Are Builders more threaten by NCLT proceedings than RERA?
A growing number of Builders, Developers, Promoters and stakeholders in the Real Estate Industry are backing RERA to be the first applicable redressal mechanism to homebuyers.
Search Results for: protection of interest of homebuyers
Consumer Forums back in the game-orders full refund in case of Delayed Possession
Chandigarh consumer commission coming to the rescue of the homebuyers has been able to restore its faith among homebuyers.
Filing claims after the lapse of due date
Real estate (regulation & development) act, 2016 (RERA) came as a sigh of relief for the homebuyers (Financial creditors), providing them with adequate relief unlike available conventional remedies under civil and consumer laws
Where to file property related issues?
If the builder is delaying in giving possession or not giving the property as per the agreements there are some effective legal remedies for the aggrieved homebuyers under the law.
Analysis of Judgment of the Supreme Court upholding the legality and constitutionality of Section 5(8)(f) of IBC, 2016
Judgment, which is titled Pioneer Urban Land and Infrastructure Ltd. and Anr. v. Union of India and Ors. upholds the constitutional validity of Section 5(8)(f) of the Insolvency & Bankruptcy Code, 2016 (hereinafter as the ‘Code’).
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.
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.
Can financial creditor approach NCLT while the petition is pending in NCDRC?
The homebuyers who wish to seek refund of their amount are legally entitled to approach National Company Law Tribunal (NCLT) under IBC.
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