Bihar RERA Authority exercising power under Section-36 of the Act which gives power to the Authority to pass interim orders for contravention of Act freezed the bank accounts of the builder.

An RC was issued for recovering 3.04 crores, based on the same a 15 days’ notice was issued to clear the dues post which due to non-compliance builders were arrested.

To revive the ship the major equipment which is required will be RERA as it will soon accelerate its healing on the damage caused to the real estate sector.

The Hon’ble bench Division Bench of Justice Mahesh Grover and Justice Lalit Batra after hearing the arguments on behalf of the petitioners have issued notice to Union of India.

The RERA Authorities of the various States have passed some landmark Judgments as RERA law provides them sufficient powers for the smooth functioning of their duties and role.

Maha-RERA issued a revenue recovery warrant and sent it to the Thane collector. And was forward to the Tehsildar of the area for property sealing and auctioning to recover the money.

The RERA authorities of the Various State are not granting refund looking into the wider interest of the Real Estate Sector.

The execution of the orders is still a far fetched process as the RERA has failed to implement the execution mechanism under the RERA.

In case the government issues the notification of superseding the Authority it shall give a reasonable opportunity to the Authority to make representations against the notification.

The complaints against the defaulting builders should only be taken up by RERA Authorities of the State before being referred to the NCLT for the insolvency proceedings.

RERA seems to be on its way to becoming a reality, with most states notifying rules under RERA, and over half of them establishing a permanent authority.

Approaching RERA has been rightly helpful for the homebuyers who have not received the possession or refund of the amount paid by them to the builders or developers.

The homebuyers who wish to seek refund of their amount are legally entitled to approach National Company Law Tribunal (NCLT) under IBC.

If there is no assured return plan incorporated into the builder buyer agreement entered into between the homebuyer and builder then the homebuyer had to approach RERA to seek refund.

The all the steps taken by the UPRERA Authority is now finally giving some lucrative results and the long wait of the home-buyers might come to an end.