The real estate sector was unregulated for a long time. If customers experienced delays, they had little redress. Because court disputes may take a long time, most customers were at the discretion of the builders. A proper complaint process has emerged as a result of the implementation of RERA.
The RERA Authority has the power to decide and dispose of the complaints as RERA is the best and most expeditious remedy for homebuyers to get justice from the builder when they violate the subvention scheme and delays the possession.
The Economic Offences form a separate category of criminal offences. Economic Offences not only victimize individuals with pecuniary loss but can also have serious repercussions on the national economy. Economic offences, such as counterfeiting of currency, financial scams, fraud, money laundering, etc.
The Hon’ble Supreme Court in its latest judgement dated February, 11 2021 declared that the proceedings under Article 32 of the Constitution by a purchaser, seeking relief in respect to a real estate project cannot be entertained.
Bihar RERA authority has taken Suo-Motu cognizance against five promoters and builders with the highest number of complaints.
Homebuyers who have been stuck due to CIRP and were unable to move before any court/ forum can now finally feel relieved and move before the developer company for any grievance.
The Real Estate Regulatory Authority Mumbai is experiencing a rough task in handling with housing ventures that are not registered under RERA, over which it has no control.
Complaint filed against the developer Shahaji Javir for delaying the possession for a period of 9 long years of the flat booked in Nitin Enclave at Airoli in the month of June of year 2018.
Karnataka (Real Estate Regulatory Authority) is the authority made for homebuyers so that they can get relief and developers cannot exploit them.
The MahaRERA has imposed penalties ranging from 2 lakhs to 12 lakhs on six developers for not following the obligations mentioned under S.3 and S.11 (2) of the MahaRERA Act
Gurgaon RERA: The distressed homebuyers will have the capacity to register complaints against developers for not honoring the builder buyer agreement (BBA).
A detailed article where you will know every thing about an arbitration clause and how it can impact the Builder-Buyer agreement.
This is going to be an edge over benefit for the homebuyers as they can go directly to UPRERA office and file complaint against the builder.
Homebuyers who have been martyr in the realty sector can now take a deep breath as the focal point of RERA Act is to safeguard the interest of homebuyers.
The Real Estate (Regulation and Development) Act, 2016 (RERA) was enacted in India to regulate the real estate sector and protect the interests of homebuyers.
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