TNRERA's latest circular ramps up penalties for developers selling plots or flats in Vellore before registration, with base fines up to ₹15,000 per unit or 2% of project cost. Extra charges hit 50% for 10-50 illegal sales and 100% beyond that, aiming to shield buyers and enforce compliance in Vellore's real estate scene.
UPRERA mandates real estate developers to register projects under names on approved maps, sell only by carpet area, and include co-allottees in complaints.
Yashvi Homes Pvt Ltd has been fined Rs 25 lakh by RERA Gurugram for misleading advertisements regarding their Golden Gate Residency project under DDJAY.
Odisha RERA (ORERA) fined two real estate developers ₹20 lakh each for advertising without registration and not issuing a sale agreement, respectively.
UPRERA extends project registration validity by three months due to the national lockdown. Deadlines for project completion and other statutory compliance are also extended.
The housing ministry intends to introduce a real estate regulator to curb sector illegalities. The bill, aimed at safeguarding buyers, defines carpet area and mandates project registration.
New real estate bill aims to protect homebuyers by regulating developers, ensuring project legitimacy and transparency through mandatory registration and approvals.