Hon’ble Supreme Court has reiterated and upheld that legal position of the Flat Buyers Association as consumer and has also made it clear that the builder cannot occupy any place, without the permission of the association, after the project is handed over.
An aggrieved individual has two options: either go to the RERA Tribunal or go to the Consumer Forum & it’s not possible to file a complaint with both the RERA Tribunal and the NCDRC at the same time.
The main purpose of RERA was to enhance builder buyer transparency along with creating a strong adjudicating mechanism to resolve all the disputes in concern with the real estate sector.
We always talk about problems that we face. Let’s talk about the remedy this time. A good legal team will help you in getting justice on time with an effective remedy. Finding the right legal remedy for your dispute is all what you seek during this chaos.
Looking upon the pendency of cases, people have to wait for years to get relief even after having all the merits of the case. Let’s Understand What is RERA and RERA procedure.
Supreme Court rules that remedies under RERA and Consumer can be pursued by a buyer and one does not bar another. The same has been done in the matter of “M/S Imperial Structures Ltd vs Anil Patni and another”.
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.
Builders demanding cash are often a sign of unscrupulous dealings and should not invest their hard earnings in such dicey investments.
Consumer Court or MahaRERA: Homebuyers have the option of withdrawing the pending consumer complaint and file before appropriate RERA authorities.
Alternatives that an individual home buyer has in cases when the priority is refund and how they can proceed before NCLT or in other words exploit a long standing loophole.
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.
The HRERA once more in a distinctive and groundbreaking feat attached the properties of the Developer to secure funds to ensure the completion of the Greenopolis Project.
NCDRC ordered a Pune based builder – Marvel Omega to refund Rs 8.14 crores along with 10% annual interest to the buyer.
Real estate (regulation & development) act, 2016 (RERA) came as a sigh of relief for the homebuyers (Financial creditors), providing them with adequate relief unlike available conventional remedies under civil and consumer laws
The home buyers have multiple forums to their rescue and it depends on them as to under what procures and act or code they wish to proceed.
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