Search Results for: provision of the RERA Act

IBC vs SARFAESI Act

The IBC is favoured over the SARFAESI Act, primarily because it offers a quick solution and is also effective in reviving the company and safeguarding the interests of all stakeholders.

UP-RERA Penalises Supertech, Mahagun and other Projects and Revokes the Third Project of Ansal API

UP-RERA has taken this step to ensure that homebuyers’ interests are effectively protected and that the RERA Act’s provisions are followed.

Bihar RERA takes strict action: Freezes Bank Accounts of Construction Company & its Directors

Bihar-RERA issued an interim order in a case where it froze the bank accounts of a construction company and its directors.

UP-RERA issued guidelines for advertisements in Real Estate Project

All the promoters of the real estate projects registered with UP-RERA and similarly all the real estate agents registered with UP-RERA shall ensure strict compliance of these guidelines.

Karnataka RERA lists 22 projects which have violated “Advertisement Guidelines”

Under Section 11 of the Act all the projects in the state are required to compulsorily register under RERA and this number is to be shown in every “advertisement” by the promoter.

Two-third consent of buyers must for changes in building plan: MahaRERA

The Authority has stopped the builder to make any changes in the sanctioned plan without the approval of the 2/3rd buyer as given under Section 14 of the RERA Act, 2016.

Contradictions between The RERA and IBC

The IBC recognizes homebuyers under financial creditors to protect their rights even when a creditor, other than a homebuyer, invokes insolvency proceedings against the builder.

RERA does not bar remedies under Consumer Protection Act: SC

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”.

Punjab & Haryana HC Finally settles the Dispute of Power between RERA Authority and Adjudicating Officer

The High Court of Punjab and Haryana finally settles the dispute of granting refund under RERA. The High Court in a detailed judgment has finally decided the matter in favour of RERA Authority and has ruled that RERA Authority will have power to grant refund and possession and Adjudicating officer will only have limited power with respect to granting Compensation.

SECTION-8 OF RERA Vs. REVERSE INSOLVENCY

Many Homebuyers are confused between RERA and Reverse Insolvency, and it’s hard to decide which one is better. So here we are explaining the concept of RERA vs Reverse Insolvency.

How IBC is Better than RERA for Homebuyers

IBC undoubtedly appears to be a better alternative in comparison to RERA. IBC offers a time bound resolution of the grievance of the homebuyers.

Compliance of Recovery Certificate (RC) issued by RERA in Uttar Pradesh

An allottee can write a representation addressed to the DM explaining his grievance and praying for the compliance of the RC issued by the RERA within a specified period of time.

Legal Remedies for Stalled Project under RERA

There would be multiple reasons for such projects however the maximums projects are delayed or stalled due to diversion of money or unprofessional decisions of the builder.

Relief for Homebuyers of Bombay Dyeing- MahaRERA Tribunal Rules on Retrospective Effects of Section-12

Big relief for the homebuyers of M/S Bombay Dyeing and Manufacturing Co Ltd. the MAHARERA Tribunal has ruled in the favour of the homebuyers asking the developer to refund the paid amount.

Lack of Execution under RERA- Another roadblock for Homebuyers

The time period of paying the money lapsed, few more months also went by chasing the builder to pay the money as per RERA order but all this begged no results and Homebuyers are forced to knock on the doors of RERA Authority again.