The Forum for People’s Collective Efforts (FPCE), a group that campaigned for the enactment of the Real Estate (Regulation and Development) Act, said the regulation has failed to meet the expectations of scores of homebuyers whose investments were stuck in ongoing housing projects. Enacted five years ago, RERA covered both […]
West Bengal Housing Industry Regulation Act 2017 Is Unconstitutional, In Conflict With Central RERA: Supreme Court
The Supreme Court on May 4 struck down the West Bengal Housing Industry Regulation Act, 2017 (WBHIRA) as ‘unconstitutional’, saying it is in conflict with the Real Estate (Regulation and Development) Act, 2016 (RERA), a Central legislation already in place. The apex court said that the state of West Bengal […]
Financial Strain Experienced By Real Estate Developers In The Times Of COVID-19
The real estate sector was caught in a conundrum last year with flattening demand, a challenging funding environment, and increasing compliance-based costs. The onset of the pandemic exposed the fragile financial health and business models of real estate developers in India. The financial health of developers in the preceding 12 […]
BJP Pitches For Seamless Real Estate Development In West Bengal
The Bharatiya Janata Party (BJP), in its manifesto unveiled on March 21, has promised that it will implement the Real Estate (Regulation and Development) Act to allow “seamless real estate development” and create a “standardized and transparent framework” for the buyers. “We will implement the Real Estate (Regulation and Development) […]
Corona Virus: CREDAI Communicates With PM, Asks For Instant Relief For Real Estate
The Confederation of Real Estate Developers Association of India (CREDAI) on Monday in an open letter to Prime Minister Narendra Modi sought immediate measures to revive the real estate sector. “In this distressful situation arising out of the COVID-19 calamity, we in the real estate sector seek immediate relief for our survival,” […]