In a circular released earlier last week, the MahaRERA authority has announced its intention to train real estate agents. From 1 May 2023, the authority will only allow agents with a valid certificate of competence to register as licensed real estate agents on its portal. This decision comes in light of increasing number of grievances related to self-employed real estate agents, who without proper oversight and training are not being held accountable for their actions. Through mandatory training, the authority hopes to streamline the activities of real estate agents while increasing knowledge and awareness of the legal and regulatory frameworks and practices.Read more

The Haryana State Pollution Control Board (HSPCB) has ordered that all construction activity be immediately stopped in the Malibu Towne project in Sector 47, Gurugram due to a lack of environmental approvals. The 2,500 families who presently reside in the society will not be impacted by the closure notice. The order states that the developer will not be permitted to execute any sale deeds for a flat, plot, home, shop, or any other project component. The utility that distributes electricity has been asked not to add any additional connections to the project.Read more

Earlier this week, the National Company Law Tribunal (NCLT), cleared the bid put forth by Adani Good Homes to procure Radius Estates despite several creditors opposing the bid on account of foul play. The opposing creditors claim the company’s resolution professional (RP) colluded with the largest creditor to influence the bankruptcy process resulting in only one bid being received, that of Adani Good Homes. The NCLT has dismissed claims due to a lack of evidence. Adani Good Homes will complete construction of the company’s BKC project in Mumbai city without any additional cost to the homeowners.Read more

The City and Industrial Development Corporation (CIDCO) of Navi Mumbai has once again extended its deadline for online applications until 23rd January 2023 for its mass housing scheme launched in August 2022 due to overwhelming response. The computerised lottery draw for the scheme will now take place on 8th February 2023. The state-run planning authority is offering homes in Ulwe, Navi Mumbai under the Pradhan Mantri Awas Yojana (PMAY) scheme for individuals eligible for EWS housing. The current scheme offers almost 8,000 residential homes.Read more

The Chennai Metropolitan Development Authority (CDMA) has set up a seven-member team to prepare guidelines for the reclassification of land use in the city. The new guidelines will be presented in the next authority meeting. The decision to do so has come about due to several protests conducted by civilians and housing societies over reclassifying areas that have been marked as waterbodies in the second master plan. Over fifty files are likely to be placed for reclassification during the authority meeting.Read more

The government of Karnataka recently amended the Land Revenue Rules of 1966, effectively reducing the notice period of mutation of registered and unregistered documents. Mutation is the process by which the title of a property is changed in municipal records once the property has transferred to the new owner. However, despite the new reforms the process remains as sluggish as ever, making homeowners anxious as they feel they're under undue risk till the process is completed. The process of mutation is applicable to residential properties, and all types of land including those meant for agricultural or commercial purposes.Read more

A Delhi Court has summoned the managing director of Suptertech Limited, Mr Ram Kishor Arora over a case filled by Gaurav Vij claiming the former engaged in a criminal break of trust and forgery. Mr Vij alleges that he had given the company a sum of money, through its representatives, for a short-term investment in September 2012. However, in June 2013 he became aware that the company had used the money to book a flat in his name in one of their Gurgaon housing projects. He claims that despite voicing his concerns on paper, the MD and other directors did not do anything to help him and continued to mislead him.Read more

Earlier last week, the Kanpur Development Authority was finally given the go-ahead to demolish an illegal plotted developed spanning 12 acres in Pyondi village, behind Chakeri Airport. The offender Mr Umar Lar had been illegally developing the land by constructing boundary walls, building DPC and CC road, installing sewer lines and power poles. In doing so, he violated the requirements of the 1973 UP Urban Planning and Development Act as well as KDA regulations as the site plan does not allow for such modifications.Read more

The National Firm Law Tribunal (NCLT) Mumbai's bench granted the lender IDFC First Bank's request to put Pune based real estate company Marvel Realtors & Developers into administration after the real estate company defaulted on more than 44 crore rupees worth of debt. The developer took a 48-crore term loan from IDFC First Bank in July 2017 at an annual interest rate of 17.5%. The loan was to be paid off in 48 monthly instalments with the principle to be paid up in 10 instalments.Read more

The Uttar Pradesh Real Estate Regulatory Authority has issued a statement claiming that it has disposed of over 9,000 complaints in the year 2022 alone. The regulatory body received a total of 6,900 complaints in the year, with the highest inflow in March at 695 complaints and the lowest in December with 320 complaints. The three-member bench consisting of a secretary and chairman is said to have addressed and disposed of 25 cases a day on an average. Established in 2017, the UP RERA has received approximately 47,000 consumer complaints, which accounts for approximately 38 percent of the total complaints filled across the country.Read more