Soumya Bajpai

The government of India has enacted the RERA Act of 2016. The sections of the Act were enforced with effect from 1st May 2017. The government notified the Bihar Real Estate (Regulation & Development) Rules 2017 (Including Agreement for Sale Rules) of Bihar on 28th April 2017. The Real Estate Regulatory Authority (RERA Bihar) will […]

The motive behind an introduction of the RERA Act, 2016, was to ensure greater transparency, speedy dispute redressal, and ensure capital into the real estate sector. Therefore, RERA Authority playing a role in this matter, is given some responsibilities to fulfill the ultimate objective. Every State Government must, within one year from the date of […]

The FLA Return is described as Foreign Liabilities And Assets Return, which is required to be submitted by all the Indian Companies which have been received Foreign Direct Investment (FDI) or made Overseas Investment abroad in the previous years, including the current year, i.e., who holds foreign Assets or Liabilities in their Balance Sheets. What […]

The Ministry of Housing & Urban Poverty Alleviation notified RERA rules for the RERA Himachal Pradesh on 28 Sept 2017 to protect buyer’s interest, enhance professionalism, and ensure transparency in the real estate sector. The promoters and agents need to follow the HPRERA provisions and get them registered. The buyers have the option to file […]

At end-March 2017, there were 11,522 NBFCs registered with the Reserve Bank, of which 178 were NBFCs-D, and 220 were NBFCs-ND-SI. The number of NBFCs has been declining over time with cancellations of registrations exceeding new registrations on account of voluntary surrender NBFC Registration due to non-compliance with the revised criteria of the net-owned fund. […]

The Goa Real Estate (Regulation & Development) Rules, 2017, was notified by the Goan state government on 24 Nov 2017. In order to facilitate online registration of the real estate agents, real estate projects, and complaints, an online platform was launched in Jan 2018. As per the Goa RERA Act[1], all real estate agents and […]

The Real Estate (Regulation & Development) Act, 2016, came into effect from May 1, 2017. There began a norm for strict compliance under RERA that had to be adhered to by each developer, builder, and construction giant in different parts of the country. Most of the states have established their RERA offices where they work […]

The Central Government, by way of a notification, now makes the consumer protection rules, in the exercise of the powers conferred under section 101, sub-clause (zg) of sub-section (1) of the Consumer Protection Act, 2019. These rules must not apply to any activity of a natural person carried out in a personal capacity, not being […]

An NBFC must seek Certificate of NBFC Registration as per with the rules and regulations mentioned under Section 45-1A, RBI Act, 1934. In addition, it must be duly registered under the Companies Act, 2013. The RBI can grant or cancel the Certificate of Registration for an NBFC. However, it is an option to appeal against […]

The transfer of title means the act of transferring ownership of the property from one person to another. The promoters and the allottees must be aware of the RERA laws regarding the transfer of title. While purchasing a property from a developer, it usually requires a check the terms mentioned in the agreement to verify […]

The Act makes both Promoters and the landlord or any other parties who are beneficiary for the sale of a project to receive payments from allottees as Co-Promoters. Hence, they are liable to adhere to the provisions of the Act and Rules and Regulations made thereunder. In order to fulfill compliance of Section 34 (b) […]

The project life cycle constitutes various phases. It begins with approvals for commencement of a project and RERA registration with the regulating Authority. Therefore, this becomes essential to understand and resolve conflicts. To avoid controversies that might arise requires a phase-wise RERA registration. Phase-wise RERA Registration Section 3 of the RERA Act says about the […]

Every State Government shall, within one year from the date of coming in force of this Act, establish an Appellate Tribunal to be known as the (Name of State and UTs)- Real Estate Appellate Tribunal to exercise the powers conferred & perform the function assign to it by this Act. The State Government may also […]

Central Board of Direct Taxation in the exercise of the powers conferred under section 10 clause (46)  of the Income-tax Act, 1961 (43 of 1961), the Government has been notified for the purposes of the tax exemption in state RERA Real Estate Regulatory Authority as specified in the schedule to this notification. The Government empowered […]