Category: RERA

AMENDMENT OF TOWN & COUNTRY PLANNING ACT, 2020 TO BOOST REAL ESTATE

The State Govt. has passed an ordinance on 22nd May 2020 to the TOWN & country planning act. Under the New Amendment act, The Developer shall provide a Provisional plan and Plan of phased development wherein the Developer/Builder can develop the project in three phases. The developer/Builder can develop the first phase with 40% development of the layout and thirty percent in the second phase & remaining 30% in third phase.

Thus after the area earmarked for roads, parks, Playground & other civic amenities of the entire layout area & after completion of the all infrastructure in first phase development the builder has to get the completion certificate from the concerned authority along with first phase development plan and then the developer/builder will be given permission to sell the sites of the first phase development.  The permission to sell will be given only after the registration of the Real Estate Project with RERA.  Similarly the Developer/Builder will be given permission to sell the sites/flat in the second & third phase only after the completion of all infrastructure in second & Third phase development.

ENFORCEMENT DIRECTORATE PERMITTED TO ATTACH THE ASSETS OF JP MORGAN TO THE EXTENT OF MONEY DIVERTED FROM AMRAPALI HOMEBUYERS

 

Last year Supreme court has ordered for the cancellation of RERA Registration of Amrapali group, as there were huge complaints of Diversion of the money paid by Homebuyers. Nearly 42000 flat buyers were waiting for possession of the flats after payment of huge amount of sale consideration. Nether the development was done nor flat was handed over to the Homebuyers.  Thus Home Buyers group has approached the Supreme Court in this regard.

In the meanwhile there were also allegations that the Amrapali group has diverted the Money to JP Morgan. The Supreme court has kept an embargo to the ED as to not to attach the assets of JP Morgan. That know the ED has provided Sufficient document in support of diversion of funds from Amrapali group to JP Morgan through the account. Hence Supreme Court has given permission to Enforcement Directorate (ED) which has identified that an amount of Rs.187 crores has been diverted to JP Morgan by Amrapali group from the amount paid by Amrapali Homebuyers in violation of Foreign Exchange Management Act & FDI Norms.

CHECK LIST FOR VERIFICATION OF LEGAL DOCUMENTS OF FLAT/PLOT/ SITES

CHECK LIST FOR VERIFICATION OF LEGAL DOCUMENTS OF FLAT/PLOT/ SITES

Title Deeds/ Mother Deed of the land

RTC/Pahani of land

Mutation Entry of land

IHC Certificate

Nil Tenancy Certificate

Family tree

Tippani

Akharbandh

Land Survey records,

Survey Assessment

Atlas

Village map

Index of lands

RR balbagh

Secondary reclass tippani

Endorsement issued by Assistant Commissioner under sec.79A & B of KLRA & under sec.4 of PTCL Act

Registered Partition Deed/s

Registered Sale Deed/s

Registered Gift Deed (If any executed)

Will/s(If any executed)

Mortgage Deed and Discharge Deed (If land was mortgaged for any banks to secure loans)

Encumbrance certificate of land/s for past 30 years

Tax paid receipts

Registered Joint Development Agreement Executed between Builder & Land lord/s

Registered General Power of Attorney Executed by Land lord/s in favor of Builder

Conversion order issued by Deputy commissioner permitting the conversion & use of agriculture land to Non-Agriculture residential use.

Conversion fees paid challan/receipt

Permission for change of land use

Building Approved plan And License

Plan sanction issued by Competent Authority

Commencement Certificate

NOC from BWSSB, BESCOM, KSPCB, HAL, BSNL, SEIAA, Fire Department, Airport Authority of India

House & Vacant Site register extract

Betterment charges paid receipt

Work Order issued by Competent Authority

Katha certificate

Completion & Occupancy Certificate

RERA Registration certificate

Encumbrance certificate of flat/Plot/Site