Rera makes the past tense for realtors

Developers who have not given possession of houses fear action if law is enacted retrospectively

Karan Choudhury  |  New Delhi 

More than the future, real estate developers are worried about their past as they wait anxiously for implementation of the Estate (Regulation and Development) Act, 2016, or Rera, from May 1. According to experts, if enforced retrospectively, a possibility as it is part of the clauses, developers which have not given possession of houses to customers could be penalised, including mandatory jail time.  Under the Act, cleared by Parliament in March last year, real estate companies, perceived to be a non-transparent lot, would have to give a slew of details to a proposed ...

TO READ THE FULL STORY, SUBSCRIBE NOW AT JUST Rs 149 A MONTH

Key stories on business-standard.com are available to premium subscribers only.

LOGIN

EMAIL / USER NAME
PASSWORD
REMEMBER ME Forgot password?
LOGIN

Not a member yet ? Resister Now

Connect using any below

  • Don't lose the opportunity of saving $26.77 per month
  • Don't lose the opportunity of saving $26.77 per month
Total Amount
Rs. 0.00
To proceed, kindly select a subscription package

WHAT YOU GET

On Business Standard Digital

  • Access your subscription from anywhere. Be it your computer, tablet or smartphone using a browser or the App, Your Choice.
  • Access to exclusive content, features, opinions and comment, hand-picked by our editors, just for you.
  • Pick your 5 favourite companies. Get all the news upates at the end of each day through E-Mail.
  • Pick the industry that you want to track. And get a daily news letter specific to that industry. Cut out the clutter.
  • And stay on top of your investments. Track stock prices in your portfolio
  • Access 18 years of archival data

On Digital

  • Seamless access to WSJ.com with your Business Standard digital account.
  • Experience the best of the Journal's reporting, video and interactive features.
  • Read about the people and events shaping business, finance, technology, politics, technology and culture.
  • Stay informed with newsletters - an easy way to get WSJ content straight to your inbox - making life easier on your busiest days.
  • More business executives read the Journal globally than any other publication.
*Note :
Our Partners are proud to be associated with this initiative and will contribute Rs 100 x 6 months thereafter, standard rate of Rs 149 will be charged.
Offer valid for Indian residents only
Requires you to share personal information like PAN, Date of Birth, and Income.
*Annual saving on WSJ subscription price of US$ 347.88 (12 months @ US$ 28.99 per month)
* 1US$ = 67.50 INR.
*Please note that this offer is not valid if you are/were a registered/existing user on WSJ Digital
Read our full coverage on Real Estate

Rera makes the past tense for realtors

Developers who have not given possession of houses fear action if law is enacted retrospectively

Developers who have not given possession of houses fear action if law is enacted retrospectively More than the future, real estate developers are worried about their past as they wait anxiously for implementation of the Estate (Regulation and Development) Act, 2016, or Rera, from May 1. According to experts, if enforced retrospectively, a possibility as it is part of the clauses, developers which have not given possession of houses to customers could be penalised, including mandatory jail time.  Under the Act, cleared by Parliament in March last year, real estate companies, perceived to be a non-transparent lot, would have to give a slew of details to a proposed ... image
Business Standard
177 22