In a landmark order, the MAHARERA has gone a step ahead in safe guarding the rights of the Homebuyer’s and allowed refund when the developer could not get the Completion Certificate. This will help the buyers protect their money in cases where project is sold and developer fails to get the basic certificates for construction.
A milestone judgement by the MahaRERA Authority to ensure the development of the real estate industry by protecting the homebuyer’s interest by balancing the rights of homebuyers as well as project developers.
MahaRERA directs the respondent to refund the amount paid by the complainants to the respondent along with interest under Section-18 of the RERA.
The RERA authority of Maharashtra ordered a builder to refund an amount of Rs. 1.8 Crore to a homebuyer because after the passage of two years the builder failed to register agreement to sale and had already charged 30% of the price.
Maharashtra Real Estate Appellate Tribunal (MahaRERA) observed in an order of Dinesh R. Humane V/s Piramal Estate Private Ltd., that could offer relief to many flat allottees that the right to reserve a flat includes the right to cancel the reservation.
Maharastra government has proposed amendment in MahaRERA act to crack down on builders who sell a single flat to multiple buyers in a significant step.
Big relief for the homebuyers of M/S Bombay Dyeing and Manufacturing Co Ltd. the MAHARERA Tribunal has ruled in the favour of the homebuyers asking the developer to refund the paid amount.
The real estate industry, contributing 7 percent to the GDP and employing 15% of the labor force, has come to a complete standstill. Recently, MahaRERA has decided to hear urgent cases.
Builders requested that Refund and penal orders to be set aside or be reviewed due to the COVID-19 outbreak financial markets are seeing an all-time low.
MREAT directed the developers to refund the forfeited amount of Rs. 8.14 lakhs to Jagdish Patel and Pravin Patel within two months.
Consumer Court or MahaRERA: Homebuyers have the option of withdrawing the pending consumer complaint and file before appropriate RERA authorities.
Explained why and how MahaRERA should implement and use Suo Motu Power and speculate about the effects of Suo Motu Powers on the homebuyers.
Under Section 40 (1) of the RERA Act 2016, the authority can issue recovery warrants against developer who failed to comply with its order to refund home buyers.
The high court upheld the decision of the Appellate tribunal by directing the builder to deposit the 50% of the refund amount as ordered by the authority in order to hear the plea.
While dismissing the complaint the authority observed that both the Section i.e. 12 and 18 operate at two separate times of the transaction.
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