Recognition of Home Buyers as Financial Creditors under IBC
Home buyers are vital stakeholders in building projects. Many home buyers book their property in advance which helps builders raise funds for construction and development of the project.
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Admissibility of Insolvency Petition filed by a homebuyer
The application filed by the homebuyers under section 7 of IBC shall be maintainable. Therefore the homebuyers are advised to approach NCLT under IBC to recover their stuck money in a time-bound manner.
Can homebuyer approach NCLT before RERA?
RERA has been specifically setup to regulate the real estate sector therefore one must approach RERA before approaching NCLT.
RERA: Is refund the only solution for the aggrieved homebuyers?
The RERA authorities of the Various State are not granting refund looking into the wider interest of the Real Estate Sector.
Should Home Buyer under RERA be given preference under Insolvency And Bankruptcy Code, 2016
IBC and RERA Act, enacted in 2016, appear to be pitted against each other as far as protecting the interests of bankers and home buyers are concerned.
RERA and the IBC to the rescue of homebuyers
The IBC (Amendment) Bill 2017 was passed by the Lok Sabha to form the base for covering loopholes in prevailing code and to increase the effectiveness of the resolution.
Homebuyers relief is a matter of concern for financial Institutions to lend to developers
The homebuyers have got a huge sigh of relief, and are finding it easier to get their money back which was a big deal before the enactment of IBC.
‘RERA well-equipped to deal with homebuyers trouble’, No scope for builder’s Fraud
H-RERA: K Khandelwal, the recently designated chairperson of Gurgaon seat of Haryana Real Estate Regulatory Authority (H-RERA),
Will The Unhappy Home Buyer Return To Under-Construction Properties?
The government is undertaking efforts to establish homebuyers’ confidence for committing to under-construction homes by encouraging states to implement RERA, which would protect the buyer’s interests
Homebuyers to Move to Consumer Court for RERA Guff
Homebuyers who are heavy-hearted with Haryana’s RERA Act are in the intention of percolating to the National Consumer Disputes Redressal Commission (NCDRC) to protect their interests.
Centre Proposes to Submit Model Builder-Buyer Agreement with mandatory RERA clauses before Supreme Court
A builder-buyer agreement with mandatory clauses that the states or union territories cannot change has been proposed to the Supreme Court by the federal government.
Outstanding payments to allottees in Real Estate Projects are Financial Debts
The Supreme Court did not agree to the payment of amounts deposited by the promoter to homebuyers on the grounds that it would be preferential payment to one class of creditors.
RERA Imposes Rs 2.5 Crs penalty on developers for failure to comply the RERA orders
UPRERA Authority has imposed penalty of Rs 2.5 crore against 11 developers for failing to comply with the authority’s order, which were in favor of homebuyers.
Builders are demanding cash despite RERA and Demonetization
Builders demanding cash are often a sign of unscrupulous dealings and should not invest their hard earnings in such dicey investments.
West Bengal Deviates its RERA rules from Central Act
Real estate projects under RERA Act has gotten a difficulty as West Bengal government has articulated its own law for the part in the state.
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