DDS & ASSOCIATES

RERA RESOLVED ALL CONFUSION REGARDING FORMATION OF ASSOCIATION OF MEMBERS / ALLOTEES AND GAVE DIRECTION FOR CONVEYANCE OF THE UNDEVIDED PROPOSNATE TITLE IN COMMON AREA AND FACILITY IN TITLE DEED RERA Authority came with the two important directions and put end to different opinions prevailing in the Real Estate market. For the purpose of RERA object and as per Sec 17 of the RERA Act, Association of Allottees could not be formed by way of Company, LLP, or Society but has to be under the Gujarat Co-Operative Society Act, 1961. Rule 9 of the Gujarat Real Estate ( Regulation and Development)(General)Rule 2017 gives the Draft Agreement for Sale    which provides that the Promoter is required to transfer the undivided proposnate share in the common areas in favor of the allottees. There could be convergence of the requirements of Sec 17 of the RERA Act, the draft agreement for sale and the provisions of the GOFA Act. This would also be in conformity with the practice of con...

The constraints which any regulatory agency has in fixing the goods and services tax (GST) rates in a country include the fact that it should be low enough to ensure compliance as well as not cause inflation, and high enough to generate revenue for the government. The concerns which led the GST Council to initially prescribe multiple rates was primarily to generate the same revenue as before, and in that light, keep the effective indirect tax rate on the commodity as close as in the previous jurisdiction. Rate rationalizations over a period of time have tried to bring down the rates in sectors to boost economic activity and move from a high rate of 28% to 18% for most commodities. In the most recent rate rationalization, the highest tax bracket of 28% has been rationalized further with rates on daily-use items like perfumes, cosmetics, toiletries, hair dryers, shavers, mixer grinder, vacuum cleaners and lithium-ion batteries, being lowered to 18%. For a number of consumer durabl...

RERA....THE AUTHORITY      REAL ESTATE BUSINESS UNDER GOOD GOVERNANCE....UNBELIEVABLE MOOVE FIRST TIME IN INDIAN HISTORY Year 2016-17 witnessed the year of Reforms in India and one of the biggest reform is implementation of RERA in whole India. For the first time Good Governance implemented by Law in the field of Real Estate. Why RERA should be taken care by the Team of Expert??? Because a small mistake, a small negligency or little delay in compliance results into heavy penalty and a loss of reputation of project. Some of the recent developments will show how the expert advise in compliance of RERA for the project matters a lot? The Maharashtra Real Estate Regulatory Authority has imposed a Rs 50 lakh-fine on Piramal Realty for violating the Real Estate (Regulation & Development) Act, 2016. The real estate developer failed to add MahaRERA’s website address in an advertisement published in a national daily .  It also carried the project's regis...