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In a first, realtor moves UP-RERA against home buyers

Friday, October 4, 2019, 5:50 PM

A real estate developer has moved the UP-Rera against buyers for not taking delivery of their homes, making it the first complaint of its kind. The complaint came from Supertech against 45 buyers in its Cape Town, Eco Village I and Eco Village III projects. The company alleged they were neither taking delivery of their flats nor paying up the pending dues.
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Govt forms committee for 'effective' implementation of real estate law RERA

Tuesday, January 1, 2019, 9:54 AM

The government has constituted a committee to suggest recommendations to strengthen the real estate-law RERA and to remove difficulties in its implementation, an official said. The decision to form the committee, to be headed by Union Housing and Urban Affairs Joint Secretary Shiv Das Meena, comes months after the ministry organised four-workshops where stakeholders, including home-buyers, had given suggestions for effective implementation of RERA.
 
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Builders wary of title insurance fearing cost escalation

Sunday, August 26, 2018, 2:43 PM

Even as the Real Estate (Regulation and Development) Act makes it mandatory for developers to take title insurance, builders are hesitant to adopt it, saying it may further add to financial burden. A title insurance is a form of indemnity insurance that protects investment in real estate and provides coverage against financial loss arising from title defects and other irregularities pertaining to property acquisition.

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