educratsweb logo


Effective Implementation of RERA can Restore Trust Between Buyer and Seller: Hardeep S Puri

Primary Aim is to Address Concerns of Homebuyers to Ensure Completion of Projects: Durga Shanker Mishra More Than 52,000 Real Estate Projects &40,517 Real Estate Agents Registered Under RERA RERA Day Organized
 

Shri Hardeep S Puri, Minister of Housing and Urban Affairshas said that one of the principal objectives of RERA is to help restore the trust between a buyer and the seller and this trust can only be restored by the true and effective implementation of RERA.This would not only help ease the burden of inventory pile-up in the sector, but also provide the necessary financial cushion to the developers to complete pending projects,he said. He was speaking at a webinar on the “3rd anniversary of RERA” with the stakeholders of Real Estate sector here today. ShriDurgaShanker Mishra, Secretary, MoHUA, Shri Shiv Das Meena, Additional Secretary, Shri Rajive Kumar, Chairperson, Uttar Pradesh Real Estate Regulatory Authority, Shri Anthony de Sa, Chairperson, Madhya Pradesh Real Estate Regulatory Authority, Shri Gautam Chatterjee, Chairperson, Maharashtra RERA, Justice B. Rajendran, Chairperson, Tamil Nadu Real Estate Appellate Tribunal and representatives of ASSOCHAM, CREDAI, NAREDCO, FICCI, Home Buyers Association, National Housing Bank, and HDFC participated in the webinar.

 

Providing a background in which the real estate sector operated, the Minister pointed out that in pre-RERA era, Indian Real Estate sector was largely unregulated till 2016, which led to many anomalies resulting in various unfair practices, which ultimately affected the homebuyers adversely. Therefore, a need was being felt for long time to regulate the sector in such a way so as to ensure transparency and accountability. “With the enactment of Real Estate (Regulation and Development) Act, 2016 (RERA), the country got its first real estate regulator. RERA marked the beginning of a new era in the Indian real estate sector and a step towards reforming the sector, encouraging greater transparency, citizen centricity, accountability and financial discipline. The core objective of this transformative legislation is to ensure regulation and promotion of real estate sector in an efficient and transparent manner and to protect the interest of the home buyers”, he said.

 

Providing details of the successful implementation of RERA, the Minister informed that 31 States/UTs have notified rules under RERA. While 30 States/UTs have set up Real Estate Regulatory Authority and 24 States/UTs have set up Real Estate Appellate Tribunal. “More than 52,000 Real Estate Projects and 40,517 Real Estate Agents have registered under RERA across the country. More than 46,000 complaints have been disposed-off by the Real Estate Regulatory Authorities across the country”, he further added.

 

Speaking on the challenges due to the present COVID-19 pandemic and its impact on the real estate sector, the minister observed that Covid-19 has had a debilitating effect on the real estate sector, which has become a cause for project delays. During the initial period of the lockdown, construction activities had been barred. After reviewing the situation, the Government has put in place certain measures to allow for construction activities effective from 20 April, 2020, he added. The Minister also provided details of various other proactive reformative policy decisions to boost real estate like regulatory, programmatic, fiscal and financial initiatives such as Enactment of Insolvency and Bankruptcy Code, 2016 (IBC), wherein the Home buyers are classified as ‘financial creditors’. The recent decisions taken by Finance Ministry for Industry include extension of dates in filing return of Direct and Indirect Tax, relaxation in paying EMIs by homebuyers and waiver of some fee/charges, raising the threshold of loan default amounts from ₹ 1 Lakh to ₹ 1 Crore which will prevent triggering of insolvency proceedings for lower amount.

 

As regards, construction activities, the minister informed that these have been allowed in some parts of the country and in rest of the country, construction activities will resume in a phased and calibrated manner. He also appealed to all stakeholders to follow the guidelines issued by Government regarding precautions to be taken such as- covering face with mask or cloth, maintaining physical distance of 2 yards, downloading ArogyaSetu Application by every individual, monitoring, hygiene etc. to be strictly adhered to help in controlling the spread of this pandemic.In the era of RERA, it is our collective duty to ensure that instances such as Amrapali, Jaypee and Unitech, do not ever happen again; home buyers / consumers in the sector receive their due; and the sector thrives to its true potential. He expressed satisfaction that RERA has performed really well in the 3 years since its commencement and the credit for its success goes to the hard work put in by all stakeholders.

 

Addressing the participants, Sh. Puri informed that the recommendations of the CAC (Central Advisory Council) which in effect is the voice of all stakeholders was referred to the highest levels in the Government. The Prime Minister, Shri Narendra Modi, while addressing the Nation on 12thMay 2020, announced an economic package worth Rs. 20 lakh crore, which is around 10 percent of the country’s GDP making it one of the largest economic packages announced anywhere in the world. While announcing the ‘Atmanirbhar Bharat Abhiyan’ he laid emphasis on self-reliance based on 5 pillars – ‘economy’; ‘infrastructure’; ‘technology driven system’; ‘vibrant demography’; and ‘demand’. He also said that the package of reforms is particularly aimed to address four important aspects – ‘land’; ‘labour’; ‘liquidity’; and ‘laws’, and that this economic package caters to various sections, including farmers, labourers, middle class, MSMEs, cottage industry, industry etc. As part and parcel of the Prime Minister’s mega announcement, the Finance Minister in her announcements on 13thMay 2020, delineating on the package, has included the demand made by the real estate sector for extension of the completion date or revised /extended completion date.

 

He also referred to the other announcements made by FM to enable affordable rental housing for migrant labourers and urban poor such as the Affordable Rental Housing Complex (ARHC) scheme, where Government funded houses in cities will be converted into Affordable Rental Housing Complex under PPP model. He added that this single step will to a great extent alleviate the problem of providing temporary housing to migrant people who are stranded in several urban areas. He informed that the Credit Link Subsidy Scheme (CLSS) under Pradhan MantriAwasYojana - Urban (PMAY-U) for middle income group has been extended to 31st March 2021 which is likely to benefit 2.5 lakh middle-class people. He added that these measures are aimed at giving a fillip to the housing sector, as a part of the Atmanirbhar Bharat Abhiyan, announced by the Prime Minister.

 

Concluding the session, ShDurgaShanker Mishra, Secretary, MoHUA stated that the Government is committed to uphold and protect the interest of homebuyers while ensuring ease of doing business in the real estate sector. He added that MoHUA has already issued an advisory to all States / UTs and their respective Real Estate Regulatory Authorities to consider the current pandemic of COVID-19 as “force majeure” being a natural calamity, which is adversely affecting the regular development of the real estate projects and extend registration of all real estate projects registered under RERA by 6 months and further upto 3 months, as per situation evolving in view of the COVID-19 pandemic.This measure will safeguard the interest of homebuyers to get them the delivery of their flats/homes although with the delay of few months but it will definitely ensure the completion of the projects.

Effective Implementation of RERA can Restore Trust Between Buyer and Seller: Hardeep S Puri
educratsweb.com

Posted by: educratsweb.com

I am owner of this website and bharatpages.in . I Love blogging and Enjoy to listening old song. ....
Enjoy this Author Blog/Website visit http://twitter.com/bharatpages

if you have any information regarding Job, Study Material or any other information related to career. you can Post your article on our website. Click here to Register & Share your contents.
For Advertisment or any query email us at educratsweb@gmail.com

RELATED POST
1. CSIR-IHBT makes history by introducing asafoetida (Heeng) cultivation in Indian Himalayan region
Due to efforts of CSIR constituent laboratory, Institute of Himalayan Bioresource Technology (IHBT), Palampur, a historical shift in farming practices is in the offing with farmers of the remote Lahaul valley in Himachal Pradesh taking up cultivation of asafoetida (Heeng) to utilize vast expanses of waste land in the cold desert conditions of the region. CSIR-IHBT brought in seeds of asafoetida and developed its agro-technology.
2. Grand ICT Challenge under Jal JeevanMission receives impressive response; Aims to harness vibrant Internet of Things eco-systems for creating smart rural water supply system
National Jal Jeevan Mission in partnership with Ministry of Electronics & Information Technology (MeitY) had launched anICT Grand Challenge to create innovative, modular, and cost-effective solution to develop a ‘Smart Water Supply Measurement and Monitoring System’ to be deployed at the village level. The last date was  12 October 2020. A total of 213 proposal fr
3. Indian Navy – Sri Lanka Navy Maritime Exercise SLINEX-20 off Trincomalee
The Eighth Edition of annual Indian Navy (IN) – Sri Lanka Navy (SLN) bilateral maritime exercise SLINEX-20 is scheduled off Trincomalee, Sri Lanka from 19 to 21 October 2020. The Sri Lanka Navy will be represented by SLN Ships Sayura (Offshore Patrol Vessel) and Gajabahu(Training Ship) led by Rear Admiral Bandara Jayathilaka, the Flag Officer Commanding Naval Fleet, Sri Lanka Navy. Indigenously built ASW corvettes
4. Liposuction in Hyderabad, India | Dr YV Rao Clinic
Dear excessive fat, Nobody likes you! Why do you make way into my body without my consent? Yours truly. Excessive fat around the waist and chubbiness in the thighs and back is not physically appealing. People may call you but some might even take offense. While body shaming is not okay, but maintaining healthy weight is important. Some people do not gain weight after eating a lot of junk and others put on weight just by breathing air! It is the true story
5. CSIR-CMERI develops Sustainable Municipal Solid Waste Processing Facility
The changing ecological scenarios requires special attention to address the issue of ‘Sustainable Processing of Municipal Solid Waste’. This is not only a necessary component of converting waste into useful end products but also to maintain a cleaner environment and to safeguard contamination of soil, air and water. To throw more light on the subject, Prof. (Dr.) Harish Hirani, Director, CSIR-CMERI, Durgapur, deliberated on the issue in his Keynote
6. Maintaining supply of essential commodities during lockdown
As part of economic response to Covid-19 pandemic lockdown, the Government distributed foodgrains at the rate of 5 kg per person per month, and pulses at the rate of 1 kg per household per month, free of cost, to all beneficiaries of the National Food Security Act (NFSA), 2013 under Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) for the period of eight months from April to November 2020. The Department of Consumer Affairs was entrusted with distribution of pulses. In phase - I of PMGKAY, out of the tot
7. Indian Railway rolls out User Depot Module (UDM)
User Depot Module (UDM) developed by CRIS (Centre for Railway Information Systems) was rolled out digitally across all User Depots of Western Railway by Sri P. C. Sharma, Member(T&RS) on 28.09.2020. This system will be implemented shortly across all Zones of Indian Railways. Railway’s supply chain up to Stores Depots has already been digitized, however activities at user end are being done manually. Implementation of this system will bring in transformational changes from manual worki
8. To consolidate and synergize the plastic processing industry Government is setting up Plastic Parks with state-of-the-art infrastructure: Gowda
Union Minister for Chemicals & Fertilizers Shri D. V. Sadananda  Gowda has said that to consolidate and synergize the capacities of the domestic downstream plastic processing industry, Government has come up with a scheme of Setting up of Plastic Parks with an  state-of-the-art infrastructure through cluster development approach.  In a written reply in Rajya Sabha today the  Union Minister informed that Under the scheme, Central Government provides grant funding up to 50%
9. Fastrack Investigation of Child Sex Abuse Cases
The number of cases of child sexual abuse reported from 2009 to 2018, is available at https://ncrb.gov.in/en/crime-india. The Government of India implements the ‘Protection of Children from Sexual Offences (POCSO) Act, 2012’, which provides for mandatory reporting, child friendly recording of statement and evidence and speedy trial of the cases. It is stipulated in Section 44 (1) of POCSO Act, 2012 that National Commis
10. Government receives large number of suggestions on proposed mining reforms
There is no proposal to make illegal mining as legal. The Mines ministry has clarified this today. Ministry of Mines had circulated the proposed reforms in the Mines and Minerals (Development and Regulation) (MMDR) Act, 1957 with different Central Government Ministries /Departments and also to the State Government for comments / suggestions.          Further, in order to give wide publicity to the proposed reforms, as per Pre-Legislative Consultation Poli
11. Faceless Appeals launched by CBDT today- Honoring The Honest
The Income Tax Department today launched Faceless Income Tax Appeals. Under Faceless Appeals, all Income Tax appeals will be finalised in a faceless manner under the faceless ecosystem with the exception of appeals relating to serious frauds, major tax evasion, sensitive & search matters, International tax and Black Money Act. Necessary Gazette notification has also been issued today. It may be noted that Hon’ble PM on 13th August, 2020 while launching the Faceless Assessment and Taxp
12. Income Tax Department conducts search in Jharkhand and West Bengal.
The Income Tax Department has carried out search and survey operations on 25th September, 2020 at around 20 residential and business premises of a prominent group having operations in Jharkhand and West Bengal. The group is engaged in trading of various commodities, production of vanasapati ghee, real estate and tea estates. The group is having real estate projects in Kolkata.                 During the search substantia
13. ECGC Limited
ECGC Limited was set up in 1957 in Mumbai under the Companies Act 1956 to provide export credit insurance services to exporters and banks to promote and support exports from India. The performance details of ECGC for the last three financial years and current year are given below: (Amount in ₹ Crore) Financial Year 2017
14. Long-Term, Time-Bound, National Level Strategy to Tackle Air Pollution-National Clean Air Programme (NCAP)
The Central Government launched National Clean Air Programme (NCAP) as a long-term, time-bound, national level strategy to tackle the air pollution problem across the country in a comprehensive manner with targets to achieve 20% to 30% reduction in Particulate Matter concentrations by 2024 keeping 2017 as the base year for the comparison of concentration. Under NCAP, 122 non-attainment cities have been identified across the country based on the Air Quality data from 2014-2018.  A list of Smart Citie
15. Startup Ecosystem for Rural and Tribal Entrepreneurs
Government of India, through Ministry of Skill Development and Entrepreneurship, has taken initiatives for implementing entrepreneurship development schemes and programmes for the youth and women of the Country through entrepreneurship education, handholding & mentorship and essential linkages with financial and market institutions. Ministry of Skill Development and Entrepreneurship (MSDE) is implementing a project on entrepreneurship promotion and mentoring of micro and small enterprises i
16. Shri Gangwar launched virtual hearing facility in quasi-judicial cases under EPF & MP Act, 1952 through Video conferencing
The 227th Meeting of the Central Board of Trustees (CBT), EPF was held today under the Chairmanship of Shri Santosh Kumar Gangwar, Minister of State for Labour & Employment (I/C), and Vice Chairmanship of Shri Heeralal Samariya, Secretary (L&E), Central Provident Fund Commissioner, Sh. Sunil Barthwal, conducted the meeting as Member Secretary, CBT, EPF through Video Conference mode.   Following were the highlights of the Central Board Meeting:-  
17. Steps to Revive Aviation Industry amid Covid-19 Pandemic
All efforts have been made to reduce the impact of the pandemic on the aviation sector. Some of the measures taken to support the aviation sector include inter-alia:        1.    Due to COVID-19 pandemic, domestic air services have been restarted in a calibrated manner. Initially only one third (33%) of the summer schedule 2020 was allowed to be operated which was subsequently increased to 45% on 26 Jun 2020 and then to 60% on 02 Sep 2020.
18. Make In India
Recently, Government has taken various steps in addition to ongoing schemes to boost domestic investments in India. These include the National Infrastructure Pipeline, Reduction in Corporate Tax, easing liquidity problems of NBFCs and Banks, various policy measures to boost domestic manufacturing. Government of India has also promoted domestic manufacturing of goods through public procurement orders, Phased Manufacturing Programme (PMP), Schemes for Production Linked Incentives of various Ministries.
19. Extension of date of implementation of Toys (Quality Control) Order, 2020
The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Govt. of India today issued notification, extending the date of implementation of Toys (Quality Control) Order, 2020 as 1.1.2021 in place of 1.9.2020. This decision allows domestic manufacturers four months of extra time to make necessary arrangements for compliance of standards in view of difficulties arising out of COVID-19 pandemic. Sources https://pib.gov.in/PressReleseDetail.as
20. Central Government Issued an Advisory to All States / UTs and Their Real Estate Regulatory Authorities to Treat Covid-19 Pandemic AS Force Majeure and Automatically Extend the Registration/Completion date of all Projects Registered Under Rera for a Period of 6 Months
In view of the situation created by the global pandemic COVID-19 (Corona Virus), reverse migration of labourers and breakdown of construction materials supply chains, the construction activities of real estate projects were affected adversely across the country. To protect the interest of all stakeholders including homebuyers, Central Government issued an advisory to all States / UTs and their Real Estate Regulatory Authorities to treat COVID-19 pandemic as force majeure and automatica
21. Hair Transplant in Hyderabad | Hair Transplant Cost in Hyderabad | Dr.Yv Rao Clinics
Hair Transplantation Hair Transplantation is a minimally invasive surgical procedure wherein the hair surgeon extracts the healthy hair follicles from the posterior part of the scalp and transfers them to the bald areas. It helps the patient to get back the lost hair. Hair transplant is an ideal solution for people suffering from hair thinning, hair loss, and partial to complete baldness.  Wh
22. Shri Gangwar Introduces Three Labour Codes in Lok Sabha Heralding The Path of Game Changing Labour Welfare Reforms in The Country
Minister of State (I/C) for Labour and Employment, Shri Santosh Gangwar today introduced three Labour Codes in the Lok Sabha heralding the path of game changing labour welfare reforms in the country. These bills are (i) Industrial Relations Code, 2020, (ii) Code on Occupational Safety, Health & Working Conditions Bill, 2020 (iii) Social Security Code, 2020.  While introducing the bills he mentioned that the Code on Wages has already been approved by Parliament in the month of August, 2019 and ha
23. Foundation Stone of World Class ‘Centre for Disability Sports’ at Gwalior Laid Today
The foundation stone of ‘Centre for Disability Sports at Gwalior,Madhya Pradesh’ was laid at a function organized by DEPwD, Ministry of Social Justice and Empowerment through video conferencing today. Shri Narendra SinghTomar,Union Minister of Agriculture & Farmers’ Welfare, Rural Development, Panchayati Raj and Food Processing Industries, Government of India, Shri Vivek Narayan Shejwalkar, Member of Parliament (Lok Sabha), Gwalior, Bharat Singh Kushwah, Minister of State for Hortic
24. Payroll Reporting in India – A Formal Employment Perspective
The National Statistical Office(NSO), Ministry of Statistics and Programme Implementation has released the press note on Employment Outlook of the country covering the period September, 2017 to July, 2020 based on the administrative records available with selected government agencies to assess the progress in certain dimensions. A detailed note is annexed. A detailed note is annexed
25. New Industrial Policies
The Government is in the process of bringing out a strategy paper on boosting industrial growth which will be a roadmap for all businesses in the country.   Scheme for Affordable Rental Housing Complexes (ARHCs), a sub-scheme under Pradhan MantriAwasYojana – Urabn (PMAY-U), for providing accommodation at affordable rent to urban migrants / poor has been launched on 31.07.2020 after approval of the Union Cabinet. It’soperational guidelines along with implem
26 बिहार तकनीकी सेवा आयोग | आयुष चिकित्सा पदाधिकारी की नियुक्ति हेतु विज्ञापान #Bihar 5 Days Remaining for Apply
बिहार तकनीकी सेवा आयोग | आयुष चिकित्सा पदाधिकारी की नियुक्ति हेतु विज्ञापान बिहा ...
27 Research Officer Recruitment in IOCL R&D Centre Faridabad #Jobs 4 Days Remaining for Apply
 Research Officer Recruitment in IOCL R&D Centre Faridabad IOCL-Research Officer Recruitment 2020 Indian Oil Corporation Limited (IOCL), has its Research and Development (R&D) Centre at Faridabad near Delhi. Indian Oil R&D Centre Faridabad is looking for energetic and dedicated PhDs for recruitment as Research Officer/Research Manager in the R&D Centre in various research areas. IOC R&D centre invites online application on prescribed format ...
28 Four year B.Tech. degree course under the 10+2 Cadet (Technical) B.Tech. Cadet Entry Scheme into January 2021 batch #Engineering 1 Days Remaining for Apply
Online Applications on prescribed format are invited by Indian Navy from unmarried male candidates who have passed Senior Secondary Examination (10+2 Pattern) or its equivalent examination from any Board with at least 70% aggregate marks in Physics, Chemistry and Mathematics (PCM) and at least 50% marks in English (either in class Xth or class XIIth) to join the prestigious Naval Academy, Ezhimala, Kerala for a four year B.Tech. degree course under the 10+2 Cadet (Technical) B.Tech. Cadet Entry Scheme in ...
29 56th Men and 27th Women SSC Officer Technical Recruitment in Indian Army April-2021 entry #Defense & Police 24 Days Remaining for Apply
 56th Men and 27th Women SSC Officer Technical Recruitment in Indian Army April-2021 entry Online applications are invited from eligible unmarried Male/Female Engineering Graduates and also from Widows of Defence Personnel who died in harness for grant of 56th entry for Men and 27th entry for Women for Technical Short Service Commission (SSC) entry in the Indian Army. ...
30 Educational talent search program, ALLEN academics young talent search program for students | TALLENTEX 2021 #Scholorship 22 Days Remaining for Apply
Educational talent search program, ALLEN academics young talent search program for students | TALLENTEX 2021For student Studying in class 5th, 6th, 7th, 8th, 9th & 10th Stage-1 : Online | Stage-2 : Offline / CBT ...
We would love to hear your thoughts, concerns or problems with anything so we can improve our website educratsweb.com ! visit https://forms.gle/jDz4fFqXuvSfQmUC9 and submit your valuable feedback.
Save this page as PDF | Recommend to your Friends

http://educratsweb(dot)com http://educratsweb.com/content.php?id=2240 http://educratsweb.com educratsweb.com educratsweb