Bihar RERA authority has taken Suo-Motu cognizance against five promoters and builders with the highest number of complaints. 

Open parking spaces fall within the definition of common areas in the RERA Act, and hence developers cannot charge homebuyers for open parking spaces.

The government is presently mooting schemes to unburden NBFCs of stressed financial assets such as by creating a stressed asset fund to buy out the stressed financial assets.

It was observed that once the complainant has given the aforesaid consent he cannot withdraw it as respondents have acted upon the same.

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.

Due to the unavailability of funds from banks and developers getting bankrupt, small developers will get into joint ventures, mergers, and acquisitions for their survival within the market.

Complaint was filed by Greenopolis Welfare association against the promoters, M/s Orris Infrastructure Private Limited and M/s Three C Shelters Pvt. Ltd. for not giving possession by the due date.

MahaRERA directs the respondent to refund the amount paid by the complainants to the respondent along with interest under Section-18 of the RERA.

MahaRERA has been a model for other states. Recently, its proved again when suo motu action was taken for the first time against large group of promoters.

Consumer Court or MahaRERA: Homebuyers have the option of withdrawing the pending consumer complaint and file before appropriate RERA authorities.

Explained why and how MahaRERA should implement and use Suo Motu Power and speculate about the effects of Suo Motu Powers on the homebuyers.

Central Govt. passed an ordinance by which they brought in a cap on number of homebuyers approaching the NCLT under Section-7 of the IBC code, 2016.

MOFA belongs to such class of such legislation that were more regulatory in nature, instead RERA creates an environment for the functioning and development of real estate sector.

The new trends of the Real Estate sector show a market that has learnt from its errors and is confident to make an increasing comeback with a focus of consumer welfare and diversification of market.

A growing number of Builders, Developers, Promoters and stakeholders in the Real Estate Industry are backing RERA to be the first applicable redressal mechanism to homebuyers.