Out of 67k registered properties under RERA, 46% in Maharashtra
Real Estate

Out of 67k registered properties under RERA, 46% in Maharashtra

A total of 67,313 projects have been registered in India with 46% of them in Maharashtra alone since the enactment of real estate regulation law and Real Estate Regulatory Authority (RERA).

While Uttar Pradesh tops among states in various complaints discarded by the regulators, the western state also leads the list so far to register property agents.

According to the official data, till July 10, 31,221 projects were registered with the RERA in Maharashtra, followed by 8,685 in Gujarat. At 4,151, Karnataka has the third maximum number of projects registered with RERA. The Madhya Pradesh RERA has registered 3,659, and the UP RERA has registered 3,033 projects.

Maharashtra alone has registered 29,995 out of the total 51,895 registrations across states in the case of the registration of real estate agents or property dealers. 4,579 such agents have been recorded in UP, while barely 389 agents have been registered in Delhi.

Additionally, the data shows that the regulators have resolved 70,001 complaints, with two benches of UP RERA leading the list, having disposed of 27,825 complaints. Haryana, which set up two benches, has reported disposal of 14,591 complaints, followed by Maharashtra, where 10,043 complaints have been resolved.

Image Source


Also read: Mumbai notes 47% decline in residential property registrations in May

Also read: Property registrations in Indore recorded a 60% jump in June

A total of 67,313 projects have been registered in India with 46% of them in Maharashtra alone since the enactment of real estate regulation law and Real Estate Regulatory Authority (RERA). While Uttar Pradesh tops among states in various complaints discarded by the regulators, the western state also leads the list so far to register property agents. According to the official data, till July 10, 31,221 projects were registered with the RERA in Maharashtra, followed by 8,685 in Gujarat. At 4,151, Karnataka has the third maximum number of projects registered with RERA. The Madhya Pradesh RERA has registered 3,659, and the UP RERA has registered 3,033 projects. Maharashtra alone has registered 29,995 out of the total 51,895 registrations across states in the case of the registration of real estate agents or property dealers. 4,579 such agents have been recorded in UP, while barely 389 agents have been registered in Delhi. Additionally, the data shows that the regulators have resolved 70,001 complaints, with two benches of UP RERA leading the list, having disposed of 27,825 complaints. Haryana, which set up two benches, has reported disposal of 14,591 complaints, followed by Maharashtra, where 10,043 complaints have been resolved. Image Source Also read: Mumbai notes 47% decline in residential property registrations in May Also read: Property registrations in Indore recorded a 60% jump in June

Next Story
Real Estate

UP RERA orders to complete Vasundhara Grand project by May 2023

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has authorised the promoter of the Vasundhara Grand housing project to complete the stalled housing project by May 2023.

The promoter and the association of allottees had approached the UP RERA to intervene in the completion of the remaining project under its supervision so that the allottees could get possession of their flats.

This project was rolled out in 2015 in Ghaziabad but was unable to be completed by promoter Nandini Buildhome Consortium Private Limited by 16 December 2020. Currently, the project is only 8..

Next Story
Real Estate

Gurugram’s CAC to discuss structural safety of high-rise buildings

The Central Advisory Council (CAC) in Gurugram, under the Real Estate Regulatory Act (RERA) Act 2016 will be meeting on 12 April to discuss the steps to ensure structural safety in high-rise buildings and prevent loss of life and property, apart from considering a proposal to set up a high-level panel to address the issue of stalled projects.

The council, chaired by the Minister of Housing and Urban Affairs Hardeep Singh Puri, will consider measures like physical inspection of projects during construction and structural audit.

President of Forum for People’s Collective Effo..

Next Story
Real Estate

Maha govt extends stamp duty waiver period for resale properties

The Maha Vikas Aghadi (MVA) government has extended the period for stamp duty waivers for investors who would sell their properties in a year of buying to achieve the benefit of the stamp duty waiver.

Recently, the state legislative assembly passed the bill for the same. Now, the investors can earn a stamp duty waiver even on a resale property within three years of purchasing. For such deals, stamp duty is payable only on the price difference of the property besides the whole amount.

According to the Real Estate Regulatory Authority (RERA) Act, it takes three years to complet..

Next Story
Real Estate

Brookfield India REIT to Acquire Bharti's Stake in Realty JV

Brookfield India Real Estate Trust (BIRET) is set to acquire nearly 50% stake in a real estate joint venture with Bharti Enterprises. This joint venture, Rostrum Realty Private Limited, includes properties across Delhi-NCR. The transaction is valued at approximately ?6,000 crores. Last year, Brookfield Asset Management already acquired a similar stake in four Bharti commercial properties.

With this acquisition, Brookfield?s REIT in India and Brookfield Asset Management will collectively control Rostrum Realty. This move is part of Brookfield's strategy to expand its real estate portfoli..

Next Story
Real Estate

DLF Ventures into Mumbai, Goa with Luxury Homes This Year

DLF, India's leading real estate developer, is set to enter the luxury housing markets of Mumbai and Goa by the end of this financial year. The company plans to introduce high-end residential projects, marking its first significant ventures in these regions.

In Mumbai, DLF will launch a premium condominium project in Andheri, featuring luxury apartments priced between ?6 crore and ?8 crore. This development signifies DLF's re-entry into Mumbai's real estate market after a long hiatus. The project aims to cater to the burgeoning demand for luxury homes in India's financial capital.

..

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 81086 03000

Join us Telegram