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LATEST NEWS UPDATES | Developers in quandary as states not ready with Rera rules -Prabhakar Sinha </title>
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NEW DELHI: Real estate developers across the country are in a quandary as the Centre has stopped them from marketing ongoing projects yet to be registered with their respective state's real estate regulatory authority (Rera), and most..."/>
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NEW DELHI: Real estate developers across the country are in a quandary as the Centre has stopped them from marketing ongoing projects yet to be registered with their respective state's real estate regulatory authority (Rera), and most..." />
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<h1 class="cat-box-title">Developers in quandary as states not ready with Rera rules -Prabhakar Sinha</h1>
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Published on</span><span class="text-date"> Jun 25, 2017</span>
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<div align="justify">-The Times of India<br /><br /><em>NEW DELHI: </em>Real estate developers across the country are in a quandary as the Centre has stopped them from marketing ongoing projects yet to be registered with their respective state's real estate regulatory authority (Rera), and most state governments are neither ready with rules under the new Act, nor have they created the authorities.<br /><br />In a written clarification to the National Real Estate Development Council (NAREDCO), the Union housing and urban poverty alleviation ministry (HUPA) said, "Section 3(1) of Rera prohibits advertisement for all projects (ongoing/future) without registration with the real estate regulatory authority."<br /><br />Out of 35 states and Union territories, 24 are yet to set up regulatory authorities as mandated by the law, while 16 have not even notified the rules. According to Rera provisions, all projects need be registered online, but 32 states and UTs are yet to develop a website.<br /><br />Except a few states like Maharashtra, MP, Gujarat and Rajasthan, most are not even ready to register projects manually. UP had notified Rera rules in December 2016, but the new BJP-led dispensation, which assumed office in March 2017, has expressed its intention to change the rules before starting registration. So far nothing has happened.<br /><br />The chairman of the Confederation of Real Estate Developers' Associations of India (Credai), Getamber Anand, said stopping marketing activities at a time when the sector is passing through a lean patch would aggravate the condition. "This is certainly not ease of doing business," he said.<br /><br />Please <a href="http://timesofindia.indiatimes.com/india/developers-in-quandary-as-states-not-ready-with-rera-rules/articleshow/59304672.cms" title="http://timesofindia.indiatimes.com/india/developers-in-quandary-as-states-not-ready-with-rera-rules/articleshow/59304672.cms">click here</a> to read more. <br /></div>
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<br><a href="http://timesofindia.indiatimes.com/india/developers-in-quandary-as-states-not-ready-with-rera-rules/articleshow/59304672.cms" class="re" target="_blank">The Times of India, 25 June, 2017, http://timesofindia.indiatimes.com/india/developers-in-quandary-as-states-not-ready-with-rera-rules/articleshow/59304672.cms</a><div class="clear"></div>
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LATEST NEWS UPDATES | Developers in quandary as states not ready with Rera rules -Prabhakar Sinha </title>
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<h1 class="cat-box-title">Developers in quandary as states not ready with Rera rules -Prabhakar Sinha</h1>
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<div align="justify">-The Times of India<br /><br /><em>NEW DELHI: </em>Real estate developers across the country are in a quandary as the Centre has stopped them from marketing ongoing projects yet to be registered with their respective state's real estate regulatory authority (Rera), and most state governments are neither ready with rules under the new Act, nor have they created the authorities.<br /><br />In a written clarification to the National Real Estate Development Council (NAREDCO), the Union housing and urban poverty alleviation ministry (HUPA) said, "Section 3(1) of Rera prohibits advertisement for all projects (ongoing/future) without registration with the real estate regulatory authority."<br /><br />Out of 35 states and Union territories, 24 are yet to set up regulatory authorities as mandated by the law, while 16 have not even notified the rules. According to Rera provisions, all projects need be registered online, but 32 states and UTs are yet to develop a website.<br /><br />Except a few states like Maharashtra, MP, Gujarat and Rajasthan, most are not even ready to register projects manually. UP had notified Rera rules in December 2016, but the new BJP-led dispensation, which assumed office in March 2017, has expressed its intention to change the rules before starting registration. So far nothing has happened.<br /><br />The chairman of the Confederation of Real Estate Developers' Associations of India (Credai), Getamber Anand, said stopping marketing activities at a time when the sector is passing through a lean patch would aggravate the condition. "This is certainly not ease of doing business," he said.<br /><br />Please <a href="http://timesofindia.indiatimes.com/india/developers-in-quandary-as-states-not-ready-with-rera-rules/articleshow/59304672.cms" title="http://timesofindia.indiatimes.com/india/developers-in-quandary-as-states-not-ready-with-rera-rules/articleshow/59304672.cms">click here</a> to read more. <br /></div>
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LATEST NEWS UPDATES | Developers in quandary as states not ready with Rera rules -Prabhakar Sinha </title>
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<h1 class="cat-box-title">Developers in quandary as states not ready with Rera rules -Prabhakar Sinha</h1>
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<div align="justify">-The Times of India<br /><br /><em>NEW DELHI: </em>Real estate developers across the country are in a quandary as the Centre has stopped them from marketing ongoing projects yet to be registered with their respective state's real estate regulatory authority (Rera), and most state governments are neither ready with rules under the new Act, nor have they created the authorities.<br /><br />In a written clarification to the National Real Estate Development Council (NAREDCO), the Union housing and urban poverty alleviation ministry (HUPA) said, "Section 3(1) of Rera prohibits advertisement for all projects (ongoing/future) without registration with the real estate regulatory authority."<br /><br />Out of 35 states and Union territories, 24 are yet to set up regulatory authorities as mandated by the law, while 16 have not even notified the rules. According to Rera provisions, all projects need be registered online, but 32 states and UTs are yet to develop a website.<br /><br />Except a few states like Maharashtra, MP, Gujarat and Rajasthan, most are not even ready to register projects manually. UP had notified Rera rules in December 2016, but the new BJP-led dispensation, which assumed office in March 2017, has expressed its intention to change the rules before starting registration. So far nothing has happened.<br /><br />The chairman of the Confederation of Real Estate Developers' Associations of India (Credai), Getamber Anand, said stopping marketing activities at a time when the sector is passing through a lean patch would aggravate the condition. "This is certainly not ease of doing business," he said.<br /><br />Please <a href="http://timesofindia.indiatimes.com/india/developers-in-quandary-as-states-not-ready-with-rera-rules/articleshow/59304672.cms" title="http://timesofindia.indiatimes.com/india/developers-in-quandary-as-states-not-ready-with-rera-rules/articleshow/59304672.cms">click here</a> to read more. <br /></div>
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LATEST NEWS UPDATES | Developers in quandary as states not ready with Rera rules -Prabhakar Sinha
Developers in quandary as states not ready with Rera rules -Prabhakar Sinha
Published on Jun 25, 2017
Modified on Jun 25, 2017
-The Times of India
NEW DELHI: Real estate developers across the country are in a quandary as the Centre has stopped them from marketing ongoing projects yet to be registered with their respective state's real estate regulatory authority (Rera), and most state governments are neither ready with rules under the new Act, nor have they created the authorities.
In a written clarification to the National Real Estate Development Council (NAREDCO), the Union housing and urban poverty alleviation ministry (HUPA) said, "Section 3(1) of Rera prohibits advertisement for all projects (ongoing/future) without registration with the real estate regulatory authority."
Out of 35 states and Union territories, 24 are yet to set up regulatory authorities as mandated by the law, while 16 have not even notified the rules. According to Rera provisions, all projects need be registered online, but 32 states and UTs are yet to develop a website.
Except a few states like Maharashtra, MP, Gujarat and Rajasthan, most are not even ready to register projects manually. UP had notified Rera rules in December 2016, but the new BJP-led dispensation, which assumed office in March 2017, has expressed its intention to change the rules before starting registration. So far nothing has happened.
The chairman of the Confederation of Real Estate Developers' Associations of India (Credai), Getamber Anand, said stopping marketing activities at a time when the sector is passing through a lean patch would aggravate the condition. "This is certainly not ease of doing business," he said.
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