In UP RERA, a separate department has now been made to look into the matters where the execution of the order has not been done.
UP-RERA’s Strict Action against Ansal API for Non-Compliance of Orders
UP RERA has imposed a fine amounting to Rs.1 Crore on ANSAL API for the non-compliance of orders passed by the authority.
What if the agreement does not mention the possession date?
Not mentioning the date of giving possession to the buyer is a clear matter of fraud and misrepresentation and as per the Maharashtra Ownership of Flats Act of 1963.
Filing of insolvency petition before NCLT by the Homebuyer- A Complete Analysis
In the year of 2016, a new set of laws as RERA Act have been implemented, specifically to protect the homebuyer and ensure the growth of real estate sector.
IBC as a forum for Insolvency or Settlement?
According to S.4 of the IBC, the minimum default required to initiate insolvency proceedings against a corporate debtor is Rs. 1 Lakh.
UP-RERA takes over Unnati Fortune’s deregistered Aryana Project
One of the first projects to be deregistered by UP-RERA and the subsequent proceedings will decide how well RERA will be in implementation.
Impact of RERA so FAR
RERA, has taken cognizance of the multiple ways by which consumers have been cheated in the past, and provided for solutions through their regulation mechanisms.
Recognition of Home Buyers as Financial Creditors under IBC
Home buyers are vital stakeholders in building projects. Many home buyers book their property in advance which helps builders raise funds for construction and development of the project.
Execution of RERA Orders-Through RC-An Analysis
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.
2 years of RERA Implementation- A Practical Experience
Centrik has tracked and been with RERA since its 1st day of implementation. During these 2 years of journey, we have resolved more than 6700 assignment relating to RERA and Insolvency laws on different issues.
Cost of advertisements are not a part of the cost of construction
MahaRERA makes it abundantly clear that cost of construction of the project shall not include marketing and brokerage expenses towards sale of apartments.
Critical Analysis of RERA
The act was introduced to curb the mal-practices and the abuses caused to the customer. The act intends to protect the interests of the consumers and regulate the real estate sector.
Deregistered Projects and Homebuyers- The Road Ahead
This is the first time that a RERA Authority has ordered the deregistration of a project on the grounds given under section 7 of the RERA Act, 2016.
A new tool in the hands of RERA Authorities
The RERA Act empowers the Regulatory authority to call for information or conduct investigations. These investigations have been mainly in the form of financial audit conducted by the auditors.
Brief Introduction to RERA
Over the course of the last two years, RERA has come up and grown as an effective weapon for consumers in the real estate sector. RERA has established itself and gained the awareness necessary to protect home buyers.