Search Results for: project under RERA

Delayed Possession Relief under Section 18 of RERA

A respondent has violated the provisions of section 18 of the RERA and hence the complainant is entitled to seek interest for the delayed possession under section 18 of the RERA.

Right of homebuyer seeking refund and compensation for a delayed project

Section 18 (1) gives two kinds of rights to the homebuyers i.e. right to get a Refund along with Interest and the Right to get Compensation.

Why are Homebuyers choosing NCLT over RERA?

Buyers say that RERA orders are not getting implemented and this is forcing them to approach NCLT and there is a need to check abuse and maximize the value of assets.

Pre-Deposit is Mandatory for Filing Appeal U/Sec 43(5) RERA

The Appellate Tribunal recorded its dissatisfaction to the effect that the appellant has not complied with provisions of Section 43(5) of the Act, 2016 and has not deposited the balance amount.

A NEW HOPE FOR THE DECREE HOLDERS UNDER THE IBC

Home buyers who have an order/decree/award for refund passed either by RERA or any consumer court or any court of law, can approach the NCLT under Section 7 of the Code for its default/non-payment, giving a new cause of action for the limitation period from the date the default occurred.

WORKING REPORT OF RERA AFTER ITS ENACTMENT

In the past five years of RERA, it has been successful to tackle the issues between the Home Buyers and Builders or Developers and providing transparency into the real-estate projects.

Application Filing by the Home Buyers/Allottees under IBC, 2016

the interest of the allottees is protected and the survival of real estate companies and completion of projects is ensured. As the amendment in the IBC has brought much needed clarity and provided the much-needed right to the home buyers/allottee.

Limitations of RERA Act

In India after farming, the second biggest financial area is of land and building up of RERA Act, 2017 is a major advance towards a more organized method of managing the housing market in India.

Revocation of Registration under Real Estate (Regulation & Development) Act, 2016

The Competent Authorities hold the power to revocate the registration of such promoters along with the publication of the name of such promoter in the defaulter’s list.

Offences and Penalties under RERA

The RERA Act is the best reform happened for the homebuyers. If in any situation a dispute arises, the offences, procedure and penalty is being clearly stated.

Karnataka-RERA warned 373 projects to complete before deadline ends

Karnataka Real Estate Regulatory Authority (hereinafter referred to as K-RERA or authority) has given a deadline extension for the projects that were supposed to be completed in April or later to September 2021.

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.

Statutory Compliance under RERA Act, 2016

The provisions were not sufficient to render punishment to the developer and the builder for misconducting and breaching the terms and conditions of the builder buyer agreement in the long run.

How to claim interest on Delayed Project

RERA Act grants the remedy to the homebuyers where they can file a complaint under section 31 of RERA Act and can claim interest for delay in possession by the developers. Homebuyers must seek legal assistance without delaying.