The Hon’ble Adjudicating Officer took no time and in the short period of a span, gave relief to several homebuyers by granting not only refund but also compensation.
Category: Business Advisory
Parsvnath brings hope in times of uncertainty waive off Interest for homebuyers
Philanthropic step to waive off the interest over the outstanding amount on pending payments from homebuyers and allow something called as interest holiday by the Parsvnath Developers along with its associate companies.
UP-RERA to grant relaxation to developers only after being functional
RERA Authorities being regulators are trying to help the Developers in one form or the other. Maharashtra & Karnataka-RERA have already given a three-month extension to registered projects.
Karnataka RERA extends the completion deadline of registered projects by 3 months
Karnataka RERA has given a deadline extension of three months to all registered ongoing Real Estate Projects across the State.
NBCC to handover 27,223 houses of Amrapali Group soon
Out of the total 45,000 houses in the stalled projects of Amrapali Group, the process of completion of about 40000 housing units has begun. A huge relief to the homebuyers.
COVID-19 Crisis-The government should protect the interest of the Homebuyers
Due to COVID-19 the most affected have been the real estate industry as both the demand as well as the supply side has been adversely affected.
MahaRERA extends the registration of Real Estate Projects by 3 month
Due to nation wide lockdown MahaRERA extended the period of validity for registration of all registered Real Estate Projects by 3 Months.
Hope in Times of COVID- 19, 1% Concession on Stamp Duty in Maharashtra
Period of two years is kept keeping in mind the fact that such reduction will give life to the real estate and people would show more interest in immovable property.
Builders seek relief on finance from Ministry of Housing Affairs
The novel Coronavirus outbreak has worsened the liquidity crisis and worsened the already slowdown that has been going in the Real Estate Sector.
Reverse CIRP under IBC- A boon or Curse for the Homebuyers?
Earlier the allottees had an option of claiming refund of the entire amount. But under the reverse CIRP, the allottees will not be able to claim the refund.
Decree-Holder is not covered by threshold of Home Buyers for IBC
In the case of Ashok Tripathi and Anr Vs. Ansal Properties and Infrastructure Ltd. that a decree-holder/homebuyer having refund order from RERA or other courts shall not be deemed as a homebuyer but a financial creditor.
Last Mile Funding- Government bringing relief to the Home buyers
The Government cleared the last mile funding for 2 stuck housing projects with over Rs. 540 crore capital commitment. That will provide relief to over 1,800 troubled homebuyers based in Bengaluru and Mumbai.
Rise of 5% – 10% in super area will be considered justified- HRERA
Haryana RERA authority has recently passed a detailed order laying down clear principles with regard to increase in super area. The authority gave leverage of 5% to 10% increase in super area to builders but specifically mentioned that an increase of 20% in super area is a huge increase thus, it does not appear to be justified.
A ray of hope for Supertech Home Buyers- Company to sell assets to complete Projects
Supertech plans to sell its assets to raise money for its real estate projects. The Real Estate Firm has various real estate projects based in Delhi and NCR
Haryana RERA issues Directions for Annual Audits of Builder’s Bank Accounts
The HRERA issued directions that promoters should get their accounts audited within six months after the end of every financial year.
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