Search Results for: protect the interest of the homebuyers

COVID-19 Crisis-The government should protect the interest of the Homebuyers

Due to COVID-19 the most affected have been the real estate industry as both the demand as well as the supply side has been adversely affected.

Supreme Court protect interests of Homebuyers in Jaiprakash Infratech Limited case

Home buyers who had invested in housing projects by JIL, were permitted by the Interim Resolution Professional (IRP) to submit their claims as ‘other creditors’, subordinate to financial and operational creditors of JIL.

Is your house stuck in a stalled real estate project? How did homebuyers take on builders to get their houses?

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.

Submissions of claims by homebuyers under IBC

Creditors who fails to the submit the claims with proof within 14 days can submit their claims within 90 days from the Insolvency Commencement date as per the amendment of Regulation 12(2).

How RERA Benefits Homebuyers

RERA’s fundamental goal is to advance straightforwardness, responsibility, and productivity in the real estate sector. In this blog you will find out around 10 major Benefits of RERA Act, for Home Buyers.

Can homebuyers approach the Supreme Court under Article 32 against developers?

The Hon’ble Supreme Court in its latest judgement dated February, 11 2021 declared that the proceedings under Article 32 of the Constitution by a purchaser, seeking relief in respect to a real estate project cannot be entertained.

Why Should Homebuyers approach NCLT against defaulting Real Estate Developers/Builders?

whereas legislation like RERA provides for individual remedies against the Builder, the IBC Code gives collective control over the affairs and management of the Corporate Debtor to its financial creditors.

Aggrieved homebuyers should approach NCLT or RERA?

NCLT and RERA have different functioning and approach to tackle cases of homebuyers, often homebuyers are confused on which remedy to choose.

RERA does not bar remedies under Consumer Protection Act: SC

Supreme Court rules that remedies under RERA and Consumer can be pursued by a buyer and one does not bar another. The same has been done in the matter of “M/S Imperial Structures Ltd vs Anil Patni and another”.

Reverse Insolvency- Legal Remedy to Homebuyers as Group to get the Project Completed

The reason for stalling of a project can be one or many but the real objective for a homebuyer is to get the best possible remedy which protects the interest of all homebuyers of such a project.

MahaRERA orders CCI Projects to Pay Interest on Delayed Possession

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.

Relief for Homebuyers: RBI pushes for home loan restructuring

Restructuring plan is a ray of hope for the borrowers. As the borrowers are already being stretched between the loan repayment and pandemic situation.

Relief for Homebuyers- NBCC to deliver Amrapali flats from August

NBCC took over the project in July on the SC orders after a petition by homebuyers following the Amrapali Group’s failure to deliver more than 30,000 flats in 15 projects. According to NBCC they will hand over at least 150-200 flats every month from august.

Relief for Homebuyers- Jammu & Kashmir RERA Notifies RERA Rules

RERA in J&K will secure the interest of home buyers as well as put an end to the malpractices by the agents or builders improvising the condition of the real estate sector.