RERA Act grants the remedy to the homebuyers where they can file a complaint under section 31 of RERA Act and can claim interest for delay in possession by the developers. Homebuyers must seek legal assistance without delaying.
A customer should remember of taking each document from the builder. The occupancy certificate should be taken before creating the ultimate possession payment to the builder to avoid any downside in future.
If the non-payment of a clear undisputed amount is being illegally and dishonestly avoided, whilst at the same time very large sums of money are being raised and spent by the same group or carrying on large real estate development projects.
The MahaRERA in three separate orders directed the CCI Projects Ltd to pay interest on delayed period of possession after the ongoing six-month moratorium due to covid-19 crisis is over.
The promoter is under obligation to pay interest on the amount paid by allottee from the date of payment till the possession is handed over to allottee.
In the matter of Mr. Anil Mnagaldas Vade & ors. vs. Siddhitech Developers, the delay in filing an appeal u/s 44 of RERA Act, MREAT allowed delay of 14 months & 22 days to homebuyers.
Chandigarh consumer commission coming to the rescue of the homebuyers has been able to restore its faith among homebuyers.
Hundreds of homebuyers in Karnataka have been left in the lurch as they still haven’t received compensation from the developers. The Karnataka RERA has already passed orders against these errant developers and penalized them for not delivering possession
Maha-RERA issued a revenue recovery warrant and sent it to the Thane collector. And was forward to the Tehsildar of the area for property sealing and auctioning to recover the money.
MUMBAI: The Maharashtra Real Estate Regulatory Authority has for the first time expanded the scope of reasons beyond a builder’s control. The authority upheld a city builder’s claim that a 2009 project was delayed due to change of law, administrative conflicts and “incorrect classification of the plot as CRZ II’’ —reasons beyond his control. Hence, the builder … Continue reading “Builders not liable to pay for ‘justified’ delays: MahaRERA”
The Supreme Court has finally settled the law and has provided relief to all the allottees which were being regularly harassed by the builders under the shed of one sided clauses in the Apartment Buyer’s Agreements.
Real Estate Regulatory Authority Act, 2016 (hereinafter referred to as “RERA Act”) basically aims to bring efficiency and transparency to the real estate industry, and one of the main priority to protect the interest of the buyers in the real estate sector.
Incorporation of one-sided clauses in the agreement where the buyer is expected to sign on the dotted lines having no other option would amount to unfair trade practices under the Consumer Protection Act, 1986.
IFMS is an additional amount given by the buyers to the developer/builder till the time resident’s welfare association (RWA) is formed. The purpose of forming RWA is maintenance purpose, security purpose and projects for developments.
Continuous demands of the project developers for extension of RERA registration have posed a major question of marginalizing the interest of the Homebuyers.
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