What if the project is stalled and builders do not have sufficient funds to complete the project. In such cases question arises that does RERA authorities have the power to take over the project?
In the course of implementation of RERA Act 2016, the Authorities face various unique challenges in deciding over the question of law or question of fact every day.
In this detailed articled we are sheding some lights on some of the important points decided by UP RERA.
RERA Karnataka- The builders who failed to register themselves with RERA Authority are barricaded from advertising, marketing, booking, selling or offering to sell any plot, apartment or building.
The RERA Act is expected to bring up the sales in Real estate in near future providing its worth to both consumers and builders but for now, it is more of a pest.
Since there has been a delay in RERA Filing, the developers are hoping that Center may extend the deadline as it may invite a whale of fine.
As per RERA Act every state had to frame rules in respect of Real Estate Regulation Act till 1st of May 2017 but till now many states have not yet notified their rules.