Bombay High Court rules against Maharashtra RERA in first petition tried in Court
The Bombay High Court decided the main petition, challenging an order given by Maharashtra Real Estate Regulatory Authority.
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Corruption Scam Lead RERA in action: 300 Cr to help Builders
Scam of estimate Rs. 300 crore in Madhya Pradesh to help builders dodging RERA laws. Scam caught because awared consumers file complaint against builder in RERA.
UP Government orders arrest of 8 Builders in Noida
Uttar Pradesh (UP) Government set up a group of ministers to scrutinize the disarray in Noida’s real estate sector. The committee on Monday ordered the arrest of arrest 8 builders for not delivering 5,000 flats to homebuyers. In the month of September, police had lodged 13 FIRs against 6 builders with projects in Noida and … Continue reading “UP Government orders arrest of 8 Builders in Noida”
Realty firms roll out discounts to woo buyers for under-construction projects
The push for under-construction projects comes at a time when most real estate firms are focusing on ready properties after implementation of RERA in May Mumbai: As home buyers switch preference to ready-to-move homes to escape tax on under-construction properties, builders have started rolling out discounts and promotions to lure them back. Buying properties under … Continue reading “Realty firms roll out discounts to woo buyers for under-construction projects”
Maharashtra Real Estate Regulator Take Action against Firms Who “Mislead Consumers”
MahaRERA has imposed a fine of Rs. 1,20,000 on Sai Estate Consultant, for advertising unregistered real estate project of Haware Builders and misleading the consumers.
Complaint Under RERA
The real estate sector was unregulated for a long time. If customers experienced delays, they had little redress. Because court disputes may take a long time, most customers were at the discretion of the builders. A proper complaint process has emerged as a result of the implementation of RERA.
The Real Estate (Regulation And Development) Act, 2016- A Boon for the Flat Buyers
The parliament in order to regulate this one of the fastest-growing sectors passed “The Real Estate (Regulation and Development) Act, 20164 which came into effect on 1st May 2016.
Section 8 of RERA: Obligation of Authority consequent upon the lapse of or on the revocation of registration.
Section 8 of the RERA is an essential clause that guarantees the protection of homebuyers’ interests in the event that the registration of a real estate project is canceled or expires.
SC resorts to Article 142 of the Constitution to cut short IBC technicalities to benefit home-buyers
The Apex Court used its authority under Article 142 to allow the CIRP proceedings to be withdrawn and to adjudicate all outstanding issues between the parties in the greater interest of the homebuyers.
Reverse CIRP and its Modus Operandi- An Extraneous concept to IBC Regime
The constitution of COC for one project instead of all is against the regular practice of CIRP. In the past two years, the NCLAT has passed similar orders in various cases and called them Reverse CIRP.
Criminal Liability in Subvention Scheme !!!
The criminal liabilities that may be invoked in a subvention scheme may vary depending upon the facts and circumstances of each case.
Breach of clause of the agreement, terming it as Default?
Delhi-based bench of NCLT passed an order by allowing a plea filed by the Residents Association for breach clauses of the agreement between the builder and the association, terming it as default.
Banks are equally answerable to RERA: Supreme Court
the orders passed by Rajasthan RERA that the Bank after exercising their rights over the real estate project under Section 13 of the SARFAESI Act becomes the assignee of the builder and are amenable to the jurisdiction of the RERA Authority.
Karnataka High Court orders for interim stay on the recovery of EMI from Homebuyers
The Karnataka High Court on 16.11.2021, allowed a deferment of all loan repayments, and directed the bank not to recovery the home loan and refrain from take any coercive action.
UP RERA Extend Delivery Date by Nine Months
UP RERA, considering the surge of Covid-19 and restrictions imposed on construction due to an increase in pollution, has extended the registration of the projects, by default, for which no promoter has to file an application before the Authority.
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