In a significant move, Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has implemented new guidelines regarding document submission timelines. Parties involved in hearings must now upload documents, objections, or counter-objections at least 48 hours before the scheduled hearing. This decision, endorsed by UP-RERA Chairman Sanjay Bhoosreddy, aims to streamline proceedings and ensure adequate time for RERA benches to review case files. Late submissions have previously hindered the process, leading to adjournments and delays in justice delivery. By enforcing stricter deadlines, UP-RERA seeks to expedite case resolutions and uphold the principles of fairness and efficiency in the regulatory process.Read more

The National Company Law Appellate Tribunal (NCLAT) has set a deadline, warning that if the disputes between the Yamuna Expressway Industrial Development Authority (YEIDA) and Suraksha Group over Jaypee Infratech are not settled by the second week of April, the tribunal will proceed with the case. Suraksha Group's resolution plan for Jaypee Infratech was approved by the National Company Law Tribunal (NCLT) last year, but progress has been hindered by challenges from YEIDA and Jaiprakash Associates. The NCLAT has directed the Monitoring Committee overseeing the insolvency process to file a status report within two weeks, indicating potential relief for over 20,000 homebuyers invested in Jaypee Infratech projects.Read more

The Bombay High Court has broadened the definition of 'promoter' under the Real Estate (Regulatory and Development) Act (RERA), now including co-promoters. This groundbreaking ruling holds co-promoters jointly liable for refunds, alongside primary promoters, in cases of project delays, even if they haven't directly received funds from flat buyers. The verdict, delivered on February 26, has stirred the real estate industry, particularly impacting redevelopment projects in Mumbai. Stemming from an appeal filed by Wadhwa Group Housing Pvt Ltd, the decision clarifies the obligations of co-developers and investors, marking a significant legal precedent in RERA enforcement.Read more

The Yamuna Expressway Industrial Development Authority (YEIDA) has issued an occupation certificate to Oasis Grandstand in Noida's Sector 22D, easing registry anxieties for 1,235 homebuyers. This milestone resolves long-standing issues in the real estate sector. Furthermore, YEIDA's approval for approximately 600 plots in SDS Infracon's Sector 26A township signals progress in resolving financial disputes, enabling plot owners to initiate construction. CEO Arun Vir Singh highlighted these decisions' significance, emphasizing the forthcoming board meeting's potential to extend Covid 'zero period' benefits, potentially exempting homebuyers from interest or penalty charges. This move aims to alleviate financial burdens and expedite registry processes, ensuring relief for homeowners across various residential projects.Read more

Maharashtra Industrial Development Corporation (MIDC) has ordered Indiabulls Real Estate and Indiabulls Industrial Infrastructure (IIIL) to vacate 512 hectares of land in the Special Economic Zone (SEZ) at Sinnar, Nashik district. IIIL, which leased the land in 2007, claims the eviction order is unlawful and said that it has already paid INR 67.7 crores in premium. The company has developed infrastructure and rehabilitated Project Affected Persons (PAPs). MIDC alleges that the company failed to complete development and rehabilitate PAPs within the stipulated timelines. The resolution of this conflict is crucial for the economic growth of Sinnar, a key manufacturing and industrial hub.Read more

The Kolkata Municipal Corporation (KMC) has mandated online applications for building design clearance, except for renovations or insecure building reconstructions. Mayor Firhad Hakim emphasized the efficiency and transparency of the online system, which now reduces approval time from 45 days to a mere fortnight. With approximately 250 plans processed monthly, the KMC anticipates a surge in applications, particularly in key construction areas. To manage this, executive engineers have been alerted, and network infrastructure enhancements and specialized software have been implemented. Workshops will educate professionals on the new system. This digital shift underscores KMC's commitment to modernizing civic services and enhancing citizen convenience.Read more

The Gujarat Assembly unanimously passed an amendment bill, empowering the state government to regulate transfer fees collected by cooperative housing societies during property transactions. Minister of State for Cooperation Jagdish Vishwakarma emphasized the necessity of this change due to the lack of clarity in the current Act, leading to arbitrary fee collections. The amendment aims to prevent excessive fees and ensure transparency, particularly as approximately 1,500 new housing societies register annually. Additionally, the bill proposes reducing the minimum membership requirement for cooperative housing society registration from 10 to 8, aligning with RERA regulations. Separately, the Assembly approved a bill elevating DAIICT into Dhirubhai Ambani University, expanding its academic scope.Read more

In a significant move, the Department of Town and Country Planning (DTCP) has initiated the issuance of NOC for illegal colonies. The DTCP had issued a notification on October 4, 2023, to regularise 21 colonies spanning approximately 186 acres of prime land across various villages including Gurgaon, Manesar, Sohna, Pataudi, and Farrukhnagar. The regularisation aims to bring these previously unauthorised colonies under legal purview, offering residents formal recognition and access to essential services. This initiative signifies a step towards better urban planning and governance in Haryana, addressing long-standing concerns regarding informal settlements and land regularisation.Read more

In a recent office directive, promoters have been instructed to submit project-related documents, including registration, extensions, and modifications, to the UP-RERA Head Office in Lucknow. This order outlines that the delivery can be made either in person or via postal service. The move aims to centralize project documentation processes and ensure compliance with regulatory standards. To expedite matters, documents for complainants in NCR regions will be handled at the Regional Office in Greater Noida. Sanjay Bhoosreddy, chairman of UP-RERA, emphasizes the importance of timely document delivery for efficient resolution of matters.Read more

The Bombay High Court declined to halt the creation of additional tenements for project-affected persons (PAP) in Mumbai, amidst a PIL seeking to cancel BMC's scheme procuring housing from the open market. Justices Gautam Patel and Kamal Khata emphasised the wider public interest in providing housing for PAPs affected by infrastructure projects. The court heard three PILs alleging a scheme benefiting certain developers. BMC began purchasing housing units at market rates from developers in 2021, prompting scrutiny over the PAP policy's validity.Read more