Some of the legal remedies available for the homebuyers of stalled real estate projects against builders in case of disputes or grievances. Homebuyers can protect themselves from builders in India and ensure that they get their dream home without any hassles.
If a homebuyer failed to file his/her case then will his/her case will not be taken and his grievances won’t be solved? The answer to this question is “NO”! The reason here is that the limitation period in the case of a homebuyer is continuous in view of the non-handing over of the possession of the unit.
IBC undoubtedly appears to be a better alternative in comparison to RERA. IBC offers a time bound resolution of the grievance of the homebuyers.
There are certain points which are to be taken into consideration whilst filing a petition for the homebuyers under the newly amended Section 7 of IBC.
A major relief to the homebuyers in the stalled projects of the Amrapali group. The NBCC will play a major part in ensuring the in-time completion of the projects once the adequate financing is promised by SBI CAP and UCO.
The real estate industry, contributing 7 percent to the GDP and employing 15% of the labor force, has come to a complete standstill. Recently, MahaRERA has decided to hear urgent cases.
Forum for People’s Collective Efforts, has approached the parliamentary standing committee on finance with its objection to a proposed amendment to the Insolvency and Bankruptcy Code.
The RERA authorities of the Various State are not granting refund looking into the wider interest of the Real Estate Sector.
The home-buyers should be aware of all the rights and duties they have so that they can secure their property investment.
Homebuyers to file the claim under IBC rather than adopting a way which is not legally realistic wherein the insolvency orders are passed against the builder’s company.
A large number of aggrieved homebuyers took out a large procession against the dilution of RERA by the state government of Karnataka.
Greater Noida RERA Authority asked around 700 homebuyers of Subhkamna Tech Home to come up with a viable financial plan to complete the housing project in Sector 137.
This is not compulsory that all RERA registered projects are investment worthy ,there are many projects registered under RERA on which investing money will become the worst decision of your life.
The grievances of the homebuyers who have already taken the possession will be entertained by the AGRF now as the matters related to delay in possession of ongoing projects is under the purview of HRERA.
As per the information, The draft rules of the Haryana Real Estate Regulatory Authority (H-RERA) are set to come into effect from July 1. The town and country planning (TCP) department will soon submit a report on the draft rules to the government for them to be notified.
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