According to RERA, grievances filed with the authority must be resolved within 60 days of filing. Complaints have been settled more quickly via the conciliation forum than through the authority. It also cuts down on the expense and time of litigation.
Main purpose of the Act lies in enhancing the Transparency between buyer and builder and creating a strong adjudicating system for the disputes arising in real estate sector.
Lok Adalat will be held online and complaints filed before the UP-RERA under Section 31 of the RERA Act in which amicable settlement is possible or a party has filed an application for settlement will be heard.
Disputes between builders and homebuyers in the Maharashtra that went to mediation were successfully settled, preventing time-consuming litigation in RERA Authority.
TN-RERA has recently passed an order to the builder to refund the amount with interest along with Rs. 75,000 for compensation and litigation expenses against the Developer for not providing the documents.
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.
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.
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 the developers to refund the forfeited amount of Rs. 8.14 lakhs to Jagdish Patel and Pravin Patel within two months.
The high court upheld the decision of the Appellate tribunal by directing the builder to deposit the 50% of the refund amount as ordered by the authority in order to hear the plea.
MahaRERA had setup a Conciliation Forum for aggrieved homebuyers who can approach the forum to get their grievances solved, before lodging complaints with the MahaRERA.
After the implementation of Real Estate (Regulation and Development) Act, 2016, any person who is aggrieved because of the delay in execution of buyer builder agreement after payment of more than 10% of the cost of apartment/plot/building can a file a complaint before RERA Authority of the State for execution of the agreement. If builder denies to execute … Continue reading “Will RERA execute the builder-buyer agreement as the Builder fails to do so?”
A complaint was filed by Umesh Vyas against the developer Prima Terra Buildetch Private Limited and Satsasang Bharti CHS Ltd. The complainant approached MahaRERA seeking the interest on delayed possession.
Maha RERA has given ruling on one very important aspect which is about the applicability of RERA Act on properties which are on lease/rent.
The RERA is going to override the arbitration clause in the agreement. And keeping the same in view it is advisable to the aggrieved home- buyers that they should reach before RERA
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