UP-RERA proposes stress fund for completing the pending projects

The UP-RERA (greater Noida) has proposed to create a stress fund to complete such pending projects. The same shall be put before the board of Lucknow for deliberation and thereafter it shall be sent to the UP Government.

Financial Institution to comply with RERA provisions

If the collection from allottees in a particular month is less than the installment due to be paid to the lender, the entire amount in the escrow account reportedly goes to lenders.

RERA Orders remain on Paper

The authorities of most of the states have passed numerous orders but none of them have been executed in reality. The orders remain on paper and developer/ promoters have not complied the order.

Bombay High Court: Deposit 50% of the refund amount to hear the case

The high court upheld the decision of the Appellate tribunal by directing the builder to deposit the 50% of the refund amount as ordered by the authority in order to hear the plea.