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
Don’t keep sleeping on your rights as homebuyers because the newly implemented RERA is here to empower you and before time runs out to go grab your rights.
Possessing a property in India is one of the extreme achievements and is one of the most profitable investments in India. All this lead to a great boom in the real estate sector which was devoid of any fixed legal regime and was majorly covered by the Consumer Protection Act.
judgments passed by the High Court, the Supreme Court and even the authorities under RERA/ CPA and IBC, it seems the home buyers have multiple forums to their rescue and it depends on them as to under what procure and act or code they wish to proceed.
As per the judgment of the NCDRC, class action complaint can be filed under the Consumer Protection Act, 1986 and it is not necessary for all the aggrieved persons to file separate complaints.