It establishes the Real Estate Regulatory Authority which will regulate real estate transactions and ensure timely completion of projects. Key features include developers having to register projects with the Authority, disclose all relevant information, use only carpet area for sale calculations, refund buyers if possession is delayed, and face penalties for non-compliance. The Act aims to boost the real estate sector and protect homebuyers.
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
The document discusses penalties, appeals, and opportunities for chartered accountants under the Real Estate Regulatory Authority Act (RERA) of 2016 in India. It outlines penalties for promoters, agents, and allottees for various offenses. It also describes the appeals process, including appeals of RERA decisions to the Appellate Tribunal and High Court. Finally, it discusses roles and opportunities for chartered accountants under RERA, such as providing required certificates and auditing project accounts.
The document discusses key aspects of the Real Estate (Regulation And Development) Act, 2016 (RERA) in India, including:
1) Penalties and prosecutions under RERA for promoters, agents, and allottees for various offenses.
2) The role of Chartered Accountants in providing certifications required under RERA for project registration and withdrawals from escrow accounts.
3) Opportunities for Chartered Accountants in representing clients before RERA authorities, conducting required audits, and other advisory services.
The Real Estate (Regulating and Development) Act was passed in 2016 to bring transparency, efficiency and professionalism to the real estate sector by regulating residential and commercial projects over 500 sq meters and requiring registration of projects and real estate agents. The Act establishes a Real Estate Regulatory Authority and Appellate Tribunal to oversee developers and agents and handle consumer complaints, but some states have been slow to fully implement the law and certain provisions can be diluted at the state level. The legislation aims to protect consumers but may also increase costs and prices for home buyers.
The document summarizes the key aspects of the Real Estate (Regulation and Development) Act, 2016 in India. It establishes state level regulatory authorities to regulate the real estate sector and provide homebuyers protection. It mandates registration of real estate projects and agents. Developers must disclose all project details and maintain 70% of funds in separate accounts. The Act aims to boost transparency, accountability and boost investment in the sector.
Real Estate (Regulation and Development) Act 2016Keyur Shah
The document discusses key aspects of the Real Estate (Regulation and Development) Act, 2016 in India. It outlines the history of the legislation, its main objectives to regulate the real estate sector and protect consumer interests, basic features including project registration requirements, and details on obtaining project registration and maintaining the required website information. Only 13 states have so far notified rules to establish regulatory authorities to oversee implementation of the Act.
The document discusses the key features of the Real Estate (Regulation and Development) Act 2016 in India. It establishes the Real Estate Regulatory Authority which will regulate real estate transactions and ensure timely completion of projects. Key features include developers having to register projects with the Authority, disclose all relevant information, use only carpet area for sale calculations, refund buyers if possession is delayed, and face penalties for non-compliance. The Act aims to boost the real estate sector and protect homebuyers.
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
The document discusses penalties, appeals, and opportunities for chartered accountants under the Real Estate Regulatory Authority Act (RERA) of 2016 in India. It outlines penalties for promoters, agents, and allottees for various offenses. It also describes the appeals process, including appeals of RERA decisions to the Appellate Tribunal and High Court. Finally, it discusses roles and opportunities for chartered accountants under RERA, such as providing required certificates and auditing project accounts.
The document discusses key aspects of the Real Estate (Regulation And Development) Act, 2016 (RERA) in India, including:
1) Penalties and prosecutions under RERA for promoters, agents, and allottees for various offenses.
2) The role of Chartered Accountants in providing certifications required under RERA for project registration and withdrawals from escrow accounts.
3) Opportunities for Chartered Accountants in representing clients before RERA authorities, conducting required audits, and other advisory services.
The Real Estate (Regulating and Development) Act was passed in 2016 to bring transparency, efficiency and professionalism to the real estate sector by regulating residential and commercial projects over 500 sq meters and requiring registration of projects and real estate agents. The Act establishes a Real Estate Regulatory Authority and Appellate Tribunal to oversee developers and agents and handle consumer complaints, but some states have been slow to fully implement the law and certain provisions can be diluted at the state level. The legislation aims to protect consumers but may also increase costs and prices for home buyers.
The document summarizes the key aspects of the Real Estate (Regulation and Development) Act, 2016 in India. It establishes state level regulatory authorities to regulate the real estate sector and provide homebuyers protection. It mandates registration of real estate projects and agents. Developers must disclose all project details and maintain 70% of funds in separate accounts. The Act aims to boost transparency, accountability and boost investment in the sector.
Real Estate (Regulation and Development) Act 2016Keyur Shah
The document discusses key aspects of the Real Estate (Regulation and Development) Act, 2016 in India. It outlines the history of the legislation, its main objectives to regulate the real estate sector and protect consumer interests, basic features including project registration requirements, and details on obtaining project registration and maintaining the required website information. Only 13 states have so far notified rules to establish regulatory authorities to oversee implementation of the Act.
The Real Estate (Regulation and Development) Act was passed in 2016 to protect home buyers and boost investment in real estate. It establishes the Real Estate Regulatory Authority (RERA) and mandates that all residential and commercial projects register with RERA. Projects must disclose all details online and obtain registration to launch. The Act also prohibits opaque financing and requires prices to be quoted based on carpet area. It introduces penalties for project delays and changes from what was promised. [/SUMMARY]
Real Estate (Regulation and Development) Act, 2017CS Lokesh Shah
The document outlines the Real Estate (Regulation and Development) Act, 2017 in India. Some key points:
- The Act was passed by the Lok Sabha in March 2016 and most sections were notified and came into effect in May 2017.
- It establishes the Real Estate Regulatory Authority (RERA) to regulate and promote the real estate sector, ensuring transparent and efficient transactions.
- It defines provisions for registration of real estate projects and real estate agents. Promoters must make certain disclosures and deposit a portion of funds in a separate escrow account.
- It defines rights of allottees and obligations of promoters, such as handing over possession in a timely manner, obtaining all approvals, and
The Real Estate (Regulation and Development) Act, 2016 came into force on May 1, 2016 to regulate the real estate sector and protect consumer interests. 69 of 92 sections were notified, establishing Real Estate Regulatory Authorities and Appellate Tribunals and defining key terms. Rules must be formulated by October 31, 2016 and authorities set up within one year to begin operationalizing the Act. This will mark the start of regulating real estate transactions and executions of projects in a timely, efficient and transparent manner.
This document provides an overview of the Maharashtra Real Estate Regulatory Authority (MahaRERA). Some key points:
1. MahaRERA was established in 2017 to regulate and promote the real estate sector in Maharashtra.
2. It has jurisdiction over the entire state and all commercial and residential projects must register with MahaRERA, with some exceptions.
3. MahaRERA oversees the registration of real estate projects and agents. It also handles complaints filed by homebuyers and promoters.
4. The document outlines the registration processes and requirements for projects and agents. It also discusses financial compliance rules.
What is a completion certificate and how to apply for it? As the name suggests, this certificate is granted after the completion of construction of your house or a group housing society. The certificate is issued when the property is ready to be moved in. Completion certificate is issued by the local development authority/Municipal Corporation.
The document provides an overview of the Real Estate (Regulation and Development) Act and its objectives, journey, nature and scope. It defines important terms under the Act like promoter, allottee, real estate project, and real estate agent. It outlines the key authorities established under the Act - the Real Estate Regulatory Authority and Appellate Tribunal. It discusses the functions and powers of RERA, and the process for mandatory registration of new and ongoing real estate projects, along with exemptions. It also provides details on the modus operandi for registration of projects in Telangana, including applicable fees and required documents.
RERA aims to increase transparency and protect home buyers in the real estate sector. It requires developers to register projects and disclose all relevant information to buyers. Key provisions for buyers include maintaining 70% of funds in separate escrow accounts, defining carpet areas, establishing resident welfare associations, and allowing refunds for delays or structural defects. RERA will impact builders by requiring greater financial strength and transparency, while real estate agents must register and disclose all project details to customers. Overall, RERA is expected to benefit the industry through increased regulation and transparency.
The document summarizes the key aspects of the Real Estate (Regulation and Development) Act, 2016 in India. Some key points:
1) The Act establishes a regulatory authority called the Real Estate Regulatory Authority (RERA) to regulate real estate projects and protect homebuyer interests.
2) It mandates registration of real estate projects with the RERA. Developers must disclose project details and deposit 70% of funds in a separate escrow account to provide transparency.
3) The Act introduces measures like faster dispute resolution, restrictions on deposit collection to prevent fraud/delays, and penalties for non-compliance.
4) It aims to boost accountability, transparency and professionalism in the
RERA aims to protect home buyers and boost real estate investments. It establishes regulatory authorities in each state to register real estate projects, require developers to deposit 70% of funds in escrow accounts, standardize sale agreements, and define carpet area. RERA is expected to increase transparency, reduce delays and diversions of funds, and provide dispute resolution mechanisms to help address issues faced by home buyers. While it increases compliance costs for developers initially, RERA is hoped to improve governance and accountability in the real estate sector over the long term.
Impact of RERA 2016 on property markets - Sandeep JhunjhunwalaSandeep Jhunjhunwala
The document discusses the Real Estate (Regulation and Development) Act, 2016 and its impact on property markets in India. It provides an overview of the presentation, including the need for the Act, its structure and key sections. It outlines the Act's application to developers, real estate agents, allottees and regulatory authorities. Developers must now register projects with the Real Estate Regulatory Authority and comply with obligations around disclosures, funds usage and completion timelines.
The document summarizes key aspects of the Real Estate (Regulation and Development) Act, 2016 enacted by the Government of India to regulate the previously unregulated real estate sector.
The Act establishes a Real Estate Regulatory Authority (RERA) in each state to register real estate projects and real estate agents, maintain records, ensure compliance, and resolve disputes. It also establishes an Appellate Tribunal to hear appeals of RERA decisions.
The Act mandates registration of real estate projects with the RERA, except for small projects. It also requires registration of real estate agents. Promoters have functions like maintaining project details on the RERA website and providing information to allottees. The Act aims
Ready to move flats in noida extension | ExoticaHousing.inExotica Housing
The latest frameworks for the construction industry is followed by Exotica Housing which enables us to offer completely legal and safe possessions to our esteemed clients of the ready to move flats in Noida extension.
The Real Estate (Regulation and Development) Bill 2016 establishes a regulatory authority called the Real Estate Regulatory Authority (RERA) to regulate the real estate sector. Key aspects of the bill include compulsory registration of real estate projects and developers/agents with RERA, establishment of an escrow account where 70% of funds collected from customers must be deposited, and penalties for non-compliance including fines up to 10% of the project cost and imprisonment. The bill aims to improve transparency and protect home buyers.
REAL ESTATE REGULATORY AUTHORITY (RERA) ACT 2016Khyati Tewari
The document summarizes the Real Estate Regulatory Authority (RERA) Act of 2016 in India. It provides details on the timeline of the bill being introduced in 2013 and passed into law in 2016. Key points include mandatory registration of projects over 5000 sqm, disclosure requirements, escrow accounts, liability for builders, and rights for home buyers. While RERA aims to increase transparency and protect buyers, implementation depends on state governments who can modify rules. Overall, RERA seeks to regulate the real estate sector but challenges remain in coordinating with other agencies and fully addressing consumer concerns.
Impact of the Real Estate (Regulation and Development) Act, 2016 - Sandeep Jh...Sandeep Jhunjhunwala
The document is a presentation on the analysis and impact of the Real Estate (Regulation and Development) Act, 2016 in India. It provides an overview of the need for the act, its structure and key provisions. The act establishes a Real Estate Regulatory Authority in each state to regulate real estate projects and transactions. It impacts developers by requiring registration of projects with the authority and restricts use of funds collected from buyers. It also outlines various functions and duties of developers and rights of home buyers.
Real Estate Regulation and Developement Act (RERA) and Related Rules - Sandee...SS Industries
The document discusses the Real Estate (Regulation and Development) Act 2016 and related Rules. It provides an overview of the presentation, including the need and objective for the Act, the events leading up to its passage, its structure and key provisions. Some key points include that the Act aims to establish a regulatory framework for the real estate sector; it applies to residential and commercial projects over 500 square meters with more than 8 units. The Act provides for the establishment of a Real Estate Regulatory Authority in each state to regulate real estate transactions and promote compliance. [END SUMMARY]
The document summarizes key provisions of the Real Estate (Regulation and Development) Act 2016 in India. Some important considerations before and after launching a real estate project include registering the project with RERA, maintaining separate bank accounts for funds collected, adhering to sanctioned plans, obtaining necessary approvals, forming an association of allottees, and executing agreements for sale and conveyance deeds. The promoter must comply with obligations regarding insurance, refunds, compensation and more to protect consumer interests in the real estate sector.
Традиционно многие компании в России и мире стараются в дни Новогодних праздников объединить усилия сотрудников и сделать доброе дело для тех, кто в этом нуждается. Новогодняя благотворительность всегда связана с большим количеством ярких эмоций, впечатлений, красок. Однако у нее есть и обратная сторона: "Насколько это полезно для тех, кому мы помогаем из самых светлых побуждений?", "Не вызовет ли наша активность негативных последствий?".
27 октября мы провели воркшоп "Корпоративная благотворительность: новогодние практики", на котором постарались найти ответы на эти вопросы. Вашему вниманию презентация с этой встречи.
В презентации вы найдете:
- Примеры зарубежных новогодних благотворительных практик
- Полезные вопросы и приемы для работы с новогодним событием
- Кейс "Профориентационная елка для приемных семей"
- Схему "Елочка события", рассказывающую о подходе к созданию полезного благотворительного события.
Партнерство "Человек и Человек"
Алексей Газарян - педагог-психолог, консультант, методист и фасилитатор в сфере социальных и благотворительных проектов.
Артем Гебелев - психолог, бизнес-тренер, модератор
По всем вопросам пишите на zhivoy@yandex.ru
BPM se define como un tipo de software empresarial que permite a las empresas modelar, implementar y ejecutar conjuntos de actividades relacionadas entre sí como procesos dentro de departamentos o a nivel de la empresa completa, con extensiones para incluir a clientes, proveedores y otros participantes externos.
The Real Estate (Regulation and Development) Act was passed in 2016 to protect home buyers and boost investment in real estate. It establishes the Real Estate Regulatory Authority (RERA) and mandates that all residential and commercial projects register with RERA. Projects must disclose all details online and obtain registration to launch. The Act also prohibits opaque financing and requires prices to be quoted based on carpet area. It introduces penalties for project delays and changes from what was promised. [/SUMMARY]
Real Estate (Regulation and Development) Act, 2017CS Lokesh Shah
The document outlines the Real Estate (Regulation and Development) Act, 2017 in India. Some key points:
- The Act was passed by the Lok Sabha in March 2016 and most sections were notified and came into effect in May 2017.
- It establishes the Real Estate Regulatory Authority (RERA) to regulate and promote the real estate sector, ensuring transparent and efficient transactions.
- It defines provisions for registration of real estate projects and real estate agents. Promoters must make certain disclosures and deposit a portion of funds in a separate escrow account.
- It defines rights of allottees and obligations of promoters, such as handing over possession in a timely manner, obtaining all approvals, and
The Real Estate (Regulation and Development) Act, 2016 came into force on May 1, 2016 to regulate the real estate sector and protect consumer interests. 69 of 92 sections were notified, establishing Real Estate Regulatory Authorities and Appellate Tribunals and defining key terms. Rules must be formulated by October 31, 2016 and authorities set up within one year to begin operationalizing the Act. This will mark the start of regulating real estate transactions and executions of projects in a timely, efficient and transparent manner.
This document provides an overview of the Maharashtra Real Estate Regulatory Authority (MahaRERA). Some key points:
1. MahaRERA was established in 2017 to regulate and promote the real estate sector in Maharashtra.
2. It has jurisdiction over the entire state and all commercial and residential projects must register with MahaRERA, with some exceptions.
3. MahaRERA oversees the registration of real estate projects and agents. It also handles complaints filed by homebuyers and promoters.
4. The document outlines the registration processes and requirements for projects and agents. It also discusses financial compliance rules.
What is a completion certificate and how to apply for it? As the name suggests, this certificate is granted after the completion of construction of your house or a group housing society. The certificate is issued when the property is ready to be moved in. Completion certificate is issued by the local development authority/Municipal Corporation.
The document provides an overview of the Real Estate (Regulation and Development) Act and its objectives, journey, nature and scope. It defines important terms under the Act like promoter, allottee, real estate project, and real estate agent. It outlines the key authorities established under the Act - the Real Estate Regulatory Authority and Appellate Tribunal. It discusses the functions and powers of RERA, and the process for mandatory registration of new and ongoing real estate projects, along with exemptions. It also provides details on the modus operandi for registration of projects in Telangana, including applicable fees and required documents.
RERA aims to increase transparency and protect home buyers in the real estate sector. It requires developers to register projects and disclose all relevant information to buyers. Key provisions for buyers include maintaining 70% of funds in separate escrow accounts, defining carpet areas, establishing resident welfare associations, and allowing refunds for delays or structural defects. RERA will impact builders by requiring greater financial strength and transparency, while real estate agents must register and disclose all project details to customers. Overall, RERA is expected to benefit the industry through increased regulation and transparency.
The document summarizes the key aspects of the Real Estate (Regulation and Development) Act, 2016 in India. Some key points:
1) The Act establishes a regulatory authority called the Real Estate Regulatory Authority (RERA) to regulate real estate projects and protect homebuyer interests.
2) It mandates registration of real estate projects with the RERA. Developers must disclose project details and deposit 70% of funds in a separate escrow account to provide transparency.
3) The Act introduces measures like faster dispute resolution, restrictions on deposit collection to prevent fraud/delays, and penalties for non-compliance.
4) It aims to boost accountability, transparency and professionalism in the
RERA aims to protect home buyers and boost real estate investments. It establishes regulatory authorities in each state to register real estate projects, require developers to deposit 70% of funds in escrow accounts, standardize sale agreements, and define carpet area. RERA is expected to increase transparency, reduce delays and diversions of funds, and provide dispute resolution mechanisms to help address issues faced by home buyers. While it increases compliance costs for developers initially, RERA is hoped to improve governance and accountability in the real estate sector over the long term.
Impact of RERA 2016 on property markets - Sandeep JhunjhunwalaSandeep Jhunjhunwala
The document discusses the Real Estate (Regulation and Development) Act, 2016 and its impact on property markets in India. It provides an overview of the presentation, including the need for the Act, its structure and key sections. It outlines the Act's application to developers, real estate agents, allottees and regulatory authorities. Developers must now register projects with the Real Estate Regulatory Authority and comply with obligations around disclosures, funds usage and completion timelines.
The document summarizes key aspects of the Real Estate (Regulation and Development) Act, 2016 enacted by the Government of India to regulate the previously unregulated real estate sector.
The Act establishes a Real Estate Regulatory Authority (RERA) in each state to register real estate projects and real estate agents, maintain records, ensure compliance, and resolve disputes. It also establishes an Appellate Tribunal to hear appeals of RERA decisions.
The Act mandates registration of real estate projects with the RERA, except for small projects. It also requires registration of real estate agents. Promoters have functions like maintaining project details on the RERA website and providing information to allottees. The Act aims
Ready to move flats in noida extension | ExoticaHousing.inExotica Housing
The latest frameworks for the construction industry is followed by Exotica Housing which enables us to offer completely legal and safe possessions to our esteemed clients of the ready to move flats in Noida extension.
The Real Estate (Regulation and Development) Bill 2016 establishes a regulatory authority called the Real Estate Regulatory Authority (RERA) to regulate the real estate sector. Key aspects of the bill include compulsory registration of real estate projects and developers/agents with RERA, establishment of an escrow account where 70% of funds collected from customers must be deposited, and penalties for non-compliance including fines up to 10% of the project cost and imprisonment. The bill aims to improve transparency and protect home buyers.
REAL ESTATE REGULATORY AUTHORITY (RERA) ACT 2016Khyati Tewari
The document summarizes the Real Estate Regulatory Authority (RERA) Act of 2016 in India. It provides details on the timeline of the bill being introduced in 2013 and passed into law in 2016. Key points include mandatory registration of projects over 5000 sqm, disclosure requirements, escrow accounts, liability for builders, and rights for home buyers. While RERA aims to increase transparency and protect buyers, implementation depends on state governments who can modify rules. Overall, RERA seeks to regulate the real estate sector but challenges remain in coordinating with other agencies and fully addressing consumer concerns.
Impact of the Real Estate (Regulation and Development) Act, 2016 - Sandeep Jh...Sandeep Jhunjhunwala
The document is a presentation on the analysis and impact of the Real Estate (Regulation and Development) Act, 2016 in India. It provides an overview of the need for the act, its structure and key provisions. The act establishes a Real Estate Regulatory Authority in each state to regulate real estate projects and transactions. It impacts developers by requiring registration of projects with the authority and restricts use of funds collected from buyers. It also outlines various functions and duties of developers and rights of home buyers.
Real Estate Regulation and Developement Act (RERA) and Related Rules - Sandee...SS Industries
The document discusses the Real Estate (Regulation and Development) Act 2016 and related Rules. It provides an overview of the presentation, including the need and objective for the Act, the events leading up to its passage, its structure and key provisions. Some key points include that the Act aims to establish a regulatory framework for the real estate sector; it applies to residential and commercial projects over 500 square meters with more than 8 units. The Act provides for the establishment of a Real Estate Regulatory Authority in each state to regulate real estate transactions and promote compliance. [END SUMMARY]
The document summarizes key provisions of the Real Estate (Regulation and Development) Act 2016 in India. Some important considerations before and after launching a real estate project include registering the project with RERA, maintaining separate bank accounts for funds collected, adhering to sanctioned plans, obtaining necessary approvals, forming an association of allottees, and executing agreements for sale and conveyance deeds. The promoter must comply with obligations regarding insurance, refunds, compensation and more to protect consumer interests in the real estate sector.
Традиционно многие компании в России и мире стараются в дни Новогодних праздников объединить усилия сотрудников и сделать доброе дело для тех, кто в этом нуждается. Новогодняя благотворительность всегда связана с большим количеством ярких эмоций, впечатлений, красок. Однако у нее есть и обратная сторона: "Насколько это полезно для тех, кому мы помогаем из самых светлых побуждений?", "Не вызовет ли наша активность негативных последствий?".
27 октября мы провели воркшоп "Корпоративная благотворительность: новогодние практики", на котором постарались найти ответы на эти вопросы. Вашему вниманию презентация с этой встречи.
В презентации вы найдете:
- Примеры зарубежных новогодних благотворительных практик
- Полезные вопросы и приемы для работы с новогодним событием
- Кейс "Профориентационная елка для приемных семей"
- Схему "Елочка события", рассказывающую о подходе к созданию полезного благотворительного события.
Партнерство "Человек и Человек"
Алексей Газарян - педагог-психолог, консультант, методист и фасилитатор в сфере социальных и благотворительных проектов.
Артем Гебелев - психолог, бизнес-тренер, модератор
По всем вопросам пишите на zhivoy@yandex.ru
BPM se define como un tipo de software empresarial que permite a las empresas modelar, implementar y ejecutar conjuntos de actividades relacionadas entre sí como procesos dentro de departamentos o a nivel de la empresa completa, con extensiones para incluir a clientes, proveedores y otros participantes externos.
Pérez hidalgo, pons & mier-durante 2008 bseaRete21. Huesca
1) The nearctic aphid species Drepanaphis acerifoliae was detected for the first time in Spain infesting sugar maple trees used for landscaping.
2) Colonies of the species were found in 2006 in Lleida, Spain and in 2007 in two localities in Leon province, where abundant colonies were causing problems by excreting honeydew.
3) Metric and meristic data is provided to identify the viviparous alate females and sexual forms (oviparous females and males) of the species.
Visualising Climate Change - Data Visualisation Workshop IntroWill Stahl-Timmins
A brief introduction to data visualisation principles which was presented at the Visualising Climate Change event, May 2014, Bedruthan Steps Hotel, Cornwall, UK.
To a burst of applause, the General Assembly this morning adopted, without a vote, a text that sets the stage for negotiations on the long-pending issue of Security Council reform during the world body’s seventieth session, with some hailing it as a “landmark” decision, and others calling it technical rather than substantive progress on an issue that most agreed must urgently be resolved.
This document outlines the procedures and expectations for a 7th grade pre-algebra class. It introduces the teacher, Ms. Miller, and her love of teaching, coaching, and motorcycles. Classroom procedures are explained, such as arriving quietly with homework, raising hands to speak, bathroom breaks before class, and dismissal by the teacher. The grading policy and importance of pre-algebra are reviewed. The objectives of the class are to develop proportional relationships, operations with rational numbers, geometry concepts, and statistical analysis. Respect, honor and integrity are emphasized for having a great school year.
El documento describe los beneficios y obligaciones de un plan nacional de desarrollo turístico. El plan busca mejorar la competitividad de los destinos turísticos y productos, y generar beneficios y oportunidades para la población vulnerable a través del turismo. Las obligaciones incluyen informar a los ciudadanos sobre procesos de toma de decisiones relacionados con el turismo y diseñar estrategias para distribuir los beneficios del turismo entre la población local.
El documento provee información sobre la Enfermedad Pulmonar Obstructiva Crónica (EPOC). Define la EPOC, explica cómo afecta los pulmones, y detalla sus principales causas como el tabaquismo y la exposición a biomasa. Luego, describe los síntomas y signos clínicos de la EPOC, los exámenes de diagnóstico como la espirometría y la radiografía de tórax, y las diferentes etapas y gravedad de la enfermedad. Finalmente, cubre los tratamientos farmacol
Overview of education system in Bhutan with discussion of current education reforms and development of a new science curriculum. Presentation by Ann Childs and Ian Thompson in University of Oxford seminar series 'Children and Youth in a Changing World'.
Денис Кощавцев "Роль HR та керівника в "щастябудуванні""_rabota.uarabota.ua
9 вересня 2016 року відбулася конференція HR lab у затишному та атмосферному Львові на тему "Чи існує щастя на роботі?".
Досвідчені HR-практики та відомі тренери, що спеціалізуються на залученні, розвитку та управлінні талантами, розказали про власний успішний досвід "щастябудування".
#5 DataBeersBCN -"Location Based Business Oportunity Detector"DataBeersBCN
The document discusses a potential location-based business opportunity detector service called an LBBOD. The LBBOD would gather sensor, business, and fieldwork data around a user to detect opportunities near them and save them time spent searching. It would provide information on competitors and collaborators, the type of business environment, and the suitability of different locations for businesses. The LBBOD aims to answer questions about opportunities, risks, commercial activity in an area, and whether specific locations would work for a user's business.
Técnicas histopatologicas e inmunohistoquimicasFedeVillani
Técnicas frecuentes de diagnostico para patologias de la cavidad bucal. Concretamente se analizan el pénfigo, penfigoide y el liquen plano. Explicaciòn de la biopsia y de la inmunofluorescencia.
Overview of Real Estate (Regulation & Development) ActAdmin SBS
The document discusses the Real Estate (Regulation & Development) Act and its provisions regarding construction approvals, RERA implementation across states, and objectives of the Act. It provides details on the key authorities under RERA including the Real Estate Regulatory Authority and Appellate Tribunal. It summarizes the promoter's mandatory registration requirements, functions of RERA, monitoring of projects, functions and duties of promoters, and rights of allottees as established by RERA.
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The Real Estate (Regulation and Development) Act, 2016- An Analysis
1. The Real Estate (Regulation and
Development) Act, 2016
– An Analysis
INTRODUCTION
The Real Estate (Regulation and Development) Act, 2016 (Act 16 of 2016) came into effect on
1st May, 2016 after the Bill was modified based on the recommendations of the Select
Committee in the Rajya Sabha, and was passed by both houses of the Parliament.1
The Act as a whole aims to protect real estate buyers (who include home buyers) from the
developers who do not deliver the property to them on time. The object of the Central
Government of coming up with this Act is to bring about reforms in the Real Estate sector so as
to ensure efficient and transparent transactions between the buyers and the sellers. For fulfillment
of the said objectives, The Government seeks to establish the Real Estate Regulatory Authority
(RERA) to protect the interests of the consumers in the real estate sector,2 and also to establish
an Appellate Tribunal to hear appeals from decisions and orders passed by the Regulatory
Authority and the adjudicating authority.
This Act regulates all residential as well as commercial property related transactions, which in a
way will attract more investments due to increased transparency and accountability.3 This law
makes registration of all residential and commercial projects, with the Regulator, mandatory.
This applies to both new and ongoing projects. The Act also provides strict guidelines to be
followed failing which, in a few cases, imprisonment of upto three years (in case of promoters)
1 “Government Notifies Real Estate Rules”, Indo-Asian News Service, NDTV, November 01, 2016. <last accessed
on November 17, 2016>
2 “Real Estate Act comes into force on Sunday”, Navadha Pandey, The Hindu-Business Line, April 30, 2016. <last
accessed on November 17, 2016>
3 “Real Estate Regulatory Bill: 10 things you should know about it”, The Economic Times, March 10, 2016. <last
accessed on November 17, 2016>
2. and upto one year (in case of real estate agents and buyers), or a monetary penalty or both, has
been provided for.4
FEATURES OF THE ACT
1. The real estate projects must be registered with the Real Estate Regulatory Authority, before
the Promoter can make any advertisement or any kind of transaction with respect to the projects.5
If the project(s) are ongoing, then the promoter of the same shall make an application to get them
registered within a period of three months from the date this Act came into force.
Registration is not required in cases6:
i) Where the area of land is not more than 500 square metres or the number of apartments does
not exceed eight. (The appropriate Government may however make changes to the threshold
limit if it deems it necessary)
ii) Where the promoter has received the completion certificate
iii) Where the work done is for the purpose of repair or re-development
Registration ensures that there will be no fraud or misrepresentation involved.7
2. Creation of a separate escrow account by the Promoter, in which the Promoter shall deposit
seventy percent of the amounts realized for the project from the allottees, time to time.8 This
account is to be maintained in a scheduled bank (a bank included in the Second Schedule to the
Reserve Bank of India Act, 1934) to cover the cost of construction and the land cost. Withdrawal
from this account will be allowed in proportion to the percentage of completion of the project.
Withdrawals will be allowed after the percentage of completion of the project is certified by an
engineer, an architect and a chartered accountant in practice.9
Such a provision will discourage the misappropriation or diversion of funds.
4 Ibid.
5 The Real Estate (Regulation and Development) Act, 2016, S 3.
6 The Real Estate (Regulation and Development) Act, 2016, S 3(2).
7 Sudip Mullick and Amit Wadhwani, “Salient features of the Real Estate (Regulation and Development) Bill,
2016”, Khaitan & Co, Mondaq,March 21, 2016. <last accessed on November 17, 2016>
8 The Real Estate (Regulation and Development) Act, 2016, S 4(2)(l)(D).
9 “State notifies rules under RERA Act”, The Times of India, Ahmedabad, Oct 30, 2016. <last accessed on
November 17, 2016>
3. 3. Registration granted under Section 5 of the Act will be extended only due to ‘force
majeure’. However, the Authority, under reasonable circumstances without any default of the
Promoter, may extend the registration by a period not exceeding one year.10
4. A specific limit has been fixed on the payment of advance. The provision lays down the rule
that a promoter shall not accept as advance or application fees, a sum of more than 10% of the
total cost, without first entering into an agreement for sale and registering it under any law for
the time being in force.11
This provision will ensure that the buyers/allottees are not harassed for payment of huge
amounts. This will also ensure accountability, and lesser scope for embezzlement.
5. The Promoter is not allowed to make changes to the sanctioned plans. Alterations or
additions to the sanctioned plans will not be allowed without the prior consent of the allottee, or
in cases regarding apartments without the prior consent of at least two-thirds of the allottes
(excluding the promoter).12
This will ensure that the promoters stick to the project plan, and not act against the allottee’s
interest.
6. Provisions for payment of compensation.
i) Any structural defect or any defect in workmanship or any obligation of the promoter as per
the agreement for sale, if brought to the notice of the promoter within five years from the date of
handing over of possession, must be rectified by the promoter within 30 days, without any
further charge. In case of default by the promoter, the allottee will be entitled to appropriate
compensation.13
ii) In cases where the promoter fails to complete or is unable to give possession of the said
property, the promoter shall be liable on demand to the allottees. The allottee has two options.
Firstly, if the allottee wants to withdraw from the project while preserving the right to other
10 The Real Estate (Regulation and Development) Act, 2016, S 6.
11 The Real Estate (Regulation and Development) Act, 2016, S 13(1).
12 The Real Estate (Regulation and Development) Act, 2016, S 14(2).
13 The Real Estate (Regulation and Development) Act, 2016, S 14(3).
4. remedies available, the amount paid along with the interest prescribed, must be returned as
compensation in the prescribed manner. Secondly, if the allottee does not intend to withdraw,
compensation shall be paid by the promoter in the form of interest for every month of delay, at
the prescribed rate, till the handing over of the possession.14
iii) Compensation shall be paid by the promoter for any loss caused due to defect in title of the
land.15
iv) Compensation shall also be paid if the promoter fails to discharge any other obligations
imposed on him.16
Prior to this Act there was no provision which penalized the promoters or developers for their
activities.
7. There are a few bodies which need to be established for the proper implementation of this
Act. The main bodies which are required to be established are, the Real Estate Regulatory
Authority17, the Central Advisory Council18, the Real Estate Appellate Tribunal19 , and the
constitution of a fund called the ‘Real Estate Regulatory Fund’20.
Other important features which are required to be noted are that, there is a provision for appeal
to the High Court by any person who is aggrieved by the decision or order of the Appellate
Tribunal.21 The appeal must be made within 60 days from the date of communication of the
decision or order of the Appellate Tribunal.
There is also a provision which deals with offences by companies.22
There is a bar of jurisdiction on all other courts, which restricts the courts from taking
cognizance of any offence punishable under this Act, or the rules or regulations made under it.23
14 The Real Estate (Regulation and Development) Act, 2016, S 18(1).
15 The Real Estate (Regulation and Development) Act, 2016, S 18(2).
16 The Real Estate (Regulation and Development) Act, 2016, S 18(3).
17 The Real Estate (Regulation and Development) Act, 2016, S 20.
18 The Real Estate (Regulation and Development) Act, 2016, S 41.
19 The Real Estate (Regulation and Development) Act, 2016, S 42.
20 The Real Estate (Regulation and Development) Act, 2016, S 75.
21 The Real Estate (Regulation and Development) Act, 2016, S 58.
22 The Real Estate (Regulation and Development) Act, 2016, S 69.
23 The Real Estate (Regulation and Development) Act, 2016, S 80.
5. DRAWBACKS OF THE ACT
India was in desperate need of such a legislation, which would protect the interests of the people
involved in real estate transactions, which is commonly seen as one of the most disputed and
unreliable sectors in India. Though the Act is a welcome legislation, there exist certain lacunae
which will ultimately show as drawbacks of the Act.
The deadline for all states to establish the Real Estate Regulatory Authority and the Appellate
Tribunal has been fixed to be 30th April, 2017. This is a long duration, which will allow
discrepancies to come in, and will give enough time to the defaulters to look for an alternate way
to escape from the clutches of law.
The Act has provisions which deal with the selling of units by builders on the basis of carpet
area. This should not be applicable for buildings which are already sold or are under construction
(where a substantial part has already been constructed). This will result in a conflict with law in
case of such sale.
The Act provides for a deposit of 70% of the total amount in a separate escrow account. This will
lead to confusion due to numerous deposits and withdrawals, and manipulation becomes possible
in such cases.
There can also be instances where the cost of land, and the construction cost, might be higher
than the 70% amount deposited in the scheduled bank. This will result in undue strain on both
parties to the transaction.
The requirement of certification of the work completed before each withdrawal will not be very
useful, as the certifying people are not without bias. The engineer, the architect and the chartered
accountant will ultimately be paid by the promoter himself/herself.
India faces and has faced a lot of problems relating to the investment of black money in the real
estate sector. The Act does not deal with this problem which looms large. Though the Act does
6. not do much about the black money aspect, the recent decision of the Government 24 to
demonetize currency will certainly have a big impact on the real estate sector.25
CONCLUSION
The Act is a much needed piece of legislation, which will help the buyers of real estate in
particular by protecting their rights. The implementation of this Act however, might face a few
issues as has been enumerated above. The implementation of the Act is based on the Rules which
must be brought out by the specific states. Hence, it must be taken care that there is no political
barrier which affects the implementation of the Act in the different states. If we look at the
current scenario, the people and the advocates in court are already not satisfied with the Rules26
that the state of Uttar Pradesh has made. There are allegations that the Rules are the “watered
down” version of the Act, which aren’t very useful.27
However, the Central Act in all other aspects is well drafted and will definitely help in reducing
the backlog of cases in the other courts. It will also ensure speedy justice to the aggrieved parties,
while also enabling them to get compensated for all the loss caused to them.
24 Vinod Behl, “Demonitisation brings cheer for realty buyers”, The HANS INDIA, November 16, 2016. <last
accessed on November 17, 2016>
25 Vinod Behl, “Currency demonitisation to shake up real estate for sustainable growth”, The Economic Times,
November 14, 2016. <last accessed on November 17, 2016>
26 The UP Real Estate (Regulation and Development) Rules, 2016.
27 “Did homebuyers in UP get a ‘diluted’ real estate regulatory law?”, Hindustan Times, November 05, 2016. <last
accessed on November 17, 2016>