'Except facilitating builders in default, it is not doing anything else. Better to just abolish this institution.'
Before booking a flat, buyers should confirm that the project is registered with the state's Rera portal.
India's leading conglomerates are stepping up investments in real estate, recasting what was once a peripheral activity into a core growth driver. Supported by strong balance sheets, established brands and access to long-term capital, major business houses including Aditya Birla, Tata, Godrej, L&T, Raymond, Wadia, Shapoorji Pallonji, Mahindra and Adani are positioning realty as a strategic pillar within their diversified portfolios.
For homebuyers, the OC is not just an administrative formality but the very basis of lawful possession. Without it, the property is deemed unauthorised, exposing buyers to risks such as eviction, denial of utilities, or even demolition.
While gold continues to provide safety after its strong 2025 rally, well-chosen real estate investments held with a long-term view remain attractive.
'The directives to enhance last-mile funding, consider revival funds, and systemic reforms across the sector are expected to revive stalled projects, improve accountability, and accelerate the delivery of affordable and mid-income housing.'
'The momentum is driven by rising affluence, strong demand from HNIs (high net worth individuals) and NRIs (non-resident Indians), an increased appetite for larger, well-located homes by branded developers, and support from the economy.'
Many buyers skip or misread critical provisions in builder-buyer agreements.
There is need for buyers to understand cancellation rules before entering into a purchase agreement with a developer.
Registering the agreement for sale remains the most reliable way for a homebuyer to secure their legal and financial interests.
'Buyers should be provided either a fixed possession date or a firm date for the start of construction.'
Taking possession without an OC can lead to legal complications, denial of utilities such as water and electricity, hurdles in availing home loans or reselling the property, and even eviction.
DLF will officially launch its Mumbai housing project in the next quarter as the company has received the RERA approval a day before, while the real estate major sold out all 1,164 units in its luxury residential project Privana North securing Rs 11,000 crore revenue, DLF Homes joint managing director and chief business officer Aakash Ohri said.
MahaRERA, the authority under Real Estate (Regulation and Development) Act, 2016, in Maharashtra, has blacklisted 644 housing projects in the state for not meeting project deadlines. The authority has prohibited them from being sold, advertised or marketed in the state. These projects were supposed to be completed and handed over to homebuyers in 2017 and 2018. Even though most of the projects are being developed by local developers, one big name on the list is Lavasa Corporation promoted by HCC whose registration expired in 2017.
'Every delay directly increases the cost burden on developers. Land holding charges, financing costs, and compliance expenses escalate as approvals drag on.'
However, the report pointed out that the implementation of the grievance redressal process still has many gaps as "only 22 per cent of the consumers involved in a grievance redressal process were satisfied due to the uncertain timelines involved". The Real Estate (Regulation and Development) Act, 2016, was passed by Parliament in March 2016.
The bench, headed by Justice Patil, however, allowed a significant leeway for the developers in the judgment by permitting the state-level RERA Authority and the Appellate Tribunal to consider delays on a case-to-case basis, and not to cancel such projects or developers' registration in cases where the delay was caused due to "exceptional and compelling circumstances."
A consumer forum in Lucknow, India, has halted the construction of actress Sunny Leone's restaurant-cum-bar, citing concerns about "unauthorised activity" and potential security threats to the neighboring high court premises and the Indira Gandhi Pratishthan. The commission deemed the allotment of the society's community center to a commercial establishment as inappropriate and raised concerns about the Lucknow Development Authority's approval of the project. The matter has been listed for further hearing on February 19.
A trust deficit had been building between developers and their customers, with massive incidence of project delays and deviations. Compliance with Rera is an opportunity to revive buyers' confidence.
State real estate regulators are the best option for home-buyers when it comes to seeking relief. The cases are disposed much faster, and the individuals don't need to engage lawyers as the process is simpler, says Tinesh Bhasin.
According to property consultancy firm Knight Frank, only 19 states and UTs have a functional portal in place, that too with a lot of information dissymmetry across data points
Union Finance Minister Nirmala Sitharaman on Saturday announced a fresh Rs 15,000 crore 'SWAMIH Fund' for completion of 1 lakh units in stalled housing projects across various cities, a move aimed at providing relief to distressed homebuyers whose investments are stuck. In November 2019, the Centre announced a stress fund named 'Special Window for Affordable and Mid-Income Housing' (SWAMIH), to complete stalled housing projects across India.
'The better developers are seeing good demand (for their housing projects). There are consumers who are buying houses.'
For those looking for more affordable options, purchasing an under-construction property could be a smart move, as these generally cost less than ready-to-move-in properties.
States such as Maharashtra have made it mandatory for developers to register the ongoing projects
It is expected to bring transparency and reinstate consumer faith in the industry, says Brotin Banerjee.
At least 50,000 units of new residential property are set to come up over the next three years
'Consider your household's financial health and all your other goals.' 'Buying a house might seem like an urgent goal, but it is rarely the only one.'
Rera's implementation is patchy across states, and the powers of the regulator to enforce its orders are also limited.
Promoters must mandatorily deposit 70% of unused fund collected for project in separate bank account
Buoyed by regulatory overhaul and infrastructure boom, engineering conglomerate Larsen & Toubro (L&T) has identified realty business as one of its growth engines for the next 10 years and plans to acquire land parcels while expanding pre-sales, said a senior company executive. L&T Realty has started looking out to acquire land parcels and grab partnership development opportunities across markets to scale up its business. "We are making some strides in that direction, albeit cautiously.
Section 19(4) of the RERA Act entitles allottees to a refund if the developer doesn't comply with the terms of the sale agreement.
In a relief to homebuyers, assets in a real estate project that have been handed over to the allottee would be kept out of the liquidation process of the company, the latest amendment to the rules by the Insolvency and Bankruptcy Board of India (IBBI) has said. The notification dated February 12 said: "For the purposes of clause (e) of sub-section (4) of section 36, wherever the corporate debtor has given possession to an allottee in a real estate project, such asset shall not form a part of the liquidation estate of the corporate debtor." Real estate experts call it a "pragmatic approach" by the regulator. "However, there are many cases where possession has not been given because the property is stuck in insolvency.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Channel partners have started adding more value in marketing and sales. They are increasingly acting as advisors -- sales professionals than brokers.
'In real estate project insolvency, no one size can fit all.'
'What happens in the real estate market is that once the prices go up it goes on to stay at that level.' 'It might not increase and at the same time the prices will not come down too.'
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
Launch of new residential projects in top eight cities -- Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, National Capital Region (NCR) and Pune -- came down by 41 per cent in first half of 2017.
Look at the sanctioned plan to know the exact carpet area you will get and pay a law firm to conduct a thorough title check.
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