Homebuyers may have delayed projects completed under the aegis of the AoA, under the model formulated under Section 8 of RERA. Joint proposal of ASGI Properties Pvt Ltd and ASG Apple 7 Buyers Association, authorised the developer to complete the stalled project.
UPRERA Authority has imposed penalty of Rs 2.5 crore against 11 developers for failing to comply with the authority’s order, which were in favor of homebuyers.
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.
The MahaRERA in three separate orders directed the CCI Projects Ltd to pay interest on delayed period of possession after the ongoing six-month moratorium due to covid-19 crisis is over.
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.
Open parking spaces fall within the definition of common areas in the RERA Act, and hence developers cannot charge homebuyers for open parking spaces.
Real Estate Regulatory Authority in Uttar Pradesh orders Forensic audit of errant developer 3C.
Tags Amendment under IBC, Tags bankruptcy, category of the financial creditors, execution of RERA orders
Since there are various difficulties in getting the order executed. At this point of time, the orders may be executed through RERA and also one can approach NCLT under IBC Law.
If there is any breach in the terms and conditions of the builder-buyer agreement or delay in possession of the property then a home-buyer can directly approach to the RERA Authority to avail the legal recourse.
The authorities of most of the states have passed numerous orders but none of them have been executed in reality. The orders remain on paper and developer/ promoters have not complied the order.
The execution of the orders is still a far fetched process as the RERA has failed to implement the execution mechanism under the RERA.
RERA Authority of Gurgaon has given the way out in the matter and finally, the home-buyers of the project can expect some results on the ground.
The Lucknow bench after hearing a series of complaints against Ansal’s in particular, it has ordered for the forensic audit of the builder, as the bench thinks the homebuyer is genuine hence it has put restrictions upon the activities of the Ansal.
In the cases against Ansal API Group one of the member Mr. Balwinder Singh has ordered Ansal Properties & Infrastructure Pvt. Ltd. to dispose off the grievances of the allottee within a week.
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