The RERA Authority issued warrants of attachment in respect of Rs 91.41 lakh to four bank accounts of M/s Supertech for deduction of the amount.
Category: Business Advisory
Karnataka RERA seeks government support for the Execution of Orders
The Karnataka RERA authority has been unable to help the aggrieved homebuyers due to lack of support from deputy commissioners, so the authority forced to write to the Revenue Department that Deputy Commissioners are not honoring the judgments to help home-buyers.
Outbreak of Covid-19 Trapped the Real Estate Sector
The outbreak of COVID-19 has adversely affected the real estate sector. This current situation gave massive disappointment and distress to the homebuyers
Retroactively Application of RERA Act in lieu of False Advertisements
MahaRERA Appellate Tribunal gave its much-awaited order in writing, in favor of home buyers by setting aside the earlier order by MahaRERA that Section 12 of RERA does not act retrospectively.
COVID19 Emergency-Government Should Protect the Interest of the Real Estate Project Developers
COVID19 Emergency-The Indian Economy is already facing a slowdown in growth but this situation to get worse if the countermeasure is not implemented sooner.
How to Execute RERA Order through NCLT under IBC
The RERA Act at present is still a toothless tiger due to lack of execution process of RERA orders. The reliefs under RERA at the moment rest only in paper.
Homebuyers to takeover the Delayed Projects- MAHARERA
MahaRERA has taken an extra step to ensure completion of struck and delayed projects. MahaRERA asked all the developers to handover the project to homebuyer.
LokSabha Clears Heavily Contested IBC Amendment Bill 2020
The LokSabha passed the IBC (Second Amendment) Bill 2019, which was first introduced by the Finance Minister Nirmala Sitharaman on 12 December 2019.
Interest for Delayed Period of Possession to be calculated from date of default of Handing over Possession
The promoter is under obligation to pay interest on the amount paid by allottee from the date of payment till the possession is handed over to allottee.
MREAT allowed delay of 14 months and 22 days to allottees
In the matter of Mr. Anil Mnagaldas Vade & ors. vs. Siddhitech Developers, the delay in filing an appeal u/s 44 of RERA Act, MREAT allowed delay of 14 months & 22 days to homebuyers.
MREAT directed developers to refund the Forfeited Amount
MREAT directed the developers to refund the forfeited amount of Rs. 8.14 lakhs to Jagdish Patel and Pravin Patel within two months.
Builders are demanding cash despite RERA and Demonetization
Builders demanding cash are often a sign of unscrupulous dealings and should not invest their hard earnings in such dicey investments.
Homebuyers approach parliamentary committee against ordinance infringing their rights to approach NCLT
Forum for People’s Collective Efforts, has approached the parliamentary standing committee on finance with its objection to a proposed amendment to the Insolvency and Bankruptcy Code.
Kerala Comes under the Umbrella of RERA
Kerala RERA was formally launched on January 1, 2020. The Authority has also fixed a three-month period for developers to register all ongoing and upcoming projects.
A timely Alarm for Project Developers of stalled projects in Bihar
Bihar RERA authority has taken Suo-Motu cognizance against five promoters and builders with the highest number of complaints.
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