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Upon successful registration, the promoter of the real estate project will be provided with a registration number, a login ID, and a password to fill up the essential details on the website of the State RERA. [13] If the promoter fails to register, he shall be liable to a penalty that may extend up to a penalty of 10% of the estimated project cost.
RERA is a part of Dubai Land Resources Department. The agency has its own financial and administrative independence with full legal authority to regulate the real estate sector in Dubai. RERA provides transparence and effectiveness of legal framework , when everyone involved in the property market can conduct a business.
The Ajman Real Estate Regulatory Agency (ARRA, ARERA or Ajman RERA) is an Ajman, United Arab Emirates based government regulatory authority responsible for the regulation and licensing of Ajman's real estate market, consumer protection and dispute resolution. However, ARRA does not resolve disputes concerning rent of property units. [1] [2] [3 ...
A major benefit of registering properties with this Simsari is that it will limit the number of ghost listings in Dubai. It is a common practice of real estate property sellers to list a single property with several brokerage firms with different prices; after registering with Simsari, every real estate agency or agent can is limited to listing each property with three property management firms.
RERA may refer to: Dubai Real Estate Regulatory Agency; Ajman Real Estate Regulatory Agency; Real Estate (Regulation and Development) Act, ...
At the same time Magicbricks launched MagicHomes, a centralized platform which brings information on authenticity and compliance of new projects sourced from verified authorities like RERA and a curated selection of nearly editorial reviews. [9] [10] Magicbricks bought a majority stake in PropViz, a company that made property viewing technology ...
Aliens Group was founded in 2004 by Hari Challa and Venkat Challa. [1] Its projects include Aliens Space Station, a residential skyscraper in Gachibowli, Hyderabad; at 120 metres (390 ft), it is currently tallest brick mortar structure, and will be amongst top ten or twenty buildings in when completed fifth-tallest building in the city. [3]
The new projects undertaken instigate with recognition of project sites, public announcement about the new MDDA housing schemes]in various categories through newspapers and other media advertisements, formal acceptance of the applications, a transparent draw (lottery)system for short-listing of the applicants and finally allotment of the property.