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.
UP-RERA has taken this step to ensure that homebuyers’ interests are effectively protected and that the RERA Act’s provisions are followed.
RajRERA Authority issued more than 300 notices to the developers in light of the delay in project completion and is all set to issue more notices to the concerned new developers.
Hon’ble High Court once again demonstrated its power to command the concerned authorities to execute the process of law and to grant relief to the innocent.
The authority should take proper cognizance and ensure compliance of Recovery Certificates by builders and protect the interest of homebuyers.
The Haryana Real Estate Regulatory Authority has issued notice to Empire Realtech Pvt Ltd along and an associated company, CHD Developers for completion of ongoing projects or face cancellation of registration. The HARERA has decided to debar builders from acquiring fresh licenses whose previous projects have been delayed. Also, the authority will blacklist such builders and a list of 50 builders in Gurugram has already been prepared.
Every project where the development work is still not completed at the time of the commencement of the RERA Act, will be considered as an ongoing project whether or not the application for completion certificate is filed before a competent authority.
A decision by the authority is a fundamental step towards constraining the real estate agents from exploiting extra money from buyers and sellers. The brokerage being fixed will turn down the chances of overcharging ultimately protecting the interest of homebuyers.
The UPRERA allowed the homebuyer’s association of a project to take charge of the completion of four stuck projects. Discussions are still going on with the original builder Jaypee Associates to come on board as contractor.
The UP-RERA (greater Noida) has proposed to create a stress fund to complete such pending projects. The same shall be put before the board of Lucknow for deliberation and thereafter it shall be sent to the UP Government.
Tags Amendment under IBC, Tags bankruptcy, category of the financial creditors, execution of RERA orders
In UP RERA, a separate department has now been made to look into the matters where the execution of the order has not been done.
One of the first projects to be deregistered by UP-RERA and the subsequent proceedings will decide how well RERA will be in implementation.
The builders who have just simply vanished or are in jail or have eloped due to major bungling done by them, the judicial process of such projects becomes a little difficult.
The UPRERA asked the builders to get their sale agreements registered, which will be necessary for the home buyers to seek interest in case of a delay in granting possession by a developer.
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