#WeeklyNewsRoundup: Karnataka Notifies Final RERA Rules

The Karnataka government has notified the Real Estate Regulatory (Regulation and Development) Act, 2016, making it mandatory for all developers to register with the regulator. The Karnataka Real Estate (Regulation and Development) Rules, 2017, shall come into force from the date of their publication in the official gazette.

Meanwhile, the Gujarat High Court has issued a notice to the state government on a PIL seeking a direction to set up a regulatory authority under the Real Estate (Regulation and Development) Act, 2016 (RERA) . The Gujarat government hasn't yet set up the regulatory authority. 

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A high-powered committee appointed by the Bombay High Court has granted an in-principle approval to the coastal road project, paving the way for the Brihanmumbai Municipal Corporation (BMC) to get possession of the foreshore land. The BMC needed the approval of the committee for a 500-metre stretch of the coastal road, from Chota Chowpatty till the Princess Street Flyover, since it falls within the Marine Drive, a heritage precinct.

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The Pune Metropolitan Region Development Authority had taken over Lavasa Corporation after receiving a government resolution. The order has been issued by the state urban development department to review all permissions and sanctions issued from December 4, 2015, as the special planning authority (SPA) status of Lavasa stands cancelled from that date.

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The Noida Authority has completed the inspections of nine towers across the three projects of Jaypee, and will be issuing completion certificates soon. The three projects include Jaypee Aman, Jaypee Cosmos and Jaypee Klassic, all of which are located in Wish Town.  

Source: Media reports