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Ask RERA

Discussion in 'Dubai property' started by RERA Official, Dec 24, 2008.

  1. RERA Official

    RERA Official Banned

    Dear All

    whoever has any concern, question or suggestion, Please approach me

    We are in the market to make sure that rights are protected

    Do not listen to rumors, ask RERA and you will get the right answer wthin 48 hours


    RERA official
     
  2. jags

    jags New Member

    i have a property.it is 100%paid. the project is still hole in the ground. i asked the developer to take 30% and refund me the balance 70%.he refused to do so. how can i get my money back. what happens if he goes bankrupt. if he has used the funds from escrow for the purchase of land marketing and material etc. i paid my first half of the money in his business account and rest in the escrow.what are the chances of him running away with it. what is the future of dubai property market. how long does court take on average to settel the dispute.

    thanks a lot in advance. you might be a ray of hope for the panicked investors.

    thanks again.
     
  3. jags

    jags New Member

    this morning i woke up early just to speak to somebody in RERA. i made 3 calls.finally i was given mr mohammad''s no. i have tried may times, no response. investors from abroad don't know who to turn to to protact their investments.

    laws are not transperent.they change everyday.people are losing confidence in the Dubai market. its reputation as a safe investment heaven has been tarnished. what is the situation on residence visa.if it has been pulled out, dream of retiring in Dubai has been shattered. this is not fair. investors flocked to buy property for the visa so they can have a secure retirement in a stable state.they would have been a great contributor to the economy. if Dubai wants to come out of this mess it has to make all the law transperent.protect the investors not the greedy developers. otherwise no one will come back and Dubai will never be able to stand again. this property boom will become the history. i love Dubai and i am still hoping to retire here if visa situation is gets clear.
     
  4. RERA Official

    RERA Official Banned

    Regarding first question: i will check with legal people to give you the right answer soon


    Regarding vizas: you will hear good news soon.. trust me


    RERA is sorry for not being able to answer all your concerns since we receive thousnads of calls and emails add to that alot of people coming to our offices.(we are only 60 staff in RERA )


    I will make sure that you get right advice


    thanks
     
  5. RERA Official

    RERA Official Banned

    Dear

    pleae provide me with the following

    1) project name
    2) developer name


    i will get back to u sooon
     
  6. jags

    jags New Member


    thanks. i will wait for the reply.
     
  7. jags

    jags New Member

    it is Elits 5 in sport city.

    the developers are triplanet group.

    i have spoken to Mr Faisal.the vice chairman.
     
  8. memo123

    memo123 Member

    I have been calling RERA ALL MORNING, since the second I opened my eyes all i want is my escrow balance .
    i have my PDR number and all i get is an answering machin.
    i demand to see my balance for my developer said he has been using our esrow to pay for the land , i demand to see if he is crdible to continue building and not on his way out of the country.
    there is nothing on site after 9 months . although the devloper claims " we have started construction" , when you go there all you see that he put a "cow" fence around the ground
    i demand protection , and all i get from RERA is " go to court"
    why dont you send inspectors with structure engineering background to the site , to inspect the site and see how the developers are lying . and what have they done there after recieving 40-50-60 % of our money and still demanding more . You gave them he jocker to play with 30/70 so they wont do anything and show that we are defaulting and keep all our money , scrap the whole project mean while they still have possission of the land from our money and after 5 years come back and build it . Give me a break .
     
  9. RERA Official

    RERA Official Banned

    Dear

    Plz have alook at the contract you signed with the developer. does it say any thing about payments and linking them with construction? Another thing: does it say when the apartment to be delivered?


    If the completion date is mentioned and it is not met, you are in a good position


    for Any project that has escrow account : do not worry your money is safe.

    RERA had hired technical people to inspect all sites ,, dont worry

    No developer is immune; we are here to correct the past mistakes.

    Investtors should be more carefuyl beofre signing any thing with developer
     
  10. memo123

    memo123 Member

    RERA OFFICIAL
    Thank you for you initiative to help out frustrated investors and offer your own time to do so
    i do appreciate it and hope you can be of help to us as we are not living in dubai
    Regards
     
  11. RERA Official

    RERA Official Banned

    Dear all

    Beleive me you are in minds and every day meetings of all government officials

    we are working hard to help you guys.


    what we need from you guys is to be careful and have every thing documented in written.

    No injustice in Dubai
     
  12. shahmeer

    shahmeer New Member

    Dear RERA Official,

    This is a really good initiative and I'm sure a lot of people will appreciate especially people lime me who live outside Dubai.

    I have a few questions.

    1. What happens if the developers fails to open an ESCROW Account even 6 months after selling off plan units?
    2. What happens if there in no sign of construction starting even after 6 months of buying an offplan property?
    3. There is still a lot of confusion regarding the 30/70 rule and law 13. Can you please clarify this because I heard some changes have been made but on RERA website still the august law of 30/70 is published.

    For example if a property is valued at AED 1 Million. I have paid 20% uptill now, that would be AED 200,000. Now what happens in terms of cancellation? As per my understanding the buyer should get back AED 200,000 - 30% = AED 140,000. Tell me if this is right? and if not what actually happens?
     
  13. DelboyG

    DelboyG New Member

    Dear RERA Official,

    This is a great idea, correct and proper answers will ease the pressure on RERA officials by spreading information to a wider audience as well as calming the investors.

    Can I request that you post a profile with contact details so that we know you are a RERA official and therefore entitled to speak on their behalf.

    Thank you.
     
  14. poorwoman

    poorwoman New Member

    Hi rera official
    I invested in a single bed room apartment in "M Burj tower 1" on 3 rd
    May 2008 which is the launch date . From all the sources gathered
    they have not started any construction in the site and is almost 7
    months from the launched date . I received a notification from Emmar
    asking me to pay the due amount within 14 days if not all the sums
    previously paid shall be forfeited to the vendor. This project is not registered with rera and now my 14 days time period is over too. kindly advice
     
  15. RERA Official

    RERA Official Banned

    1. What happens if the developers fails to open an ESCROW Account even 6 months after selling off plan units?

    This is against law #8. you should report them to RERA
    2. What happens if there in no sign of construction starting even after 6 months of buying an offplan property?

    This is against law 8 . violatiion will lead to fines or 3 years jail
    3. There is still a lot of confusion regarding the 30/70 rule and law 13. Can you please clarify this because I heard some changes have been made but on RERA website still the august law of 30/70 is published.

    RERA will issue explanation of the law very soon.


    FOR ALL only pay in escrow account ... be carefull . whoever asks you to pay out of escrow account, dont pay and report it to RERA( rera website)
     
  16. RERA Official

    RERA Official Banned

    Please make sure that project is registred in RERA AND pay in the escrow account

    all of you review your contracts,, since it comes before every thing
     
  17. naxal

    naxal New Member

    SIR ,
    I very much appreciate what you're doing & SPENDING your valuable time for us .

    Similar to the post by DelboyG , I also stress that you post your details and that you can speak on behalf of Rera .

    Furthermore , I need to put to Rera's notice a complaint submitted since 21/12/2008 , Complaint Number RERA/12/2008/2864 . There has no response received from Rera concerning this complaint AND I have very little time remaining on my side so Please ask Rera to respond as the developer has threatened and given a very short deadline to pay otherwise my unit will be forfeited .

    PLEASE ANSWER AT THE EARLIEST .

    THANK YOU .
     
  18. naxal

    naxal New Member

    One last clearification required regarding the below question :

    What happens if there is no sign of construction starting even after 6 months of buying an offplan property?
    This is against law 8 . violatiion will lead to fines or 3 years jail

    MY QUESTION : What happens if the construction ,which has started , IS MOVING AT A SNAIL'S PACE ? (I mean to say the project launched in 2005 ,
    completion stated from developer was 2007 ,now completion revised to 2011 only for my unit but the progress of construction is extremely slow that even 2011 does not look possible but developer is still promising 2011 which any sensible person will not believe !
     
  19. memo123

    memo123 Member

    if i bought my unit in march and the developer has not started building and just received the contract
    question would law 13 applies to me or not
    i know that my developer is in violations of so many article ,i just want to know does law 13 applies for the MOUS' signed before august 14 or not?
    regards
     
  20. Datum1m

    Datum1m New Member

    If you are a real RERA official, do you have a licence number and where are you based and what position do you hold?

    I have two very important questions

    1) Is the Developer breaking the Law by making it a requirement of my Sales Reservation Contract to pay money direct into his general business account and not the project escrow account? And if so can I claim my money back in full straightaway and what Law do I quote him to do this, because if he as broken the Law why would I need to spend time and money taking him to court.

    2) Is a Developer legally allowed to sell the same units to too separate purchasers, one sale as been done under the terms of an MOU, where the original purchaser has the responsibility of making payments up to 30% of the sales contract value, should any secondary purchasers default on their payments under the terms of a Sales Reservation Contract. The Developer has been taking money from both the original and secondary purchasers at the same time and not making any payments into the Project Escrow Account. If the secondary purchaser defaults on his payments then the original purchaser gets the benefit of any payments the secondary purchaser has made once the secondary purchasers Sales Reservation Contract is terminated by the Developer. This is because the original purchaser just continues with his payments under the terms of his MOU and therefore gets a discounted unit at the expense of the secondary purchaser. I know that this sounds complicated and I hope I have explained it clearly enough, but the main point is can a Developer enter into two separate contracts for the sale of the same unit? And if he his breaking a Law by doing this can I claim my money back strightaway.
     
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