Real Estate Regulatory Act 2016| RERA

The  Housing Ministry  has  asked to  implement RERA ( Real Estate Regulatory Act)  to all states  from 1st May 2017, Till  date  11 states and  UT’s have so far notified the rules. The states that have notified the rules are Uttar Pradesh, Rajasthan, Uttarakhand, Kerala, Haryana, Gujarat, Odisha, Andhra Pradesh, Maharasthra, Madhya Pradesh and Bihar.

The housing ministry had last year notified the rules for five UTs—Andaman and Nicobar Islands, Chandigarh, Dadra and Nagar Haveli, Daman and Diu, and Lakshadweep, while the urban development ministry came out with such rules for the National Capital Region of Delhi .

The bill was passed last year  in both the houses of parliament, Now each of the state will have its own regulator and will have to come out with their own rules.

The major reason to establish RERA act is to ensure Transparency & efficiency in Real Estate Sector, &  protecting the interest of buyers.

Key Highlights Of  RERA.

The Real Estate Projects more than 500 Sq.mt. or  more than 8 apartment has to do registration with the authority before start Selling .

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Smart City Mission India | What is smart City?

On June 2015 PM Narendra Modi launched Smart city Mission to develop 100 cities all over the India.

The purpose of the Smart City Mission is to drive economic growth and improve the quality of life of people by local area development and technology . The objective is also to promote cities that provide core infrastructure and give a decent quality of life to its citizens, a clean and sustainable environment and application of ‘Smart’ Solutions.

The major challenges in this would be to turn slums into better planned ones, & improving living of the whole City. The area based development will be carried out by the way of City Improvement, City renewal, & City extension in which New areas to be developed around cities.

The mission is going to cover 100 cities & its duration will be five years. [2015 to 2020].

There are different stages in a selection of smart cities 1st stage is Intra state competition where state governments to shortlist potential smart cities according to the criteria of MoUD(Ministry of Urban Development) , on the basis of that the list of potential 100 smart cities is announced, on next stage each of potential smart city has to prepare a proposal, for which then evolution is done by panel of experts where selected cities would be declared as Round 1 smart cities, then selected cities to prepare SPV (special purpose vehicle) & start implementation of SCP( smart city proposal).& other cities get chance to improve their proposal for next round of the challenge.

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