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real estate regulations

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In a landmark verdict, Bombay High Court has quashed orders allowing a few members to split Jay Anand Co-operative Housing Society and take separate land papers, ruling that small groups cannot force bifurcation without 75% majority consent or genuine public interest.

MahaRERA’s Rule on Housing Society Formation: A Guide for Homebuyers in Maharashtra

Under MahaRERA guidelines, developers must enable the formation of a housing society or legal entity within three months from when 51% of apartments are booked or upon receiving the Occupancy Certificate (OC). This provision, per Section 11(4)(e) of the RERA Act, empowers homebuyers by shifting control from promoters to residents.
Shahid Balwa of DB Realty has been appointed as Convener by CREDAI MCHI for BMC related tasks

Shahid Balwa of DB Realty Named Convener of CREDAI-MCHI Task Force to Smooth Developer-BMC Relations

Shahid Balwa, Managing Director of DB Realty, has been appointed convener of…
MahaRERA

MahaRERA Dismisses Complaints Due to Pre-RERA Contracts,

MahaRERA has ruled that homebuyers with pre-RERA contracts cannot seek relief under the Real Estate (Regulation and Development) Act, 2016, as the terms of these agreements remain binding. However, a homebuyer with a registered sale agreement has been awarded interest compensation for delayed possession.
MahaRERA Order

MahaRERA Adjourns Complaint Against Karrm Infrastructure Amid Insolvency Proceedings

MahaRERA has adjourned a complaint filed by Gayatri Ramesh Gurudu against Karrm Infrastructure due to ongoing insolvency proceedings initiated by M/s. VSJ Investment Pvt Ltd. The complainant sought a refund for her booked flat in the Karrm Panchtatva-2 project but will need to pursue her claim through the Corporate Insolvency Resolution Process as per the National Company Law Tribunal’s order.
India’s higher-education sector is set for a massive infrastructure expansion, requiring 2.7 billion sq ft across 30,000 acres and nearly USD 100 billion in investment, driven by policy reforms, rising enrolments, and entry of global universities, according to ANAROCK Capital.

Real Estate Agent Brokerage to Be Mentioned in Sale Agreement

Maharashtra’s real estate sector has achieved a significant milestone with the introduction of a regulation requiring the documentation of real estate agent brokerage in sale agreements. This change enhances transparency and accountability, ensuring that all financial obligations related to brokerage are clearly defined. With the support of NAR-India, this initiative marks a new era for professionalism in the industry, benefiting both agents and buyers.