buyers only had the option to rely upon the deceiving marketing stunts of the developers which all were only endorsing the commitments and freebies which they never intent to give in reality.
The Gurugram, HRERA Authority it has recently been constituted in the month of Feb and in March it started the hearing process.
Both the IBC and RERA have the provisions where the probability for the conflict in their operations are very high.
An article about how the implementation of the RERA Act has deeply affected the recovery of the Indian Real Estate market as it is bearish for last 5 years.
Since the implementation of Real Estate (Regulation and Development) Act, 2016 we have witnessed a drastic change in the grievance redressal systems of the aggrieved home-buyers.
The Maharashtra RERA in its ruling shed some light on the refund of booking amount as in its order the authority directed the developer to give back the booking amount.
The growth of Real Estate Sector, Implementation pf RERA, Slow growth in Real Estate Sector after the RERA implementation.
RERA Act, 2016 was implemented last year on May 01,2017 and now it is going to complete a year and if we look at the developments since its genesis then we can infer that everything seems to be appropriately in line.
RERA Act has given legal remedies for the aggrieved home-buyers and also chained the malicious acts of the Developers.