Rajasthan RERA to send notices to developers for non report submission
Real Estate

Rajasthan RERA to send notices to developers for non report submission

The Rajasthan Real Estate Regulatory Authority (RERA) will issue notices to nearly 300 developers in Rajasthan for not submitting quarterly progress reports.

According to the mandatory provision, for the project on apartments or flats, status updates of each building, the promoter has to upload updates on the RERA website at the end of each quarter.

A senior official at RERA said that the developers would get time to submit their replies in October after issuing the notices. If the reply of the developers is dissatisfactory, the registration will get canceled.

The move to upload reports online aids buyers to assess the properties, the development of the projects, evaluation of the company’s financial status and legal aspects.

A total of 1,800 projects have been registered under RERA across the state, after the enactment and implementation of the Real Estate regulation and development act, 2016.

The officer said the authority had made quarterly reports online to ensure transparency in the system, for consumer protection. After analysing quarterly reports of projects, the prospective buyer can take a comparative decision on buying a property.

Other details covering approvals information, bank account details, license issues, permits, revision in plans, or approvals for the projects also have to be presented in the public forum.

A penalty will be applicable if developers failed to adhere to the norms of uploading the quarterly report. The authorities have provided relaxation and decided not to take any action on the defaulters during Covid. Now, the regulatory body will issue notices once again, a RERA official said.

Image Source


Also read: Hyderabad civic body sends notices to property owners for misuse

The Rajasthan Real Estate Regulatory Authority (RERA) will issue notices to nearly 300 developers in Rajasthan for not submitting quarterly progress reports. According to the mandatory provision, for the project on apartments or flats, status updates of each building, the promoter has to upload updates on the RERA website at the end of each quarter. A senior official at RERA said that the developers would get time to submit their replies in October after issuing the notices. If the reply of the developers is dissatisfactory, the registration will get canceled. The move to upload reports online aids buyers to assess the properties, the development of the projects, evaluation of the company’s financial status and legal aspects. A total of 1,800 projects have been registered under RERA across the state, after the enactment and implementation of the Real Estate regulation and development act, 2016. The officer said the authority had made quarterly reports online to ensure transparency in the system, for consumer protection. After analysing quarterly reports of projects, the prospective buyer can take a comparative decision on buying a property. Other details covering approvals information, bank account details, license issues, permits, revision in plans, or approvals for the projects also have to be presented in the public forum. A penalty will be applicable if developers failed to adhere to the norms of uploading the quarterly report. The authorities have provided relaxation and decided not to take any action on the defaulters during Covid. Now, the regulatory body will issue notices once again, a RERA official said. Image Source Also read: Hyderabad civic body sends notices to property owners for misuse

Next Story
Real Estate

Mahindra Lifespaces Bags Rs 12.5 billion Redevelopment in Mulund

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project will be developed across a 3.08-acre land parcel, with an estimated development value of approximately Rs 12.5 billion. Strategically located, the site enjoys proximity to major connectivity points—just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also offers seamless access to the Eastern Expre..

Next Story
Infrastructure Urban

Snowman Adds Warehouses in Kolkata and Krishnapatnam

Snowman Logistics, India’s leading integrated temperature-controlled logistics company, has announced the commencement of operations at its two new state-of-the-art, owned cold storage facilities in Kolkata and Krishnapatnam. With these additions, the company’s total pallet capacity has reached 1,50,754, spanning 43 warehouses in 20 cities across the country. The newly operational Kolkata facility offers a storage capacity of 5,630 pallets, while the Krishnapatnam facility holds 3,927 pallets. These warehouses are equipped with advanced automation and infrastructure designed to enhanc..

Next Story
Resources

Noesis Enables IHCL Hotel Deal in Udupi–Manipal Corridor

NOESIS Capital Advisors, India’s leading hotel investment advisory firm, has successfully facilitated a landmark hospitality transaction in the Udupi–Manipal region of Karnataka. The deal involves the acquisition of a nearly completed, 130-key upscale hotel that will operate under one of the premium brands of IHCL, reinforcing NOESIS’ position as a preferred partner for strategic hospitality transactions across India. Strategically located on the Udupi–Manipal Highway, the 1.03-acre property will cater to business travellers, pilgrims and families visiting Manipal University. With..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?