UP RERA: 10% payment request follows sale agreement

Maharera Mandates Strict Parking Rules

Maharashtra Real Estate Regulatory Authority (Maharera) has implemented new regulations aimed at addressing parking-related disputes in residential and commercial developments. This initiative underscores Maharera's commitment to enhancing transparency and resolving common grievances within the real estate sector.

The new rules mandate that developers clearly specify the number of parking spaces allocated to each apartment or commercial unit in their projects. Builders are required to adhere strictly to these specifications, ensuring that homebuyers and commercial property owners receiv..

Maharera Proposes Self-Declaration for Project Quality

Maharashtra Real Estate Regulatory Authority (Maharera) is contemplating a new measure that would require builders to submit self-declarations regarding the quality of their projects. This proposed initiative aims to streamline regulatory processes and enhance transparency in the real estate sector.

Under the proposal, builders would be mandated to provide detailed self-assessments of their projects' adherence to quality standards and regulatory norms. This self-declaration is intended to supplement existing regulatory frameworks and facilitate smoother compliance procedures for develop..

UP RERA Allows Sale Deed in Ansal API Completed Projects

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has issued a directive allowing the execution of sale deeds to homebuyers in completed projects of Ansal API's Lucknow township. This decision comes as a relief to allottees, enabling them to complete property transactions without hindrance.

UP RERA's directive lifts any restrictions on executing sale deeds for homebuyers in Ansal API's completed projects, providing clarity and certainty to buyers and developers alike. This move aims to streamline property transactions and facilitate the transfer of ownership rights in accorda..

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..

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.