+
DDA-RERA tussle ends as 18 projects get registered
Real Estate

DDA-RERA tussle ends as 18 projects get registered

RERA had asked the DDA to get the projects registered in 2021 to protect the interests of homebuyers The Real Estate Regulatory Authority (RERA) of Delhi has registered 18 projects of the Delhi Development Authority (DDA), ending the tussle between the two authorities over registration of projects.

In December 2021, RERA had issued an order asking the DDA to get the projects registered to protect the interests of homebuyers, but the DDA filed an appeal in the case. While the hearing was continuing, DDA filed an application in July with details of the projects and RERA gave registration certificates.

“There were 14 projects from 2019 for which we had asked for documents. This will bring transparency in the real estate market and other agencies such as Delhi State Industrial and Infrastructure Development Corporation Ltd will be encouraged to get registered with the authority,” said DDA chairman Anand Kumar.

The DDA had earlier argued that these projects were self-financed by the authority and that the apartments would be sold and handed over to the customers only after completion.

The Delhi RERA, in its earlier order, had said that if DDA projects are implemented in an efficient and transparent manner, customers would benefit. “The registration with RERA will ensure that these projects are developed according to agreed specifications without any quality compromise,” it had said.

The number of registered projects has increased after the authority made it essential for builders to register projects with a total developed area of more than 500 sq m, regardless of the number of flats constructed on it.

See also:
PAG contributes Rs 425 billion to Elan group in Gurugram
500 slabs are cast by CIDCO for PMAY project in 489 days

RERA had asked the DDA to get the projects registered in 2021 to protect the interests of homebuyers The Real Estate Regulatory Authority (RERA) of Delhi has registered 18 projects of the Delhi Development Authority (DDA), ending the tussle between the two authorities over registration of projects. In December 2021, RERA had issued an order asking the DDA to get the projects registered to protect the interests of homebuyers, but the DDA filed an appeal in the case. While the hearing was continuing, DDA filed an application in July with details of the projects and RERA gave registration certificates. “There were 14 projects from 2019 for which we had asked for documents. This will bring transparency in the real estate market and other agencies such as Delhi State Industrial and Infrastructure Development Corporation Ltd will be encouraged to get registered with the authority,” said DDA chairman Anand Kumar. The DDA had earlier argued that these projects were self-financed by the authority and that the apartments would be sold and handed over to the customers only after completion. The Delhi RERA, in its earlier order, had said that if DDA projects are implemented in an efficient and transparent manner, customers would benefit. “The registration with RERA will ensure that these projects are developed according to agreed specifications without any quality compromise,” it had said. The number of registered projects has increased after the authority made it essential for builders to register projects with a total developed area of more than 500 sq m, regardless of the number of flats constructed on it. See also: PAG contributes Rs 425 billion to Elan group in Gurugram500 slabs are cast by CIDCO for PMAY project in 489 days

Next Story
Infrastructure Urban

Budget Proposal Aims to Boost Investments

The recent budget proposal has introduced measures designed to promote investments and generate job opportunities across various industries, as reported by the Economic Times. This initiative seeks to stimulate economic activity and strengthen the country's growth trajectory by encouraging both domestic and foreign investments. Key aspects of the proposal include targeted incentives for sectors poised for expansion, such as renewable energy, infrastructure, and technology. The government aims to create a more favorable investment climate by offering tax benefits, subsidies, and streamlined reg..

Next Story
Infrastructure Urban

Indian Financial System Resilient Amidst Challenges

The Reserve Bank of India (RBI) Deputy Governor M. Rajeshwar Rao has emphasized the robust nature of the Indian financial system despite global economic headwinds, according to Economic Times. Rao?s comments reflect confidence in the stability and resilience of India's financial sector amidst a backdrop of international economic uncertainties and financial volatility. Rao highlighted that India?s financial system is well-equipped to handle external shocks due to its solid regulatory framework and prudent risk management practices. The country?s banking sector has demonstrated resilience throug..

Next Story
Infrastructure Energy

SC Allows State Tax on Mines, Minerals

Opposition leaders have welcomed the Supreme Court's recent decision permitting states to levy taxes on mines and mineral-bearing lands, as reported. The ruling is seen as a significant victory for state governments seeking greater control and revenue from natural resource extraction within their jurisdictions. The Supreme Court?s decision empowers states to impose taxes on mining operations and mineral-rich lands, which could enhance their revenue streams and enable better management of local resources. This move is particularly important for states with substantial mineral resources, as it a..

Talk to us?